CLEARWATER, FLA. — The 172,596-square-foot Bayside Bridge Plaza, a grocery-anchored shopping center located at the intersection of McMullen Booth and Coachman roads in Clearwater, has traded for $17.25 million. An affiliate of Montreal, Canada-based Dalfen America Corp. sold the retail property to an affiliate of Hallandale, Fla.-based Isram Group of Companies. Bayside Bridge Plaza was built in 1989 and renovated in 2004 and 2010. A 42,112-square-foot Publix anchors the property, which is 91 percent leased. Other tenants include Family Fitness, Gatti Town Restaurant, Dollar Tree, Pet Supplies Plus and Ace Hardware. Casey Rosen, Dennis Carson and Nikolas Kozy of CBRE represented the seller in the transaction.
Retail
ROCKY MOUNT, N.C. — Crayton Commercial will redevelop the 76,400-square-foot Edgecombe Park Shopping Center in Rocky Mount. A 54,000-square-foot Roses Supercenter, which combines a traditional Roses Discount Store with a full-line grocery store, will anchor the retail property. The space will also include a national dollar store retailer and soft goods tenant. Redevelopment will include demolition and reconstruction of the building’s façade and new roof systems, HVAC, ceilings, lighting and electrical work on the interior. Edgecombe Park is scheduled for completion in summer 2013.
FRONT ROYAL, VA. — Calkain Cos. has brokered the sale of two bank pad sites that are ground leased to BB&T and Wells Fargo for $6.5 million. The properties are located within Crooked Run Shopping Center, which is anchored by Target, in Front Royal. Rick Fernandez and Betty Friant of Calkain Cos. represented the seller and buyer.
ORLANDO, FLA. — Fort Lauderdale, Fla.-based Morgan Property Group (MPG) has sold an 18.8-acre Orlando retail parcel that is ground leased to WaWa Inc. for $2.2 million. MPG acquired the parcel at Semoran and Auvers boulevards in 2007 through its affiliate Semoran Partners LLC. A freestanding Walgreens drugstore was developed and the property adjacent to Walgreens was ground leased to WaWa, a convenience store that will feature eight pumping stations when it opens in the first quarter of 2013. Dean Zang of Marcus & Millichap represented the seller, while Clinton Textor of Marcus & Millichap represented the buyer.
CHICAGO — The Roosevelt Collection, a mixed-use property at Roosevelt Road and Wells Street in Chicago, has secured several new retail tenants including Ulta Salon, H&M, Francesca's Collection, BlackFinn American Grille, Z Gallerie, Fleet Feet Sports, White House Black Market, Republic of Couture and Chica Loca. McCaffrey Interests and Canyon Johnson Urban Funds have been aiming to fill the surrounding retail space on the complex since buying the property last year. The Roosevelt Collection includes 342 fully leased apartments and 330,000 square feet of retail space. The owners plan to open The Shops at Roosevelt Collection in 2013, which will house the new tenants.
WAUWATOSA, WIS. — Nordstrom plans to open its first full-line store in the greater Milwaukee area at Mayfair, the largest mixed-use shopping center in Wisconsin. The 140,000-square-foot, three-level store is scheduled to open in Wauwatosa in the fall of 2015. Mayfair, which is owned by General Growth Properties, is home to more than 160 retailers including Macy's, Boston Store, Crate & Barrel and the Apple Store.
KANSAS CITY, MO. — Kansas City developer Dineplex International will begin construction next week on the inaugural location of STANDEES, a new restaurant and theater combination in the Village Shopping Center in Prairie Village. The restaurant will include seating at 43 booths and banquets, a 27-seat U-shaped bar and an outdoor patio. The three theaters average 85 seats with 31-foot wide screens and digital projection systems. The 14,000-square-foot property is slated to open in May 2013 at 3935 W. 69th Terrace.
CHICAGO — Consolidated-Tomoka Land Co. has acquired the ground lease for a JPMorgan Chase Bank property in Chicago for $3.8 million. The ground lease with JPMorgan Chase has 28 years remaining and rental rate escalations every five years.
DOVER, N.J. — FJH Whitehall LLC has acquired a 14,000-square-foot retail property in Dover, which recently opened as a new Lazy Boy Furniture store, for $2.6 million. The property is located at 500 Mount Pleasant Ave. near the Rockaway Mall. The seller was Plaza K Realty-Dover LLC. Mark Handwerker of The Goldstein Group represented both parties in the transaction.
ROCHESTER, N.H. — New England Auto Finance has leased 2,650 square feet of retail space at 115 Farmington Road in Rochester. David Choate and Rebecca Lee of Grubb & Ellis/Northern New England represented the tenant in the transaction. Paul Kiratzis of Shoe Town represented the landlord, Hermitage Place Limited Partnership.