GLENDALE, ARIZ. – Cactus Crossings, a 91,563-square-foot neighborhood retail center in Glendale, has sold to WVP Cactus, LLC for $7.8 million. It is located at the northeast corner of 67th Avenue and Cactus Road. The center is 92 percent occupied. Notable tenants include Anytime Fitness, Edward Jones, Ultra Cleaners and Century 21 Realty. It is anchored by Big Lots. The seller, EC Cactus Crossings, LLC, was represented by Ryan Schubert and Michael Hackett of Cassidy Turley Arizona’s Retail Capital Markets Group.
NAPA, CALIF. – Cinemark Holdings has opened a new 12-screen, all-digital movie theater in Napa. The new Cinemark NextGen cinema design concept is located at 195 Gasser Drive behind the South Napa Marketplace. It includes a Cinemark XD: Extreme Digital Cinema auditorium, as well as a new CineVino Wine Bar, which features local wines from Napa Valley and Sonoma County.
LAS VEGAS – A 6,232-square-foot building in Las Vegas that is occupied by Tire Workshas sold to an unnamed buyer for $2.1 million. It is located at 8532 Blue Diamond Road. Tire Works has 11 years remaining on its lease with three, five-year options to renew. Ray Germain and Tina D. Taylor of Marcus & Millichap’s Las Vegas office represented the seller, a limited liability company, in this transaction.
FORT WAYNE, IND. — Inland Real Estate Corp. has completed the development and leasing of Orchard Crossing, a 12,000-square-foot shopping center in Fort Wayne. The tenants include Noodles & Co., Verizon Wireless, Kay Jewelers and Sleep Number by Select Comfort. The property is located at the intersection of Illinois and Thomas roads in Fort Wayne.
NORWOOD, MASS. — Gallery Automotive Group has signed a 12,000-square-foot retail lease at 147 Morgan Dr. in Norwood. Gallery Automotive is a new and pre-owned car dealership featuring BMW, Honda, Mazda and Volkswagon brands. The company will house its auto parts division at the new space. Elliott Ravech of Elliot & Co. represented the landlord, CMI Property Inc., in the transaction.
LAS VEGAS – A 6,232-square-foot building in Las Vegas that is occupied by Tire Workshas sold to an unnamed buyer for $2.1 million. It is located at 8532 Blue Diamond Road. Tire Works has 11 years remaining on its lease with three, five-year options to renew. Ray Germain and Tina D. Taylor of Marcus & Millichap’s Las Vegas office represented the seller, a limited liability company, in this transaction.
LEBANON, PA. — Marcus & Millichap has arranged the $5.9 million sale of a 13,225-square-foot CVS/pharmacy in Lebanon. The property, built in 2008, is located at 2200 West Cumberland St. CVS has 22 years remaining on its lease. Michael Shover and Matt Gorman of Marcus & Millichap represented the seller, a developer, in the transaction. They also represented the buyer, a private investor.
ORTING, WASH. – The Pioneer Village Shopping Center in Orting, a tertiary market about 40 miles south of Seattle, has received a $9-million loan. The 82,130-square-foot, Safeway-anchored center is 92 percent leased. The 20-year loan features a 20-year amortization period and an interest rate in the 4-percent range. It was provided by Mike Wood and Andrew Patterson of NBS Financial Services.
JACKSON, MISS. — The first Whole Foods Market in Mississippi has broken ground at Highland Village shopping center in Jackson. The 31,000-square-foot grocery store featuring natural and organic products will open in 2013. Chesnut Hill, Mass.-based WS Development is the project’s new joint venture partner. The development firm acquired a controlling interest in the 220,000-square-foot Highland Village last month.
NEWPORT NEWS, VA. — Ernest Kashouty Trust has sold the former Casey Auto and Collision Center at 975 J. Clyde Morris Blvd. in Newport News to VCT Enterprises LLC. The five-acre auto sales and collision center includes four buildings including the former BMW and Volkswagen showrooms and 275 parking spaces. Ned Brooks and Kevin Curran of CBRE/Hampton Roads represented Ernest Kashouty Trust in the transaction.