ROCKLIN, CALIF. — Bass Pro Shops is planning to open a new 120,000-square-foot store in Rocklin. The new outpost will be a primary anchor for the 500,000-square-foot, mixed-use Rocklin Crossings development. It will be located at the intersection of Interstate 80 and Sierra College Boulevard in the Greater Sacramento area. The new store will feature an Uncle Buck’s Fishbowl and Grill. It is scheduled to open in 2015. This will be the company’s fourth California location. It currently operates stores in Rancho Cucamonga and Manteca, with a third San Jose outpost to follow shortly.
Retail
BOCA RATON, FLA. — Marcus & Millichap has arranged the $19 million sale of HSBC Plaza, a 46,000-square-foot retail shopping center at 19120 S. State Road 7 in Boca Raton. The property features a freestanding CVS/pharmacy and an HSBC Bank branch outparcel. Douglas Mandel and C. Todd Everett of Marcus & Millichap’s Fort Lauderdale, Fla., office represented the seller, the property’s developer, in the transaction. Mandel and Everett also advised the buyer. The retail center was 95 percent leased at the time of sale to tenants including Dunkin’ Donuts and Med Express.
AFFTON, MO. — Cushman & Wakefield | Gateway Commercial has arranged the sale of the former St. Louis Sports Center building, a 93,960-square-foot property in Affton, located about 10 miles southwest of St. Louis. Dennis DeSantis, Pat Reilly and Dan Bamberger of Cushman & Wakefield | Gateway Commercial represented the seller, Marywood Holdings LLC, in the transaction. Merritt Properties represented the buyer, Center St. Louis LLC. The property is located at 6727 Langley Ave. The purchase price was undisclosed.
MESQUITE, TEXAS — Marcus & Millichap has brokered the sale of Meadowcreek Shopping Center, a 22,812-square-foot retail property in the Dallas suburb of Mesquite. Constructed in 1986 on 2.82 acres at 1515 E. Kearney St., the center was 73 percent occupied at the time of the sale, with 65 percent of the leasable area under triple-net leases. Tenants include Convenient Food Mart, Curves, Centerstage Dance, Ebenezer Home Health and L. Karen Wilde DDS. Philip Levy of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Lisa Estrada, also of Marcus & Millichap, secured and represented the buyer, another private investor.
SAN DIEGO – Trigild has put its Coldwater/Silvercreek portfolio, which consists of 36 retail strip centers and two office properties throughout the nation, on the market. The San Diego-based firm was appointed the portfolio’s liquidating trustee this past October. It has enlisted Houston-based Allied Advisors to serve as the listing agent. The portfolio has an estimated value of $50 million. The firm is entertaining offers for individual strip centers and groups of properties, as well as the entire portfolio. The properties included in the portfolio are located in 33 cities and 17 states throughout the Southeast, West and Midwest, including Colorado, Utah, Iowa, Michigan, Illinois, Michigan, Louisiana, Wisconsin, Texas and Indiana. They were all built by a sole developer. The portfolio is currently 74 percent leased. Since its involvement, Trigild has renewed or extended leases on nearly 112,000 square feet of space within the portfolio. Properties included range in space from 9,000 square feet to 37,000 square feet. They contain between two and seven tenants. Most are shadow anchored by a Wal-Mart Super Store, and many feature national tenants as well, such as Dollar Tree, Game Stop and Radio Shack.
PORT ST. LUCIE, FLA. — HFF has arranged the sale of Publix at St. Andrews, a 65,271-square-foot neighborhood shopping center in Port St. Lucie. HFF represented the seller, a client portfolio managed by American Realty Advisors, in the transaction. Publix Super Markets Inc. purchased the unencumbered property for an undisclosed amount. The shopping center is located at 5455-5489 N.W. St. James Drive and is the only grocery-anchored center within a two-mile radius. The 11-year-old property is 87.1 percent leased to tenants including Hair Cutlery, Subway, H&R Block and the UPS Store. Danny Finkle and Luis Castillo of HFF led the sales team in the transaction.
CHAMPAIGN, ILL. — Quantum Real Estate Advisors Inc. has arranged the $3.1 million sale of a 24,300-square-foot, multi-tenant retail center located at 2012-2032 N. Prospect Ave. in Champaign, a suburb of Chicago. A private trust based in the western suburbs of Chicago sold the property. A Chicago-based private group purchased the retail center. Chad Firsel, president of Quantum Real Estate Advisors Inc., represented the buyer and the seller in the transaction.
NOVI, MICH. — Bernard Financial Group has arranged a $1.6 million loan for Pine Ridge Shopping Center, a 37,810-square-foot retail property in Novi, about 30 miles northwest of Detroit. Kevin Kovachevich of Bernard Financial originated the loan for Pine Ridge Associates LP. Bank of Ann Arbor provided the loan.
CARROLLTON, TEXAS — CBRE has brokered the sale of Hebron Heights Market, a 10,000-square-foot shopping center in the Dallas suburb of Carrollton. Located at 1008 W. Hebron Parkway, the unanchored property was fully leased at the time of the sale to tenants including Dunkin Donuts/Baskin Robins, Bahama Bucks, Wing Town, Chiro One Wellness Center and Quiznos. Jennifer Pierson and Beth Pierson of CBRE represented the seller, an affiliate of the Tabani Group. Jet Set Commercial purchased the asset.
SCOTTSDALE, ARIZ. — An entity formed by Jerry Simms has purchased Shea Scottsdale, a 160,228-square-foot retail center, for $44.5 million. The center was built in 1994 at 10653 N. Scottsdale Road in Scottsdale. It was 95 percent occupied at the time of closing. Shea Scottsdale is anchored by Safeway and CVS Pharmacy. Additional tenants include Wells Fargo, McDonalds, MidFirst Bank, Jason’s Deli and Arby’s. Simms was represented by Marty DeRito of DeRito Partners. Michael Hackett and Ryan Schubert of Cassidy Turley Capital Markets Group represented the seller, Karlin Real Estate, in this transaction. Karlin purchased Shea Scottsdale, along with the adjacent retail center Shea Scottsdale East, in October 2011 for $50.3 million. The company has retained ownership of Shea Scottsdale East.