NORWICH, CONN. — Lyman Real Estate Brokerage & Development has arranged the sale of a retail property located at 646 Boswell Ave. in Norwich. Goodlettsville, Tenn.-based Dollar General acquired the 1,558-square-foot property for an undisclosed price. The location formerly housed Seafood Etc. market. Matthew Darling of Lyman Real Estate represented the undisclosed seller, while Michael Alberico of Atlantic Retail Properties represented the buyer in the deal.
SOUTH PORTLAND, MAINE — David Lengyel, owner and chief caretaker of Willows Pizza, has leased the former SoPo Bar and Grill space at 740 Broadway in South Portland. SoPo Bar and Grill, which had been in operation since 2014, suddenly closed last week. Lengyel plans to relocate Willows Pizza from 1422 Broadway to the new 8,800-square-foot location and will be opening for business in November. Additionally, Lengyel plans to re-hire as many former SoPo employees as possible and expand the restaurant’s menu to include SoPo’s standard fare, including steaks and burgers. Cole Smith of CBRE | The Boulos Company brokered the transaction.
DEARBORN, MICH. — Mid-America Real Estate Corp.’s investment sales team has arranged the sale of Fairlane Meadows, a retail center located at the corner of Ford Road and Mercury Drive in Dearborn. Times Equities acquired the property from Ramco-Gerhenson Properties Trust for $20.6 million. The 157,225-square-foot center is occupied by Best Buy, Citi Trends, David’s Bridal, Five Below and Dollar Tree. Ben Wineman and Daniel Stern of Mid-America represented the seller in the deal.
APPLETON, WIS. — Colliers International has brokered the sale of Concord Town Center, a multi-tenant retail center located at W31921 County Road KK in Appleton. Oasis Family Holding acquired the property from River Valley One for $4.5 million, or $185 per square foot. At the time of sale, the 24,287-square-foot property was 100 percent occupied. Mark Pucci of Colliers International | Wisconsin represented the seller in the transaction.
ST. LOUIS — Intelica CRE has arranged the sale of an office and warehouse facility located at 2316 Schuetz Road in St. Louis. Pohlman Metal Seal Precision acquired the property from Davidson Surface Air for $3.6 million. Situated on 6.7 acres, the property totals 97,000 square feet. Gary Parker and Dan Merlo of Intelica CRE brokered the transaction.
CHICAGO — Essex Realty Group has brokered the sale of an apartment building located at 53 W. Burton Place in Chicago’s Gold Coast. An undisclosed buyer acquired the property for $2 million. The six-unit building features four one-bedroom/one-bath units, one two-bedroom/one-bath unit and one three-bedroom/one-bath unit. Doug Fisher of Essex represented the undisclosed seller, while Jordan Gottlieb, also of Essex, represented the buyer.
ARLINGTON HEIGHTS, ILL. — Quantum Real Estate Advisors has arranged the sale of a multi-tenant retail property located at 2-18 S. Dunton Ave. in Arlington Heights, a northwest suburb of Chicago. An international real estate investment fund acquired the property from a Chicago-based investment group for $1.3 million. Built in 2006, the 8,195-square-foot street-level retail property is part of a 55-unit condo building. At the time of sale, the retail property was 100 percent occupied. Daniel Waszak of Quantum represented the seller in the deal.
DAWSONVILLE, GA. — Halpern Enterprises has opened the 45,600-square-foot Publix at Dawson Crossroads, a 98,400-square-foot shopping center located at the southeast corner of GA 400 and Dawson Forest Road in Dawsonville. The property is situated across the street from the North Georgia Premium Outlets and a Walmart Supercenter. Dawson Crossroads’ tenant roster includes PetSmart, Brooklyn Joe’s Pizzeria, Lee Nails, Great Clips, Totally Running and Top Cleaners. The property will also feature outparcel retailers such as Chili’s Bar & Grill, AT&T and Aspen Dental.
GLENDALE AND CHANDLER, ARIZ. — Meridian Capital Group has arranged $116.4 million to refinance four multifamily properties in Arizona. The four properties were financed in two separate loans. The first loan was for Tela Verde and Tuscany Palms in Glendale. The assets contain a total of 778 units. The properties in the second loan include Alante at the Islands and Laguna Village in Chandler. These assets contain a total of 780 units. Meridian originally financed these four properties as part of a seven-property portfolio acquisition loan on behalf of PB Bell Companies in July 2014. The firm sold the other three properties while repositioning the four assets included in this refinancing. Meridian’s Seth Grossman, Sarah Kuebler and Ryan Gandell arranged the two fixed-rate, non-recourse financing packages.
FLAGSTAFF, ARIZ. — Exchange Services has acquired The Lodge, a 252-unit luxury apartment community in Flagstaff, for $43.6 million. The community is located on Lake Mary Road just south of the I-17/I-40 freeway interchange. The Lodge was built in 2004. Exchange Services acted as an intermediary for SK5-ELA LLC (Keller Investment Properties LLC). David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller, Clear Sky Lodge LP, in this transaction. The company is a partnership between Clear Sky Capital and Narland Properties.
