VALPARAISO, ILL — Inland Real Estate Corp. has acquired the 137,509-square-foot Valparaiso Walk shopping center located at Silhavy Road and LaPorte Avenue in Valparaiso fo $21.9 million . The center is 100 percent leased, and anchored by Bed Bath & Beyond, Marshalls, Best Buy and Michaels and shadow-anchored by Aldi and Menards. Houston based CBRE Capital Markets represented the seller, IBT Group LLC in Chicago.
KOKOMO, IND. — Marcus & Millichap Real Estate Investment Services has arranged the sale of an 1,800-square-foot Starbucks in Kokomo. The net-leased property is located at 512 East Alto Road on the corner of U.S. Highway 31. Philip Levy and Alvin Mansour of Marcus & Millichap represented the seller, a limited liability company, and the buyer, a private investor.
HOUSTON AND ARLINGTON, TEXAS — Hunington Properties has arranged the sale of two 13,905-square-foot Walgreens stores, located at the intersection of Highway 6 and Bissonnet in Houston and the intersection of New York Avenue and Green Oaks Boulevard in Arlington. Todd Carlson and Sandy Aron of Hunington Properties represented the seller, a private investor, in the transaction. The seller purchased the properties from Hunington more than 10 years ago.
MIAMI — MMG Equity Partners, a privately owned real estate company, has acquired two grocery-anchored shopping centers in Miami-Dade County in two separate transactions for undisclosed prices. MMG Equity Partners acquired the 64,000-square-foot Colonial Shopping Center, located at 450 N.E. 125th St. in North Miami. It is anchored by a Presidente Supermarket. The firm also acquired Tropical Shopping Center, which is located at 8100 N. Miami Ave. and anchored by a Tropical Supermarket.
ANN ARBOR, MICH. — Agree Realty has purchased the Landmark building on the University of Michigan campus in downtown Ann Arbor for $5.8 million. Built in 1937, the 18,000-square-foot building was formerly occupied by Kresge’s department store and later Michigan Book & Supply.
SOUTH PORTLAND, MAINE — Nordstorm plans to open a 30,000-square-foot Nordstrom Rack this spring at the Maine Crossing Shopping Center in South Portland. The store, which will carry merchandise from Nordstrom stores and Nordstrom.com at 50 to 60 percent off original prices, will be the retailer's first location in the state. The new Nordstrom Rack will join tenants such as Target, Bed Bath & Beyond and A.C. Moore.
NEW YORK CITY — CIM Group has acquired the retail portion of 225 Fifth Ave. in Manhattan's Flatiron District for a reported $80 million. The deal includes 40,079 square feet of retail space, which is fully leased to tenants such as JPMorgan Chase, 24 Hour Fitness, Verizon Wireless and the United States Postal Service. Located above the retail property is a 192-unit residential condominium building named The Grand Madison.
GOLDEN, COLO. — The Village at Golden Shopping Center has received a $4.4-million refinance. The center is located at 17700-17748 S. Golden Road in Golden. Notable tenants include Dollar Tree, Goodwill and TJ Maxx. Financing was arranged for the Denver-based borrowers by John M. Stewart and Ilan Reissner of NorthMarq’s Denver office.
ST. AUGUSTINE, FLA. — Canada-based H&R REIT purchased The Shoppes at Mission Trace, a Publix-anchored shopping center at 955 State Road 16 in St. Augustine, for $8.9 million. The 61,000-square-foot retail property was built in 2009 and is 93 percent leased. Tenants include AT&T Wireless, China Wok and a liquor store. Cliff Taylor of CBRE Private Capital Group in Jacksonville, Fla., represented the seller, a private development group based in north Florida.
LAKE WORTH, FLA. — A 9,600-square-foot Dollar General at 4400 10th Ave. North in Lake Worth has sold for $1.3 million. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer and seller in the transaction. The buyer was a California-based private partnership and the seller was a local Florida company.