MUKWONAGO, WIS. — The Dickman Co. Inc./CORFAC International has completed the sale of an 11,400-square-foot retail building in Mukwonago, a city approximately 30 miles southwest of Milwaukee. The property is located at 723 N. Rochester Ave. Nathan Powers and Brian Riordan of Boerke Co. Inc. represented the buyer, 723 Rochester LLC. Dave Hazenfield of the Dickman Co. Inc. represented the seller, Cheryl A. Berg.
Retail
LITTLE ELM, TEXAS — Henry S. Miller Cos. has sold Little Elm Towne Crossing, a 170,000-square-foot retail property in the Dallas suburb of Little Elm. Henry S. Miller Cos. originally purchased the 21-acre parcel in 2005 and developed the neighborhood shopping center on the land in 2008. Tenants of the facility include anchors Hobby Lobby and 24 Hour Fitness, as well as Hibbets Sports, Planet Tan, Baskin-Robins and Monarch Dental. Robert Grunnah, Darrell Hurmis and Daniel Harris of Henry S. Miller Cos. arranged the sale. LETC Dunhill LLC acquired the asset.
SAN ANTONIO AND AUSTIN, TEXAS — Venture Commercial Real Estate has arranged two leases in Austin, as well as another lease and a land sale in San Antonio, on behalf of Fitness International LLC, which will open four new LA Fitness locations at the sites. John Zikos, Jonathan Cooper and Chris Booras of Venture worked with Walt Brown Jr. and Tim Dollander of Diversified Partners, master brokers for LA Fitness in the Southern U.S., on each of the deals. In Austin, Venture arranged a 40,000-square-foot lease at a facility to be constructed at 2020 W. Anderson Lane. In this arrangement, Alan Rust of Retail Solutions represented the unnamed landlord. Also in Austin, Venture arranged a 46,200-square-foot lease at a facility to be constructed in the Lamar Oaks shopping center, located at 4001 S. Lamar Blvd. In this lease, Adam Zmiel of The Weitzman Group represented the unnamed landlord. In San Antonio, Venture arranged a 45,000-square-foot lease at a facility to be constructed in the Vineyard shopping center, located at the corner of Loop 1604 and Blanco Road. In this deal, Thomas Tyng of REATA Real Estate Services represented the unnamed landlord. Finally, Venture arranged the sale of a six-acre parcel …
MORENO VALLEY, CALIF. – Alto Real Estate Funds has acquired TownGate Center, a 300,000-square-foot retail complex in Moreno Valley, for $47.2 million. The complex is located at 12625 Frederick Street, just east of Riverside. It is currently 91 percent occupied. Notable tenants include TJ Maxx, ULTA, AT&T, Chipotle, Chase Bank, Time Warner Cable, Wells Fargo Bank and Dollar Tree. TownGate was purchased by Alto through Alto Fund 2, the company’s new American investment vehicle. The transaction was financed with $15 million of equity, as well as a $32-million loan from Deutsche Bank. The loan carries a fixed interest rate of 4.55 percent.
OKLAHOMA CITY — Quantum Real Estate Advisors Inc. has brokered the $1.4 million sale of an 8,000-square-foot retail facility occupied by Family Dollar in Oklahoma City. The tenant had a full 10 years remaining on an initial 10-year net lease at the time of sale. Jordan Kaufman of Quantum represented the seller, a Houston-based developer, in the transaction. Chad Firsel, also of Quantum, represented the buyer, a California-based private investment fund.
ALISO VIEJO, CALIF. – A 25,960-square-foot property in Aliso Viejo that is triple-net leased to PetSmart has sold to RPM Catalina & Tanque Verde LLC for $8.1 million. The building is located at 26761 Aliso Creek Road within the Aliso Viejo Town Center. RPM Catalina was represented by Dennis Vaccaro of Faris Lee Investments. Vaccaro also represented the seller, a local partnership that had owned the property since it was constructed, along with Nicholas Coo.
SALINAS, CALIF. – A 22,500-square-foot retail building in Salinas that is occupied by CVS has sold to Robert Miles Living Trust for $5.2 million. The building is located at 662 E. Boronda. The trust plans to hold the property as an investment. It was represented by Matt Weaver, Al Apuzzo and Patrick Miller of Lee & Associates North County San Diego. The seller, LD&B Investment LLC, was represented by Brian Bethea of NAI Capital.
GROTON, CONN. — Marcus & Millichap has arranged the $5.2 million sale of a 34,944-square-foot retail property anchored by a Walgreens in Groton. Seth Richard and Laurie Ann Drinkwater of the firm marketed the property on behalf of the seller, a limited liability company, and represented the buyer, a private investor. Located at 441 Long Hill Road, the 24-hour store features a double drive-thru and separate exit.
LAS VEGAS — Capital Square Realty Advisors LLC has acquired a 14,378-square-foot retail location on the Las Vegas Strip that is net leased to CVS for a reported $30 million. The store is located at 2700 S. Las Vegas Blvd. on the ground floor of Sky Las Vegas, a luxury condominium. Sky Las Vegas is located near SLS Las Vegas and Resorts World Las Vegas, two new resorts that are currently under development on the north end of the Strip. CBRE’s Charles Moore and Marlene Fujita Winkel represented the seller, Sky Las Vegas Condominiums Inc., in this transaction.The senior debt for Capital Square was procured by Adam Levinson of BGC Capital Partners.
HOOVER, ALA. — Q10 | Professional Mortgage Co. has arranged financing for a 50,560-square-foot CarMax store, located at 2969 John Hawkins Parkway in Hoover. Bryson Thomason of Q10 arranged the $8.4 million, fixed-rate loan.