FRESNO, CALIF. — Mission Village, a 52,950-square-foot shopping center in Fresno, has sold to MCS Guardian Properties LLC for $8 million. The center is located at 335-393 E. Shaw Avenue, and 4965 and 4987 N. Fresno Street. It is anchored by a new 24-Hour CVS/pharmacy. The center was built in 1979. It is 83 percent occupied. MCS Guardian was represented by Greg Bethke of Manco Abbott. The seller, a private Orange County investment company, was represented by Eric P. Wohl of Hanley Investment Group Real Estate Advisors.
Retail
SAN FRANCISCO – A 1,800-square-foot retail building in San Francisco has sold to JSRE Acquisitions for $4.3 million. The building is located at 69 Maiden Lane. It is the smallest building in the city’s Union Square District. The space is occupied by Bistro 69 Café. It will be vacant this fall. JSRE was represented by Tim Maas, Tony Crossley and Frank Wheeler of Colliers International.
PALM DESERT, CALIF. – Flooring Innovationshas leased a 15,800-square-foot retail building in Palm Desert. The space is located on Highway 111 at Deep Canyon. The lease was valued at $2.7 million. Kathleen Howard of NAI Capital’s Palm Desert office represented both the tenant and the landlord, CVS Drugs, in this transaction.
ARLINGTON, TEXAS – Marcus & Millichap has arranged the sale of O’Reilly Auto Retail Strip, a 19,840-square-foot retail property in Arlington. Jason Vitorino with Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. An outside Texas broker represented the buyer, a 1031 exchange investor from the West Coast. The center was 93 percent occupied at the time of sale. O’Reilly Auto Retail Strip is located at 629 West Pioneer Pkwy. in Arlington, just off Matlock Road.
GADSDEN, ALA. — Jason Stinson of Commercial Realty Services of Alabama LLC has brokered the purchase of two retail buildings once occupied by Food World in Gadsden for an undisclosed price. The two assets are approximately 45,000 square feet each and are located in Eastside Plaza Shopping Center and Canterberry Station Shopping Center. Anniston, Ala.-based GB & MH Properties LLC purchased the Eastside Plaza asset, and Birmingham-based Beltline Canterberry LLC purchased the Canterberry Station asset. Beltline Canterberry is the majority owner of the remainder of Canterberry Station Shopping Center.
NEW YORK — RKF has arranged two new leases at the 50-story Grace Building in Midtown New York for renowned chef Gabriel Kreuther’s first solo restaurant and Bluestone Lane Coffee. Kreuther’s yet-to-be-named restaurant will be located at 1114 Avenue of the Americas, directly across from Bryant Park. The property will consists of 8,000 square feet on the ground floor and 7,000 square feet on the second floor. Glen Coben of architectural and interior design firm Glen & Co. will design the restaurant. Spencer Levy and Michael Yohai of RKF represented Gabriel Kreuther and the Teton Restaurant Group in the lease. Edward Hogan and Mark Kostic represented Brookfield internally. Bluestone Lane Coffee has taken a 600-square-foot café space on the plaza at the Grace Building. Jon Krieger of RKF represented Bluestone in the transaction. Edward Hogan represented Brookfield internally. The Grace Building is co-owned by Brookfield and The Swig Co.
NEW HAVEN, IND. — Cronheim Mortgage has arranged two permanent loans totaling $4.5 million for Big Lots-anchored centers in New Haven, Ind., and Bristol, Tenn. The 75 percent LTV cash-out refinances feature a 10-year term and a 30-year amortization schedule. Both centers are located in tertiary submarkets of fewer than 15,000 inhabitants. David Turley and Anna Westhoff of Cronheim Mortgage arranged the loans for the undisclosed borrower.
SAN JACINTO, CALIF. – Circle K Stores has broken ground on a 4,500-square-fot convenience store in San Jacinto. The store will be located at 1450 S. Sanderson Ave. It will offer fresh food, a gas station with eight fuel pumps and a self-serve carwash. The new store will open later this year. The new Circle K facility represents phase one of Esplanade Commons a 90,000-square-foot, mixed-use shopping center that is being developed by Southland Development Company and RoBott Land Company.
AUSTIN — CBRE Capital Markets has arranged the sale of an .87-acre Austin retail parcel with a long-term ground lease to Wells Fargo Bank. A private investor from Wyoming purchased the building located at 1145 Airport Blvd. near the 711-acre Mueller redevelopment. Walter Saad, Cathy Nabours and Logan Reichle of CBRE represented the seller, an Austin-based private investment partnership. The property is 100 percent occupied with 13 years remaining on a 20-year ground lease. Wells Fargo renovated the building in 2007.
SUN CITY CENTER, FLA. — Phillips Edison-ARC Grocery Center REIT II Inc. has purchased Kings Crossing, a 75,020-square-foot grocery-anchored shopping center in Sun City Center, part of the Tampa MSA. Publix anchors the shopping center, which also houses Sally Beauty Supply, Subway and The UPS Store. With this acquisition, the REIT’s portfolio features eight properties representing an aggregate purchase price of approximately $116 million.