CHARLOTTE, N.C., AND NEWNAN, GA. — Two Advance Auto Parts stores in North Carolina and Georgia have sold to a California-based buyer to complete a 1031 exchange. The automotive retail property in Charlotte sold for $1.78 million and the one in Newnan sold for $1.64 million. Steve Horvath and Jay Levell of Berkeley Capital Advisors represented the unlisted seller.
APPLETON, WIS. — Heartland Dental has signed a lease for 3,358 square feet of space at 3818 E. Calumet St. in the Qdoba Plaza in Appleton. Tom Treder of Commercial Property Associates represented the landlord, PH East Appleton, in the transaction. He also represented the tenant.
WARWICK, R.I. — Winstanley Enterprises and Surrey Equities have acquired the historic Rhode Island Mall at 650 Bald Hill Road in Warwick for $38 million. The 450,000-square-foot mall originally opened as the Midland Mall in 1967 as the first two-level enclosed mall in New England. The mall portion of the property, totaling 225,000 square feet, has been vacant since closing in April 2011. The remaining standalone retail space is currently anchored by Sears, Walmart and Kohl's. The new owners plan to renovate the mall and create larger tenant spaces that cater to anchor tenants. Cushman & Wakefield represented the seller, GLL Real Estate Partners, in the transaction. Eastern Retail Properties represented the buyer.
PITTSBURGH — A joint venture between BIG Shopping Centers USA and M&J Wilkow has purchased The Waterfront, a 764,691-square-foot retail center in Pittsburgh. HFF arranged a 10-year, $81.3 million acquisition loan for the buyers through Ladder Capital. The Waterfront is located at 100-146 W. Bridge St., near the University of Pittsburgh Medical Center and Carnegie Mellon University. The property, which is a redevelopment of a steel mill, is 89 percent occupied. Tenants include Best Buy, Michaels, Petco and T.J. Maxx. John Pelusi and Gerard Sanosti led the HFF team that represented the seller.
CUPERTINO, CALIF. – A retail property in Cupertino that has recently signed 99 Ranch has received a $13-million mortgage. The 20-year, fixed-rate, permanent loan was arranged for Browman Development Company by Greg Gray of Barry Slatt Mortgage. It was provided by Thrivent Financial for Lutherans.
TORRANCE, CALIF. — A 4,229-square-foot retail strip center in Torrance has sold to a private investor for $4.6 million. The property is located at 20301 Hawthorne Blvd. It is fully occupied by 7-Eleven and the Coffee Bean & Tea Leaf. The buyer was represented by Paul Lee of Pacific Gold Coast Realty in Diamond Bar. The seller, a locally based private investor, was represented by Kevin T. Fryman and Carlos J. Lopez of Hanley Investment Group Real Estate Advisors.
HUDSON, FLA. — The 70,770-square-foot Hays Road Town Center, located at the northwest corner of Hays Road and State Road 52 in Hudson, has sold for $13 million. Sonny Molloy of Marcus & Millichap’s Atlanta represented the seller, Haysvest LLC, and the buyer was Cincinnati-based Midland Atlantic Properties. The Publix-anchored retail property was completed in the first quarter of 2011 and is 90 percent occupied. Kirk Felici of Marcus & Millichap’s Miami office is the firm’s broker of record in the state of Florida.
TAYLOR, MICH. — The Salvation Army has signed a lease for 30,162 square feet of space at the former Farmer Jack store, located at 9850 Telegraph Road in Taylor. Adam Goodman and Susan Acciaioli of Mid-America Real Estate-Michigan Inc. represented the landlord, NW-Taylor Farmer Jack, in the transaction.
CHICAGO — The Bedding Experts, a mattress retailer, has signed a lease for 1,500 square feet of retail space at 1103-1155 S. State St. in Chicago. The property is located at the intersection of Roosevelt and State streets. Michael Meksto and Jim Tsevis of NAI Hiffman represented the landlord, Supervalu Inc., in the transaction.
DALLAS — Los Angeles-based CIM Group and Open Realty Advisors have purchased 28 buildings totaling 130,000 square feet of retail, restaurant and commercial space along the Henderson Avenue corridor in Dallas. The corridor connects the Highland Park and East Dallas submarkets.