Flanders, N.J. — Weis Markets has signed a lease for 58,546 square feet of retail space at Sutton Plaza in Flanders. The plaza, which is owned by Armstrong Capital, is 163,500 square feet. Tenants in the shopping center include Tractor Supply, Dollar Tree, GNC and Supercuts. Bob Delia of Summit Realty LLC and Rick Rizzuto of Cushman & Wakefield represented the landlord. Glen Marvin of Metro Commercial Realty represented Weis Markets in the deal.
IRVINE, CALIF. — Irvine-based Faris Lee Investments has arranged the sale of six Walgreens properties around the country for $33 million. Two of the Walgreens locations include 302 University Place in Durant, Okla., and 2008 W. Palma Vista Drive in Palmview, Texas. Matt Mousavi and Patrick Luther of Faris Lee represented the buyer, an all-cash private investor based on the East Coast, in the sale of the Oklahoma store. Luther and Mousavi also represented the seller, a private owner based in Denver. LDW Palmview LLC purchased the Texas store from Dallas-based McClure Partners. Mousavi of Faris Lee represented both the buyer and seller in the transaction. The other four Walgreens included in the $33 million transaction are located in Johnson City, Tenn.; Abingdon, Va.; Aiken, S.C.; and Ooltewah, Tenn.
MIAMI — Miller Construction Co. has completed the renovation and expansion of Fisher Island Club's 24,000-square-foot Spa and Fitness Center in Miami. The work includes a renovated lobby, six new pools and a state-of-the-art fitness center. The construction team preserved the exterior of the historic building, which was originally the private plane hangar at the 1920s-era Vanderbilt family Fisher Island estate. BC Architects designed the renovation.
NORWICH, N.Y. — A private investor has purchased Tops Plaza, an 85,453-square-foot grocery-anchored strip center for $4.4 million. The retail property is located at 54 E. Main St. in Norwich, about 100 miles west of Albany. Joseph French and Thomas Dalzell of Marcus & Millichap represented the buyer and the seller, a public REIT, in the deal.
NEW YORK CITY — Sierra Realty LLC was named property manager for 875 Washington Street, a 75,000-square-foot retail building. Located in the Meatpacking District at the intersection of Washington Street and West 14th Street, the building was purchased in December by a partnership between Thor Equities LLC and ASB Real Estate Investments.
LOVELAND, COLO. – A First Tech Federal Credit Unionbuilding in Loveland has sold to a 1031 exchange investor from California for $3.2 million. It is located at 1371 Sculptor Drive within the Van De Water Plaza. The credit union has six years left on its 10-year lease with an additional 10-year option to renew. The seller was represented by CBRE’s National Retail Investment Group-Westin this all-cash transaction.
CHICAGO — Chicago Coffees and Teas has purchased a 42,000-square-foot industrial building, located at 2144 S. Carpenter St. in Chicago. The company chose the location due to its proximity to I-290 and I-90. The purchase price was not disclosed. Mark Nelson and Michael Nelson of NelsonHill represented the owner, Sitex Group. Dan Steinberg of Domain worked on behalf of the buyer in the deal. Chicago Coffees is a purveyor of sustainably grown gourmet coffees, teas and equipment for Chicago’s restaurants and hotels.
HARRISBURG, PA. — HFF has secured a $3.1 million loan for Uptown Shopping Plaza, a 150,000-square-foot retail center in Harrisburg. HFF worked on behalf of the borrower, LCL Management LLC, to secure the 10-year loan through Harrisburg-based financial services provider Metro Bank. Uptown Shopping Plaza is located at the intersection of North Seventh and Division streets. Save-A-Lot anchors the retail center and other tenants include Dollar Tree, Family Dollar, Subway, H&R Block, McDonald’s and Rainbow Apparel.
NEW YORK CITY — Marcus & Millichap has arranged the sale of two vacant commercial condos for $4.3 million. The condos are located at 490-506 Greenwich St. in New York City. Marcus & Millichap represented the seller, a private investor, and the buyer in the deal.
ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of The Shoppes at Brownstone, a 8,110-square-foot retail property located at 2410 W. Abram St. in Arlington. The retail property is fully leased to tenants such as Sugar Bee Sweets, Patty's Pantry, Oro Fino Custom Jewelry, Healthy Solutions, Derma Spa and Zen Salon. Chris Gainey and Philip Levy of Marcus & Millichap's Fort Worth office represented the seller, Pennington Family LP, in the transaction. Mercer Lacy LLC purchased the property.