ANN ARBOR, MICH. — Colliers International Ann Arbor has arranged the sale of a 19,020-square-foot retail building located at 3601 Plymouth Road in Ann Arbor. Green Road Retail LLC purchased the property for an undisclosed sales price. The building will be redeveloped and house Plum Market’s second Ann Arbor location. Plans include the addition of an outdoor café and a Zingerman’s coffee bar. The proposed 25,484-square-foot store is expected to bring 125 jobs to the Ann Arbor market. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor represented the seller, Cleary College, in the transaction.
PORTAGE, IND. — Quantum Real Estate Advisors Inc. has brokered the $3.2 million sale of a 15,930-square-foot shopping center in Portage. Grand Pointe Plaza is located at 6532-6546 U.S. Highway 6. Some tenants at the property include Dunkin’ Donuts, Firehouse Subs and Boost Mobile. The shopping center was fully occupied at the time of sale. A Chicago-based private real estate investor purchased the property from a local development group. Chad Firsel and Conor Bossy of Quantum Real Estate Advisors Inc. represented the seller in this transaction.
LAFAYETTE, LA. — CBL & Associates Properties Inc. and Stirling Properties have formed a joint venture to develop Ambassador Town Center in Lafayette. The 58-acre site at Caffery Parkway and Kaliste Saloom Road will house the 425,000-square-foot shopping center. The property’s tenant roster will include Costco, Dick’s Sporting Goods, Field & Stream, Marshalls, HomeGoods, Nordstrom Rack, Off Broadway Shoes, Chuy’s, Panera Bread and Freddy’s Frozen Custard & Steakburgers. Construction is set to begin this month and the property is slated to open in March 2016. Ambassador Town Center is expected to create 2,200 construction jobs and 1,000 permanent jobs.
TUCSON, ARIZ. – Sahuarita Plaza Shopping Center, a 160,000-square-foot retail power center near Tucson, has sold to Colt Valley Development Company for $12.2 million. The center is located at the interchange of I-19 and Duval Mine Road in Sahuarita. It’s anchored by Ross, Big Lots, PETCO, Jo-Ann Fabric and Crafts and Ace Hardware. The seller was Canada Life Real Estate LLC. The transaction was executed by Greg Furrier of Cushman & Wakefield | PICOR and Greg Valladao of Cushman & Wakefield.
DENVER – MonkeySports has opened its first superstore in Colorado. The 15,125-square-foot outpost is located at 6578 S. Yosemite Circle in Greenwood Village, just east of Littleton. MonkeySports is the nation’s largest retailer of hockey and lacrosse equipment. It also operates locations in California, Massachusetts, New Hampshire, New Jersey and Sweden. MonkeySports was represented by Frank Griffin of Newmark Grubb Knight Frank. The landlord was not named.
AURORA, COLO. – A 34,589-square-foot retail strip center in Aurora has sold to M&M Corporation LLC for $1.8 million. The five-building center is located at 3113-3191 Peoria Street. The property was leased to 16 retailers, many of which were long-term tenants, at the time of sale. M&M was represented by Lan Than of Landmark Real Estate Services. The seller, THS Properties LLC, was represented by Marc Lippitt, Scott Shwayder and Justin Herman of Unique Properties Inc. – TCN Worldwide.
MASSILLON, OHIO — Retail Properties of America Inc. has arranged a 50,500-square-foot retail lease in Massillon, approximately eight miles west of Canton. Dunham’s Sports will occupy the space within Massillon Commons located at SR 172. RPAI and Dunham’s Sports will renovate the space, which previously served as a grocery store. The store is expected to open this fall. The sporting goods store operates more than 200 stores in 19 states.
SOUTHFIELD, MICH. — Bernard Financial Group has arranged a $2.7 million loan to refinance an Applebee’s property in Southfield. The 5,430-square-foot building is a new construction. Dave Dismondy of Bernard Financial Group arranged the loan for the borrower, Kinaia-Ko LLC, through a life insurance company.
PHOENIX – A 3,848-square-foot building in Phoenix that is net leased to Raising Cane’s has sold to an unnamed buyer for $3.5 million. The space is located at 4506 E. Cactus Road. The seller, a developer, was represented by Jamie Medress and Mark Ruble of Marcus & Millichap’s Phoenix office.
MONROE, N.C. — Time Equities Inc. (TEI) has purchased Monroe Crossing Shopping Center, a 379,630-square-foot shopping center located at 2107-2133 W. Roosevelt Blvd. in Monroe, 25 miles southeast of Charlotte. The property’s tenant roster includes Belk’s flagship store, JC Penney, Sears, Hibbett Sports, Shoe Carnival, Buffalo Wild Wings and Planet Fitness. Cushman & Wakefield | Thalhimer represented the seller, Madison Marquette, in the transaction. TEI was represented internally by Ami Ziff and Jonathan Kim.