ALBANY, N.Y. — The Hampshire Cos. has acquired a 66,000-square-foot retail property and an adjacent 1,000-square-foot gas station in Albany from Columbia Development Co. ShopRite, a subsidiary of Wakefern Food Corp., fully occupies the 66,000-square-foot building. The new grocery store is the third of four new locations for ShopRite in the Albany market this year. The property is located at 711 Central Ave.
KATY, TEXAS — Katy Park Plaza in Katy has sold to a private investor for $6.75 million. The 68,865-square-foot retail property is located at 406 W Grand Parkway S. Gus Lagos, senior associate at Marcus & Millichap's Houston office, represented the seller in the transaction, while Alex Bouchard, also of Marcus & Millichap’s Houston office, secured the buyer.
CHARLOTTE, N.C., AND VERONA, VA. — Morgan Property Group has announced plans to develop two new 7-Eleven convenience stores in North Carolina and Virginia. In Charlotte, construction will begin in October for a 2,940-square-foot convenience store with six pumping stations and an outparcel. The new store will be located at the corner of North Wendover Road and Marvin Road. Completion is slated for the first quarter of 2014. In Verona, Morgan will retrofit an existing 2,173-square-foot convenience store located at 6 Lodge Lane into a 7-Eleven store. The store will feature four pumping stations and will be attached to a Wendy’s restaurant. Completion is slated for this fall.
CHICAGO — Fashion Outlets of Chicago, a 530,000-square-foot luxury retail center in Chicago, will open its doors tomorrow. The fully enclosed outlet mall is nearly 95 percent leased and will be home to 130 stores, including anchors Bloomingdale's The Outlet Store, Neiman Marcus Last Call, Saks Fifth Avenue OFF 5th and Forever 21. Other tenants include Gucci, Tory Burch, Barneys New York, Longchamp, Vince Camuto, Ports 1961 and L'Occitane. AWE Talisman and Macerich led the development team for the project. Located at 5220 Fashion Outlets Way, Fashion Outlets of Chicago is minutes away from O'Hare International Airport and 15 miles from downtown Chicago. Fashion Outlets of Chicago is the first fully enclosed outlet built in the Chicago area in 20 years, according to AWE Talisman and Macerich.
MIAMISBURG, OHIO — RCG Ventures (Fund II) has purchased Miamisburg Plaza, a 111,313-square-foot shopping center in the Dayton metro area. The purchase price was undisclosed. The retail property is located two miles west of I-75 in Miamisburg and includes tenants such as Big Lots, Ace Hardware, Family Dollar, Goodwill, Burger King, Taco Bell, and Fifth Third Bank. Chris LaBounty of May Center Advisors represented the seller.
EDGEWATER, N.J. — Capstone Realty Group has purchased Marketplace at Edgewater, an 88,641-square-foot shopping center, and an adjoining 10,030-square-foot pad site in Edgewater, for $20.6 million. The shopping center sold for $16.4 million and the pad site for $4.2 million. Built in 1990 on 6.4 acres, the center is situated along the Hudson River near the George Washington Bridge at 725 Tower Road. Trader Joe’s anchors the shopping center. Other tenants include Animal General, Binghampton Bagel, Chase Bank, Fast Frames, H&R Block, PetValu, River Pet Resorts and Scerbo Physical Fitness. Mark Taylor, Dean Zang and Christopher Munley of Marcus & Millichap represented the seller, a private investor. Greg Babaian, also of Marcus & Millichap, represented Capstone in the transaction.
ALLEN — The Woodmont Co. has brokered the sale of the 55,560-square-foot McDermott Commons retail center to a private investment firm. The property, located at McDermott Drive and Custer Road, is anchored by Jumpstreet Trampoline Park and includes two outparcels leased to Taco Bell/Pizza Hut and Wendy's and a freestanding building leased to BB&T Bank. The buyer has retained The Woodmont Co. to handle leasing at McDermott Commons.
YULEE, FLA. — Canadian real estate investment trust H&R REIT has purchased a 175,000-square-foot shopping center located on northeast Florida’s Amelia Island for $20.9 million. The Village of Amelia is situated on State Road 200 in Yulee. Its anchors include Publix, Kohl’s, TJ Maxx, Ross Dress for Less and JoAnn Fabrics. The CB Richard Ellis team of Donald Jennewein, Michael Strober and Amanda Valenti represented H&R as well as the undisclosed seller in the deal.
OLIVE BRANCH, MISS. — The Boulder Group has brokered the sale of a 7,008-square-foot AutoZone located 23 miles south of downtown Memphis, Tenn., in Olive Branch. The building, which was constructed in 2004, sits on a 40,843-square-foot parcel at 7322 Hacks Cross Road. AutoZone occupies it on a triple-net lease with seven years remaining on its term. The lease features 10 percent rent escalations in the primary term and in each renewal option. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Southeast-based partnership. The buyer was a 1031 exchange investor.
JANESVILLE, WIS. — Dressbarn has leased 8,184 square feet at Pine Tree Plaza, a retail center located at 2900 Deerfield Drive in Janesville. Teresa Shemitis, vice president, and Andrew Prater, broker, at Mid-America Real Estate represented the landlord in the transaction. Dressbarn is a women’s clothing retailer for petites, misses and plus sizes.