MIAMI BEACH, FLA. — The Levi’s Building South Beach, a 10,549-square-foot retail property including a 3,300-square-foot, three-bedroom luxury loft on Miami Beach’s South Beach has sold for $8.5 million. The building is located at 826 Collins Ave. in South Beach’s fashion district that includes flagship stores for Guess, Victoria’s Secret, Aldo, Barney’s Co-Op, Diesel, Tommy Hilfiger and Puma. The Levi’s Building South Beach was constructed in the 1930s and restored in the 2000s. It is currently leased to Levi Strauss & Co. with two retail showroom spaces on the second floor. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the seller, a Miami Beach-based limited liability company, and the buyer, a New York-based private investor.
LYNDHURST, OHIO — Granite City Food & Brewery has leased 10,921 square feet of space at Legacy Village in Lyndhurst. The full-service restaurant and brewery will join tenants such as Cheesecake Factory and Bar Louie in early 2013. This is the company's second location in Ohio, with 28 other locations in the Midwestern states. Tori Nook of Kowit & Passov Real Estate Group represented the tenant in the transaction.
ADDISON — AMC Theatres has partnered with Lincoln Property Co. and the Retail Connection to bring a new theater to the redevelopment of Village on the Parkway in Addison. The AMC Village on the Parkway 9 is slated to break ground in the spring of 2013 and open in 2014. The new theater will offer a MacGuffins bar, several outposts serving concessions and every seat is a leather recliner. The redevelopment of Village on the Parkway includes a Whole Foods location slated to open in 2013.
FORT WORTH — Marcus & Millichap has arranged the sale of a new 7-Eleven ground lease on a 35,102-square-foot site in Fort Worth. Vincent Knipp and Chance Hales of Marcus & Millichap's Fort Worth office represented the 1031 exchange buyer, a Texas-based partnership, in the transaction. The 7-Eleven is slated to open in mid-December.
LAS VEGAS — A 71,551-square-foot retail building in Las Vegas has sold to Sunstone Diamond, LLC for $12.3 million. It is located at 8030-8180 Blue Diamond Road. Sunstone was represented by Gino Vincent of Mint Property Group. The seller, SA Group Properties, was represented by Cathy Jones, Paul Miachika, Mikel McCullough, Jessica Beall and Roy Fritz of Sun Commercial Real Estate.
HUNTINGTON BEACH, CALIF. – HomeGoods has signed a 10-year lease for 24,160 square feet at the Sher Lane Shops in Huntington Beach. The community center is located at the southeast corner of Edinger Avenue and Sher Lane in Huntington Beach. HomeGoodsis expected to open in a former Office Depot building in spring 2013. Other notable tenants at the center include Men’s Wearhouse, Stone Hedge Tiles and Vitamin Shoppe. HomeGoods was represented by Anthony Mansour of the Clover Company. Present Value Properties is the exclusive representative for Sher Lane Shops. Sharon Courtway executed this lease transaction on behalf of the center.
HUNTSVILLE, ALA. — Capital Advisors has secured approximately $2.18 million in acquisition financing for a Romano's Macaroni Grill at 5901 University Drive in Huntsville. The 25-year loan carries a 25-year amortization schedule. The loan's 5.25 percent interest rate is fixed for 20 years and resets to market rate on its 20th anniversary. Cotten Volman of Capital Advisors' Birmingham office arranged the financing on behalf of the borrower, Second Florida BS Investments LLC, which was provided by Capital Advisors' correspondent lender, StanCorp Mortgage Investors LLC.
CHICAGO — Broadstone Net Lease (BNL) has acquired 11 Kentucky Fried Chicken restaurants throughout Chicago in a sale-leaseback transaction. All of the sites are master leased on an absolute net basis for 14 years. The acquisition is in line with BNL's strategy to grow its office, industrial and restaurant holdings. Since late June, the company has acquired 21 net leased properties for a combined $38.3 million.
COLUMBUS, OHIO — The Shoppes of Galloway, a 28,538-square-foot retail plaza in Columbus, has sold to a private group based in Youngstown, Ohio, for $3.3 million. The property was constructed in 2004 and is 90 percent occupied. Tenants include Chase Bank, Verizon Wireless and Great Clips. Dan Cooper of Cooper Commercial Investment Group represented the sellers, a private group based in CIncinnati. He also secured the buyers.
NAPERVILLE, ILL. — Property Dynamics has acquired a fully leased, 43,762-square-foot retail property in Naperville for $4.5 million. Tenants include The Title Shop and Buffalo Wings & Rings. Jeffrey Kowal of Edge Mark LLC represented the buyer in the transaction. The seller was Inland Hartford Plaza LLC.