OWOSSO, MICH. — Marcus & Millichap has arranged the $635,000 sale of a 45,150-square-foot self storage facility in Owosso, an eastern suburb of Flint. Owosso Mini Storage is located at 1003 W. Main St. Brett Hatcher of Marcus & Millichap’s Columbus office represented the seller, a limited liability company, and the buyer, another limited liability company. Steven Chaben of Marcus & Millichap’s Michigan office assisted in closing this transaction.
Retail
COLUMBUS, OHIO AND SAGINAW, MICH. — DealPoint Merrill has purchased three properties in Columbus, Ohio; Saginaw, Mich.; and Tucson, Ariz., for an undisclosed price. The properties include National Road Plaza, a 120,700-square-foot shopping center in Columbus; the 151,396-square-foot Bay View Plaza shopping center in Saginaw; and American Mini Self-Storage, a 53,400-square-foot building in Tucson. David Frank of DealPoint Merrill negotiated the transaction. Sterling McGregor of DealPoint Merrill handled the due diligence for the purchases. Mike Gustafson of Sperry Van Ness/DealPoint Merrill Equities, an affiliate of DealPoint Merrill, assisted with the investment capital. Mark Mimms and Mark Yadisernia of Sperry Van Ness/DealPoint Merrill Properties Corp., were the brokers. Greg Corlyn of First American Title Co. handled the title and escrow for the transactions.
NEW YORK CITY — B+B Capital has acquired a three-level retail condo at 377 Broadway in Manhattan’s TriBeCa neighborhood. Cooper Investors Inc. sold the 15,000-square-foot corner condo for an undisclosed price. Built in 1920, the property offers 4,500 square feet of retail space on the ground level, 1,200 square feet on the mezzanine level and 9,600 square feet on the lower level. Bracha New York at Keller Williams NYC represented the buyer and EPIC Commercial Realty represented the seller in the transaction.
SHREWSBURY, PA. — Joe Messina is developing Messina Highlands, a more than 36,000-square-foot shopping center in Shrewsbury. Slated to open this fall, the property will be occupied by Peoples Bank, Panera Bread, AT&T, Great Clips, Five Guys, Glamour Nails, Chipotle and Mattress Warehouse. Kevin Potter of Rhino Realty Group is marketing and leasing the property.
BARNEGAT, N.J. — Marcus & Millichap has brokered the sale of Union Plaza in Barnegat. Located at 575 North Main St., the 9,900-square-foot retail property sold for $1.1 million. Michael Lombardi of Marcus & Millichap’s New Jersey office represented the seller, a private investor, and Julienne Pape also of Marcus & Millichap’s New Jersey office represented the buyer in the transaction.
EAST ISLIP, N.J. — Sabre Real Estate Group has brokered a lease at Heckschere Plaza Shopping Center in East Islip. Pat’s Meat Farms Inc. will occupy 30,473 square feet at the 60,000-square-foot retail center located at 300 E. Main St. The new supermarket called Pat’s Marketplace is expected to open by third quarter 2014. The supermarket is owned by Pat LoCurto. Sabre Real Estate Group represented the lessee in the transaction.
HOUSTON — Hunington Properties Inc. has arranged the sale of Highway 6 at Westpark, a 15,600-square-foot retail property in Houston. The property consists of two retail buildings near the intersection of Highway 6 and Westpark Drive. Todd Carlson and Sandy Aron of Hunington represented the seller, a local developer. The buyer is a local investment group. Highway 6 at Westpark was built in 2008. The shopping center was 50 percent occupied at the time of sale.
SAN ANTONIO — Marcus & Millichap has arranged the sale of a 2,172-square-foot, net-leased Dairy Queen, located at 3301 Nogalitos St. in San Antonio. Rehan Rajab and Chad Knibbe marketed the property on behalf of the seller, a private investor. The buyer, a private investor, was secured by Stephen Berchelmann and Chad Knibbe. All are based out of Marcus & Millichap’s San Antonio office. One-third of an acre, the Dairy Queen has been in operation since 1976 and was renovated in 1995.
SANTA ANA, CALIF. — Cabrillo Park Shopping Center, a 72,500-square-foot, grocery-anchored center in Santa Ana, has sold to Palmdale Avenue S LLC for $12.2 million. The center is located at 1710-1730 E. 17th Street. It is 95 percent occupied and anchored by Superior Grocers. Other tenants include T-Mobile, Sally Beauty Supply, United Dental Care, Little Caesar’s and 4G Wireless. The buyerwas represented by Randy Ibara of Southern Pacific Investments. The seller, Hector Regner Properties – Cabrillo Park I, LLC, was represented by Randy Dalby of Lee & Associates San Diego North.
BRISTOL, TENN. — KeyBank Real Estate Capital has closed a $32.9 million construction loan for The Pinnacle, a 386,853-square-foot power center in Bristol. The Pinnacle’s tenant roster includes Belk, Marshalls, Michaels, Marquee Cinema, Ulta Beauty and Pier 1 Imports. Upon completion, Bass Pro Shops will anchor the center, which will span 1.3 million square feet and feature retail, restaurants, a hotel, medical office space and an outdoor pavilion.