MORENO VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail building occupied by Smart & Final Extra! and Dollar Tree, which sold for just over $7 million. Ed Hanley and Bill Asher of Hanley represented the seller, Brad Becker of Becker Properties. The property was sold to GBF Investment LLC, represented by Bob Bonanomi of CBRE.
SAN DIMAS, CALIF. — Crunch Franchise, a New York-based gym chain, has opened a new location in San Dimas. It is located in Foothill Village Shopping Center. Chris Eyre is the franchisee. General manager Spencer Rich is the operator.
NEW YORK CITY — Cushman & Wakefield has arranged an $8.1 million construction/rehab loan for a corner retail property located in Brooklyn’s Prospect Park South. The loan features a three-year term, with extensions, at an interest rate of LIBOR (London Interbank Offered Rate) plus 4.25 basis points. The loan will cover 100 percent of the project costs, which include significant renovations to the existing building. Preston Flammang of Cushman & Wakefield handled the transaction. The name of the borrower was not released.
NEW YORK CITY — Marcus & Millichap has brokered the sale of a land parcel located at 137 Frost St. in Brooklyn. The 7,500-square-foot parcel sold for $5.3 million. Shaun Riney, Michael Salvatico and James Saros of Marcus & Millichap’s Brooklyn office represented the seller and buyer, both private investors, in the transaction.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use property located at 23 E. 17th St. in Manhattan’s Ladies’ Mile Historic District. The 10,998-square-foot property sold for $13.2 million, or $1,205 per square foot. Built in 1902, the six-story property consists of two ground-floor retail spaces, one second-floor commercial space and apartment units on the upper floors. Thomas Gammino Jr., John Ciraulo and Craig Waggner of Cushman & Wakefield brokered the transaction. The names of the buyer and seller were not released.
RANCHO CUCAMONGA, CALIF. — Crunch Franchise, a New York-based gym chain, has opened a new location in Rancho Cucamonga. The outlet is located in Foothill Marketplace. David Harman is the franchisee and general manager Spencer Rich operates the gym.
SEASIDE, CALIF. — Savills Studley’s National Retail Services Group has arranged the $16 million sale of a triple-net leased, 119,000-square-foot Home Depot located in Seaside. Kyle Miller and Bill Bauman of Savills Studley represented the seller, New York Life Real Estate Investors, in the transaction. Hovercraft LLC purchased the property at a cap rate between 3 and 4 percen. Home Depot’s lease runs through 2032.
MORENO VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail building in Moreno Valley occupied by Coast Dental office and TitleMax, which sold for $3.3 million. Ed Hanley and Bill Asher of Hanley represented the seller, MV-Perris LLC. It was sold to TC Enterprise Group LLC, represented by Charles Wong of CCRE Capital Commerce Inc.
JACKSON, TENN. AND HUNTSVILLE, ALA. — RCG Ventures Fund III has purchased West Towne Commons, a 168,210-square-foot shopping center in Jackson, and Madison Plaza, a 99,108-square-foot center in Huntstville, for an undisclosed price. Located at the intersection of Highway 45 and Oil Well Road, the West Towne Commons’ tenant roster includes T.J. Maxx, Stein Mart, OfficeMax and Petco. Target is also a tenant but was not involved in the transaction. RCG Ventures was represented internally by Jeff Miller, and Johnny Lamberson and Terry Radford of CBRE represented the seller. Located across from Madison Square Mall at Old Monrovia Road and University Drive, Madison Plaza is anchored by Haverty’s and Mission Thrift Store. RCG Ventures was represented internally by Scott Tarbet in the transaction, and Margaret Caldwell of JLL represented the seller.
SHREVEPORT, LA. — Lexington, Ky.-based BC Wood Properties has acquired North Market Place, an 88,205-square-foot shopping center located in Shreveport, for $7 million. Brookshire’s Grocery anchors the center. The grocer operates more than 150 stores in Arkansas, Louisiana and Texas. North Market Place is the first Louisiana shopping center in BC Wood’s portfolio, which includes 36 shopping centers comprising more than 5 million square feet.
