RIVERSIDE, CALIF. – A 6,160-square-foot, single-tenant property that is occupied by Chase Bank in Riverside has sold to a private Los Angeles investor for $5 million. The property is located at 10355 Magnolia Ave. The buyer was represented by George Y. Ragheb of Entrance Homes. The seller, 665 Claremont LP, was represented by William B. Asher, Kevin T. Fryman and Edward B. Hanley of Hanley Investment Group Real Estate Advisors.
FERNDALE, WASH. – A 2,812-square-foot, net-leased building in Ferndale that is occupied by Jack in the Box has sold to an unnamed buyer for $2 million. The property is located at 1819 Main Street. The seller, a limited liability company, was represented by Aaron Hines of Marcus & Millichap’s Seattle office.
LOUISBURG, N.C. AND PRINCETON, W. VA. — Marcus & Millichap has arranged the sale of two Sheetz ground leases in Louisburg and Princeton for a total of $3.6 million. The Louisburg location sold for $1.7 million, while the Princeton site sold for $1.9 million. Sheetz, a quick serve restaurant/convenient store with gasoline pumps, has 435 locations, with plans to reach 500 stores by 2015. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the buyer in the transaction. Brian Munn, also of Marcus & Millichap, represented the sellers.
WOODCLIFF LAKE, N.J. — AAG Management Inc. has sold 500 Chestnut Ridge Road, a 70,000-square-foot, grocery-anchored retail center, for $29 million. The shopping center, which is located in Woodcliff Lake, was renovated in 2011 and is fully leased. A & P Supermarket anchors the property and other tenants include Luxury Nail & Spa, A+ Cleaners, Wine & Liquors and Marco Polo’s. Jose Cruz and Andrew Scandalios of HFF represented the seller. The buyer was a private entity.
RIVERSIDE, CALIF. – A 6,160-square-foot, single-tenant property that is occupied by Chase Bank in Riverside has sold to a private Los Angeles investor for $5 million. The property is located at 10355 Magnolia Ave. The buyer was represented by George Y. Ragheb of Entrance Homes. The seller, 665 Claremont LP, was represented by William B. Asher, Kevin T. Fryman and Edward B. Hanley of Hanley Investment Group Real Estate Advisors.
FERNDALE, WASH. – A 2,812-square-foot, net-leased building in Ferndale that is occupied by Jack in the Box has sold to an unnamed buyer for $2 million. The property is located at 1819 Main Street. The seller, a limited liability company, was represented by Aaron Hines of Marcus & Millichap’s Seattle office.
HENDERSON, NEV. — LBG Realty Advisors has purchased a Home Depot building at the Sunset Plaza shopping center in Henderson for $13.5 million. Home Depot anchors the center. The acquisition also includes an undeveloped pad that could house an additional 6,000-square-foot building. LBG purchased the building in partnership with an affiliate of Aviva Investors North America. The seller was SMA Ltd.
NEW YORK CITY — Brown Harris Steven, a luxury real estate firm, has arranged the sale of The Fine Arts Building for $34 million. Located at 232 E. 59th St. in New York City, the 42,176-square-foot building was built in 1926. Fine Arts Building LLC purchased the six-story commercial property. Howard Morrel of Brown Harris Stevens represented the buyer in the deal. The seller was Battaglia Realty LLC.
SUGAR LAND, TEXAS — Fiesta Mart Inc. has leased 40,324 square feet of retail space at the Sugar Creek Village Shopping Center, located at 13833 SW Freeway in Sugar Land. Buster Freedman of United Equities Inc. represented the landlord in the transaction.
MCKINNEY, TEXAS — Playtri has signed a 10,908-square-foot lease at Times Square at Craig Ranch, a shopping center located at 7951 Collin McKinney Parkway in McKinney. When Playtri opens the store in May, it will be the largest triathlon store in the U.S. The store will feature bikes, apparel, onsite coaches and sports nutritionists, training sessions and various fitness testing at the store's Performance Center. Playtri is an official USA Triathlon Certified Performance Center. Ward Richmond, Chris Teesdale and Tom Pearson of Colliers International's Supply Chain Real Estate Advisors in Dallas represented the tenant in the lease transaction. Bry Taylor of Bryson Messer Properties LLC represented the landlord, Mid-America Apartments LP.