Retail

LA FITNESS TO OPEN FIRST RHODE ISLAND LOCATION

by admin September 5, 2012

CRANSTON, R.I. — LA Fitness has chosen Garden City Center as its first Rhode Island location. The sports club will be next to OfficeMax in a two-story, 38,000-square-foot facility that will be designed to resemble a hotel inside. The LA Fitness outlet will replace a closed Borders bookstore at the center, which will be demolished. Construction will begin in January 2013 and the club is expected to open in December 2013 or early 2014. The LA Fitness location will be the second phase of a multimillion dollar expansion and renovation of the shopping center, which Wilder Cos. launched in the spring. Phase I includes a new 20,000-square-foot building linking the center's two sections.

September 5, 2012

THREE-TENANT RETAIL BUILDING SELLS FOR $3.45M

by admin September 4, 2012

COLUMBIA, MD. — The 4,722-square-foot Shoppes at Dobbin Center, a three-tenant retail building located in Columbia, has sold for $3.45 million. The property is leased to Starbucks, Radio Shack and Spa #1 Nails. Andrew Fallon of Calkain Cos. represented the seller in the transaction. The buyer was a Washington, D.C.-based investor.

September 4, 2012

Northeast Retail

ADVANCE AUTO NETS $2.3M IN BARNEGAT

by admin September 4, 2012

BARNEGAT, N.J. — R&R Barnegat has acquired a 6,124-square-foot, single-tenant property at 860 W. Bay Ave. in Barnegat for $2.3 million. The property is occupied by Advance Auto, which has 15 years remaining on its lease. Bob Horvath and Todd Tremblay of Marcus & Millichap procured the buyer in the transaction. Richard Geisenfeld of Capital Commercial Partners represented the seller, Primax Properties LLC.

September 4, 2012

Retail Texas

NORTHERN TOOL + EQUIPMENT OPENS CORPUS CHRISTI STORE

by admin September 4, 2012

CORPUS CHRISTI — Northern Tool + Equipment has signed a lease to open a 15,000-square-foot store, located at 4914 S. Padre Island Drive in Corpus Christi. Clay Mote of Venture Commercial represented the tenant in the lease transaction. Sharon Biles of Sabre Properties represented the landlord. Northern Tool + Equipment has more than 70 stores nationwide.

September 4, 2012

Retail Western

BAKERSFIELD, PALMDALE RECEIVE TWO NEW CVS/PHARMACY STORES

by admin September 4, 2012

BAKERSFIELD, PALMDALE, CALIF. – Bakersfield and Palmdale are home to two new CVS/Pharmacy stores that were recently completed by LandMark Retail Group. The Bakersfield CVS will reside within the city’s new Grand Island Village Shopping Center, a 90,000-square-foot neighborhood/specialty style shopping center. This is the fifth CVS store LandMark has developed in the city. The Palmdale locale is inside the Vallarta-anchored shopping center on the corner of 47th Street and R Street. LandMark notes that it has 12 more CVS stores scheduled to open in California this year.

September 4, 2012

Retail Southeast

CALKAIN ARRANGES $14.5M CVS SALE

by admin August 31, 2012

WASHINGTON, D.C. — Calkain Urban Investment Advisors has arranged the $14.5 million sale of a 12,565-square-foot CVS/pharmacy, located on Columbia Road in Adams Morgan, a neighborhood of Washington, D.C. CVS/pharmacy has approximately 23 years remaining on its lease. Rick Fernandez of Calkain represented the seller in the transaction and Jerry Burg, also of Calkain, represented the buyer, a private 1031-exchange investor.

August 31, 2012

Midwest Retail

WALMART STORE TO EXPAND AT DARIEN TOWN CENTRE

by admin August 31, 2012

DARIEN, ILL. — A Walmart store at the Darien Town Centre in Darien will be converted into a Walmart Supercenter store, which will include a full grocery and general merchandise selection. The 43,000-square-foot expansion will begin this fall and include the relocation of some of the existing tenants and the center. The project will also include the demolition of a portion of the center, including the former Circuit City space, to accommodate the expansion. Retail Properties of America owns the 223,694-square-foot Darien Towne Center.

August 31, 2012

Midwest Retail

CITY WINERY OPENS IN CHICAGO

by admin August 31, 2012

CHICAGO — Summit Design + Build has completed work on City Winery Chicago, a winery, tasting room, restaurant and concert hall at 1200 W. Randolph St. in the West Loop. The 1200 W. Randolph building is a former food distribution warehouse built in the early part of the 20th centruy. The 33,000-square-foot property features three full-service bars, two kitchens, two private meeting rooms and an enclosed paved courtyard for outdoor dining or private parties. The project team also included Christopher Warnick Architecture and Phillip Katz Project Development.

August 31, 2012

Northeast Retail

COLLIERS ARRANGES $11.2M REO SALE

by admin August 31, 2012

MOUNT OLIVE, N.J. — Colliers International has arranged the $11.2 million real estate owned (REO) sale of ITC Crossing, a 179,775-square-foot shopping center in Mount Olive. Colliers represented the undisclosed seller and the buyer, Lamar Cos. The center is anchored by a 132,023-square-foot Sam's Club. Additional tenants include Staples and Subway. The property is located approximately 35 miles from Newark, N.J.

August 31, 2012

Midwest Retail

NEW DOLLAR GENERAL TO OPEN IN FORT WAYNE

by admin August 30, 2012

FORT WAYNE, IND. — Dollar General has signed a lease for 9,240 square feet of retail space at 6414 E. State Blvd. in Fort Wayne. Russ Jehl and Stan Phillips of NAI Harding Dahm represented the landlord, Georgetown Members, in the transaction.

August 30, 2012

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