COLUMBUS, OHIO — Cleveland-based Goodman Real Estate Services Group has completed the sale of an approximately 91,892-square-foot Burlington Coat Factory property in Columbus. The property, located at 3565 W. Dublin Granville Road, sold for $3.4 million, or $37 per square feet. The property is located across the street from retail center that is anchored by Whole Foods, DSW and Bed, Bath & Beyond. Kyle Hartung of Goodman Real Estate Services Group represented the undisclosed buyer in the transaction. The acquisition was an off-market transaction and purchased at an 11.9-percent cap rate.
TOMBALL, TEXAS — HFF has brokered the sale of Tomball Crossing, a 164,348-square-foot power center in the northwest Houston suburb of Tomball. Completed in 2006, the property is located at 22485-22549 Tomball Parkway, near the interchange of State Highway 249 and Spring Cypress Road. The center was 94 percent leased at the time of the sale to tenants including Ross Dress for Less, Old Navy, Petco, Famous Footwear, Lupe Tortilla, Red Robin and Panera Bread. Ryan West and Rusty Tamlyn of HFF marketed the asset on behalf of the seller, Metro-National. Kimco Realty Corp. purchased the property with the exception of the North Cypress Emergency Room pad site, which was purchased by North Cypress Medical Center.
LOGANVILLE, GA. — Dollar General will open a new store at 1901 Georgia Highway 81 in Loganville. The new store is set to employ about six to 10 people. “Dollar General is committed to delivering a pleasant shopping experience that includes a convenient location, a wide assortment of merchandise and great prices on quality products,” says Dan Nieser, senior vice president of real estate and store development of Dollar General. “We hope our Loganville customers will enjoy shopping at Dollar General’s new location.”
NEW YORK CITY — A family partnership has sold 346 West 40th Street, a 98,750-square-foot development site in the Hudson Yards area of New York City. Hotel developer Sam Chang has purchased the property for $26.25 million or $266 per square foot. Glen Kunosfky of Marcus & Millichap, along with Peter Von Der Ahe, Joseph Koicim and Sean Lefkovits of Institutional Property Advisors, a multifamily brokerage division of Marcus & Millichap, represented the seller. A six-story, 250-space, 53,172-square-foot parking garage currently occupies the property. Chang also bought out the long-term triple-net lease on the site from Peach Parking Corp.
NORTH LAS VEGAS, NEV. — Craig Promenade, an 86,395-square-foot retail strip center in North Las Vegas, has received $7.2 million in financing. The center is located at 525-785 West Craig Road across from Craig Ranch Regional Park. It was built in 2005. The borrower was RREF II-KI, Promenade, LLC, a partnership between Kismat Investments and Rialto Capital. Financing was arranged by HFF’s John Chun and Sebastian Trujillo. The three-year, floating-rate loan was provided by RRA Capital Management. The borrower used the proceeds to acquire the property.
FRESNO, CALIF. – A 17,164-square-foot building in Fresno that is triple-net leased to Smart & Final has sold to a private San Pedro investor for $6.3 million. The building is located at 631 H. Street. The buyer purchased the property in a 1031 exchange and obtained third-party financing. It was represented by Sands Investment Group. The seller, a private San Diego investor, was represented by Eric P. Wohl and Edward B. Hanley of Hanley Investment Group.
CHICAGO — New York-based Acadia Realty Trust has acquired the retail space at the base of the 188-unit Waldorf Astoria Chicago, located at 11 E. Walton St. in Chicago, for $44 million. Tenants of the 6,738-square-foot space include Marc Jacobs and Saint-Laurent. Adam Secher and Janika Brenner of Baum Realty Group, along with Cushman & Wakefield, brokered the sale.
OSAGE BEACH, MO. — A 20,000-square-foot Bed, Bath & Beyond has opened at Lakeview Pointe Shopping Center in Osage Beach. With this opening, approximately 137,000 square feet of the 150,000-square-foot, Dierbergs-anchored shopping center will be occupied. The center is occupied by The UPS Store, JJ Twigs Plaza, Great Clips, Eyes on Missouri, All-Pro Realtors, Dick’s Sporting Goods, The St. Louis office of Capitol Realty Group is the leasing agent for the center.
LA VERNE, CALIF. – The La Verne Courtyard, an 84,796-square-foot shopping center, has sold to a private Beverly Hills investor for an undisclosed sum. The center is located at 2204-2278 Foothill Blvd. in La Verne. Notable tenants include Orchard Supply Hardware, Office Depot, Citi Financial, Pizza Hut, Rubio's Baja Grill, Quiznos and Magic Wok. Both the buyer and seller, a private San Clemente investor, were represented by Edward B. Hanley, William B. Asher and Kevin T. Fryman of Hanley Investment Group.
COSTA MESA, CALIF. – A 4,830-square-foot retail center in Costa Mesa has sold to a private San Clemente investor for $3 million. The center is located at 2800 Harbor Blvd., next to Orange Coast College. It is fully leased to Yoshinoya, AT&T and GoldMax. The buyer was represented by Dennis Vaccaro of Faris Lee Investments. The seller, a private Wyoming investor, was represented by Edward B. Hanley and Eric P. Wohl of Hanley Investment Group.