TUSCALOOSA, ALA. — The Opus Group has completed the construction of a 42,300-square-foot retail building for Gander Mountain, an outdoor specialty retailer offering hunting, fishing, camping and marine lifestyle products. The store is located at the former site of Bear Bryant Motors in Tuscaloosa. Opus Development Co. LLC provided development services, Opus Design Build LLC was the design-builder for the project and Opus AE Group LLC provided architecture and engineering services. In addition to the Tuscaloosa location, Opus also built the new Gander Mountain store in Valdosta, Ga., and provided construction management services for the location in Opelika, Ala. Opus was also recently awarded a contract from the company for a 45,600-square-foot store in Albany, Ga., which is scheduled to open in October.
SUSSEX AND GREEN BAY, WIS. —A Midwest-based developer has sold a single-tenant, net-leased portfolio including two properties in Sussex and Green Bay for $17.6 million. Shopko is the sole occupant of the two 80,000-square-foot properties. The department store has 16 years left on its initial lease at both properties. The stores are located at 2320 Lineville Road in Green Bay and N66 W 25201 County Highway in Sussex. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The buyer was a West Coast-based investment firm.
FRANKLIN, IND. — Lee & Associates has closed the $2.4 million sale of City View Shoppes, a 20,630-square-foot shopping center in Franklin, a south suburb of Indianapolis. Built in 2003, the eight-unit center is fully leased and located at 1047 W. Jefferson St. adjacent to Johnson Memorial Hospital and City View apartment complex. Jim Karozos and Bob Lindgren of Lee & Associates’ Indianapolis office represented the seller, City View Shoppes, while Nick Kirkendall of Ohio Properties represented the buyer, Kirkendall Investment, in the transaction.
NEW HYDE PARK, N.Y. — Kimco Realty Corp. has increased its ownership interest in the Kimco-UBS joint venture to 33 percent from 18 percent interest. The joint venture includes 39 shopping centers totaling 5.6 million square feet, which is currently 96 percent occupied. A majority of the properties are located in New York, Virginia, Texas, California and Maryland. Tenants in the portfolio include Publix, Giant Food, Whole Food Markets and Safeway, as well as Home Depot, Nordstrom Rack, Bed Bath & Beyond and T.J. Maxx. Affiliates of Blackstone Real Estate Partners VII completed their acquisition from affiliates of the UBS Wealth Management North American Property Fund for the remaining 67 percent ownership interest. Both transactions were based on a gross purchase price of $1.1 billion, including $631 million of assumed debt.
LONGVIEW, TEXAS — Morris-Floyd Capital Partners has purchased Longview Plaza, a 157,000-square-foot power center located on West Loop 281 in Longview. The center, previously owned by Longview Plaza Ltd, is anchored by Bed Bath & Beyond, T.J. Maxx, Michael’s, Office Depot, Best Buy and Books-A-Million. BBVA Compass provided acquisition financing, and Bruce Marshall and Bill Graham of Sperry Van Ness brokered the sale. Longview Plaza is currently at 100 percent occupancy.
DENVER — Winter Park Winery is opening its second location in Colorado. The newest iteration will be called Mile High Winery. It will be located at 2811 Walnut Street in the city’s Ballpark District. The grand opening is scheduled for early July. It will include a full-production winery and tasting room. Winter Park Winery was founded by John and Cassidi Brickner, whose initial operation opened in Fraser in 2004. Bob Bramble of Newmark Grubb Knight Frank Retail represented the duo in this lease transaction.
MOUNT PROSPECT, ILL. — Ramco-Gershenson Properties Trust (NYSE:RPT) has acquired Mount Prospect Plaza for $36.1 million. The sales price represents an initial capitalization rate of 7.4 percent, according to Farmington Hills, Mich.-based Ramco-Gershenson. The 301,000-square-foot property is anchored by Marshalls, Ross Dress for Less, Aldi, LA Fitness and a Walgreens data processing center. The shopping center, which was 85 percent leased at the time of sale, is shadow anchored by a Walmart Supercenter. The plaza is located in Mount Prospect, a northwest Chicago suburb, along the Rand Road retail corridor, at the northeast corner of Rand Road and Central Road.
CHICAGO — Marcus & Millichap has arranged the sale of a 7,000-square-foot, net-leased property located in Chicago for $2 million. AutoZone occupies the property, which is located at the corner of 64th Street and South King Drive. Austin Weisenbeck and Sean Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Darpan Patel and Joel Dumes, investment specialists in Marcus & Millichap’s Cincinnati office. AutoZone is operating under a 20-year, double-net lease.
SAN ANTONIO — K1 Speed has leased 42,217 square feet of space at 6955 N.W. Loop in San Antonio to operate an indoor go-kart racing facility. K1 has 17 locations nationwide, including around Houston and Austin. The new San Antonio location is slated to open in July. Keith McRee of SRS Real Estate Partners represented the landlord in the lease deal. Jim Stoltz represented K1.
TARBORO, N.C. — Berkeley Capital Advisors has brokered the sale of River Oaks Shopping Center in Tarboro. The property totals 32,800 square feet. Its tenants include Dollar Tree, Shoe Show and Radio Shack. Walmart shadow anchors the center. The Berkeley team of Rob Carter, Alex Quarrier and David Webb arranged the deal between the two undisclosed parties.