REAL ESTATE

Sold: Mount Prospect Plaza in suburban Chicago

BY Michael Fickes

Oakbrook Terrace, Ill.Mid-America Real Estate Corp.’s investment sales group has brokered the sale of the 301,045-sq.-ft. Mount Prospect Plaza in Mount Prospect, Ill., a northwestern suburb of Chicago.

Ramco-Gershenson Properties Trust purchased the property for $36.1 million from a pension fund advised by JP Morgan Asset Management Inc.

Marshalls, Ross Dress for Less, L.A. Fitness, Aldi, Petco and Walgreens anchor the center, which is located in a dense infill area. Shadow anchors include a Wal-Mart Supercenter.

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REAL ESTATE

Winick launches investment sales division

BY Michael Fickes

Cranford, N.J. — Winick Realty Group N.J. has announced the formation of an investment sales division in the company’s Cranford, N.J., office. The new division will focus on a wide range of properties from ne-leased investment-grade properties to shopping centers throughout New Jersey.

“The investment sales market is red-hot right now, with a substantial amount of business that reaches pre-recession levels,” said Tyler Bennett, senior VP and founding partner of Winick Realty N.J.

Bennett and fellow Senior VP and Founding Partner Daniel Spector have hired Urszula Zoltek to head the division. She comes to Winick from Edgewood Properties where she served as VP leasing. Her experience includes a stint with Marcus & Millichap Real Estate Investment Services.

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REAL ESTATE

Venture inks eight retail leases for 133,000 sq. ft.

BY Michael Fickes

Dallas-Fort Worth, Texas — Venture Commercial has completed eight retail leases spanning 133,000 sq. ft. for landlords and tenants across North Texas.

“Significant leasing activity across the area in recent months shows that the DFW market is really heating up,” said Bryan Cornelius, a partner with Venture Commercial.

  • Stacy Furniture & Design will open a 43,250-sq.-ft. store in the Preston Parker Crossing shopping center in Plano. Venture represented the tenant, and United Commercial Realty represented the landlord. Venture said the furniture retailer is looking for additional locations in the region.
  • Whole Earth Provision Co. has opened a 22,361-sq.-ft. store in Southlake Town Square shopping center. It is the retailers third location in the DFW market. Venture represented the tenant and United Commercial Realty represented the landlord.
  • Starbucks is moving to a 2,170-sq.-ft. end cap at Sundance Square in Fort Worth in November. The space includes an outdoor patio. Venture represented Starbucks, and Sundance Square Management represented the landlord.
  • Party City Corp. has signed a 12,389-sq.-ft. lease at Overton Park Plaza in Fort Worth. Venture represented Party City. Weingarten Realty represented the landlord.
  • Five Below has signed on for an 8,000-sq.-ft. store at Lake Prairie Towne Crossing in Grand Prairie. It will be the retailer’s 16th location in Texas. Venture represented the landlord, Kimco Realty and Edge Realty Partners represented Five Below.
  • Durango Trading Company has moved to a new 14,286-sq.-ft. space in the Preston Beltline shopping center in Dallas. Venture represented Durango and Crestview Real Estate represented the landlord.
  • Gen-X will open a 14,650 sq.-ft. clothing store in Wynnewood Village Shopping Center in Dallas. It will be the retailer’s second DFW store. Venture represented the tenant and Brixmor represented the landlord.
  • Venture represented 99 Cents Only Stores Texas, which has leased a 16,086-sq.-ft. anchor space in Galloway Plaza in Mesquite. Baker Holdings represented the landlord.
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