YORK, S.C., AND ATLANTA — Blanchard Real Estate Capital has acquired a 152,000-square-foot Walmart Supercenter at 970 Liberty St. in York. Joe Montgomery and Tony D’Ambrosio of Colliers International represented the unlisted seller. Blanchard has also acquired the former State Bank and Trust at 4241 Roswell Rd. in Atlanta. The 7,300-square-foot building is an outparcel to Chastain Square Shopping Center, which is anchored by Publix. The company plans to redevelop the former bank.
Retail
WHEATON, ILL. — Chicago-based developer Centrum Properties has sold a 12,996-square-foot shopping center at the intersection of Main Street and Geneva Road in Wheaton for $4.8 million. The building is fully occupied and tenants include Starbucks Coffee, GameStop, Verizon Wireless and Qdoba Mexican Grill. The property sold to a Chicago-based buyer. Chad Firsel of Quantum Real Estate Advisors represented both parties in the transaction.
NEW YORK CITY — Friedland Properties has purchased 706 Madison Ave., a 19,100-square-foot retail building in New York City, for $141.5 million. The colonial building is located on the Upper East Side and contains three levels above grade, a basement and sub-basement. Jon Caplan, Richard Baxter, Scott Latham and Yoron Cohen led the Jones Lang LaSalle team that represented the seller, BNY Mellon, in the transaction.
GARLAND — NorthMarq Capital has secured $1.5 million in first mortgage refinancing for the 54,725-square-foot Greentree Square Shopping Center, located at 4750 N. Jupiter Road in Garland. Bart Dickinson of NorthMarq's Dallas office arranged the 15-year loan to amortize over 15 years through a life company lender.
RIALTO, CALIF.– The Shoppes at Creekside, a 17,480-square-foot retail center that is anchored by Fresh & Easy and Walgreens, has sold to a private LLC for $5.1 million. It is located at 2019 North Riverside Ave. Other notable tenants include Fitness 19, Corky's Bakery and Sal y Limon. Rick Raymundo of Marcus & Millichap represented the buyer in this transaction.
VIRGINIA BEACH, VA. — Pacolet Milliken Enterprises Inc. and Republic Station LLC have entered into a joint venture to own the new Whole Foods Market in the Hilltop area of Virginia Beach. The 40,000-square-foot freestanding grocery store is located at 1800 Laskin Rd. and opened this past October. The joint venture purchased an ownership interest from the developer, S.J. Collins Enterprises. It is the 14th addition to Pacolet Milliken Enterprises’ grocery store portfolio in the past 26 months.
LARGO, FLA. — The 37,574-square-foot Champions Center shopping center has sold for $2.65 million at 3690 E. Bay Dr. in Largo. Mike Milano and Ron Schultz of Colliers International Tampa Bay represented the seller, JPMCC 2005-CIBC13 East Bay Drive LLC. The buyer, Cantor Spellman Family Partnership LLP, represented itself. The center was 66 percent occupied at the time of the transaction. Outback Steakhouse is Champions Center’s major tenant. Other tenants include Kut Doctors Barbershop, Color Pages, Miracle Ear, Vitamin Outlet, Select Staffing, Next Step Rehab, Allstate and West Shore Pizza.
GREENWOOD, S.C. — Greenville, S.C.-based Carolina Holdings has sold the two-tenant Shops at Westwood on Highway 72 Bypass in Greenwood. The property is fully leased to Mattress Firm and Aspen Dental. Carolina Holdings developed the retail property, which is situated in front of Walmart, and will continue to serve as manager on behalf of the new ownership. McMillan Pazdan Smith was the project architect and Caldwell Construction was the general contractor.
WAUKESHA, WIS. — Ramco Gershenson Properties Trust has acquired Phase II of The Shoppes at Fox River retail center in Waukesha from Opus Development Corp. The company also purchased 12.2 acres of adjoining land. The second phase of the center broke ground in May 2012 and totals more than 47,000 square feet. Tenants include T.J. Maxx, Ulta Salon and Cosmetics and rue21. Ramco also acquired the first phase of the property in 2010, which totals 273,000 square feet.
CLEVELAND — Paran Management Co. has acquired Broadway Shoppes, a 129,538-square-foot neighborhood shopping center in Cleveland. The center is located at 6835 Broadway Ave. and tenants include MetroHealth, Dollar General, Subway, Aldi and Revol Wireless.