AUBURN, N.Y. — CountryMax Stores plans to open a new 22,000-square-foot store in Auburn, located about 28 miles west of Syracuse. The retailer has purchased a 3.5-acre parcel at the Clinton Hill Town Center at 309 Genesee St. Bouck Real Estate represented CountryMax in the transaction. CountryMax Stores provides pet food and supplies, animal feed, lawn and garden items and a number of other rural lifestyle products.
PORTAGE, MICH. — Marcus & Millichap has arranged the $1.5 million sale of a 3,378-square-foot, net-leased property in Portage, located about 50 miles south of Grand Rapids. Glen Kunofsky, executive vice president of investments at Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller, a partnership. Jonathan Dwoskin, also of Marcus & Millichap, assisted in closing the transaction. Wendy's occupies the property, which is located on a 1.4-acre parcel at 4301 W. Centre Ave. The restaurant signed a new 20-year, triple-net lease at closing.
LAKE GENEVA, WIS. — Jones Lang LaSalle has been hired to sell the 55,100-square-foot Geneva Commons shopping center in Lake Geneva, about 50 miles southwest of Milwaukee. The complex is fully preleased to tenants including TJ Maxx, Jo-Ann Fabrics & Crafts, DaVita Dialysis, Rue21, Kay Jewelers and Great Clips. The shopping center will open for business this fall. Geneva Commons is located on 8.1 acres near the intersection of U.S. Route 12 and Highway 50. Guy Ponticiello, Maury Vanden Eykel and Matthew Berres of Jones Lang LaSalle will market the property.
WATERTOWN, MASS. — A joint venture between Boylston Properties, The Wilder Cos. and Jonathan Bush Jr. of athenahealth Inc. has acquired the 225,000-square-foot Arsenal Mall and the adjacent Harvard Vanguard Medical Associates building in Watertown, a suburb of Boston. Simon Property Group Inc. sold the property located on Arsenal Street. Tenants at Arsenal Mall include Sports Authority, Old Navy, Marshalls, Gap Outlet, Forever 21, Chipotle, Bath & Body Works, Ann Taylor Factory Store and Victoria’s Secret. The Wilder Cos. will take over management responsibilities at Arsenal Mall
SANTA MONICA, CALIF. – A half-acre land parcel in Santa Monica has sold to Q6 Real Estate, Inc. for $7 million. The parcel is located at 1402 Santa Monica Blvd. The owner, which is an affiliate ofthe Quinn Automotive Group, plans to build a two-story car dealership franchise on the lot. A gas station is currently situated on the property. The 33,700-square-foot MINI of Santa Monica is slated for completion in mid-2016. Joseph Gabbaian of Avison Young’s West Los Angeles office represented both the buyer and the seller, SBZ Partnership, in this transaction.
CORONA, CALIF. — Corona Hills Town Center, a 54,379-square-foot retail center, has received a $5.5-million refinance. The property is located at107-131 N. McKinley Street in Corona. It is shadow-anchored by Food-4-Less. Financing was secured by Blake Melstrom of Pacific Southwest Realty Services through a local conduit lender.
KEY WEST, FLA. — Cronheim Mortgage has secured $10.6 million for a 104,000-square-foot Home Depot property located on North Roosevelt Blvd. in Key West. Dev Morris and Andrew Stewart of Cronheim Mortgage arranged financing on behalf of the borrower, Industries Exchange No. 2 LLC. The loan was structured over 19 years and 10 months at a 3.63 percent interest rate.
ALBANY, N.Y. — Marcus & Millichap has arranged the $1.7 million sale of a 29,374-square-foot, net-leased property occupied by Rite Aid in Albany. Preet Sabharwal, senior associate at Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller, a private investor, and the buyer, also a private investor. Rite Aid is located at 17-21 N. Pearl St.
SANTA MONICA, CALIF. – A half-acre land parcel in Santa Monica has sold to Q6 Real Estate, Inc. for $7 million. The parcel is located at 1402 Santa Monica Blvd. The owner, which is an affiliate ofthe Quinn Automotive Group, plans to build a two-story car dealership franchise on the lot. A gas station is currently situated on the property. The 33,700-square-foot MINI of Santa Monica is slated for completion in mid-2016. Joseph Gabbaian of Avison Young’s West Los Angeles office represented both the buyer and the seller, SBZ Partnership, in this transaction.
CORONA, CALIF. — Corona Hills Town Center, a 54,379-square-foot retail center, has received a $5.5-million refinance. The property is located at 107-131 N. McKinley Street in Corona. It is shadow-anchored by Food-4-Less. Financing was secured by Blake Melstrom of Pacific Southwest Realty Services through a local conduit lender.