CRESCENT SPRINGS, KY. — Cohen Real Estate has brokered the sale of Buttermilk Crossing, a 78,012-square-foot shopping center in Crescent Springs. The property was 94 percent leased at the time of sale to tenants such as Staples, Outback Steakhouse and Petco. Helen Putterman and Ric Kaiser of Cohen Real Estate represented the seller, a partnership based in New York, as well as the buyer, a New York-based real estate family. The family purchased the property for an undisclosed amount.
FREDERICKSBURG, VA. — Coldwell Banker Commercial Elite has brokered the $5.9 million sale of a 40,654-square-foot shopping center located at 27 S. Gateway Drive within the Carter’s Crossing retail development in Fredericksburg. The asset was 71 percent leased at the time of sale to PetSmart, Anytime Fitness, Aladdin’s Mediterranean Restaurant and a nail salon. Grace Street Properties LLC/Boosalis Properties purchased the property from Silver Cos. Joe Pfahler of Coldwell Banker represented the seller in the transaction. Geoff Lindsay of Capital Realty Advisors represented the buyer in the transaction.
DEERFIELD AND WESTCHESTER, ILL. — Reed Construction has completed two build-outs for Arden Realty in the metro Chicago area. In the first project, Reed Construction completed a 2,500-square-foot renovation to the Star Lite Café within the Deerfield office property located at 520 Lake Cook Road. Construction featured the installation of a new ceiling and lighting as well as millwork cabinetry, point-of-sale stations and walk-in coolers. In the second project, Reed completed an interior build-out at Lifestart Fitness Center located at 2 Westbrook Corporate Center in Westchester. The project included a 1,100 square foot build-out of the existing space, which included the addition of a new locker room area with tile showers, solider surface vanities as well as new lockers. Reed’s Jason Gunderson was the principal and Jon Zawiski was the project manager for both Arden projects. Legat Architects provided architectural services for the projects.
DEERFIELD, ILL. — Newmark Grubb Knight Frank (NGKF) has arranged the lease of 14,500 square feet at 500 Lake Cook Road in Deerfield. Market6, a provider of web-based retail collaboration applications, will occupy space within Corporate 500, a four-building office complex that includes more than 700,000 square feet of Class A office space. Market6 relocated to this space from a property at 9 Parkway North Blvd. in Deerfield. The firm also maintains an office in Cincinnati, Ohio. NGKF’s Brian Reaney and Paul Buckingham represented Market6 in the lease.
TERRELL, TEXAS — Oakridge Investments has completed infrastructure work for the Terrell Market Center development, located at the intersection of I-20 and U.S. Highway 80 in Terrell. This includes the expansion of FM 148 to four lanes and a new frontage road and off-ramp for westbound I-20. The completed infrastructure makes way for a 62,000-square-foot Buc-ee’s that will have 84 gas pumps on 19.5 acres. The store is expected to open in summer 2015. Along with Buc-ee’s, 52.5 acres are slated for future use by Baylor Scott & White, along with Starbucks, Dairy Queen and Whataburger.
SAN ANTONIO — San Antonio Commercial Advisors (SACA), a member of the Cushman & Wakefield Alliance, has arranged the sale of Timber Plaza, a 21,940-square-foot shopping center located at 6025 Tezel Road in San Antonio. Bradley Suttle of SACA represented the seller, a California-based partnership, in the transaction. A locally based private investor was the buyer. Built in 1985, Timber Plaza serves residents and visitors on the far west side of San Antonio at the corner of Tezel and Timber Path.
DALLAS, HOUSTON, MIDLAND and ODESSA, TEXAS — BB&T Corp. has completed the acquisition of 41 branches in Texas from Citibank. The branches will officially open as BB&T branches, making BB&T the 14th largest bank in Texas with 121 branches and $5.1 billion in deposits. The acquisition, which was announced in September 2014, includes retail branches in the Dallas, Houston, Midland and Odessa markets, including $2.2 billion in deposits and $81 million in loans based on Feb. 28, 2015, balances. BB&T received regulatory approval for the acquisition from the FDIC and the North Carolina Office of the Commissioner of Banks in February 2015. The $1.2 billion in deposits and $122 million in loans acquired previously are primarily in the fast-growing Austin, Bryan-College Station and San Antonio markets.
RIVERSIDE, CALIF. – A 7,508-square-foot building in Riverside that is triple-net leased to Citibank has sold to a local family trust for $4.8 million. The building is located at 3580 Tyler Street. It sits across the street from the Galleria at Tyler mall. The trust was represented by Shaun Riley of Faris Lee Investments. The seller, CP Sunshine, was represented by Equity Investment Advisors.
APPLE VALLEY, CALIF. – Rancherias Plaza, a 40,079-square-foot retail center in Apple Valley, has sold to Pacwest Management for $3.1 million. The four-building plaza is located at 20226 US Hwy 18. It sits across the street from Walmart, and adjacent to Apple Valley Commons. It was 40 percent occupied at the time of closing. Notable tenants include Domino’s, GNC, Boost Mobile and H&R Block. Pacwest was represented by David Wick of Marcus & Millichap. The seller, Huntington Beach Partnership, was represented by Brad Freeman of Freeman & Associates.
BOSTON — An affiliate of The Grossman Companies Inc. has acquired a self-storage facility in Boston’s Roslindale neighborhood. Located at 34-44 Lochdale Road, the 44,000-square-foot facility features 366 storage units, as well as 17,000 square feet of commercial space that is leased to two tenants. The property was purchased for $8.8 million, including a $6.4 million acquisition loan provided by Brookline Bank. The name of the seller was not released.