BRYAN, TEXAS — Marcus & Millichap has brokered the sale of Mid Town Center, an 18,412-square-foot retail center located at 3800 S. Texas Ave. in Bryan. Located approximately one mile from Texas A&M University, the property was 85 percent occupied at the time of sale. Michael Buckner and Richard Mireles of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Gus Lagos and Evan Altemus, also with Marcus & Millichap, procured the buyer, a private investor.
POTTSTOWN, PA. — CBRE has arranged the sale of Town Square Plaza, a power center located at 1100 Town Square Road in Pottstown. Bluejay Management acquired the 215,610-square-foot property from Retail Properties of America for an undisclosed price. Built in 2004, the property was 98 percent occupied at the time of sale. A 134,574-square-foot Lowe’s Home Improvement Warehouse anchors the property. Other tenants include PetSmart, Michaels, Rite Aid Pharmacy, BB&T Bank, Mattress Firm, Hair Cuttery, LongHorn Steakhouse, AT&T and H&R Block. Brad Nathanson and John Colussi of CBRE represented the seller and identified the buyer in the deal.
OAKDALE, N.Y. — Breslin Realty has arranged the sale of a retail property located at 1230 Montauk Highway in Oakdale. An undisclosed buyer acquired the 17,424-square-foot property for $1.2 million. The buyer plans to use the property as the site of a future gas station and convenience store. Bill de Seve and Russ Lico of Breslin Realty negotiated the transaction.
KENDALLVILLE AND ANGOLA, IND. — The Boulder Group has negotiated the sale of two single-tenant properties net leased to Jiffy Lube in Indiana for $2.4 million. The properties are located at 317 W. North St. in Kendallville and 640 N. Wayne St. in Angola. The two locations were recently renovated with additional drive-in bays. There are more than 15 years remaining on both Jiffy Lube leases, which expire in December 2032. A private investment group was the buyer and a global real estate fund was the seller. Randy Blankstein and John Feeney of The Boulder Group represented both parties in the sales transaction.
GREENSBORO, N.C. — NorthMarq Capital has arranged $18.5 million in refinancing for New Garden Crossing, a 168,950-square-foot retail center located in Greensboro. Mark Jeffries of NorthMarq Capital’s Denver office structured the refinance with a 10-year term and 30-year amortization schedule. Lowe’s Foods, Marshalls and HomeGoods are among the tenants at the property.
EAST NORTHPORT, N.Y. — Island Associates has arranged the sale of a retail property located at 295 Larkfield Road in East Northport. An undisclosed buyer acquired the 12,000-square-foot property for $2.5 million. Roger Delisle of Island Associates was the sole broker in the transaction. The name of the seller was not released.
YARDLEY, PA. — TriGate Capital has completed the disposition of Lower Makefield Shopping Center, a shopping center located at 700 Stony Hill Road in Yardley. Inland Institutional acquired the 74,953-square-foot property for an undisclosed price. Giant Food Store, Rite Aid Pharmacy and First Choice Bank occupy the property. Brad Nathanson and John Colussi of CBRE represented both the seller and buyer in the transaction.
MAGNOLIA, TEXAS — Marcus & Millichap has brokered the $4 million sale of a 19,054-square-foot retail property leased to Aldi located at the intersection of FM1488 and Conroe Huffsmith Road in Magnolia, about 45 miles north of Houston. Nate Newman and Vincent Knipp of Marcus & Millichap represented the seller, an undisclosed developer, in the transaction. Other terms of sale were not released.
BOSTON — L3 Capital and LaSalle Investment Management have purchased a vacant commercial building located at 399 Washington St. in Boston’s Downtown Crossing for an $63.2 million. The buyers will renovate and rebrand the 74,500-square-foot building as DTX 399. The building will offer six levels of retail and creative office space. Evan Papanastasiou of Eastern Consolidated represented the seller, Robert Posner, while Adelaide Polsinelli, also of Eastern, procured the buyer in the deal. The owners have retained Colliers International to market the property for lease.
HILL COUNTRY VILLAGE, TEXAS — San Antonio Commercial Advisors (SACA) has brokered the sale of The Alley on Bitters, a 30,000-square-foot shopping center located at 555 W. Bitters Road in the San Antonio metro of Hill Country Village. Bradley Suttle of SACA marketed the property on behalf of the seller, Artisans’ Alley Inc. and procured the buyer, a private trust.
