DEER PARK, TEXAS — Marcus & Millichap has arranged the sale of Deer Park Storage, a 61,220-square-foot self-storage facility located in Deer Park. David Knobler of Marcus & Millichap marketed the property on behalf of the seller, a tenant-in-common entity. Knobler and LeClaire also represented the buyer, a limited liability company. Deer Park Storage is located at 4013 Center St. in Deer Park.
Retail
HOUSTON — HFF has closed the sale of Spring Cypress Village, a 101,371-square-foot, grocery-anchored retail center in northwest Houston. HFF marketed the property on behalf of the seller, Delaware Life Insurance Co., formerly kown as Sun Life Assurance Co. of Canada, through its adviser, Guggenheim Partners. Phillips Edison and Co. bought the asset for an undisclosed amount. Spring Cypress Village sits on 15.7 acres at the intersection of State Highway 249 and Spring Cypress Road. The grocery-anchored property was renovated in 2007 and is leased to tenants including Sprouts Farmers Market, Spec’s Liquor, YES Kids Fitness, Wolfies Restaurant & Sports Bar, State Farm Insurance and Earthwise Pet Supply. The HFF team representing the seller included Rusty Tamlyn, Ryan West and Matt Berry.
WESTON, FLA. — CBRE has arranged the $32.3 million sale of Weston Road Shopping Center, a 105,929-square-foot retail center located at 4410 Weston Road at the entrance of the city of Weston. An institutional investor purchased the asset from Coral Gables-based Game Properties. The property is roughly 98 percent leased to tenants such as Office Depot, AC Moore, Sprint, Dunkin’ Donuts, AT&T, Pinch-A-Penny, Honey Baked Ham and T-Mobile. Dennis Carson, David Donnellan and Casey Rosen of CBRE represented Game Properties in the transaction.
LIVINGSTON, N.J. — The Fresh Market plans to open a new location at The Village at Livingston, a 93,000-square-foot shopping center in Livingston. The upscale specialty grocer has signed a long-term lease for 23,000 square feet of retail space from Eastman Cos. for the new store, which is slated to open this fall. David Perlmutter of Perlmutter Properties represented the landlord, while Larry Anderson of Anderson Commercial Real Estate Services represented the tenant in the transaction.
MONROE, MICH. — Reichle Klein Group has brokered the $1.3 million sale of an 18,568-square-foot property in Monroe to an undisclosed buyer. The former Lincoln Mercury auto dealership is situated on a nearly five-acre site located at 15354 S. Dixie Highway. Duke Wheeler and Kurt Pollex of Reichle Klein Group represented the seller, Sarah Property LLC of Redford, Mich.
WAUWATOSA, WIS. — Colliers International has arranged the lease of a 13,440-square-foot retail building in Wauwatosa, a suburb of Milwaukee. La Z Boy will occupy space located at 10830 W. Burleigh St. The location will serve as a retail store for the furniture company. Brent Beshears of Colliers International represented the tenant La Z Boy Inc. in the transaction.
ESCONDIDO, CALIF. – A 4,000-square-foot retail building in Escondido that is currently occupied by 7-Eleven has sold to Marc Fanticola for $2.1 million. The building is located at 620 N. Ash Street. Fanticola was represented by Shaun Riley of Faris Lee Investments. The seller, 620 Ash Street LLC c/o Torrey Realty Holdings Inc., was represented by Chuck Klein, Kevin Held and Andrew Peterson of Cassidy Turley.
PARK CITY, UTAH – An 8,775-square-foot retail condo at the Park City Mountain Resort has received a $2-million refinance. The condo is situated at the base of the resort, which is located at 1345 Lowell Ave. in Park City. The condo features commercial units on its ground floor and seasonal residential units on its upper level. It is occupied by four long-term tenants. The loan features a 10-year fixed term, 25-year amortization schedule and 4.85 percent interest rate. It was arranged by Jeff Meierhofer of the Madison Group.
POMPANO BEACH, FLA. — Sterling Organization has executed a 10-year lease agreement with Chuck E. Cheese’s for 15,324 square feet at Pompano Citi Centre, a 908,000-square-foot retail center at 1955 N. Federal Highway in Pompano Beach. Other tenants include J.C. Penney, Ross Dress for Less, Big Lots and Office Depot. Originally built in 1970 as Pompano Fashion Square, the asset was redeveloped into an open-air shopping center in 2006. Chuck E. Cheese’s is expected to open its doors in the fourth quarter of this year. Jonathan Schuemann of Bluerock Real Estate brokered the lease transaction.
BURNSVILLE, MINN. — Marcus & Millichap has arranged the $11.5 million sale of a 14,490-square-foot Walgreens drugstore in Burnsville, a suburb approximately 20 miles south of downtown Minneapolis. The sale equates to $794 per square foot. The Walgreens is located at 950 County Road 42 W. The property is an outparcel to a Super Target-anchored retail center and a newly constructed Costco. Walgreens is operating this property under a corporate-guaranteed 75-year absolute net lease that has 21 years remaining. The store moved to its current location in 2009. Sean Doyle of Marcus & Millichap’s Minneapolis office represented the undisclosed seller. Brandon Hanna of the firm’s Detroit office represented the buyer, a Florida-based private investor.