MIAMI BEACH, FLA. — A two-story, 22,857-square-foot Walgreens on Collins Avenue in Miami Beach’s Art Deco District has sold for $30 million, representing the highest price attained by a net-leased asset in Miami Beach in 2012. Trans World Entertainment Corp. sold the drugstore property to an international investor. Sean Shahar Ziv of Marcus & Millichap’s San Diego office represented Trans World Entertainment Corp.
Retail
RIVIERA BEACH, FLA. — A 45,973-square-foot Winn-Dixie has traded for $7.3 million at 3700 Broadway in Riviera Beach. Douglas Mandel and Howard Bregman of Marcus & Millichap’s Fort Lauderdale, Fla., office represented the seller, a Miami Beach, Fla.-based limited liability company. Gabriel Britti of Marcus & Millichap’s Miami office represented the buyer, a limited liability company from Miami.
NEW YORK CITY — Vornado Realty Trust has closed on its previously announced acquisition of a retail condominium at 666 Fifth Ave. in New York CIty for $707 million. The condo is leased to Uniqulo, Hollister and Swatch. Vornado also owns one-half of the office building above. The company's retail portfolio now includes 2.3 million square feet.
WESTPORT, CONN. — An investment consortium from New York and Darien, Conn. has purchased a two-building retail property in Westport for $18.2 million. The buildings total 50,000 square feet and are situated on 3.4 acres. Anthropologie and Balducci's are the main tenants of the property. Bruce Wettenstein and David Fugitt of Vidal/Wettenstein Commercial Real Estate represented both parties in the transaction.
NEWINGTON, CONN. — Kleban Properties, a family-owned real estate developer, has secured a $2.3 million loan for the purchase of a 10,478-square-foot retail plaza in Newington. The plaza, located at 3260 Berlin Turnpike, includes two restaurants. Washington Trust provided the financing.
MESQUITE — Denver-based Baceline Investments, a boutique private real estate investment company, has purchased the 49,125-square-foot MJ Crossing, a neighborhood shopping center located at 1418 N. Town East Blvd. in Mesquite, for $3.8 million. The shopping center is the eighth property in Baceline's No Debt Fund III portfolio. The center is fully leased to tenants such as K&G Men's Store and a Sears Outlet store.
MCALLEN — A joint venture between Cielo Realty Partners and MIMCO has purchased a vacant 79,000-square-foot retail property, located in the Las Tienddas Shopping Center at the corner of Expressway 83 and McColl Road in McAllen. The property is connected to a Target. Coler Yoakum of HFF represented the seller in the transaction. The joint venture was self-represented and plans to renovate and market the property immediately.
DECATUR, GA. — Deerwood Real Estate Capital has closed on $18.5 million in refinancing for Belvedere Plaza Shopping Center in Decatur. The 275,000-square-foot retail property is anchored by Kroger and was originally built in 1956. Other tenants include CW Price, Dollar Tree and Hibachi Grill. David Rosenberg and Mark Silbersher of Deerwood Real Estate Capital negotiated the non-recourse loan on behalf of the unlisted borrower.
WICHITA, KAN. — Several new tenants have joined Bradley Fair, a 280,000-square-foot lifestyle center in Wichita. Specialty grocer Fresh Market opened a 22,000-square-foot location, and Soma Intimates, a sleepwear retailer, also opened a new space. Versona Accessories and Apricot Lane, both women's specialty retailers, will open at the center next spring. Bradley Fair, which contains more than 50 stores and restaurants, was developed by Laham Development in 1990.
PENNSAUKEN, N.J. — Restaurant Equippers has signed a 45,524-square-foot lease at The Point in Pennsauken. Restaurant Equippers, one of the largest restaurant equipment warehouse stores in the country, will open its first location in the area in the spring of 2013. The Point is an 118,000-square-foot mixed-use complex, which previously served as a movie theater building. The property is located at the intersection of Route 38 and Route 70. Brandon Anapol of Metro Commercial Real Estate represented the tenant in the transaction. The Glimcher Group represented the landlord.