NORWICH, CONN. — Lyman Real Estate Brokerage & Development has arranged the sale of a retail property located at 646 Boswell Ave. in Norwich. Goodlettsville, Tenn.-based Dollar General acquired the 1,558-square-foot property for an undisclosed price. The location formerly housed Seafood Etc. market. Matthew Darling of Lyman Real Estate represented the undisclosed seller, while Michael Alberico of Atlantic Retail Properties represented the buyer in the deal.
SOUTH PORTLAND, MAINE — David Lengyel, owner and chief caretaker of Willows Pizza, has leased the former SoPo Bar and Grill space at 740 Broadway in South Portland. SoPo Bar and Grill, which had been in operation since 2014, suddenly closed last week. Lengyel plans to relocate Willows Pizza from 1422 Broadway to the new 8,800-square-foot location and will be opening for business in November. Additionally, Lengyel plans to re-hire as many former SoPo employees as possible and expand the restaurant’s menu to include SoPo’s standard fare, including steaks and burgers. Cole Smith of CBRE | The Boulos Company brokered the transaction.
DEARBORN, MICH. — Mid-America Real Estate Corp.’s investment sales team has arranged the sale of Fairlane Meadows, a retail center located at the corner of Ford Road and Mercury Drive in Dearborn. Times Equities acquired the property from Ramco-Gerhenson Properties Trust for $20.6 million. The 157,225-square-foot center is occupied by Best Buy, Citi Trends, David’s Bridal, Five Below and Dollar Tree. Ben Wineman and Daniel Stern of Mid-America represented the seller in the deal.
APPLETON, WIS. — Colliers International has brokered the sale of Concord Town Center, a multi-tenant retail center located at W31921 County Road KK in Appleton. Oasis Family Holding acquired the property from River Valley One for $4.5 million, or $185 per square foot. At the time of sale, the 24,287-square-foot property was 100 percent occupied. Mark Pucci of Colliers International | Wisconsin represented the seller in the transaction.
ARLINGTON HEIGHTS, ILL. — Quantum Real Estate Advisors has arranged the sale of a multi-tenant retail property located at 2-18 S. Dunton Ave. in Arlington Heights, a northwest suburb of Chicago. An international real estate investment fund acquired the property from a Chicago-based investment group for $1.3 million. Built in 2006, the 8,195-square-foot street-level retail property is part of a 55-unit condo building. At the time of sale, the retail property was 100 percent occupied. Daniel Waszak of Quantum represented the seller in the deal.
DAWSONVILLE, GA. — Halpern Enterprises has opened the 45,600-square-foot Publix at Dawson Crossroads, a 98,400-square-foot shopping center located at the southeast corner of GA 400 and Dawson Forest Road in Dawsonville. The property is situated across the street from the North Georgia Premium Outlets and a Walmart Supercenter. Dawson Crossroads’ tenant roster includes PetSmart, Brooklyn Joe’s Pizzeria, Lee Nails, Great Clips, Totally Running and Top Cleaners. The property will also feature outparcel retailers such as Chili’s Bar & Grill, AT&T and Aspen Dental.
PORT ARTHUR, TEXAS — Agree Realty Corp. has acquired an 84,584-square-foot, net-leased retail property located in Port Arthur. The fully occupied center was renovated in 2014 and is home to tenants including Hobby Lobby, Party City and PetSmart. Ryan West and Matt Berry of HFF represented the seller, Baker Katz, in the transaction.
WESLACO, TEXAS — Planet Fitness plans to open a 19,413-square-foot gym at Weslaco Shopping Center in Weslaco in early 2017. The retail center, located at 1901 W. U.S. Route 83 in southern Texas, is managed by Cencor Realty Services. Tenants at the center include Ross Dress for Less, Bealls, Starbucks Coffee, Dollar Tree and Buffalo Wild Wings. Marcus Shaffer and Dan Mitchell of The Weitzman Group handled negotiations on behalf of the landlord.
FORT WORTH AND SOUTHLAKE, TEXAS — Cohen Financial has arranged two loans totaling $5.2 million to refinance two retail centers in the Dallas-Fort Worth area. The transactions included a $4.1 million loan for La Marina Plaza, a 30,000-square-foot retail center in Fort Worth anchored by Texas Health Resources, and a $1.1 million loan for Southlake Plaza, a 9,800-square-foot retail center in Southlake. Kevin Sellers of Cohen Financial’s Phoenix office secured the two fixed-rate, three-year loans through Commerce National Bank on behalf of the borrower, a local commercial real estate investor. The borrower plans to market and sell both assets within two years.
CHICAGO — Marcus & Millichap has brokered the sale of Southport Corridor Mixed-Use, a mixed-use property located at 1362 W. Belmont Ave. in Chicago. An individual/personal trust sold the 5,166-square-foot property to a limited liability company for an undisclosed price. The two-story building was vacant at the time of sale. Brewster Hague, Sean Sharko and Austin Weisenback of Marcus & Millichap represented the seller and buyer in the deal.
