EMERSON, N.J. — The Hampshire Cos. has completed the disposition of a free-standing convenience store, located at 354 Kinderkamack Road in Emerson, for an undisclosed price. QuickChek, a New Jersey-based convenience store chain, leases the 4,700-square-foot property. Chris Bosworth of CBRE represented the seller in the deal. The name of the buyer was not released.
MOUNT OLIVE, N.J. — Marcus & Millichap has arranged the sale of ITC Crossing North, a retail property located in Mount Olive. A private investor sold the 47,750-square-foot property for $5.9 million. Michael Lombardi and Jason Petrick of Marcus & Millichap represented the seller and buyer, a private investor, in the deal.
CELEBRATION, FLA. — Stan Johnson Co. has arranged the $29.5 million sale of the Shoppes at Celebration Place, a 44,095-square-foot retail center located at 6200-6296 W. Irlo Bronson Memorial Highway in Celebration, roughly 3 miles south of Walt Disney World. Joey Odom, Mike Sladich, K.B. Yabuku and Maggie Holmes of Stan Johnson Co. represented both the seller, South Florida-based Flagler Realty & Development, and the buyer, New York-based Ben Hur Investments. At the time of sale, the Shoppes at Celebration Place was fully leased to tenants including Walgreens, Applebee’s, Arby’s, Dunkin’ Donuts, Chipotle Mexican Grill and Five Guys Burgers & Fries.
EAST LANSING, MICH. — Costco Wholesale Corp. has opened a 165,000-square-foot membership warehouse in East Lansing. The property is situated on a 64-acre parcel near I-69 that is the site of a former golf course. Shawn O’Brien of CBRE|Martin began working with Costco in 2012 for site selection in the Lansing market. This is Costco’s 15th store in the state of Michigan. A grand opening took place on Friday, Oct. 27.
HIGHLAND PARK, ILL. — Interra Realty has negotiated the sale of a CVS ground lease in Highland Park for $4.8 million. The 13,225-square-foot building is located at 2000 Skokie Valley Road, approximately 25 miles north of Chicago. Craig Martin and Colin O’Malley of Interra represented both parties in the transaction. The seller, a local real estate development firm, developed the property in 2011. The buyer, a local family, was completing a 1031 exchange. CVS has approximately 20 years remaining on its lease.
FLEMINGTON, N.J. — Sitar Realty Group has brokered the sale of a retail center located at 3 Walter Foran Blvd. in Flemington. Flemington Partners acquired the property from Arnav Investments for $5.6 million. The center features 36,408 square feet of retail space. Giorgio Vasilis of Sitar Realty Group brokered the transaction.
MILFORD, OHIO — The Cooper Commercial Investment Group has brokered the sale of a single-tenant property net leased to Starbucks in Milford, about 15 miles northeast of Cincinnati, for $1.8 million. The 2,107-square-foot retail property was newly constructed this year and features 10 years of initial lease term. Dan Cooper represented the undisclosed seller. A California-based buyer purchased the property.
OWATONNA, MINN. — Upland Real Estate Group Inc. has arranged the sale of Three Corners Marketplace in Owatonna, located in southern Minnesota, for $1 million. The 7,666-square-foot retail property is fully leased to four tenants including Caribou Coffee, Subway, Re-Bath and Midnight Sun Spas. Keith Sturm, Deborah Vannelli and Amanda Leathers of Upland represented the undisclosed seller. The private buyer was completing a 1031 exchange.
RICHMOND, TEXAS — Hunington Properties Inc. (HPI) has brokered the sale of Long Meadow Plaza Shopping Center, a 15,692-square-foot retail center located at 7909 W. Grand Parkway S. in the Houston metro of Richmond. Tenants include Wendy’s, Mattress One, Today’s Vision and Little Caesars, all of which are subject to seven-year, triple-net leases. Rafael Melara of Hunington represented the seller in the transaction. Other terms of sale were not disclosed.
ODESSA, TEXAS — The Woodmont Co., a Fort Worth-based brokerage and development firm, has closed the sale of a 24,000-square-foot, freestanding retail building located at 5161 E. 42nd St. in the west Texas city of Odessa. Gal Avneri of The Woodmont Co. represented the seller, RW Odessa Holdings LP, in the transaction. Joseph Williams of The Woodmont Co. represented the buyer, Altitude Trampoline Park. The building was formerly occupied by Staples.
