SAN DIEGO — Spring Valley Auto Center, a 15,255-square-foot retail property in the San Diego submarket of Spring Valley, has sold to LBM Investments for $2.8 million. The center is located at 8730-8750 Jamacha Road. It contains five suites that are fully occupied by auto care providers. Matt LoPiccolo of Marcus & Millichap’s San Diego office represented both the buyer and seller, Winslow Investments Limited Inc., in this transaction.
BALTIMORE — Finmarc Management, a Bethesda, Md.-based commercial real estate services firm, has sold a 272,000-square-foot retail development in Baltimore for $35 million. The property features a 142,000-square-foot Walmart and a 130,000-square-foot Sam's Club, which closed in 2008. Finmarc sold the waterfront property, located on a 58.7-acre site, to 2701 Port Covington Drive LLC.
NEWPORT NEWS, VA. — The Greysteel Co. has arranged the sale of Newport Crossing Shopping Center, a 194,000-square-foot, grocery-anchored center located in Newport News. The shopping center, located at 419 and 439-467 Oriana Road, sold for approximately $12.9 million. The center is 80 percent leased to tenants such as Food Lion, Dollar Tree, Citi Trends, USA Discounters, First Virginia Financial Services and Riverside Health System. Gil Neuman of Greysteel represented the seller, Harbour Group International LLC, and procured the buyer, Coastal Equities Real Estate.
CHICAGO — Outlook Development, Bucksbaum Retail Properties and Simon Konover Development have sold a Mariano’s Fresh Market grocery store in Chicago for $40.5 million. Clark 1625 LLC, a New York City-based private investor, purchased the newly constructed, 65,568-square-foot store. The property is located at 1615 S. Clark St. in the South Loop submarket of Chicago. Guy Ponticiello, Bruce Westwood-Booth, Brian Shanfeld and Matt Berres led the Jones Lang LaSalle’s capital markets team, which represented the seller, in the transaction. Mariano’s Fresh Market is part of Roundy’s Supermarkets Inc.’s grocery store chain and it operates on a triple-net lease with 20 years of remaining on its lease.
NEW YORK CITY — The retail condo portion of The Edge, a waterfront mixed-use property in the Brooklyn suburb of Williamsburg, has sold for $45.5 million. Madison Marquette acquired the retail portion, which totals 64,000 square feet, from Douglaston Development. Built in 2010, the property is part of The Edge project, a master-planned community that includes condominiums and residential units in four buildings. The retail component is long-term leased to Brooklyn Harvest Market, CVS/pharmacy, Ride Brooklyn and Fabbrica Cafe.
ROCHESTER, N.Y. — Marcus & Millichap has arranged the $1.4 million sale of Crab Shack Restaurant, a 7,784-square-foot net-leased property located in Rochester. Preet Sabharwal and Steven Stoehrer, both from Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller, a private investor, and represented the buyer, also a private investor. Crab Shack Restaurant is located at 749 E. Henrietta Road.
SACHSE, TEXAS — CBRE has brokered the sale of Oak Grove Plaza, a 120,491-square-foot retail center in the northeast Dallas suburb of Sachse. Anchored by Kroger Signature since 2003, the property is located at the intersection of State Highway 78 and Bunker Hill Road. Approximately 75 percent of the asset’s leasable area is under contract into 2018. Chris Cozby, Chris Gerard and Kevin Holland of CBRE represented the seller, Invesco Advisers Inc., in the transaction. LaSalle Investment Management purchased the center.
HARLINGEN, TEXAS — The Woodmont Company has brokered the sale of Creekside Plaza, a 45,902-square-foot retail center in Harlingen. Located along South Sunshine Strip and adjacent to HEB Grocery, the property was 67 percent occupied at the time of the sale by tenants including anchors Family Dollar and Sherwin Williams. Brad Cruickshank of Woodmont represented the seller, Torchlight Investors, in the transaction. The buyer, an undisclosed private investment firm, represented itself.
SAN ANTONIO — Retail Solutions has arranged a 25,000-square-foot lease in San Antonio for Blast Fitness. The gym will occupy space at Westpark Plaza, located at 6703-6759 N.W. Loop 410 and in proximity to Ingram Park Mall. Tim McBrearty of Retail Solutions represented the tenant in the negotiations, while Transwestern represented the undisclosed landlord.
CHICAGO — Quantum Real Estate Advisors Inc. has brokered the $7.5 million sale of a 117,000-square-foot, multi-tenant retail center located in Peoria. A Milwaukee-based investment group purchased the property. Chad Firsel, president, and Daniel Waszak, senior vice president at Quantum Real Estate Advisors, represented the seller, a New York-based global financial institution.