MIAMI — CB Richard Ellis (CBRE) has brokered the sale of a newly constructed Whole Foods Market in Miami for $19.8 million. Completed this past May, the 36,000-square-foot, freestanding building is located on a three-acre site at 12150 Biscayne Blvd. It is solely occupied by Whole Foods on a net lease. Happiness Inc. purchased the property from a Miami-based real estate development firm, which was represented by the CBRE team of Dennis Carson, Casey Rosen, David Donnellan and Todd Weintraub.
WINDERMERE, FLA. — Tavistock Development Co. has announced plans to develop Phase II of The Grove at Isleworth, an open-air, multi-use center located in Windermere. Construction will begin this summer for two buildings totaling 82,000 square feet that will feature street-level retail space with medical and professional office space above. The buildings will front a tree-lined plaza. Tenants already signed for Phase II include Dexter’s, Jeremiah’s Italian Ice, BurgerFi, Marilyn Monroe Spa, Cali Chic Boutique, Salt Scene and Soul Mates Boutique. Phase I of The Grove at Isleworth is anchored by Publix and LA Fitness. When complete, the center will contain more than 200,000 square feet of retail and office space.
INDIALANTIC, FLA. — Marcus & Millichap has brokered the sale of a 15,525-square-foot retail building net-leased to CVS/pharmacy in Indialantic for $5.1 million. Michael Lombardi of Marcus & Millichap’s New Jersey office represented the seller, a developer based in the Northeast United States. Lombardi partnered with Preet Sabharwal of Marcus & Millichap’s Manhattan, New York, office to represented the buyer. Kirk Felici assisted with the transaction.
INDIANAPOLIS — The Boulder Group has completed the sale of a triple-net-leased property located at 9240 Rockville Road in Indianapolis for $5.7 million. Walgreens occupies the 14,820-square-foot building, which has 15 years left on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based developer, in the transaction. The buyer was a Texas-based private investment firm.
WILMINGTON, DEL. — Marcus & Millichap has arranged the $1.6 million sale of, a 2,315 square-foot net-leased property located in Wilmington. Kentucky Fried Chicken and Taco Bell occupy the building, which is located at 1917 Lancaster Ave. Russell Wachtler, investment associate, and Glen Kunofsky, executive vice president investments at Marcus & Millichap’s Manhattan office, along with Donald MacLaren, first vice president investments of Marcus & Millichap’s Philadelphia office, marketed the property on behalf of the seller, a private investor.
DALLAS — McCarthy Building Cos. Inc. has completed the AT&T Performing Arts Center Information Center, a 1,800-square-foot facility located on the west end of Sammons Park in the Dallas Arts District. Foster + Partners is the architect for the project. The facility features a box office, AT&T Experience Wall and a café operated by Pearl Cup Coffee. Justin Nunn of McCarthy is the project manager.
DALLAS — Stockdale Investment Group has purchased The Shops of Highland Park, a 45,000-square-foot retail property located at 4200 Oak Lawn Ave. in Dallas. The center is home to retailers and restaurants including La Duni, Carbone’s, Flywheel and The Dry Bar. The property also includes an adjacent 50,000-square-foot parking lot. The Shops of Highland Park has undergone two major renovations since its original development in 1940. The seller was Corrigan Properties, the original owner of The Shops for more than 70 years.
AURORA, COLO. — HighPoint Marketplace, a 99,433-square-foot retail center, has received $15 million in refinancing. It is located at 18648-18860 E. Hampden Ave. and 3594 S. Tower Road. The center was built in 2001 and is anchored by a 55,580-square-foot Safeway. Other notable tenants include Great Clips, Wendy’s and H&R Block. Financing was arranged by John M. Stewart and Ilan Reissner of NorthMarq Capital’s Denver regional office.
KEY WEST, FLA. — Cronheim Mortgage has arranged $10.6 million in financing for The Home Depot located on North Roosevelt Boulevard in Key West. The property contains 90,000 square feet of space with an additional 16,000-square-foot garden center. Dev Morris and Andrew Stewart of Cronheim arranged the self-liquidating loan, which carries a term of 19 years and 10 months as well as a 3.63 percent interest rate. The borrower was Industries Exchange No. 2 LLC.
NASHUA, N.H. — Linear Retail Properties LLC has started construction on Daniel Webster Shops, a single-story shopping center redevelopment in Nashua, about 20 miles south of Manchester. The 12,000-square-foot retail property is located at 219 Daniel Webster Highway. Burlington, Mass.-based Linear Retail purchased the development site from Cumberland Farms in December 2012. Joel Kadis, partner of leasing at Linear Retail, will oversee leasing of the site.
