FRANKLIN, TENN. — Beauty Basics has acquired a 16,900-square-foot former car dealership, located adjacent to Cools Springs Galleria in Franklin, for $2.2 million. The buyer plans to utilize the property as a cosmetology school. Brian Forrester of The Shopping Center Group represented the seller, Nashville, Tenn.-based Richland South, in the transaction. Lynn Barrington of Christian Commercial represented the seller.
CHICAGO RIDGE, ILL. — Chicago Ridge Mall is set to debut its newly renovated AMC Lowes 6 Theater Aug. 9 and has announced several new tenants that will join the 833,000-square-foot shopping center in Chicago Ridge. Upgrades to the theater include a new lobby, ticket kiosks, concession area and new leather seats. CBL & Associates, which owns and manages the property, has also signed four new tenants to the shopping center: Crazy 8, Old Navy, Kids Foot Locker and Wetzel's Pretzels.
NEW YORK CITY — Savanna has acquired 14,000 square feet of retail space in the luxury apartment building known as 40 Mercer Street in New York City for $57 million. The building was designed by renowned architect Jean Nouvel and is located at 465 Broadway in the SoHo Historic District. The sale consists of 9,400 square feet of at-grade retail space and 4,700 square feet of below-grade space. The steet-level space is fully leased to Bose, Wells Fargo, Dermalogica and Vivienne Tam. Woody Heller, Will Silverman and Eric Negrin of Studley represented the seller, GLL Real Estate Partners, in the transaction. They also represented Savanna.
EAST HARTFORD, CONN. — Acorn II has purchased a retail property in East Hartford for $5.9 million. The single-tenant property is leased to Rite Aid Corp. Steven Calcagni and Lisa Whitney of Calcagni Associates Real Estate represented the buyer in the transaction. The seller is RA East Hartford.
RICHMOND — Westwood Financial Corp. has purchased the 123,000-square-foot Waterside Marketplace, a Kroger-anchored retail center located at 8011 Grand Parkway in Richmond. The center is 93.8 percent leased to tenants such as Wells Fargo Bank, Great Clips, State Farm, H&R Block, Kumon Learning and II Primo Wings. George Cushing of Jones Lang LaSalle represented the seller, Regency Centers, in the transaction.
LAS VEGAS — M&L Self Storage, a 91,760-square-foot self-storage facility in Las Vegas, has sold to a REIT for $2.1 million. The facility was built in 1986 at 1675 North Lamb Blvd. It is currently 46 percent occupied. Cameron Glinton of Marcus & Millichap’s Las Vegas office represented both the buyer and the seller, a developer, in this transaction.
ROCK HILL, S.C. — Childress Klein has sold the 59,020-square-foot Riverview Commons, a shopping center located at the corner of Celanese and Mount Gallant Roads in Rock Hill, for $9 million. Food Lion and Dollar General anchor the center, which is 93 percent leased. David Webb and Rebecca Levell of Berkeley Capital Advisors represented the seller in the transaction. The buyer was an affiliate of Benbrooke.
GLEN BURNIE, MD. — Walker & Dunlop has arranged $16.25 million in financing for the 212,345-square-foot Chesapeake Square Shopping Center, located in Glen Burnie. ShopRite and Best Buy anchor the center, which is 90 percent leased. Additional tenants include Advance Auto Parts, Subway and Five Below. J. Tyler Blue and Paul Wallace of Walker & Dunlop secured the 10-year loan with a 30-year amortization schedule.
OAKLAND, CALIF. — An O’Reilly Auto Parts property in Oakland has sold to a private investor from San Jose for $2.25 million. The 8,000-square-foot, single-tenant space is located at 3232 Foothill Blvd. Jeremy S. McChesney of Hanley Investment Group Real Estate Advisors represented the seller, Equitas Oakland, in this transaction.
PALM BAY, FLA. — A 16,000-square-foot CVS/pharmacy, located at the intersection of Palm Bay Drive and Babcock Road in Palm Bay, has sold for $5.59 million. CVS recently extended its triple-net lease. Dan Cooper of The Cooper Commercial Investment Group represented the seller, a Texas-based private group, in the transaction. The buyer was an Illinois-based private group in a 1031-exchange.