DURHAM, N.C. — Berkeley Capital Advisors has brokered the sale of Hope Valley Square, a 40,383-square-foot shopping center located in Durham. The U.S. Postal Service anchors the property. The Berkeley team of Rob Carter, Alex Quarrier and David Webb represented the seller, Hawthorne Shannon Plaza. DNA Partners purchased the property for an undisclosed amount.
HOMESTEAD, FLA. — The Miami office of Grandbridge Real Estate Capital has originated $14.38 million in permanent financing for Oasis Plaza Shopping Center, a 68,000-square-foot retail property located in the Miami suburb of Homestead. The non-recourse loan carries a 10-year term and a 30-year amortization schedule. Grandbridge’s Philip Carroll and Michael Balan arranged the deal on behalf of the undisclosed borrower through a life insurance company.
WINDHAM, MAINE — A triple-net ground lease on a 138,134-square-foot Lowe’s in Windham has sold for $12.4 million or, $90 per square foot. Robert Horvath, vice president of investments, and Todd Tremblay, associate vice president of investments, at Marcus & Millichap’s Boston office, represented the seller, a regional owner and developer. The buyer is an institutional investor specializing in net-lease properties. The original 20-year lease was signed in March 2005 and includes six five-year options. The building is located at 64 Manchester Drive, about 20 miles north of Portland.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of a 17,645-square-foot retail property triple-net leased to Backwoods Equipment Co. The property is located at 2727 W. 7th St. in Fort Worth. Philip Levy of Marcus & Millichap's Fort Worth office represented the seller, River Sharpe Holdings Ft. Worth, a limited liability company, in the transaction. Backwoods has more than 11 years remaining on its lease.
LITTLETON, COLO. – A 4,820-square-foot retail and industrial building in Littleton has sold to an unnamed buyer for $1.2 million. The three-tenant, triple-net-leased property is located at 231-251 West County Line Road. The building is anchored by an Allstate drive-thru claims center. The seller, Advanced Property Services, was represented by Sam Leger and Tim Finholm of Unique Properties, LLC – TCN Worldwide.
DURHAM, N.C. — Berkeley Capital Advisors has arranged the sale of a McDonald’s absolute net ground lease for $1.37 million. The property, which is located in Durham, totals approximately 1.7 acres. McDonald’s has a new 20-year lease in place. Berkeley’s Steve Horvath and Jay Levell represented the undisclosed seller. The buyer was a private trust.
ANN ARBOR, MICH. — Knight’s Steakhouse has signed a 5,200-square-foot retail lease at the former Borders flagship store in Ann Arbor. Knights will occupy the corner space in the multi-use redevelopment project located on the central campus of the University of Michigan. The property, which is located at 600 E. Liberty St., will be Knight’s third restaurant in Michigan. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor represented the landlord, Hughes Properties, and the tenant in the transaction.
ONEONTA, N.Y. — Marcus & Millichap has arranged the $6.9 million sale of a 12,000-square-foot Walgreens located at 99 Chestnut St. in Oneonta, about 50 miles south of Utica. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, the project developer. The Walgreens triple-net lease has 21 years remaining on the primary term and two rare five-year options followed by 40 one- year options. The site is located across from Hartwick College and is near the State University of New York College at Oneonta. The colleges have a combined enrollment of more than 7,300 students. Surrounding retailers include BJ’s Wholesale Club, Walmart Supercenter, The Home Depot, Advance Auto Parts and Lowe’s. The Marcus & Millichap Ft. Lauderdale office represented the buyer.
LITTLETON, COLO. – A 4,820-square-foot retail and industrial building in Littleton has sold to an unnamed buyer for $1.2 million. The three-tenant, triple-net-leased property is located at 231-251 West County Line Road. The building is anchored by an Allstate drive-thru claims center. The seller, Advanced Property Services, was represented by Sam Leger and Tim Finholm of Unique Properties, LLC – TCN Worldwide.
DALLAS — The CBRE retail brokerage and project management team in Dallas has arranged the expansion of Seattle's Best Coffee to 10 locations throughout the Dallas/Fort Worth Metroplex. Daniel Taylor, Chris Sacks and Andrew Wiley provided market evaluation, mapping and demographic analysis, site selection and lease negotiations for the coffee retailer. Sean Goff and April Desabrais of CBRE's project management team established a cost efficient approach to construction. The 10 sites are located in Dallas, Fort Worth, Burleson, Lancaster, McKinney and Rockwall.
