PLYMOUTH, WIS. — RCG Ventures Fund II has closed on its purchase of Plymouth Commons, a 162,031-square-foot shopping center 40 miles north of Milwaukee in Plymouth. The property is situated on 17 acres and anchored by Pick 'n Save and Kmart. Additional tenants include Dollar Tree, GNC and H&R Block. Kyle Matthews of Marcus & Millichap represented the buyer in the sale.
CHICAGO — Aviv REIT has acquired a skilled nursing facility in Idaho for $6 million. The property will be triple-net leased to Safe Haven Health Care, an existing tenant since 2008. Safe Haven operates 12 assisted living and skilled nursing facilities in Idaho, two of which are now leased from Chicago-based Aviv. Safe Haven's lease has a seven-year term.
CHICAGO — The Boulder Group has arranged the $7.5 million sale of a triple-net leased Walgreens property at 2345 W. 103rd St. in Chicago. The 13,650-square-foot Walgreens was built in 2004 and the company has 17 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based partnership, in the transaction. The buyer, a West Coast-based institution, was self-represented.
ST. LOUIS — McGrath & Associates has completed the renovation of the MRI facility at TenetCare, the outpatient diagnostic testing center of Saint Louis University Hospital. BSA LifeStructures was the architect. The two-phase renovation project replaced the existing imaging area with a new MRI exam room and dedicated control room, an updated lobby and new flooring. Construction began in December 2011.
NEWARK, DEL. — Cinemark plans to open a 17-screen theater at the Christiana Mall in Newark. Cinemark will join hunting, fishing and outdoor gear retailer Cabela's, which announced plans last week to open a new location at Christiana Mall. Cabela's will begin construction on a 110,000-square-foot store in 2013 with plans to open in 2014. Christiana Mall is a 1.1 million-square-foot shopping center with approximately 130 stores. General Growth Properties manages the property.
BROOKHAVEN, PA. — Katz Properties has acquired the Plaza 352 shopping center in Brookhaven for $12.3 million. The 207,000-square-foot center was built in 1972 and is located at 5005 Edgmont Ave. The property is anchored by a 59,000-square-foot Pathmark supermarket and a 102,000-square-foot Kmart. Paul Rumley of Metro Commercial Real Estate represented both parties in the transaction. Winslow Property Management will manage the center.
LANGHORNE, PA. — TMI Hospitality has opened the newly constructed SpringHill Suites by Marriott Philadelphia Langhorne. The 91-suite hotel is located at 200 N. Buckstown Dr. in Langhorne, approximately 30 minutes from downtown Philadelphia. Each guestroom features a large desk with an ergonomic chair, two phone lines and high-speed Internet access. Additional features include an indoor swimming pool and spa, fitness center and meeting room. The property is TMI's first hotel in the state, and the company plans to open its second hotel in Pennsylvania later this year.
NEW YORK CITY — Marcus & Millichap has arranged the $6 million sale of 4220-4228 Broadway, a 32-unit apartment property in New York City. Marco Lala of Marcus & Millichap represented the seller, a private investor, in the transaction. Peter Von Der Ahe represented the buyer, also a private investor. Lala has sold nearly a dozen New York City buildings on behalf of the seller, who is divesting of New York properties and acquiring suburban multifamily properties in New Jersey and Pennsylvania.
PARAMUS, N.J. — PGA Tour Superstore has signed a a lease for 57,000 square feet of retail space on Route 17 south in Paramus, at the former Einstein Moomjy Furniture store. The company will open its Golf and Tennis Pro Shop — the 15th national retail location for the chain — later this year. Michael Walters, Ronald Fotiu and Jill Gordon of NAI Hanson represented the property owner, Emil Buehler Trust Fund, in the transaction.
FORT WORTH — American Recovery Property Trust (ARPT) has acquired Western Place I & II, a 425,000-square-foot office complex in Fort Worth, for $34 million. The complex consists of two 10-story buildings and features tenants such as Lockheed Martin, BAE Information Systems, APEX Capital Corp. and Computer Science Corp. The transaction was ARPT's first real estate acquisition.