COLUMBUS — America’s Realty and ARCJ Capital LLC have purchased Great Western Shopping Center in Columbus from 410 Investments LTD. The property was purchased for an undisclosed amount. The 335,000-square-foot shopping center is located at the intersection of W. Broad St. and N. Wilson Road. The property is 72 percent leased and has access to I-70 and I-270. America’s Realty and ARCJ Capital LLC plan to renovate the property.
DALLAS — C1S Group, a Dallas-based engineering and construction firm, has restored a historic commercial building in Dallas’ Deep Ellum neighborhood. The property has been renovated to become the Bomb Factory, a new music venue. Clint and Whitney Barlow own the property. Westdale Real Estate Investment and Management is the developer. The venue is designed for live concert audiences from an early 20th century building. Originally an automotive plant and then a munitions factory during World War II, the Bomb Factory can now accommodate as many as 4,300 concert attendees. C1S Group transformed the 50,000-square-foot facility, located on Canton Street near downtown Dallas, by removing and replacing the existing roof structure in order to increase the overall facility height to 38 feet. This provides unobstructed views throughout and also allows for the addition of a mezzanine level for added capacity and to create a VIP area. The building contains a new stage, several bar areas, and artist amenities including including four dressing rooms, on-site laundry and workout facilities. The renovation also includes a new HVAC system as well as a new electrical system. The opening night performance on March 26 featured Dallas native and two-time Grammy winning performer Erykah Badu. …
BURLESON, TEXAS — Bloomfield Frontline Burleson Retail LLC has purchased a 17,860-square-foot shopping center located at 1055 SW. Wilshire Blvd. in Burleson. The company is a syndication partnership set up by managing partners Steve Fithian and Thomas Wilson. Clint Montgomery of Sperry Van Ness/Visions Commercial represented the seller, SPCP Group VI LLC. Built in 2008 on 2.3 acres, the retail center is located in the main Burleson retail corridor, adjacent to a Walmart. Tenants include CATO Fashions, Shoe Show, Fred Loya & Rodney D. Young Insurance, World Finance Corp. of Burleson and Perla Dental. The property was purchased through a real estate syndication set up by Fithian and Wilson.
MEMPHIS, TENN. — The Shopping Center Group is the leasing agent for a new retail center under construction at 6450 Poplar Ave. in east Memphis. Crown Centre LLC, an affiliate of Fogelman Investment Co., is developing the 29,000-square-foot retail center, which is adjacent to International Paper’s world headquarters. The building shell is expected to be complete in April.
CAMDEN, S.C. — ProVest Properties LLC has purchased Springdale Plaza, a 179,000-square-foot shopping center located in Camden, for $11.8 million. The property was 94 percent leased at the time of sale to tenants such as Belk, Burke’s, Farmer’s Home Furniture, Goodwill, Dollar Tree, Gamestop, Rue 21 and Hibbett Sports. Marc Birnbaum, Esq. represented Charles Vita of ProVest Properties in the negotiations.
CHARLESTON, S.C. — NAI Avant has secured retail tenants for all five available suites in The Grand at Midtown, a mixed-use apartment community located at the corner of Meeting and Spring streets in downtown Charleston. King of Pops, a gourmet popsicle company, and an unnamed retailer will join existing retailers Edward Jones, Bull Street Market and CHS Revolution at the property, which was formerly known as Elan Midtown. Phillipa Ward of Arthur Ravenel Commercial Realty represented King of Pops in the 615-square-foot lease transaction. Amanda Reeves of Lee & Associates represented the unnamed retailer in the 1,575-square-foot lease deal. Scott Peevy and Ruth Marie Embler of NAI Avant represented the landlord, Meeting Street Realty Co., in the lease negotiations.
MASHPEE, MASS. — Dividend Capital has acquired South Cape Village, a retail center in Mashpee, from Mashpee Investors LLC for $35.5 million. The 143,477-square-foot lifestyle center features a variety of tenants, including Roche Brothers, Marshalls, Walgreens, Olympia Sports and Santander Bank. Robert Griffin, Geoffrey Millerd and Justin Smith of Cushman & Wakefield negotiated the transaction on behalf of Mashpee Investors LLC.
CHICAGO — Mid-America Real Estate Corp. has brokered the sale of a former funeral home in the Lakeview neighborhood of Chicago. Stonestreet Partners LLC purchased the 12,500-square-foot building and 0.33 acres of land. The subject property is located at the northeast corner of Lincoln, Southport, and Wellington avenues. Stonestreet plans to redevelop the former funeral home into a space that will include retail and residential property. Paul Bryant and Andrew Becker of Mid-America represented the seller, a private family and land trust. Kevin Boyd of SRS Real Estate represented the buyer.
NEW YORK CITY — CPEX has arranged the sale of a retail property located at 2038-2050 Flatbush Ave. in Brooklyn. The 15,000-square-foot property sold for $4.5 million, or $300 per square foot. The four-unit property was 76 percent occupied at the time of sale. Current tenants are Telco Stores and Sports Physical Therapy of NY. Andre Sigourney and Harrison Balisky of CPEX’s retail sales team represented the seller and buyer in the transaction. The names of the seller and buyer were not released.
MISSION VIEJO, CALIF. – La Paz Gateway, a 6,000-square-foot retail center in the Orange County submarket of Mission Viejo, has sold to an unnamed buyer for $5.5 million. The Class A center is located at the intersection of Muirlands Boulevard and La Paz Road, off Interstate 5. It is fully occupied by three tenants, including Roberto’s Taco Shop, Ortho Mattress and Beach Hut Deli. La Paz Gateway was built in 2007. Both the buyer and seller were represented by Scott Hook of Hook Retail Advisors/Coldwell Banker Commercial (CBC) Alliance Orange County.
