HOLIDAY, FLA. — Franklin Street Real Estate Services has arranged the $2.6 million sale of a CVS/pharmacy, located at 2513 U.S. Highway 19 in Holiday. Rafeal Wright and Jonathan Graber of Franklin Street represented the seller, Holiday Sun Properties, a limited liability partnership based in southeast Florida. The buyer is a South American fund.
Retail
MOKENA, ILL. — Inland Real Estate Corp. has acquired Mokena Marketplace, a 49,000-square-foot shopping center in Mokena, for $13.7 million. The acquisition of Mokena Marketplace, located approximately 30 miles southwest of Chicago, includes retail space that is 76 percent leased to PetSmart, Party City, Sally Beauty Supply, and Lee Nails; a freestanding Chase Bank on a ground lease; and five developable out parcels. The shopping center is shadow-anchored by JC Penney and a new Meijer grocery store, which is scheduled to open this summer.
TAYLOR, MICH. — Friedman Integrated Real Estate Solutions has arranged the lease of an 8,484-square-foot retail space in Taylor. The landlord, Sebanc Taymich Investments LLC, leased the space, located at 7705 Telegraph Road, to Ohio-based Phantom of Michigan Inc., a fireworks retailer. Greg Hornby of Friedman represented the landlord in the transaction. Phantom of Michigan, also known as Phantom Fireworks, is based in Youngstown, Ohio. The company has seven locations in Michigan and more than 1,200 locations throughout the country.
JACKSON, MICH. — Colliers International Detroit has arranged a 5,400-square-foot retail lease for Once Upon a Child, a children’s resale franchise, in Jackson. The space is in Wisner Plaza, located at 1000 N. Wisner St. Kent Butler of Colliers represented the tenant. Max Goldman and Matthew Seeley of Colliers represented the landlord, Wedge Investments Inc., in the lease transaction. Retailer Once Upon a Child buys and sells gently used clothing and baby supplies.
LAKE GEORGE, N.Y. — Sobert Realty Corp. is renovating and expanding Lake George Plaza from 52,000 square feet to 102,000 square feet. The retail property will become known as The Outlets at Lake George following its grand opening in August. It will be constructed in a clapboard style indigenous to architecture of the upstate region. Current tenants include Polo Ralph Lauren Factory Store, Nautica, Levi's, Bass, Van Heusen and more.
UVALDE, TEXAS — Stan Johnson Co. has brokered the sale of a 41,000-square-foot retail property in Uvalde, a city situated approximately 80 miles west of San Antonio. The multi-tenant property houses Tractor Supply Company and Dollar General and is close to other retailers including HEB, Bank of America and AutoZone. Todd Moore and Jim Gibson of Stan Johnson Co. represented the seller, a private investor, as well as the buyer, a New York-based developer.
LEWISVILLE, TEXAS — The Weitzman Group has arranged a 25,631-square-foot retail lease in Lewisville for Half of Half Name Brand Clothing. The tenant will occupy space within Lakepointe Crossing, a shopping center located at 2416 S. Stemmons Freeway, in proximity to Vista Ridge Mall and the interchange of I-35 and the Sam Rayburn Tollway. Half of Half joins a tenant roster that includes Academy Sports + Outdoors, Conn’s, Garden Ridge, Toys “R” Us, David’s Bridal and Pier 1 Imports. Blake Shipp and Ian Laskowski of The Weitzman Group represented the landlord in the negotiations. Jenco Realty inc. represented Half of Half.
OCEANSIDE, CALIF. — Flags on Mission Shopping Center, a 107,600-square-foot retail center in Oceanside, has sold to Doerken Properties Inc. for $12.6 million. The center is located at 1527 Mission Ave. Marc Dudzik and Bo Havlik of Lee & Associates – North San Diego County represented both the buyer and seller, Mission Avenue Investors, in this transaction.
LOS ANGELES – A 28,323-square-foot bowling alley in Tarzana has received a $5.7-million SBA loan. The 20-year, fixed-rate loan amortizes over 20 years at 4.7 percent. It features an 85 percent loan-to-value. Financing was arranged by Sharone Sabar of Marcus & Millichap Capital Corp.’s Encino office. Steven Schechter of the same office advised the buyer on the purchase.
CHICAGO — Marcus & Millichap has arranged the sale of a 16,000-square-foot retail building entirely occupied by Forever 21 on a net-lease basis. The two-story building, located at 865 W. North Ave in Chicago’s Lincoln Park neighborhood, sold for approximately $15 million. The building includes 8,000 square feet on each floor, a 4,000-square-foot basement and on-site customer parking. Other retailers in the area include Anthropologie, Apple, Best Buy, Crate & Barrel, Restoration Hardware, Sephora, The Container Store, Vitamin Shoppe, Whole Foods and Williams-Sonoma. Stephen Lieberman of Marcus & Millichap represented the buyer, Acadia Realty Trust. Tri-Equities LLC, based in Elk Grove Village, Ill., was the seller.