LOUISVILLE, KY. — Columbus, Ga.-based Carmike Cinemas Inc. has purchased Stonybrook 20, a movie theater in Louisville that features an IMAX screen. Carmike Cinemas purchased the theater from Cinemark USA Inc., a wholly owned subsidiary of Cinemark Holdings Inc. Carmike also purchased two other theaters from Cinemark — Ritz Center 16 in Voorhees, N.J., and Hickory Creek 16 in Hickory Creek, Texas.
LEESBURG, VA. — Towson, Md.-based KLNB Retail has brokered three leases totaling nearly 130,000 square feet of retail space at Tysons West, a new transit-oriented development in Leesburg. The development is located at 1500 Cornerside Blvd. The three tenants include an 80,000-square-foot Walmart Supercenter, a 45,000-square-foot 24 Hour Fitness and a 3,027-square-foot Noodles & Co. John Meyer and Brian Finkelstein of KLNB Retail represented Walmart and 24 Hour Fitness in the lease transactions. Andrew Feldman and Ryan Wilner, also of KLNB, represented Noodles & Co. The JBG Cos. developed Tysons West, which is configured to support more than 400,000 square feet of office space, more than 250,000 square feet of retail space, 700 residential units and a 350,000-square-foot hotel. The development is located adjacent to the Spring Hill Station of the Washington Metro system, which is expected to open later this year.
DALLAS — CBRE’s Private Capital Group in Dallas has arranged the sale of the 68,440-square-foot Mockingbird Depot retail property near Dallas Love Field Airport. Located at 2601-2727 W Mockingbird Lane, the shopping center was 100 percent leased at the time of sale and features a J. Hilburn Men’s Clothing store. ATR & Associates of Dallas purchased the property for an undisclosed amount. Jennifer Pierson and Beth Pierson of CBRE represented the seller.
ARVADA, COLO. — Phillips Edison–ARC Shopping Center REIT Inc. has purchased Westwoods Shopping Center, a 90,855-square-foot shopping center in Arvada. The purchase price was not disclosed. The center is located at 15530 & 15570 West 64th Ave. just northwest of Denver. It is currently 95.4 percent occupied and is anchored by King Soopers grocery store, a subsidiary of Kroger.
BEND, ORE. — Walgreens preferred developer Seven Hills Properties has purchased a 1.8-acre land parcel in Bend for $2.8 million. The site is on the southwest corner of Third Street and Franklin Avenue. It stretches for a full city block. Construction on the new Walgreens will begin next month, with Kirby Nagelhout serving as general contractor.
BOARDMAN, OHIO — Marcus & Millichap has arranged the $850,000 sale of DentalWorks, a 2,761-square-foot, net-leased property located in Boardman about 50 miles east of Akron. Brian Parmacek and Stephen Rachman, investment specialists in Marcus & Millichap’s Chicago O’Hare office, marketed the property on behalf of the seller, a private investor. Parmacek and Rachman, also represented the buyer, a limited liability company in the transaction. DentalWorks is located at 930 Boardman Poland Road. This facility is one of 160 locations in 14 states and is now part of DentalOne Partners, one of the nation's largest privately owned dental services companies. Michael Glass, the Ohio broker of record, assisted in closing the transaction.
BROOKLINE, MASS. — The Grossman Cos. Inc., with its partner, the Kara Family, has purchased a 3,000-square-foot retail building in Brookline for $2.3 million. The retail property is located at 429 Harvard St. in the heart of the Coolidge Corner section of Brookline. Cambridge Savings Bank financed the acquisition. Citizen Bank occupies the building, which includes 14 parking spaces. The Grossman Companies has acquired approximately 750,000 square feet of office, retail and industrial property across New England during the last three years.
CORTLAND, N.Y. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $1.4 million loan for the refinancing of a single-tenant building in Cortland, located about 34 miles south of Syracuse. Christopher Marks, associate director, and Kyle Young, associate, in the firm’s Manhattan office, arranged the financing. The 10-year loan includes a fixed-interest rate of 4.25 percent and a 20-year amortization schedule. Kentucky Fried Chicken occupies the building, which is located at 3890 State Route 281.
MIAMI BEACH, FLA. — Marcus & Millichap has arranged the $18.1 million sale of a seven-property retail portfolio in Miami Beach's South Beach neighborhood. The portfolio totals 43,000 square feet and includes six properties on the Alton Road corridor and one property at Collins Avenue and 73rd Street. The tenants include Panera Bread, Papa John's Pizza, Alex Linens, Beach Food Market, Lambs Laundry, Nu Art Signs and Provecho Bistro Latino. Drew Kristol and Kirk Olson of Marcus & Millichap's Miami office represented the seller, Twin City Realty LLC, and the buyer, a local family trust, in the transaction.
LITHIA SPRINGS, GA. — Blanchard & Calhoun Commercial, a real estate development and brokerage firm based in Augusta, Ga., has arranged the sale of Paradise Crossing, a 67,470-square-foot shopping center in Lithia Springs, located about 17 miles west of Atlanta, for $9 million. The property is situated at the intersection of Lee and Fairburn roads (Highway 92). Publix anchors the center, which is 95 percent leased to a mix of local, regional and national tenants. Ryan McArdle, Steve Collins and David Rivers of Blanchard & Calhoun Commercial represented the buyer, a public non-traded REIT, in the transaction. The retail REIT purchased the center from The Simpson Organization.