SAN BRUNO, CALIF. — Destination XL will soon open an 8,215-square-foot outpost at the San Bruno Towne Center. The center is located at 1202-1340 El Camino Real, just south of San Francisco. The big-and-tall clothing and shoe store is operated by Casual Male Retail Group. It was represented by Katie Singer and Jessica Birmingham of Terranomics Retail Services.
BOISE, IDAHO — Southshore Marketplace in Boise is being redeveloped by Pine Tree and Inland Real Estate Corporation. The 103,000-square-foot structure was formerly occupied by Kmart. The new project will be anchored by Gordmans Department Store.
CHARLESTON AND FLORENCE, S.C. — Faison Enterprises Inc., a private real estate developer and owner based in Charlotte, N.C., has acquired two retail centers in South Carolina. The properties include the 350,000-square-foot Ashley Landing in Charleston and the 113,922-square-foot Crossroads Center in Florence. Ashley Landing is 92 percent leased to tenants including Publix, Burlington Coat Factory, Dollar Tree, Big Lots, Wells Fargo, Harbor National Bank and First Federal of Charleston. Scott Adams of Adams and Wilson Properties represented Faison in the transaction. Crossroads Center is 96 percent leased to Hamrick’s, Planet Fitness, LifeWay and Dollar Tree. Berkeley Capital Advisors’ Charlotte office arranged the transaction.
ST. PETERSBURG, FLA. — CBRE has brokered the sale of Marina Village, a 61,775-square-foot retail center in south St. Petersburg. The property is located at 4701-4949 34th St. South and is 79 percent leased to Dollar Tree, Radio Shack, Beef O’Brady’s, JSA Healthcare, The UPS Store and Domino’s Pizza. The buyer, a partnership between Paradise Ventures and ADJ-DIG LLC, purchased the center from EBK Properties Inc. for approximately $3.9 million. CBRE represented the seller in the transaction.
MELROSE PARK, ILL. — A partnership comprised of Chicago-based Origin Capital Partners and Newgard Development has completed the sale of a shopping center, located at the intersection of North Avenue and 25th Avenue in Melrose Park. A national REIT acquired the 113,624-square-foot property for $17.8 million. A 65,439-square-foot Food 4 Less and 30,076 square feet of inline retail tenants, including Starbucks Coffee, FedEx and T-Mobile, occupy the center.
NEWBURGH, IND. — RCG Ventures (Fund I) has completed the sale of Apple Center in Newburgh. A private investment group acquired the 88,348-square-foot retail center for an undisclosed price. Kroger, Ace Hardware and Tradebakers anchor the property. Dan Cooper of Cooper Commercial Group represented RCG in the transaction.
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.