UNION CITY, GA. — King Industrial Realty/CORFAC International has brokered the sale of Shannon Mall, a vacant 90-acre shopping mall in Union City. The buyer, Atlanta-based Rooker, plans to demolish the mall and build up to 1.2 million square feet of warehouse, distribution and logistics facilities that will target e-commerce occupiers. Rooker purchased the property, which features 10 acres of outparcels, from Lee Group USA, MB-REO Retail, MB-REO Land and Sears, Roebuck & Co. Inc. Sim Doughtie of King Industrial Realty/CORFAC worked with Union City Mayor Vince Williams to rezone the retail site to industrial.
Retail
FORT MYERS, FLA. — The Ferber Co. has developed Chipotle Mexican Grill and a drive-thru Starbucks Coffee in the Shops at University, located at 10010 University Plaza Drive in Fort Myers. The new property spans 4,327 square feet and is the first Chipotle Mexican Grill in the Fort Myers area.
ATLANTA — OliverMcMillan has confirmed the names of 28 tenants that will join Buckhead Atlanta, the new 1.5 million-square-foot mixed-use development under construction in Atlanta’s Buckhead district. The first retailers and restaurants will open their doors in September, and the remaining tenants will open through the holiday season and early 2015. The tenants include: Akris (2,164 square feet) Bella Bag (1,178 square feet) Brunello Cucinelli (2,491 square feet) Canali (2,111 square feet) Christian Louboutin (1,787 square feet) diptyque (496 square feet) Etro (2,214 square feet) Helmut Lang (2,116 square feet) Hermès (4,100 square feet) Jimmy Choo (2,162 square feet) L’Occitane (2,784 square feet) Moncler (1,899 square feet) Scoop NYC (2,461 square feet) Spanx (2,999 square feet) Theory (2,580 square feet) Tod’s (2,101 square feet) American Cut (10,000 square feet) American F+B (6,370 square feet) Corso Coffee (1,596 square feet) Doraku Sushi (2,725 square feet) Georgetown Cupcake (2,700 square feet) Gypsy Kitchen (3,750 square feet) Le Bilboquet (3,686 square feet) Lugo Caffé (6,050 square feet) Shake Shack (2,500 square feet) The Southern Gentleman (3,750 square feet) Thirteen Pies (4,300 square feet) Qing Mu (2,725 square feet)
FARIBAULT, MINN. — Marcus & Millichap has brokered the $3 million sale of Western Avenue Marketplace, a 16,564-square foot retail property located in Faribault, approximately 50 miles south of Minneapolis. The property is located at 300 Western Ave. Matthew Hazelton and Adam Prins of Marcus & Millichap represented the seller, a limited liability company. Brian Klancke and Sean Doyle, also of Marcus & Millichap, represented the buyer, a private investor.
NOVI, MICH. — Bernard Financial Group has arranged a $2.6 million CMBS loan for Briar Pointe Plaza in Novi, a city approximately 30 miles northwest of Detroit. The shopping center includes 29,908 square feet of retail space. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan for the borrower, Briarwood of Novi Investors LLC.
CINCINNATI, OHIO — Phillips Edison-ARC Shopping Center REIT Inc. has purchased four grocery-anchored shopping centers in Illinois, Tennessee and Virginia for approximately $73 million. The properties include the Jewel-Osco-anchored Burbank Plaza in Burbank, Ill.; the Walmart Supercenter-anchored Hamilton Village in Chattanooga, Tenn., which is the REIT’s first property in Tennessee; the Kroger-anchored Statler Square in Staunton, Va.; and the Martin’s-anchored Waynesboro Plaza in Waynesboro, Va. The shopping centers total approximately 736,000 square feet. The REIT’s portfolio now includes 102 properties in 24 states.
GOLDSBORO, N.C. — Charlotte-based Faison Enterprises Inc. plans to develop Berkeley Corner, a 57,000-square-foot shopping center anchored by a 45,000-square-foot Dick’s Sporting Goods store. The property will be located in Goldsboro adjacent to Berkely Mall. Capitol Funds Inc. owns both Berkeley Corner and Berkeley Mall. Justin Schad of Faison & Associates LLC coordinated the development of the shopping center with the city of Goldsboro.
LOUISVILLE, KY. — Quantum Real Estate Advisors Inc. has brokered the $7.8 million sale of a 14,820-square-foot, freestanding Walgreens in Louisville. Walgreens has more than 24 years remaining on its lease. The buyer, a private individual from New York, purchased the asset from an unnamed Louisville-based developer. Jordan Kaufman and Dan Waszak of Quantum Real Estate represented the buyer in the transaction.
CONCORD, N.C. — Franklin Street Real Estate Services has arranged the sale of a freestanding 9,200-square-foot property housing AT&T and Denny’s for $5.6 million, or $603 per square foot. The asset is located at 8031 Concord Mill Blvd. in Concord, a northern suburb of Charlotte. Bryan Belk of Franklin Street represented the seller, a private investor based in California. The buyer is a private investor based in North Carolina who plans to hold the asset long-term.
OSHKOSH, WIS. — Marcus & Millichap has arranged the $3.2 million sale of a CVS/pharmacy ground lease in Oshkosh. The 13,225-square foot net-leased property is located at 1736 W. 9th Ave. Adam Prins and Matthew Hazelton of Marcus & Millichap represented the seller, a limited liability company. An outside brokerage firm represented the buyer, a trustee. Matthew Fitzgerald also of Marcus & Millichap assisted in closing this transaction.