AUSTIN — CBRE Capital Markets’ investment properties team has arranged the sale of a 5,162-square-foot retail building in a long-term, triple net lease to MedSpring Urgent Care. An unnamed Austin-based private investor purchased the asset for an unnamed price from The DuPont Group, an Austin-based real estate group. The property is 100 percent occupied by MedSpring Urgent Care, with 11 years remaining on a triple net lease. The property, located at 208 W. Ben White Blvd., was built in 2012 and is near St. David’s South Austin Medical Center and a P. Terry’s Burger Stand. Walter Saad, Cathy Nabours and Logan Reichle with CBRE represented the seller.
INGLEWOOD, CALIF. — Inglewood Plaza, a 101,329-square-foot community shopping center in the Los Angeles submarket of Inglewood, has sold to two buyers for a total of $27.4 million. The four-building center is located at 3100 – 3180 W. Imperial Highway. Three of the plaza’s four buildings sold to CCPT IV for $25.1 million. These buildings contain a total of 96,874 square feet. The remaining 4,455-square-foot building sold to G3H Investments LLC for $2.3 million. The seller, Howard Building LLC, was represented by Darrell Levonian, Justin D. Mendelson and Fred A. Sheriff of Charles Dunn Company. The team also worked directly with the two buyers. The center was built in 2008. It is situated near the Hollywood Park redevelopment project. That site will eventually include a hotel, renovated casino, offices, residences and two lakes.
TEMPE, ARIZ. — Popeyes Louisiana Kitchen will open a new 23,000-square-foot location at Elliot Plaza in Tempe. The new space will be located at the southwest corner of Elliot Road and Priest Drive. Popeyes’ second Tempe location is scheduled to open by the end of this year. The chain was represented by Velocity Retail Group. The landlord, TPP JV Maricopa LLC, was represented by Cliff Johnston, John Appelbe, Brad Douglass and Chris Hollenbeck of Cassidy Turley. Popeyes was founded in New Orleans in 1972. It is the world’s second largest quick-service chicken concept.
ONTARIO, CALIF. — A new retail duo has joined CBRE’s Ontario office. Ryan Gast and Dan Samulski will focus on projects of more than 100,000 square feet throughout the Inland Empire. The team has represented a variety of landlords in shopping centers throughout Southern California.
DALLAS — HFF has arranged a permanent loan for Lakewood Shopping Center, a 65,674-square-foot retail center in Dallas. HFF worked on behalf of the borrower, Lincoln Property Co., to secure the 15-year, fixed-rate loan through Aegon USA Realty Advisors LLC. Lakewood Shopping Center is located at 6400 Gaston Ave. on 4.3 acres near the Lakewood neighborhood. The center was completed in 1946 and renovated in 2012. The property is 91 percent leased to tenants including CVS Pharmacy, Sport Clips, RadioShack, Unleashed by Petco and Liberty Burger. Travis Anderson, Adam Herrin and Cory Fowler of HFF represented the borrower.
LAGO VISTA, TEXAS — BMC Capital’s Austin office has arranged for a $5.5 million refinancing loan for Lago Vista Town Center, a 62,093-square-foot shopping center in Lago Vista. Lowe’s Grocery and Ace Hardware anchor the shopping center, which is 20 miles northwest of Austin. The loan features a seven-year fixed rate of 4.5 percent and a 20-year amortization schedule. Hank Crane of BMC arranged the loan through one of BMC Capital’s correspondent banking relationships.
MAPLEWOOD, MINN. — Mid-America Real Estate Corp. – Minnesota LLC has brokered the $27.4 million sale of Birch Run Station in Maplewood, a suburb of Minneapolis. Greenwood Village, Colo.-based GDA Real Estate purchased the 278,347-square-foot retail center. Birch Run Station is located at the northwest quadrant of Beam Avenue and Southlawn Drive and is adjacent to the Maplewood Mall. Marshalls, Jo-Ann Stores, Burlington Coat Factory, Herberger’s and Dollar Tree anchor the shopping center. Joe Girardi and Rick Drogosz of Mid-America Real Estate represented the seller, Los Angeles-based RPD Catalyst.
COMMERCE TOWNSHIP, MICH. — Colliers International has arranged the sale of a 63,511-square-foot former Kroger grocery store in Commerce Township. Commerce Woods Shopping Center LLC purchased the property, located at 4788 Union Lake Road, for an undisclosed sales price. Brian Whitfield and Matthew Seeley of Colliers International represented the buyer. Planet Fitness will occupy 27,000 square feet of the building and will open for business before the end of the year. Whitfield and Seeley will handle leasing for the remaining 36,400 square feet of space.
ATLANTA — HFF has closed on the sale of a retail portfolio consisting of seven Publix-, Kroger- and BI-LO-anchored shopping centers totaling 513,723 square feet in Florida, Georgia, South Carolina and Texas. The properties include Kingwood Glen in Houston; Doral Isles in Miami; Barclay Crossing in Tampa; Deltona Landings in Orlando; Parkway Centre in Columbus, Ga.; Publix at Powder Springs in Atlanta; and Sweetgrass Corner in Charleston, S.C. Richard Reid, Danny Finkle, Ryan West, Rusty Tamlyn, Jim Hamilton and Luis Castillo of HFF represented the seller, a joint venture between BVT Equity Holdings Inc. and WealthCap, in the transaction. The seven retail assets had a combined 96.5 percent occupancy at the time of the sale.
RICHMOND, VA. — Cushman & Wakefield | Thalhimer has brokered the $1.9 million sale of a 15,220-square-foot retail strip center located at 7601 W. Broad St. in Richmond. C. Richmond Properties LLC purchased the asset from HM Real Estate Holding LLC. The strip center was fully leased at the time of the sale. Catharine Spangler and Bruce Bigger of Cushman & Wakefield | Thalhimer’s capital markets group represented the seller in the transaction.