PAPILLION, NEB. — The Lerner Co. and RED Development have begun construction on a new Sam’s Club in Papillion, a southern suburb of Omaha. Sam’s Club will open at Settler’s Creek Shopping Center, located at 72nd Street and Cornhusker Road. The new location, scheduled to open in the fall of 2014, will feature a pharmacy, optical department, fuel station and photo center to serve members in the community. Sam’s Club will join Walgreens and Hobby Lobby, which have previously opened at Settler’s Creek. When completed, the Settler’s Creek Shopping Center development will total 250,000 square feet.
GOODYEAR, ARIZ. — Palm Valley Pavilions East, a 35,199-square-foot retail center in Goodyear, has sold to Claxton Real Estate LP 1 for $4.8 million. The center is located at SE McDowell and Litchfield roads. The buyer was represented by Tivon Moffitt and Peter Bauman with Colliers International. The seller, MEI Properties LLC, was represented by Andrew Fosberg, Steve Fernandez and Joseph Compagno of CBRE’s Phoenix office.
LOS ANGELES — Reseda Plaza, a 10,000-square-foot shopping center, has sold to Collins 36 Ltd. for $4 million. The center is located at 18300 Vanowen in the Los Angeles submarket of Reseda. The buyer was represented by Paul Kenworthy of Charles Dunn Company. The private seller was represented by Cheryl Pester of NAI Capital.
CLERMONT, FLA. — Plaza Advisors has brokered the sale of Clermont Crossings at Lost Lake, a 149,698-square-foot shopping center located in Clermont, a suburb of Orlando. The property was 91 percent leased at the time of sale. The property includes a 11,254-square-foot strip center tenanted by Jimmy Johns and Flippers Pizzeria. Commons at Twin Lakes Associates LLC purchased the shopping center from KMH LLC. Jim Michalak and Mike Cvetetic of Plaza Advisors represented the seller in the transaction.
MURFREESBORO, TENN. — Dollar General Corp. has opened its 11,000th store, located in Murfreesboro, about 34 miles south of Nashville. Dollar General anticipates opening 650 new stores in 2013 and creating approximately 6,000 new jobs. The company has created nearly 30,000 new jobs since 2007.
LAKE ZURICH — Marcus & Millichap has arranged the $1.1 million sale of Trader Joe’s Out Parcel Center, a 2,995-square-foot retail property in suburban Chicago. Sean Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Oak Brook office, marketed the property on behalf of the seller, a private investor. The California-based buyer was a private individual in a 1031 tax-deferred exchange. Trader Joe’s Out Parcel Center is located at 797-799 W. Main St. in Lake Zurich. FedEx and GameStop, which both signed five-year leases in 2008, occupy the center. FedEx recently signed a five-year extension, while GameStop signed a two-year. The property is situated across from the Village Square Shopping Center, which is anchored by TJ Maxx, OfficeMax, Petco, MC Sports and Trader Joe's.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of a 45,346-square-foot property net-leased by Sonic Restaurants Inc. in Fort Worth. Situated at 8661 North Beach St., the location benefits from daily traffic counts in excess of 26,630 vehicles per day. Sonic has more than eight years remaining on the lease and multiple five-year extension options. Vincent Knipp of Marcus & Millichap’s Fort Worth office represented the seller, a partnership. Alex Bouchard and Gus Lagos, of Marcus & Millichap’s Houston office, secured the buyer, also a partnership.
CLERMONT, FLA. — Marcus & Millichap has brokered the sale of Oakley Square Shopping Center, a 30,214-square-foot unanchored retail strip center located at 1500 Oakley Seaver Drive in Clermont. The shopping center sold for approximately $7.5 million. The shopping center’s tenants include AT&T, Firehouse Subs, The Vitamin Shoppe, Mattress One, Robata Japanese Steakhouse, CFE Credit Union, Key Health Pharmacy and Massage Envy. Ronnie Issenberg, Gabriel Britti, Jonathan Gerszberg and Roee Ben-Moshe of Marcus & Millichap’s Miami office represented the seller, an investment fund based in Bay Harbor Islands, Fla., in the transaction. Issenberg, Britti and Ben-Moshe also secured and represented the buyer, a Miami-based limited liability company.
NAGS HEAD, N.C. — CBRE | Hampton Roads has arranged the $2.7 million sale of South Beach Plaza, a two-building retail property located at 2424 S. Croatan Highway in Nags Head, part of North Carolina’s Outer Banks barrier islands. The 20,872-square-foot property’s tenants include Dunkin’ Donuts, Viva Mexican Restaurant, Sweet Frog Premium Yogurt and Jersey Mike’s. Patrick Gill and Joanna Hastings of CBRE | Hampton Roads represented the seller in the transaction.
CONROE, TEXAS — Jones Lang LaSalle (JLL) has brokered the sale of Montgomery Plaza, a shopping center totaling 304,867 square feet in Conroe, approximately 40 miles north of Houston. Academy Sports & Outdoors, Big Lots, Conn’s Appliances and Petco are among the tenants of the property, which was 95 percent leased at the time of the transaction. George Cushing and Wendy Vandeventer of JLL represented the seller, Weingarten Realty. American National Insurance Co. purchased the asset.