LOS GATOS, CALIF. – A 12,800-square-foot retail property in Los Gatos has sold to a limited liability company for $6.1 million. The property is located at 102 South Santa Cruz Ave. It was built in 1974. Notable tenants at the property include 101 Broadway and The Spa. The LLC was represented by Anh Stovall, J.J. Taughinbaugh and Yuri Sergunin of Marcus & Millichap’s Palo Alto office.
SAN DIEGO – A 9,945-square-foot retail property in San Diego has sold to Howard Park of 1999 Park Family Trust for $2.7 million. The property is located at 7763-67 Balboa Ave. The space was originally built for Color Tile, which occupied the property for more than 20 years. The new owner, which also owns T-Shirt Mart and several related retail stores, will upgrade the property. The trust plans to occupy about 60 percent of the space.
CONROE, TEXAS — Bellomy & Co. has arranged the sale of Preferred Mini Storage in Conroe, 40 miles north of Houston. The Class A property has 407 climate and non-climate controlled units in 42,240 rentable square feet. It was built in 1995 and 1997 on 3.6 acres and was 95 percent occupied at the time of sale. Bill Bellomy, Michael Johnson and John Owens negotiated the transaction on behalf of the unnamed seller and the buyer, a Houston-based partnership.
MARIETTA, GA. — Colliers International’s Southeast retail investment sales team has brokered the sale of two shopping centers in the Atlanta suburb of Marietta totaling $14.4 million. The two assets include the 88,369-square-foot Home Center Village and the 206,828-square-foot Marietta Plaza. Home Center Village is 90 percent leased to tenants such as Dollar Tree and Anna’s Linens and includes Walmart Supercenter as a shadow anchor. The Geneva Group purchased Home Center Village from Mimms Enterprises for roughly $6.9 million. Marietta Plaza is anchored by Burlington Coat Factory. The Simpson Organization purchased the asset for roughly $7.5 million. Joe Montgomery and Tony D’Ambrosio of Colliers International represented the sellers in both transactions.
SICKLERVILLE, N.J. — Katz Properties of New York has purchased Gloucester Town Center, a shopping center in Sicklerville, for $10.3 million. Located at 509-543 Berlin Cross Key Road and built in 2003, the 107,220-square-foot center is anchored by a 57,560-square-foot Acme supermarket. Additional tenants include Dollar Tree, Columbia Bank, STS Tire, Hallmark, Slim Chicks Fitness, Marco’s Pizza, Brite Cleaners, Nail Tech and Post Net. Brad Nathanson of CBRE Philadelphia represented both the buyer and seller in the transaction. Tim Breda of Goedecke & Co. arranged mortgage financing for the shopping center.
LAS VEGAS – A 4,320-square-foot building in Las Vegas that is leased to Krispy Kreme donuts has sold to Richmond-Southpoint 10 LLC for $3 million. The building is located at 9791 S. Eastern Ave. The LLC was represented by Jeff Berg and Mica Berg of Sun Commercial Real Estate. The seller, BSWC Properties LLC, was represented by Cathy Jones, Paul Miachika, Jessica Cegavske, Roy Fritz and Cash Jordan of the same firm.
DALLAS AND AUSTIN — Four new locations of the Austin-based fast casual restaurant VERTSKEBAP, including three in the Dallas area and one in Austin, are set to open by the end of the year. The new locations will be at 5100 Beltline Road in Addison, 859 State Highway 21 in Lewisville, the corner of Highway 75 and Walnut Hill Road in Dallas and in the South Shore District in Austin. The new stores will bring VERTSKEBAP’s storefront count to 20. Earlier this year, the company opened three new locations in Austin and six in Houston. VERTSKEBAP plans to continue expansions in Dallas, Houston and San Antonio in 2015. The restaurants are built around Doner Kebap, a popular street food in Germany.
ROCKWALL, TEXAS — Marcus & Millichap has arranged the sale of The Towers Self Storage, a 123,619-square-foot self-storage facility located in Rockwall, a suburb of Dallas. Brandon Karr and Danny Cunningham of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Karr also represented the buyer, a limited liability company. The Towers Self Storage is located at 159 Riding Club Road. The facility contains 191 climate-controlled units, 160 drive-up units, 58 interior units, 90 warehouse units, seven office spaces and 25 boat/RV spaces. The property also features roll-up doors, 36 cameras, keypad entry, perimeter fencing and lighting.
FRISCO, TEXAS — HFF has arranged the sale of Eldorado Market Place, a 162,331-square-foot grocery-anchored retail center in Frisco, a suburb north of Dallas. HFF marketed the property on behalf of the seller, WD Eldorado & Tollway LP, an affiliate of Duggan Realty Advisors LLC and Waitt Investments. An affiliate of Fidelis Realty Partners LTD purchased the asset for an undisclosed amount. Eldorado Market Place is located at the northwest corner of the Eldorado Parkway and the Dallas North Tollway. The property was built in 2008 and is 99 percent leased to 35 tenants including Market Street, PetSmart, RE/MAX, The UPS Store and AT&T. Doug Hazelbaker and Ryan Shore of HFF represented the seller.
ANN ARBOR, MICH. — Gerdom Realty & Investment has arranged the lease of a 2,600-square-foot space in Ann Arbor. Coralville, Iowa-based Pancheros Mexican Grill will occupy space within Pittsfield Place, a new shopping center located at Ann Arbor-Saline Road. Versa Cos. developed the property. Tjader Gerdom and Larry Siedell of Gerdom Realty & Investment represented Pancheros in the transaction. This will be the second Pancheros in Ann Arbor. The new location is expected to open in the first quarter of 2015.