FRISCO, DALLAS AND WEATHERFORD — UCR Investment Sales has secured the sale of three retail properties in the Dallas/Fort Worth area totaling 20,441 square feet. The properties include the 10,227-square-foot Teel Village, a shopping center located in Frisco that is fully leased to Dunkin Donuts, Subway, RE/Max, Alpha Primary Healthcare and Dr. Oved. The second property is a new retail center in Dallas fully leased to Starbucks and Chipotle Mexican Grill. The last property is an On the Border ground lease in Weatherford. The property is an outparcel of the 271,829-square-foot Weatherford Marketplace. Tommy Tucker of UCR represented the sellers in each transaction.
DALLAS — Dallas-based Bradford Commercial Real Estate Services has brokered the sale of an 8,964-square-foot gas station and a 1,270-square-foot car wash, located at 18120 Coit Road in north Dallas. Leigh Richter of Bradford Commercial represented the seller, Illinois Mutual Life Insurance Co. Holdings LLC, in the transaction. The buyer was a local private investor represented by an independent, Dallas-based broker.
TYLER — A 58,000-square-foot Super 1 Foods store is set to break ground on East Gentry Parkway in Tyler. NFL Hall of Famer and Heisman Trophy winner Earl Campbell will be present at the groundbreaking ceremony to help market his meat products line, Earl Campbell Meat Products. Brookshire Grocery Co. is the parent company of the Super 1 Foods brand in Texas, Louisiana and Arkansas.
SONORA, CALIF. – Downtown Sonora Plaza, a 40,600-square-foot shopping center, has sold to Dwares Group for a little more than $3 million. The center is currently 94 percent leased. Notable tenants include anchor Save Mart, along with a regional pharmacy and community bank. Dwares plans to renovate the property. The company was represented by Patrick Follett and Jon Gianulias of Core Commercial. Follett also represented the unnamed seller.
BRENTWOOD, CALIF. –The Streets of Brentwood, a 305,428-square-foot lifestyle center in the West Los Angeles submarket of Brentwood, has sold to a partnership between DRA Advisors and RED Legacy for $72.1 million. It is located at 2565 Sand Creek Road. The acquisition also included a parcel of land approved for Phase II development and 110,000 square feet of additional retail space. Notable tenants at the center include REI, Banana Republic, DSW, Ulta Cosmetics, Ann Taylor and Jos. A. Bank. It is anchored by a 14-screen Rave Theater. Alfred Hackbarth of SRS Real Estate Partners represented both the buyer and the seller, Brentwood Specialty Center, LLC, in this transaction.
MONTGOMERY, ALA., AND DOUGLAS, GA. — New Hope, Pa.-based National Net Lease Realty has arranged two sales of triple-net leased CVS/pharmacy properties in Alabama and Georgia. National Net Lease Realty’s Terry Marks represented the seller, a Southern California-based limited liability company, in the $4.2 million sale of a 13,706-square-foot CVS/pharmacy property that was built in 2005 at 3050 Zelda Rd. in Montgomery. Another West Coast-based limited liability company purchased the property, including the assumption of a CMBS loan through Wells Fargo. CVS/pharmacy has 19 years remaining on its lease. Marks also facilitated the $3.7 million sale of a 10,880-square-foot CVS/pharmacy at 912 W. Ward St. in Douglas. The pharmacy and retail company has 19 years remaining on this Georgia triple-net lease as well. Marks represented the seller, a Southern California-based limited liability company. A West Coast-based limited liability company purchased the property, which also includes the assumption of a CMBS loan through Wells Fargo.
GAITHERSBURG AND GERMANTOWN, MD. — H&R Retail, the largest retail-only brokerage firm in the Washington, D.C./Baltimore metropolitan area, has completed three retail leases. LA Fitness leased 39,192 square feet at Crown Farm, Sam Eig Highway and Fields Road in Gaithersburg from JBG Associates. H&R Retail’s Marc Katz, David Ward and Geoffrey Mackler represented LA Fitness. Buffalo Wings and Beer leased 4,418 square feet at Kingsview Shopping Center on Leaman Farm Road in Germantown from Giant of Maryland. H&R Retail’s Jim Crilley represented the landlord in the transaction. Finally, Education Outlet leased 2,040 square feet at Diamond Square Shopping Center on Bureau Drive in Gaithersburg from Giant of Maryland. Crilley represented Education Outlet.
SPRING LAKE, MICH. — Three Strands Properties has acquired a 29,671-square-foot retail building in Spring Lake for $360,000. The property is located at 18000 Cove Ave. Bryan Bench of Signature Associates represented the seller, Coastal Real Estate Holdings, in the transaction.
PHILADELPHIA AND HANOVER, PA. — JC Penney has opened two new stores at retail centers owned by Pennsylvania Real Estate Investment Trust in Pennsylvania. The company opened a 125,000-square-foot store at Will Grove Park in suburban Philadelphia and an 83,000-square-foot store at North Hanover Mall in Hanover. Both locations will feature a 1,700-square-foot “Sephora inside JC Penney,” which will offer cosmetic brands.
DALLAS — Satterfield & Pontikes Construction has broken ground on a 185,000-square-foot Walmart Supercenter, located at Ledbetter Drive and R.L. Thornton Freeway in south Dallas. The $15.5 million project is slated for a summer 2013 completion. Dallas-based Raymond Harris & Associates is providing architectural services, Ellison Gage & Associates is providing structural engineering services, Henderson Engineers is providing MEP engineering services and Kimley-Horn and Associates is providing civil engineering services.