CHICAGO — The Boulder Group has arranged the $1.6 million sale of a single-tenant, net-leased 7-Eleven property in Chicago. The 3,200-square-foot retail building, located at 3005 N. Pulaski Road, was developed in 2013. The property is fully leased to 7-Eleven, which has 10 years of lease term remaining and a 10 percent rental escalation in 2018. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based developer, in the transaction.
DENVER — Gart Investment Company has acquired Willow Run Shopping Center, a 91,565-square-foot retail outpost in the Denver suburb of Westminster, for $10.8 million. The center is located at 12900-12910 N. Zuni Street. It was 80 percent leased at the time of sale. Notable tenants include Safeway, Allstate and Subway. Outlying tenants that were not part of the sale include JPMorgan Chase, Conoco Philips and McDonalds. Gart was represented by Shaun Riley of Faris Lee Investments. The seller, TNP SRT Willow Run, LLC, was represented by Richard Chichester, Jeff Conover and Tom Chichester of the same firm.
MONUMENT, COLO. – A 16,399-square-foot shopping center in Monument has sold to a private San Diego group for $3.7 million. The multi-tenant center is located at 556-590 W. Highway 105, just north of Colorado Springs. It is fully occupied by tenants like UPS, Great Clips and Subway. The center is anchored by Safeway, though this space was not included in the sale. Patrick G. Kent of Hanley Investment Group represented both the buyer and the seller, a private Colorado investor, in this transaction.
MONUMENT, COLO. – A 16,399-square-foot shopping center in Monument has sold to a private San Diego group for $3.7 million. The multi-tenant center is located at 556-590 W. Highway 105, just north of Colorado Springs. It is fully occupied by tenants like UPS, Great Clips and Subway. The center is anchored by Safeway, though this space was not included in the sale. Patrick G. Kent of Hanley Investment Group represented both the buyer and the seller, a private Colorado investor, in this transaction.
CORAL GABLES, FLA. — HFF has arranged the $38.7 million sale of Plaza San Remo, a Whole Foods-anchored retail condominium at 6701 Red Road in Coral Gables. Plaza San Remo is the retail component of a seven-story, 180,000-square-foot mixed-use development that includes retail, medical office condominiums and a 739-space parking garage. The property, which was built in 2007, was 99 percent leased at the time of sale. Danny Finkle, Luis Castillo and Kim Flores of HFF represented the seller, LIC Coral Gables Retail Inc., a Germany-based investment group, in the transaction. The seller was also advised by Dallas-based Phoenix Property Co. The buyer, an institutional investor, purchased the property clear and free of debt.
ORLANDO, FLA. — Boca Raton, Fla.-based Halvorsen Holdings has completed Town Park Shopping Center, a Publix-anchored retail property located at the intersection of Woodbury Road and East Colonial Drive in Orlando. In addition to Publix, the 64,000-square-foot shopping center’s current tenant roster includes Anytime Fitness, Hair Cuttery, TJ’s Seafood and a pizza chain. Three of the four outparcels are occupied by McDonald’s, Cheddars and Wawa.
CREST HILL, ILL. — Mid-America Real Estate Corp.’s net lease investment group has brokered the $2.3 million sale of a two-tenant, 88,000-square-foot retail building leased to Big Lots and Home Owners Bargain Outlet (HOBO) in Crest Hill. A private investor in California purchased the property from a local Chicago area investor. The property is primarily located along Larkin Avenue, bordering Plainfield Road to the north and Theodore Street to the south. Major retailers surrounding the property include Jewel/Osco, Ultra Foods, Food 4 Less and T.J. Maxx. Tom Fritz and Mark Goldberg of Mid-America Real Estate Corp. represented the seller in the transaction. Mid-America advised the seller to offer Big Lots a monetary incentive in order to obtain a fresh 10-year lease. The seller invested less than $200,000 in a new storefront in exchange for a seven-year lease extension. The move picked up an additional $400,000 in property value.
ENNIS, TEXAS — Marcus & Millichap has brokered the sale of a 31,407-square-foot retail property in Ennis, approximately 35 miles southeast of Dallas. Located at 1012 E. Ennis Ave., the asset includes a shopping center that is 92 percent leased to tenants including Sally Beauty Supply, Dollar Tree, GameStop and Starbucks Coffee, as well as the ground lease for an adjacent, freestanding location of Chili’s Grill & Bar. Vincent Knipp of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a partnership. Philip Levy, also of Marcus & Millichap’s Fort Worth office, secured the buyer, a limited liability company.
COTTAGE GROVE, ORE. – A Walgreens in Cottage Grove has received a $4.1-million loan. The Walgreens is located at 1704 E. Main Street, south of Eugene. The fixed-rate, non-recourse loan carries a 10-year term and a 30-year amortization schedule. It was secured by Cathy Bronkema of Cohen Financial through a national bank. The transaction was part of a 1031 exchange.
COTTAGE GROVE, ORE. – A Walgreens in Cottage Grove has received a $4.1-million loan. The Walgreens is located at 1704 E. Main Street, south of Eugene. The fixed-rate, non-recourse loan carries a 10-year term and a 30-year amortization schedule. It was secured by Cathy Bronkema of Cohen Financial through a national bank. The transaction was part of a 1031 exchange.
