CANTON, OHIO — The 11,400-square-foot Jared Jewelers Center in Canton has sold to a private group in Youngstown, Ohio for $4.6 million. The building is fully leased and tenants include Jared The Galleria of Jewelers and Danner Dental. Dan Cooper of Cooper Commercial Investment Group represented the owner, a private investor from Cleveland, in the transaction. He also secured the buyers.
WILBRAHAM, MASS. — M. Dunitz Business Holdings Group, a Delaware-based limited partnership, has acquired the Big Y Plaza in Wilbraham for $18.1 million. The 63,850-square-foot Big Y supermarket opened at 2031 Boston Road in 2008. Shortly thereafter, a Red Robin restaurant opened on the site's outparcel. Matt Halprin of New England Properties represented the seller, Merchant Wilbraham LLC, in the transaction. Dan Barnes of Lee & Associates represented the buyer.
MONTVALE, N.J. — Life Time Fitness has closed on its purchase of One BMW Plaza, the 129,346-square-foot former BMW facility in Montvale. The Minnesota-based health and lifestyle club has recently obtained approvals to level the existing structure and construct a state-of-the-art fitness center on the site. Construction is slated to begin either later this month or early September. Robert Kossar, David Knee, Joel Lubin, Blake Chroman and Christopher Hile of Jones Lang LaSalle represented the seller, a group of charitable trusts, in the transaction. Kenneth Lundberg of NAI Hanson represented Life Time Fitness.
FORT WORTH — Marcus & Millichap has brokered the $7.14 million sale of a 12,738-square-foot CVS/pharmacy drugstore, located at 2603 W. Berry St. near the entrance to Texas Christian University (TCU) in Fort Worth. Lior Regenstreif of Marcus & Millichap's Encino, Calif., office represented the seller, a REIT, in the transaction. Scott Sandelin of Marcus & Millichap's Miami office represented the buyer, a private investor. Timothy Speck of Marcus & Millichap's Dallas office served as the firm's broker of record in Texas.
TORRANCE, CALIF. – A2,180-square-foot retail property in Torrance has sold to Bobecka LLC for $1.75 million. The free-standing building was constructed in 1973. Sheri Messerlian and Damon Wyler of NAI Capital’s South Bay office represented both the buyer and the seller, Rosenbaum, in this transaction.
CLAYTON, N.C. — Crosland Southeast plans to construct the first phase of the 125,000-square-foot Flowers Crossroads, located on Highway 42 in Clayton. The shopping center will be part of the 28-acre Flowers Plantation, a master-planned community. A 53,000-square-foot Harris Teeter will anchor the center. The first phase will break ground in the fall with completion slated for fall 2013.
MASON, OHIO — Squire Hill Properties II has acquired the Shoppes of Deerfield South, a 20,150-square-foot retail center in Mason, for $3.2 million. The center is 89 percent occupied and tenants include AAA, GameStop and SuperCuts. The transaction is Viking Partners' first disposition, which acquired 10 assets in its first fund. A team from Colliers International, including Steve Timmel, Jeff Johnston and Chris Prosser, represented Viking Partners in the deal.
ELKHART, IND. — RV Parts Nation has signed a lease for 47,253 square feet of retail space at the North Pointe shopping center, located at 3267 Northview Dr. in Elkhart. The RV parts and accessories retailer opened its store Aug. 1. The company joins Kmart as the second anchor tenant in the center. Brent Miller of FM Stone Commercial represented the tenant in the transaction. John Letherman, also of FM Stone, represented the landlord, EIG North Pointe LLC.
EAST BRUNSWICK, N.J. — NorthMarq Capital has arranged a $7.4 million loan for the refinancing of Loehmanns Plaza, a 212,134-square-foot shopping center in East Brunswick. Loehmanns is the major tenant at the center. Gary Cohen and Greg Nalbandian of NorthMarq negotiated the 5-year loan through a life insurance company. The loan contains a 25-year amortization schedule.
THORNTON, COLO. – Riverdale Shops, an 11,127-square-foot retail building in Thornton, has sold to Hyde Grandchildren, LLC for $2.7 million. The building is located at 12840 North Holly Street. It was built in 2008 and was fully occupied at the time of sale. The buyer was represented by Tom Ethington and Rob Edwards of Pinnacle Real Estate Advisors. The unnamed seller was represented by CBRE’s Riki Hashimoto and Dan Grooters.