SAVAGE, MINN. — The Silver Group has arranged the $7.4 million sale of a single-tenant Walgreens at 4205 County Rd. 42 in Savage. Walgreens has approximately 21 years remaining on its lease. Barry Silver of The Silver Group represented the seller, a developer, in the transaction. The buyer was a family trust.
COLUMBUS — Qual-Med Supply has signed a 30,000-square-foot industrial lease at 2775 Westbelt Dr. in Columbus. Doug Falor of Cassidy Turley represented the tenant in the transaction. The landlord is Trident Capital Group.
GRAYLING, OSCODA, MICH. — Kmart Corp. has extended two store leases at shopping centers owned by Agree Realty Corp. in Grayling and Oscoda, Mich. The lease extension are for two years. Both locations are freestanding stores which opened in 1984. The Grayling store is 52,320 square feet and the Oscoda store contains 90,470 square feet. The extended leases will expire on Sept. 30, 2014.
NEW YORK CITY — A Century 21 store will be the anchor tenant for the second phase of Brooklyn's City Point, a 1.3 million-square-foot, mixed-use development in the center of downtown Brooklyn. The second phase includes two apartment buildings to be built atop a five-story retail podium. BFC Partners has been selected to develop Tower I, which will include 250 mixed-income rental units. The building will be financed through the NYC Housing Development Corp. and Mayor Bloomberg's New Housing Marketplace plan. The Brodsky Organization will develop Tower 2, which will contain 440 apartments. The second phase is expected to be complete in 2015. Acadia Realty Trust and Washington Square Partners are the master developers for the project.
AMHERST, N.Y. — Ellicott Development has started work on a new $28 million mixed-use development in Amherst. The 122,000-square-foot building will include a 120-room Wyndham Garden Hotel & Suites, 33 apartments and 3,500 square feet of ground-floor retail space. Trautman Associates Architects and Tedo Engineers of Buffalo, N.Y. designed the hotel. Concept Construction Corp. is the project's general contractor.
NEW YORK CITY — Marcus & Millichap has arranged the $23.6 million sale of 680 Saint Nicholas Ave., a mixed-use building in Manhattan. The property includes 117 apartment units, five retail tenants and a cell phone antenna. Peter Von Der Ahe, Scott Edelstein and Seth Glasser of Marcus & Millichap represented both the buyer and seller in the transaction.
NEWINGTON, CONN. — The Davison Co., a specialty food distributor, has signed a long-term lease for 120,500 square feet of warehouse and office space in the Newington Business Park. The company will relocate from its current operation in Wallingford, Conn., and expand. Ed Godin of Matthews Commercial Properties represented the tenant in the transaction. Chris Metcalfe and Bill Bronson of CBRE represented the landlord, The Hampshire Cos.
HOUSTON — ALDI has plans to enter the Houston market with 30 new stores and $100 million of capital expenditures in the next 3 years. ALDI is anticipating adding 400 new jobs for these new locations. The grocery chain currently has more than 1,200 stores in 32 states and 37 stores in Texas. The company opened 75 stores in 2011 and expects 80 new stores in 2012. The first ALDI stores in Houston will open in spring 2013, with more than 10 new locations.
LAPORTE — A joint venture between National Property Holdings and ML Realty Partners has broken ground on a 261,630-square-foot industrial property, located in the Port Crossing Commerce Center at S. 16th St. in LaPorte. The new property will feature 47 exterior docks, significant trailer storage and 16 rail-served doors. The property serves the Port of Houston and is located between the Barbours Cut and Bayport Container terminals.
SAN ANTONIO — Live Oak-Gottesman has acquired the 138,265-square-foot Centre Plaza, an office building located at 45 NE Loop 410 in San Antonio's North Central submarket. Live Oak has plans to make capital improvements to the office property, including new restrooms, a new and expanded conference room and a complete lighting retrofit. The property is 62 percent leased and Carolyn Hinchey-Shaw and Seth Prescott of Stream Realty will continue to lease the project.