WELLINGTON, OHIO — Marcus & Millichap has brokered the sale of a retail property located ta 642 S. Main St. in Wellington. The 9,014-square-foot asset sold for $770,000. Dollar General currently occupies the property. Dan Yozwiak and John Reehil of Marcus & Millichap’s Columbus office represented the seller, a limited liability company, while Justin Fenn, also of Marcus & Millichap Columbus, represented the buyer, a limited liability company, in the transaction.
TAMPA, FLA. — Skanska has signed a $60 million contract to renovate and expand the Tampa International Airport (TPA) Main Terminal building in Tampa. When completed, the project will add 53,819 square feet to the terminal’s third-floor transfer level, with nearly 15,069 square feet of indoor public seating and large outdoor terraces. Skanska began construction of the expansion in December 2014. The renovation will begin in July 2015, and the total project is slated for completion in November 2017.
TRINITY, FLA. — The Sembler Co. has broken ground on the 65,000-square-foot Shoppes at Trinity Lakes, a Publix-anchored shopping center located in the southeast quadrant of State Road 54 and Trinity Boulevard in Trinity. In addition to the 45,600-square-foot Publix and 1,400-square-foot Publix Liquor Store, Sembler has signed leases with retailers new to the Trinity market, including Orange Theory Fitness, Moe’s Southwest Grill, China Wok, Nail Dior Lounge, Hair Cuttery and Majik Touch Cleaners. The secured leases total nearly 11,000 square feet. The Shoppes at Trinity Lakes also includes three outparcels, two of which are under contract.
DULUTH, GA. — Bull Realty has brokered the $6.9 million sale of The Walk at Johns Creek, a 43,112-square-foot retail strip center located in Duluth, a northeast suburb of Atlanta. The property is part of a larger mixed-use development, Johns Creek Walk, which comprises apartments and a bank. The strip center’s tenant roster includes Another Broken Egg, Coldwell Banker, Palomilla’s Grille and Maverick’s Steakhouse. John Harrison of Bull Realty represented the buyer, South Coast Commercial LLC, in the transaction. Jill Tanner of Tanner Real Estate represented the sellers, John’s Walk at John’s Creek LLC and Bob’s Walk at John’s Creek LLC.
WESTMONT AND HIGHLAND PARK, ILL. — Berkadia’s Chicago office has secured two loans, totaling $9.1 million, for two properties in Westmont and Highland Park. In Westmont, Bob Toland and Michael Slovitt of Berkadia arranged a $6.5 million loan for the acquisition of a two-tenant retail center, which is occupied by Hobby Lobby and Micro Center. Berkadia provided the 10-year loan through a life insurance company correspondent on behalf of the borrower, SCP Realty Fund II – Westmont LLC. In the second transaction, Aaron Abelson and Slovitt of Berkadia secured a $2.6 million loan to facilitate the acquisition of Fresenius Medical Care Highland Park, a dialysis treatment center in Highland Park. Berkadia arranged the 20-year loan through a life insurance company correspondent for the borrowers, Shepard-Warrenville I LLC and Shepard Warrenville II LCC.
DES PLAINES, ILL. — Brennan Investment Group has signed a new lease with Pet Food Experts at its newly construction warehouse facility in Des Plaines. Pet Food Experts will lease 98,785 square feet at the property, which is located at 1780 Birchwood Ave. The 140,000-square-foot industrial facility features 32-foot clear heights, ample loading, trailer parking and auto parking. The lease is slated to commence in third quarter 2015. Jonathan Kohn and Thomas Rodeno of Colliers International represented the landlord, while Daniel Smolensky of Modal Group represented the tenant in the transaction.
NEW YORK CITY — Silvershore Properties has acquired a mixed-use property, located at 149 Rivington St. in New York City’s Lower East Side, for $2.8 million. The buyer plans to redevelop the four-story, walk-up building into a larger property with additional residential and retail units by adding two floors to create two duplex apartments and build out the two retail floors on the lower level. No brokers were involved in the transaction. The name of the seller was not disclosed.
ENFIELD, CONN. — O,R&L Commercial has brokered the lease of 26,035 square feet of retail space in Enfield to Crown Furniture. The furniture store will join Dollar General, Whirly Ball and a local comic book store at the fully occupied 57,322-square-foot retail center at 481 Enfield St. Crown Furniture is relocating from its current space in West Springfield, Mass. Robert Gaucher of O,R&L Commercial brokered the transaction.
FRISCO, TEXAS — VCM Development has sold a 119,868-square-foot site in Frisco to Primrose Schools. The site is located at the northeast corner of Main Street and Teel Parkway in west Frisco. Primrose will anchor VCM Development’s Teel Crossing I shopping center. Vaughn Miller of VCM Development Group represented the seller, and David Shelton of CBRE / UCR represented Primrose. VCM is developing a 20,020-square-foot retail center adjacent to Primrose on the tract, which the VCM Commercial Real Fund acquired in 2014. BB&T provided $3.8 million of construction financing for the development. VCM Development Group LLC is a Dallas-based diversified real estate investment and development company, founded in 2013 by Vaughn Miller, oldest surviving son of Dallas real estate legend Vance C. Miller and grandson of Henry S. Miller Jr.
PEMBROKE PINES, FLA. — Continental Properties Acquisition Corp. (CPAC) has sold Palm Johnson Plaza, a 90,000-square-foot shopping center located in Pembroke Pines, for $8.5 million. Bar Invest, a Miami-based private investment group, purchased the center. Prior to the sale, CPAC completed a repositioning program, including parking lot upgrades, landscaping and new tenant build outs. Tenants of the center include anchor Winn-Dixie and junior anchor Planet Fitness. CPAC purchased the center in 2012 for roughly $3.2 million and has since brought the center’s occupancy from 54 percent to 86 percent.
