SUWANEE, GA. — A partnership between Marietta, Ga.-based Columbia Properties and New York City-based Red Starr Management has purchased the 70,000-square-foot Suwanee Depot Shopping Center, located on Lawrenceville-Suwanee Road in Suwanee, for $5 million. Office Depot and Bodyplex Fitness anchor the center, which is 80 percent leased. The seller was Suwanee Depot Partners.
CLEVELAND AND TOLEDO, OHIO —Shopper's World plans to open a 52,000-square-foot location in Westown Square in Cleveland and a new 50,000-square-foot store in Manhattan Plaza in Toledo. In Cleveland, the department store will join Save-A-Lot, Family Dollar and Value World. At the Toledo location, additional retailers include Save-A-Lot, Citi Trends and Family Dollar. Shopper's World carries full lines of clothing as well as an assortment of shoes, linens and home decor. Greg Guyuron of Kowit & Passov Real Estate Group exclusively represents Shopper's World throughout northern Ohio.
WILTON, CONN. — Kimco Realty Corp. has acquired Wilton Campus Shops, a 97,000-square-foot retail center at 5 River Road in Wilton, for $39.7 million. The shopping center is part of a larger mixed-use complex known as Wilton River Park. Wilton Campus is 98 percent occupied and is anchored by a 47,000-square-foot Stop & Shop. The grocer is flanked on both sides by more than 20 specialty shops and restaurants. Kimco acquired the property from Keblan Properties. With the acquisition, the company now owns 70 centers in the New York metro area.
SPRING — RCG Ventures Fund II has purchased the 45,222-square-foot Best Buy, located at 19503 Interstate 45 in Spring. Super Target, Staples and Petco shadow-anchor the Best Buy location. RCG owns 66 assets totaling more than 6 million square feet.
LAKE JACKSON — Colliers International has brokered the sale of the 61,213-square-foot Brazos Crossing Shopping Center, located at 104 Highway 332 E. in Lake Jackson. The shopping center is fully leased to tenants such as PetSmart, Office Depot and Best Buy. Christopher Winters and Crady Newton of Colliers International represented the seller, Lake Jackson Crossing LP., in the transaction. Emilio Guzman and Guillermo Anaya, also of Colliers, represented the buyer, Brazos Crossing Management.
ALGIERS, LA. — N3 Real Estate and PMAT Cos. have acquired the 150,000-square-foot Algiers Plaza Shopping Center, located at General de Gaulle and Holiday drives in Algiers for $32 million in a related party sale. PMAT previously owned the center with a different partner. Winn Dixie and Walgreens anchor the center, which is 92 percent leased. The partnership plans to expand the center to 250,000 square feet. New tenants will include Ross Dress For Less, Petco and Burke's Outlet, which are scheduled to open in February 2013. Construction is expected to last 24 months.
OSWEGO, ILL. — Marcus & Millichap has arranged the $4.3 million sale of Meijer Outparcel Retail Center, an 18,651-square-foot retail property at 1500-1550 Douglas Road in Oswego. The center was built in 2007 and is fully occupied. Tenants include Buffalo Wild Wings, Men's Wearhouse and Sprint. John Abuja and Jason St. John of Marcus & Millichap represented the seller, a developer. They also secured the buyer, a private investor.
STROUDSBURG, PA. — Construction has started on The Crossings at Marshalls Creek, a 103,000-square-foot shopping center development in Stroudsburg. The plaza will be anchored by Price Chopper Grocery, Rite Aid, STS Tire and Auto Centers and Family Dollar. The center will also feature about 22,000 square feet of stores and restaurants. A grand opening is scheduled for June 2013. CBL Associates Properties Inc. announced plans to acquire the property in June. The project is located 10 miles from CBL's 420,000-square-foot Stroud Mall.
DALLAS — Houston-based AmREIT Inc. has taken a $14 million loan for its Uptown Plaza Dallas property, a 34,250-square-foot retail center located at 222 McKinney Ave. in Dallas. The property is fully leased to tenants including Morton's Steakhouse, Salon 2222, Aqua Medical Spa, The CupCakery, Wells Fargo, The Texas Rangers, Pei-Wei, Potbelly, Smashburger and Verizon Wireless. AmREIT's existing $10.4 million loan was refinanced with a 10-year loan with a 30-year amortization schedule. HFF arranged the loan through the Life Insurance Co. of the Southwest, an affiliate of Sentinel Investments.
THOUSAND OAKS, CALIF. – The Village Trader Market and Deli will open at The Village at Dos Vientos Ranch, a retail and office complex in Thousand Oaks, on Aug. 9. The 6,400 square-foot retailer will be the first grocery store in the Dos Vientos Ranch master-planned community. The complex is owned by Paradise Capital Group.