REAL ESTATE

Italian Restaurant, green initiative join Bayshore Plaza

BY Katherine Boccaccio

Barnegat, N.J. —Two long-term lease agreements totaling 6,600 sq. ft. bring retail occupancy to 100% at Bayshore Plaza in Barnegat, New Jersey, according to the 59,000-sq.-ft. property’s leasing and managing firm Levin Management.

The new tenants include casual Italian restaurant Luigi’s Ristorante and Brick Oven Pizza (2,400 sq. ft.) and non-profit green initiative Greensleeves Boutique (4,200 sq. ft.).

“We explored many different site options but ultimately chose Bayshore Plaza due to its excellent highway visibility and desirable demographics,” said Luigi Viterbo, who owns the restaurant along with Salvatore Viterbo and Anthony Cologna. Luigi Viterbo also owns four other New Jersey restaurants.

Located on Route 9 North, Bayshore Plaza is anchored by a 30,000-sq.-ft. Big Lots. Other national and regional tenants include Hollywood Tans, AT&T Wireless, Barnegat Pharmacy, Hudson City Savings, Spirits Unlimited, McDonalds, a nail salon, a dry cleaner and a Chinese restaurant.

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REAL ESTATE

East Peoria McDonald’s coming September 2014

BY Katherine Boccaccio

East Peoria, Illinois —McDonald’s Restaurants of Peoria/Bloomington will join the East Peoria Levee District with the opening of a new restaurant in September.

Local owner-operator Scott Bandy will be overseeing the construction of the restaurant, with plans to include a modern exterior and dual drive-thru lanes. Interior features include a dual-point ordering system with new split counter function, free Wi-Fi, and digital menu boards.

According to Peoria-based Cullinan Properties, the Levee District encompasses over 86 acres that includes 500,000 sq. ft. of retail and restaurant space, as well as office, hotel and civic components. Current tenants include, Target, Ross Dress for Less, Gordmans, Lane Bryant, Carter’s, Ulta Beauty, GNC, Red Robin, Tequila’s, Pot Belly’s, Jersey Mikes, Panda Express, Crust, Mattress Firm, Family Dental Care and Diva Nails.

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Mansour Group arranges sale of southern California Stein Mart building

BY Katherine Boccaccio

La Quinta, California —The Mansour Group has announced the sale of a 36,000-sq.-ft. Stein Mart building located in La Quinta, California. Sale price was approximately $8 million.

The property was sold via Mansour Group by an unnamed developer to a private, all-cash investor out of San Diego.

The freestanding building is situated in Washington Park, a 600,000-sq.-ft. power and lifestyle center anchored by Lowe’s, Target, Cost Plus, Office Depot, Trader Joe’s with plans for additional construction.

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