PLEASANTVILLE, N.J. — Marcus & Millichap has brokered the sale of a retail property located at 881 Black Horse Pike in Pleasantville. A developer sold the property to an undisclosed buyer for $2.1 million. Family Dollar net leases the 8,060-square-foot building. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap represented the seller in the deal.
CONROE, TEXAS — EDGE Capital Markets has brokered the sale of Montgomery Crossing, a retail property consisting of 69,000 square feet of inline space, three pad sites and a 2.3-acre development parcel. The property is located near the intersection of Interstate 45 and State Highway 105 in Conroe, about 40 miles north of Houston. Josh Jacobs and Burdette Huffman of EDGE represented the undisclosed seller in the transaction. Montgomery Crossing LLC/ShinMac Management purchased the asset for an undisclosed price.
LONG BEACH, CALIF. — SRS Real Estate Partners has arranged the sale of a restaurant property located in Long Beach. An undisclosed buyer acquired the property for $5 million, or $1,685 per square foot. The newly constructed 2,967-square-foot property is occupied by Carl’s Jr., which opened in July. Matthew Mousavi, Patrick Luther, Garrett Colburn and Townsand Cropsey of SRS represented the undisclosed seller in the deal.
HOLLYWOOD, CALIF. — Avison Young has brokered the sale of a retail and office property located at 6501 Hollywood Blvd. in Hollywood. A Los Angeles-based private investor sold the 7,000-square-foot property for $3.7 million. At the time of sale, the two-story property was fully leased. John Tronson and Steven Tronson of Avision Young represented the seller and buyer, a private investor from New York City, in the deal.
PARAMOUNT, CALIF. — Colliers Retail Foresight has arranged a lease for restaurant space at Clearwater Crossing, a 12,000-square-foot restaurant development in Paramount. Stinkin’ Crawfish will occupy 2,800 square feet of space at the property. James Rodriguez and Michael Bohorquez of Colliers represented the tenant and undisclosed landlord in the deal.
DAYTON, OHIO — Colliers International has brokered the sale of The Sugar Bell shopping center in Bellbrook, about 15 miles south of Dayton, for $2.4 million. The 19,904-square-foot property, constructed in 1997, is 100 percent leased. Tenants include El Toro, Cassano’s, Capital Cleaners and Crafters Lodge. Chris Prosser, Jeff Johnston and Steve Timmel of Colliers represented the seller, Belle Ventures. The Sun Moon Light Trust purchased the property.
GRAVOIS MILLS, MO. — Pinnacle Real Estate Advisors LLC has brokered the sale of a single-tenant retail property net leased to Dollar General in Gravois Mills, located in central Missouri. The sales price was not disclosed. The 9,100-square-foot property was constructed this year on a 4.4-acre site at 25568 Highway 5. The property is located on the Lake of the Ozarks, a Midwest lake resort destination. Dollar General has signed a 15-year lease, which features 10 percent rental escalations in each of the renewal option periods. Zach Wright and Jeff Johnson of Pinnacle represented the seller, a Midwest-based developer. Kevin Calame and Matt Lewallen of Pinnacle represented the purchaser, a Colorado-based 1031 exchange investor.
MINNEAPOLIS — Marcus & Millichap has arranged the sale of a 7,500-square-foot property net leased to O’Reilly Auto Parts in Minneapolis for $2.2 million. The building is located at 710 E. Lake St. Sean Doyle, Matthew Hazelton, AJ Prins and Cory Villaume of Marcus & Millichap marketed the property on behalf of the seller, an unnamed developer. The team also secured and represented the buyer, a California-based fund manager.
NEW YORK CITY — Equicap has closed a $16 million bridge loan for two retail properties located in the Bay Ridge section of Brooklyn for an undisclosed borrower. The loan was used to acquire two Santander locations that were owned by Santander Bank. Both locations included accompanying retail space, some of which was occupied and vacant. Daniel Hilpert of Equicap arranged the financing for the borrower.
NEW YORK CITY — Cleeman Realty Group has brokered two separate transactions in Brooklyn totaling $6.1 million. In the first deal, an undisclosed buyer acquired a three-story, 3,440-square-foot residential walk-up building in Brooklyn’s Fort Greene area for $2.5 million. The building features eight rental units, four of which are vacant. Zach Hering of Cleeman Realty represented the buyer and undisclosed seller in the transaction. In the second deal, an undisclosed seller sold a vacant mixed-use building located on St. Felix Street in Brooklyn for $3.5 million. The 4,600-square-foot property features five residential units and two floors of community space. The building has been vacant since it was built in 2007. Michael Cleeman of Cleeman Realty represented the seller, while Hering represented the undisclosed buyer in the deal.
