PEKIN, ILL. — Friedman Real Estate has brokered the sale of Broadway Village Shopping Center in Pekin, about 10 miles south of Peoria. The 69,584-square-foot property, built in 1970, is located on Broadway Street. Dollar General is the sole tenant in the center, which at the time of sale was only 8 percent occupied. Kyle Simon of Friedman brokered the sale. Buon Properties LLC purchased the asset from Cohen Development Co.
KISSIMMEE, FLA. — New York-based O’Connor Capital Partners has sold the Tupperware Brands corporate headquarters campus in Kissimmee Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged the $43 million sale of the 43-acre property. The buyer was Spirit Realty. The campus is 100 percent triple-net leased to Tupperware Brands, as it relocated its headquarters to the area in 1951. In 2020, Tupperware Brands executed a new 11-year lease with options enabling them to remain on the campus for up to 25 years. The eight-building campus is located on Orange Blossom Trail, just west of the Florida Turnpike and 10 miles south of Orlando International Airport. Douglas Mandel and Barry Wolfe of IPA represented O’Connor Capital Partners in the sale. The duo also procured the buyer, an unnamed investor based in Dallas. O’Connor is currently developing a mixed-use project on the land surrounding the Tupperware campus that will include residential, medical office and retail space.
DANIA BEACH, FLA. — Aztec Group Inc. has arranged a $7.6 million loan for the refinancing of Stirling Square, a 25,515-square-foot shopping center located in Dania Beach. Located at 700 Stirling Road, Stirling Square is ground-leased to Aldi and 7-Eleven. The 22,000-square-foot Aldi was built in 2018, and the 3,515-square-foot 7-Eleven will be completed in May. The 4.1-acre property is situated at the northwest corner of Stirling and Phippen Waiters roads. Howard Taft and Joel Zusman of Aztec Group originated the financing through an unnamed life insurance company based in Idaho on behalf of the borrower, an affiliate of Salzman Real Estate Advisors. The 15-year loan featured a fixed interest rate below 3.8 percent and was structured at 60 percent loan-to-value.
HENDERSON, N.C. — Marcus & Millichap has arranged the $7.2 million sale of a Food Lion-anchored, 182,646-square-foot shopping center located at 1263 Dabney Drive in Henderson. David Gant and Lori Schneider of Marcus & Millichap represented the undisclosed seller, a limited liability company. The duo also represented the undisclosed buyer, another limited liability company. In addition to the Food Lion, the tenant roster includes a new Harbor Freight, Badcock Furniture and the flagship store of Roses, which is headquartered in Henderson.
WEST MELBOURNE, FLA. — Ackerman & Co. and Trout Daniel & Associates have arranged the sale of a CubeSmart Self Storage facility located at 1060 Polo Drive in West Melbourne. Missouri-based StorageMart acquired the facility, which features 397 climate-controlled storage units and 288 drive-up units. David Paulson, Stephen Lapierre and Wyatt Whitaker of Ackerman & Co. and Steven Cornblatt and Coleman Tirone of Trout Daniel & Associates represented StorageMart, which plans to rebrand the self-storage property into a StorageMart. The seller and sales price were not disclosed. The new StorageMart spans more than 70,000 rentable square feet. Planned upgrades to the property include improvements to loading accessibility and enhancements to security systems.
ATLANTA — American Tower, a data center REIT based in Boston, has expanded its American Tower Metro Data Center facility at 55 Marietta St. in downtown Atlanta. The addition brings nearly 20,000 square feet and 2 additional megawatts of capacity to the facility. American Tower has fully integrated the data center, formerly known as Colo Atl, into the American Tower brand. American Tower hopes with the expansion to provide its customers with more power and capacity, giving them a vehicle to provide stronger connectivity options. With the completion of the expansion, American Tower Metro Data Center now has a total of about 44,500 square feet across its second, fifth and eighth floors, while the added capacity brings the total to 4 megawatts. In 2020, additional improvements were completed, including renovations on the fifth floor, the addition of a new dedicated “meet-me-area,” upgrades to the security and surveillance systems and revamped workspaces on each floor for customers.
SAN ANTONIO — California-based Investors Management Group (IMG) has purchased Encore281 Apartments, a 228-unit multifamily property in north San Antonio, for $33 million. The property features one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, clubhouse with a coffee bar, picnic area and a dog park. Sean Sorrell, Greg Toro and Robert Arzola of JLL brokered the deal, the seller of which was not disclosed. Charlie Mentzer of Capital One Multifamily Finance originated Freddie Mac acquisition financing for IMG, which plans to invest $1.2 million in capital improvements.
FORT WORTH, TEXAS — Lee & Associates has negotiated a 308,777-square-foot industrial lease renewal at 1000 Terminal Road in Fort Worth. According to commercialcafé.com, the Class B property was built on 25.9 acres in 1991, totals 600,000 square feet and offers 366 parking spaces. Becky Thompson of Lee & Associates represented the tenant, Marco Co., a locally based manufacturer of retail fixtures and displays, in the lease negotiations. George Curry of JLL represented the landlord, Blackstone.
LONGVIEW, TEXAS — Marcus & Millichap has arranged the sale of Annie’s Attic Self Storage, a 422-unit facility located in Longview, about 120 miles east of Dallas. The property sits on 6.2 acres and spans 69,820 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company, in the transaction.
SUGAR LAND, TEXAS — New York City-based CIT Group Inc. has provided a $19.3 million acquisition loan for Sugar Creek Health Center, an 84,646-square-foot medical office building located in the southwestern Houston suburb of Sugar Land. The property is leased to providers of ambulatory surgery, imaging, orthopedics, women’s health, dentistry and optometry services. The borrower was an affiliate of Austin-based Virtus Real Estate Capital.