REAL ESTATE

Jimmy Johns inks 3 leases in Detroit metro area

BY Michael Fickes

Bloomfield Hills, Mich. — Jimmy Johns has signed leases for three new restaurants in the Detroit metropolitan area, two in Livonia and one in Northville.

In Livonia, Jimmy Johns signed a 2,277-sq.-ft. lease on Middlebelt Road. Mid-America Real Estate-Michigan represented Jimmy Johns and the landlord, CVS, in the transaction.

The second Livonia lease secured a 1,740-sq.-ft. space on a pad in a former Wal-Mart redevelopment at the intersection of I-96 and Middlebelt Road. Mid-America represented Jimmy Johns in the transaction, and Howard Schwartz Commercial Real Estate represented the landlord.

In Northville, Jimmy Johns took 1,920 sq. ft. and secured the drive-thru position within Phase I of Northville Park Place at the corner of 7 Mile and Haggerty Roads. Mid-America represented Jimmy Johns, and the landlord, Schostak Brothers & Co., was self-represented.

Mid-America Real Estate is the Michigan ChainLinks representative. ChainLinks Retail Advisors is a national and international network of over 60+ independent offices specializing in tenant representation and shopping center leasing.

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REAL ESTATE

Investment company buys Denton, Texas, town center

BY Michael Fickes

Dallas — Greenway Investment Co. has acquired Denton Town Center in Denton, Texas, from a family trust represented by the Dallas office of Transwestern. Dollar-Flowers Realty Partners represented Greenway.

The 77,592-sq.-ft. Denton Town Center is located across from the Golden Triangle Mall. The two-story, two-building property was 85 percent occupied at the time of sale. Long-term tenants include Vision Works, Sleep Experts, Cici’s Pizza, Carter Blood Care, Jason’s Deli and the U.S. Armed Forces. Transwestern has been leasing the center for more than 15 years.

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REAL ESTATE

CVS, The Boulevard restaurant ink leases at Queens center

BY Dan Berthiaume

Queens, N.Y. — A CVS Pharmacy and The Boulevard, a new family restaurant, have leased space in the Francis Lewis Boulevard Shopping Center in the Whitestone section of Queens, N.Y.

The CVS transaction is a lease renewal for an existing 13,500-sq.-ft. pharmacy. The Boulevard has taken 4,000 sq. ft. and plans to open by the end of March.

The Francis Lewis Boulevard tenant lineup also includes McDonalds, First Savings Bank, Kumon and Aphrodite Sweets.

Muss Development LLC, the owner and operator of the shopping center, has plans to upgrade the center when a 4,000-sq.-ft. parcel adjacent to CVS becomes available in the second quarter.

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