MARIETTA, GA. — Rothenberg-Rosenfield has acquired the 316,000-square-foot Marietta Trade Center, a shopping center located on Cobb Parkway in Marietta, from EDENS for $32.8 million. Walmart Supercenter anchors the center, which is 97 percent leased. As part of the transaction, Rothenberg-Rosenfield assumed a CMBS loan on the property. Richard Reid of HFF represented the seller in the transaction.
ATLANTA — Atlanta-based The RADCO Companies has acquired a three-property, 402-unit multifamily portfolio, located in Georgia, for $13.7 million. The sale included the 112-unit Ashford Place Apartments in Griffin, the 160-unit Briar Creek Apartments in Conyers and the 130-unit Sierra Place Apartments in Atlanta. RADCO had been the asset manager for the portfolio on behalf of an equity fund for five years. The company plans to invest nearly $1 million in capital improvements during the next six to 12 months. The transaction also included the acquisition of the equity and a restructure of the existing debt on the property.
VIERA, FLA. — Viera-based Viera Commercial Properties has arranged the $11.9 million sale of six Christian Brothers Automotive stores. The single-tenant properties total more than 29,000 square feet, and are located in Lake Worth and Schertz, Texas; Collierville and Hendersonville, Tenn.; Grayson, Ga.; and Monument, Colo.
SUWANEE, GA. — A partnership between Marietta, Ga.-based Columbia Properties and New York City-based Red Starr Management has purchased the 70,000-square-foot Suwanee Depot Shopping Center, located on Lawrenceville-Suwanee Road in Suwanee, for $5 million. Office Depot and Bodyplex Fitness anchor the center, which is 80 percent leased. The seller was Suwanee Depot Partners.
CHICAGO — Weis Builders, The Davis Group and VOA Associates have teamed to begin work on the second phase of Lake Park Crescent in Chicago. The multi-phase redevelopment will replace the 1960s-era public housing and provide mixed-income housing within both low and midrise buildings. The Davis Group has contracted Weis Builders to add a total of 132 units to the community, which is situated along Lake Michigan. The second phase will include the construction of a midrise building, three-story parking ramp, several low-rise buildings and the completion of sitework for these, and future buildings.
CLEVELAND AND TOLEDO, OHIO —Shopper's World plans to open a 52,000-square-foot location in Westown Square in Cleveland and a new 50,000-square-foot store in Manhattan Plaza in Toledo. In Cleveland, the department store will join Save-A-Lot, Family Dollar and Value World. At the Toledo location, additional retailers include Save-A-Lot, Citi Trends and Family Dollar. Shopper's World carries full lines of clothing as well as an assortment of shoes, linens and home decor. Greg Guyuron of Kowit & Passov Real Estate Group exclusively represents Shopper's World throughout northern Ohio.
CHICAGO — Marcus & Millichap has arranged the $1.9 million sale of 1801-1811 North Clybourn, an apartment and retail property in Chicago's Lincoln Park neighborhood. The property has been owned by a private trust since the 1930s. The building includes seven apartments and one retail unit with a full basement. The retail space previously housed the US Beer Company. Kyle Stengle of Marcus & Millichap represented the seller in the transaction. Stengle and Stephen Rachman, also of Marcus & Millichap, represented the buyer.
CHICAGO — Stainless Sales Corp. has signed a lease for 38,812 square feet at 2310 W. 57th St. in Chicago's South Side. The facility is located near the company's other south Chicago location. Matt Rogatz of Chicago Industrial Real Estate represented the building owner in the transaction. Steve Kohn of Colliers International represented the tenant.
WILTON, CONN. — Kimco Realty Corp. has acquired Wilton Campus Shops, a 97,000-square-foot retail center at 5 River Road in Wilton, for $39.7 million. The shopping center is part of a larger mixed-use complex known as Wilton River Park. Wilton Campus is 98 percent occupied and is anchored by a 47,000-square-foot Stop & Shop. The grocer is flanked on both sides by more than 20 specialty shops and restaurants. Kimco acquired the property from Keblan Properties. With the acquisition, the company now owns 70 centers in the New York metro area.
NEW YORK CITY — Aimco has acquired The Milan, a 92-unit apartment building at 118-122 West 23rd St. in Chelsea for $39 million, or $750 per square foot. The 15-story building contains ground-floor retail and a mix of one-, two- and three-bedroom units. Each unit features an outdoor terrace and floor-to-ceiling windows. Capital One Bank occupies approximately 10,000 square feet of retail space on the ground floor and basement. Paul Smadbeck, Brock Emmetsberger and James Nelson of Massey Knakal represented both parties in the transaction.