NORWOOD, MASS. — Gallery Automotive Group has signed a 12,000-square-foot retail lease at 147 Morgan Dr. in Norwood. Gallery Automotive is a new and pre-owned car dealership featuring BMW, Honda, Mazda and Volkswagon brands. The company will house its auto parts division at the new space. Elliott Ravech of Elliot & Co. represented the landlord, CMI Property Inc., in the transaction.
LAS VEGAS – A 6,232-square-foot building in Las Vegas that is occupied by Tire Workshas sold to an unnamed buyer for $2.1 million. It is located at 8532 Blue Diamond Road. Tire Works has 11 years remaining on its lease with three, five-year options to renew. Ray Germain and Tina D. Taylor of Marcus & Millichap’s Las Vegas office represented the seller, a limited liability company, in this transaction.
LEBANON, PA. — Marcus & Millichap has arranged the $5.9 million sale of a 13,225-square-foot CVS/pharmacy in Lebanon. The property, built in 2008, is located at 2200 West Cumberland St. CVS has 22 years remaining on its lease. Michael Shover and Matt Gorman of Marcus & Millichap represented the seller, a developer, in the transaction. They also represented the buyer, a private investor.
ORTING, WASH. – The Pioneer Village Shopping Center in Orting, a tertiary market about 40 miles south of Seattle, has received a $9-million loan. The 82,130-square-foot, Safeway-anchored center is 92 percent leased. The 20-year loan features a 20-year amortization period and an interest rate in the 4-percent range. It was provided by Mike Wood and Andrew Patterson of NBS Financial Services.
JACKSON, MISS. — The first Whole Foods Market in Mississippi has broken ground at Highland Village shopping center in Jackson. The 31,000-square-foot grocery store featuring natural and organic products will open in 2013. Chesnut Hill, Mass.-based WS Development is the project’s new joint venture partner. The development firm acquired a controlling interest in the 220,000-square-foot Highland Village last month.
NEWPORT NEWS, VA. — Ernest Kashouty Trust has sold the former Casey Auto and Collision Center at 975 J. Clyde Morris Blvd. in Newport News to VCT Enterprises LLC. The five-acre auto sales and collision center includes four buildings including the former BMW and Volkswagen showrooms and 275 parking spaces. Ned Brooks and Kevin Curran of CBRE/Hampton Roads represented Ernest Kashouty Trust in the transaction.
GREENWOOD, MO. — The renovation of the 80,255-square-foot Greenwood Shoppes at 806-914 U.S. 31 is nearing completion. Bianco Properties, which purchased the property last year, added a new roof, facade and LED lighting throughout the property. The center is located across from Greenwood Park Mall and tenants include Men's Wearhouse, Half Price Books, Casual Male and Party City. The Peterson Co. oversaw construction of the project. All businesses remained open during the renovation.
GOUVERNEUR, N.Y. — Consolidated Properties has acquired Gouverneur Center, a 71,644-square-foot neighborhood retail center at 471 East Main St. The property is anchored by Tractor Supply Co., Peebles and Family Dollar. The new owner plans to renovate the building exterior and grounds and re-tenant the property. Larry Socia of The Sutton Cos. represented the buyer in the transaction. Dominic Pavia of Pavia Real Estate services represented the seller, Gouverneur Center Development LLC.
KATY — World Market will open a new 15,400-square-foot store in the Grand Lakes Marketplace, located at 6625 S. Fry Road in Katy. Cost Plus World Market, the operator of World Market, has 263 stores in 30 states under the World Market and Cost Plus World Market trademarks.
ORTING, WASH. – The Pioneer Village Shopping Center in Orting, a tertiary market about 40 miles south of Seattle, has received a $9-million loan. The 82,130-square-foot, Safeway-anchored center is 92 percent leased. The 20-year loan features a 20-year amortization period and an interest rate in the 4-percent range. It was provided by Mike Wood and Andrew Patterson of NBS Financial Services.
