WILSONVILLE, ORE. — Rite Aid has renewed its lease for 516,693 square feet at the Wilsonville Distribution Center. The center is located at 29555 SW Boones Ferry Road just south of Portland. The drugstore utilizes this facility as its Pacific Northwest regional distribution center.Rite Aid was represented by Tyler SheilsandTodd Hughesof Jones Lang LaSalle. The center is owned by GE Capital.
SUMTER, S.C. — Construction is under way on The Shops on Broad, a new 5,000-square-foot building on Broad Street in Sumter that will house an Aspen Dental and Starbucks. McMillan Padzan Smith is the project architect and DooleyMack Constructors will handle the construction. GrandSouth Bank provided the construction financing for the project. Carolina Holdings will own and manage The Shops on Broad, which will be located directly in front of Lowe's Home Improvement. The project is slated for completion in the third quarter of 2013.
DIAMOND, ILL. — The Boulder Group has arranged the sale of a net-leased Advance Auto Parts property, located at 1135 E. Division St. in Diamond, for $1.6 million. The 6,125-square-foot Advance Auto Parts was built in 2012 and is located 60 miles southwest of downtown Chicago. The building is situated along Highway 113 and is an outparcel to Berta Crossing, a recently constructed retail center featuring Dollar General and Ace Hardware. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, an Ohio-based investor, and the seller, a Midwest-based partnership.
SAUGUS, MASS. — Marcus & Millichap has arranged the sale of a CVS/Pharmacy property in Saugus for $9.6 million. The building, which is located at 1075 Broadway, spans 12,900 square feet. Laurie Drinkwater and Seth Richard of Marcus & Millichap represented the buyer in the transaction. Dean Zang and Mark Taylor of Marcus & Millichap represented the seller.
HOUSTON — Houston-based Gordon Partners has purchased the 190,000-square-foot Northwest Village Shopping Center, located at the corner of Highway 290 and Jones Road in Houston. The property is 87 percent leased to 35 tenants, including Spec's Wines, Liquor and Finer Foods, Harbor Freight Tools, Exclusive Furniture, T-Mobile and Subway. Gordon Partners plans to remodel the center and create junior anchor space opportunities. The shopping center is Gordon Partners' first Houston acquisition. The seller in the transaction was Baceline Value Fund I.
WILSONVILLE, ORE. — Rite Aid has renewed its lease for 516,693 square feet at the Wilsonville Distribution Center. The center is located at 29555 SW Boones Ferry Road just south of Portland. The drugstore utilizes this facility as its Pacific Northwest regional distribution center.Rite Aid was represented by Tyler Sheils and Todd Hughes of Jones Lang LaSalle. The center is owned by GE Capital.
FONTANA, CALIF. – A 29,398-square-foot retail property in Fontana that is occupied by Family Dollar and Harbor Freight Tools has sold to a private investor for $4 million. It is located at 8933 Sierra Ave. Alvin Mansour of The Mansour Group of Marcus & Millichap Real Estate Investment Services represented both the buyer and the seller, a developer, in this transaction.
JOHNSON CITY, N.Y. — Johnson City Town Center, an 83,866-square-foot retail property, has sold for $10.8 million to a Canadian equity fund. The property is located at 420 Harry L Drive in Johnson City, about 70 miles south of Syracuse. The 34,627-square-foot Christmas Tree Shops anchors the retail center. Other tenants include Petco, Party City, Five Below and Lumber Liquidators. Steven Stoehrer and Preet Sabharwa of Marcus & Millichap represented the seller, a New York-based development fund, in the deal.
FONTANA, CALIF. – A 29,398-square-foot retail property in Fontana that is occupied by Family Dollar and Harbor Freight Tools has sold to a private investor for $4 million. It is located at 8933 Sierra Ave. Alvin Mansour of The Mansour Group of Marcus & Millichap Real Estate Investment Services represented both the buyer and the seller, a developer, in this transaction.
ST. LOUIS — Three different Crushed Red Urban Bake & Chop restaurants have received approximately $1.4 million in renovations. The properties include a 3,300-square-foot facility located at 8007 Maryland Ave. in Clayton; a 3,100-square-foot building located at 140 S. Kirkwood Road in Kirkwood; and a 5,600-square-foot property located at 313. N. Euclid Ave. in St. Louis. The Clayton location, which received $500,000 for renovations, opened recently, while the other two locations are slated to open by the end of summer. St. Louis-based Hilliker Corp. assisted Crushed Reds restaurants with site location, negotiating lease terms and allowance from landlords toward renovations. Shamel Contracting completed the Clayton remodeling.