WOODRIDGE, ILL. — Sperry Van Ness has arranged the $2.2 million sale of a 13,309-square-foot multi-tenant restaurant property in Woodridge, which is approximately 30 miles west of Chicago. The property is located at 6320 Route 53 and is comprised of two independent restaurant spaces. Tilted Kilt leases one of the spaces. The other restaurant space is vacant and available for lease. Vincent D’Amico of Sperry Van Ness represented the undisclosed seller in the transaction. The buyer was a national investor that specializes in restaurant properties.
Retail
KENNER, LA. — Marcus & Millichap has brokered the $55 million sale of a 174,522-square-foot Home Depot located at 2625 Veterans Blvd. in Kenner. Bob Horvath and Todd Tremblay of Marcus & Millichap’s Boston office represented the buyer, Kleban Holdings, in the transaction. William Hoffpauir of Marcus & Millichap is the firm’s broker of record for Louisiana. Eric Carlton of Colliers International listed the property.
BALTIMORE CITY, MD. — Atlantic Realty Cos. has purchased Alameda Marketplace, a 113,000-square-foot shopping center located at 5600-5658 The Alameda in Baltimore City, for approximately $11.3 million. Atlantic Realty purchased the property from Continental Realty Corp. The asset was 95 percent leased at the time of sale to Stop Shop Save, Rite-Aid, Family Dollar, Goodwill, Bank of America, Rainbow and Rent-A-Center. Gil Neuman led The Greysteel Co. team in representing the seller and procuring the buyer.
MONTROSE, OHIO — JLL has brokered the $32.5 million sale of Market Square at Montrose, a 510,231-square-foot retail center. The property is located at 3472 Brookwall Drive in Montrose, which is approximately 28 miles south of Cleveland. Anchor stores at Market Square at Montrose include The Home Depot, JC Penney, Levin Furniture, Dick’s Sporting Goods, Regal Cinemas, Toys ‘R’ Us and Cost Plus World Market. Kris Cooper, Margaret Caldwell and Becky Wells of JLL represented the seller, LaSalle Investment Management Inc. Brooklyn-based HP REALTY LLC purchased the property.
GREENWOOD, IND. — Lee & Associates has arranged the lease of a 2,160-square-foot retail space in Greenwood, a suburb of Indianapolis. Moody Retail Shops LLC will occupy space in Village Commons I located at 862 S. State Road 135. Cathy Richards of Lee & Associates represented the tenant. Scot Courtney and Bart Jackson of Lee & Associates represented the landlord, VC-1 LLC.
SALEM AND MANCHESTER, N.H. — Linear Retail Properties has refinanced two retail properties in New Hampshire. Needham Bank provided $8.24 million in loans for the two properties. The 27,353-square-foot Salem Village, located at the intersection of South Broadway and Pond Street in Salem, is occupied by Pet Life, Sherwin-Williams and AutoZone. The fully leased 9,870-square-foot Manchester Shopping Center in Manchester was renovated by 2012 and is occupied by Chipotle, Sleepy’s, US Cellular and Hannoush Jewelers. Linear Retail purchased Salem Village in January 2007 and Manchester Shopping Center in April 2012.
MESQUITE, TEXAS — Cushman & Wakefield has brokered the sale of Mesquite Town Centre Plaza, a 209,766-square-foot retail property in the Metroplex suburb of Mesquite. Located at 1330 N. Town East Blvd., directly across from Town East Mall, the shopping center was 80 percent leased at the time of the sale to tenants including anchors Burlington Coat Factory and Ashley Furniture. Tom Salanty, Chris Harden and Kris Von Hohn of Cushman & Wakefield represented the seller, Kimco Realty, in the transaction. Trisha Connoly, also of Cushman & Wakefield, represented the buyer, QEH Mesquite LLC, in arranging the acquisition financing.
WOODWAY, TEXAS — Marcus & Millichap has brokered the sale of Woodway Village, a 14,181-square-foot retail property in the Waco suburb of Woodway. Located at 824 Hewitt Drive, the strip shopping center was 68 percent leased at the time of the sale to tenants including Jimmy John’s, Great Clips, Escape Nail Salon, MetroPCS and Rosati’s Pizza. Constructed in 2005, the structure is shadow-anchored by Walmart and in close proximity to Chase Bank, Advance AutoParts, Starbucks Coffee, H-E-B, Subway and many other retailers. Philip Levy marketed the property on behalf of the seller, a private investor. Levy also secured the buyer, a limited liability company.
HONOLULU — KZ DevCo LP has completed construction on a 20,114-square-foot Long’s Drugs in Honolulu. The new store is located at 1030 King Street in the Makiki neighborhood. The project costs totaled more than $25 million, making it one of the most expensive Long’s projects to date. Long’s broke ground in the second half of 2013. It is expected to open for business this June.
BRANDON, FLA. — CBRE has arranged the $2.1 million sale of a former Borders book store in Brandon. The 22,585-square-foot property is located at 2020 Town Center Blvd. The buyer, Florida Medical Clinic, plans to convert the former bookstore into medical offices. CBRE represented the seller, Business Property Lending, in the transaction. Gregory Morgan of Morgan Realty Advisors represented Florida Medical Clinic, which operates more than 30 locations in Hillsborough and Pasco counties.