CONCORD, CALIF. — KZ Companies has purchased Concord Terminal Shopping Center, a 41,400-square-foot shopping center near Walnut Creek, for $7.2 million. The center is located at 2677 and 2689 Clayton Road. It is occupied by CVS Pharmacy and Big 5 Sporting Goods. Concord Terminal was built in 1963. Kevin Van Voorhis, Henry Englehardt and Deborah Perry of Collier’s International represented the sellers, Logan Survivor’s Trust and Logan Non-Exempt Marital Trust.
LOS GATOS, CALIF. — A 6,452-square-foot, mixed-use property in Los Gatos that was formerly occupied by Bank of America has sold to an unidentified personal trust for $4.5 million. The space is located at 2 North Santa Cruz Ave. It was built in 1932. J.J. Taughinbaugh and Yuri Sergunin of Marcus & Millichap’s Palo Alto office represented the buyer.
HOLLYWOOD, FLA. — Marcus & Millichap has brokered the $18.8 million sale of Emerald Hills Extra Closet Self Storage, a 1,970-unit self storage facility in Hollywood. The 128,797-square-foot facility sold for roughly $146 per square foot. The property is situated on approximately 7.4 acres at 3090 Sheridan St. near I-95. The sales price is the highest paid for a single self storage property in Florida to date, according to Marcus & Millichap. Constructed in 1991 and expanded in 1998, the Emerald Hills facility has climate-controlled and non-climate controlled units, business records storage, recreational vehicle parking, video surveillance and electronic gate access. Michael Mele and Luke Elliott of Marcus & Millichap’s Tampa office represented the seller and procured the buyer.
HIGH POINT, N.C. — Avison Young has arranged the $6.3 million sale of Eastchester Shopping Center, a 63,306-square-foot shopping center anchored by Office Depot in High Point. The center is located at 274 Eastchester Drive. AJ Belt III and David Duckworth of Avison Young’s Fort Lauderdale, Fla., office represented the seller, MS Eastchester LLC, in the transaction. Verris Capital purchased the property. Tenants of the center include Dollar Tree, Plato’s Closet, Hooters and Dunkin’ Donuts.
EVANSTON, ILL. — Baum Realty Group LLC brokered the sale of a multi-tenant retail strip center in Evanston for $2.3 million. The site is located at 3330 Central St. in Evanston, 14 miles north of Chicago. The 3,235-square-foot strip center is divided into three suites and was 100 percent occupied at the time of the purchase. Several tenants include Starbucks, Subway and Kenny the Kleeners. A private out-of-state investor purchased the property. Greg Dietz and Danny Spietz of Baum Realty represented the private seller.
FENTON, MICH. — Gerdom Realty & Investment has brokered the sale of a 94,455-square-foot grocery-anchored shopping center north of downtown Fenton in Southeast Michigan. Located on Leroy Street, the property is anchored by VG’s Food Center. Other tenants on the 9.5-acre site include Rent-A-Center and BoRics. Gerdom Realty has been retained to lease the remaining two vacancies in the center, which is currently 83 percent occupied. Tjader Gerdom and Larry Siedell of Gerdom Realty & Investment represented the seller and procured the buyer, a private investment group.
CROSS ROADS, TEXAS — Alex Payne with Axis Realty Group and Everett Newland with Newland Real Estate represented Denton Fireman’s pension fund in the purchase of The Village at Cross Roads, a new 24,000-square-foot, Class A retail center in Cross Roads. Northbridge Management & Consulting, a commercial property management company owned by Axis Realty Group, will manage the asset moving forward.
FRESNO, CALIF. — Retail California, a division of Pearson Realty, has brokered two retail sales totaling 69,208 square feet in Fresno. In the first transaction, Fresno Coin Gallery Jewelry and Loan Inc. acquired a 9,208-square-foot retail space at 1727 E. Gettysburg Ave. from Dean & Arlene Sigle Trust. Michael Kennedy and John Lee of Retail California negotiated the transaction. In the second deal, Ag Land Joint Venture acquired a 60,000-square-foot retail building at 4550 and 4582 N. Blackstone Ave. from Rich Development/Gryphon Capital. Lewis Smith of Retail California, along with Mark Saito of Saito Company, brokered the transaction. The acquisition prices were not released for either sale.
SAN DIEGO — Friars-Riverdale Ltd has completed the disposition of Friars-Riverdale Center, a retail center located at 10383-01397 Friars Road in San Diego. Lai Family LP acquired the 32,696-square-foot property for $2.8 million. The property is fully leased to a mix of retail and office tenants. Brian Crepeau and Icela Galaz-Wittkopp of Pacific Coast Commercial represented the seller, while Judy Chou Hsieh of Greater Realty Inc. represented the buyer in the transaction. Renee Marshall of Chicago Title Company provided escrow services, and Ken Cyr, also of Chicago Title Company, provided title services.
GLENDALE, CALIF. — College Plaza, a 5,528-square-foot retail building in the Los Angeles submarket of Glendale, has sold to James Hsu for $6.3 million. The building is located at 1500 Canada Blvd. It was built in 2005. Notable tenants include Coffee Bean and Flame Broiler. The buyer was represented by Peggy Chen of Ko Tai Realty. The seller, Hovik Khatchaturian of Turian Properties, was represented by Alex Vasquez of Stevenson Real Estate Services.
