OLD SAYBROOK, CONN. — Marcus & Millichap has brokered the sale of a retail property located at 107 Main St. in Old Saybrook. An undisclosed limited liability company acquired the 3,690-square-foot property for $3 million. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap brokered the sale. The name of the seller was not released.
PHARR, TEXAS — Houston-based developer Levcor Inc. has received a $78 million loan to refinance existing construction debt on Pharr Town Center, a 466,950-square-foot retail center in the South Texas city of Pharr. Goldman Sachs provided the loan for the property, which currently houses tenants such as T.J. Maxx, Main Event Entertainment and Academy Sports + Outdoors. Tom Melody, Tom Fish, Jimmy Board and Jarrod McCabe of JLL arranged the financing.
ATASCOCITA, TEXAS — Los Angeles-based Westwood Financial Corp. has acquired Market at Lake Houston, a 101,791-square-foot, H-E-B-anchored retail center in the northeastern Houston suburb of Atascocita. Completed in 2002, the property was 100 percent leased at the time of sale to tenants such as GameStop, Sally Beauty Supply, Five Guys and Subway. HFF brokered the sale and arranged an undisclosed amount of acquisition financing through Nationwide Life Insurance Co.
GRAND CHUTE, WIS. — Colliers International | Wisconsin has brokered the sale of Grand Plaza in Grand Chute, near Appleton, for $5 million. The 23,720-square-foot retail center is located at 3404-3456 W. College Ave. HuHot Mongolian Grill anchors the multi-tenant property, which is 100 percent leased. Mark Pucci of Colliers represented the sellers, 111 Mall Drive LLC and 1200 South Koeller Street III. Jeff Slinde of Slinde Realty represented the buyer, Carey & Slinde Enterprises LLC. The sale equates to approximately $211 per square foot.
TRINITY, FLA. — Sleiman Enterprises has purchased Shoppes at Trinity Lakes, a shopping center located at 12500 State Road 54 and Community Drive in Trinity, roughly 30 miles north of Tampa, for $18 million. Cushman & Wakefield represented the Jacksonville-based buyer in the transaction. The Sembler Co. sold the asset. Constructed in 2016, Shoppes at Trinity Lakes comprises 67,334 square feet of retail space and is anchored by Publix. At the time of sale, the property was 96 percent leased to other tenants including GNC, Hair Cuttery, Heartland Dental, Mathnasium, Moe’s Southwest Grill, Nail Dior and Orangetheory Fitness.
DENTON, TEXAS — The Retail Connection has negotiated a 23,013-square-foot retail lease at 1400-1800 South Loop 288 in the North Texas city of Denton. David Levinson and Jack Weir of TRC represented the landlord, 3503 RP Denton Crossing LP, in the lease negotiations. Robert Aycock of CBRE represented the landlord, HomeGoods Inc., a Massachusetts-based home furnishings company and affiliate of the TJX Cos., which owns Marshalls and T.J. Maxx.
HONOLULU — Colliers International has arranged the $42.3 million sale of a flagship Walgreens store located across from Ala Moana Center in Honolulu. The single-tenant, net-leased property was sold by an entity affiliated with Salem Partners and Argosy Real Estate Partners. Tom Lagos of Colliers International spearheaded negotiations on behalf of the buyer, a Los Angeles-based Korean investment fund. The transaction was structured as a reverse 1031 exchange, which required the buyer to park a grocery-anchored property located in California with an Exchange Accommodation Titleholder (EAT). This enabled the buyer to purchase the Walgreens site now, and complete the sale of the grocery-anchored center — Hacienda Plaza — at a later date.
PHOENIX — Cushman & Wakefield has arranged the sale of Camelback Center, a 32,963-square-foot shopping center located in Phoenix. CVS/pharmacy and Total Wine anchor the center, which is fully occupied by tenants including Chipotle Mexican Grill, Massage Envy, European Wax Center and Jimmy Johns. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the undisclosed seller in the transaction. Perry Investment Trust purchased the property. Terms of the sale were undisclosed.
FORT COLLINS, COLO. — Otter Products, the company behind OtterBox phone cases, will soon open Otter Shop, a retail store in its hometown of Fort Collins. The first OtterBox was created in a Fort Collins garage in the mid-1990s. This first and only standalone retail location allows the company to showcase its line of products, beyond phone cases. In addition to OtterBox cases, mobile accessories, coolers and tumblers, the store will feature products from sister brand LifeProof, including the recently released AQUAPHONICS line of Bluetooth speakers. Visitors will also be able to print custom cases with their own images or select from dozens of patterns. Otter Shop will be located at 151 W. Mountain Ave. in downtown Fort Collins.
HAZELTON, PA. — Hinerfield Commercial has brokered the sale of a showroom and warehouse facility located at 485 Susquehanna Blvd. in Hazelton. Bradley International acquired the 51,000-square-foot property for an undisclosed price. The building is occupied by Nathan’s Furniture Store, which originally purchased the property in 1983. Griff Keefer and John Cognetti of Hinerfield Commercial handled the sale negotiations.