HILLSBORO, OHIO — HealthSource of Ohio recently purchased a 14,009-square-foot portion of Hillsboro Plaza, a 58,127-square-foot retail center at 1088-1100 N. High St. in Hillsboro, for $1.4 million. Buckeye State Investors initially purchased the distressed center in 2005 and began a comprehensive renovation of the half-empty property. Brent Sears of NAI Bergman served as the general contractor and leasing broker for the project. The renovated property is fully leased to tenants such as Peebles Department Store and #1 China Buffet. The balance of Hillsboro Plaza is currently being offered for sale for $3.5 million.
DALLAS — A partnership between Mitra QSR and Chalak Growth Capital Fund has closed on its purchase of 120 franchise restaurants in the Northeast. The sale included 78 Kentucky Fried Chicken units, 39 KFC/Taco Bell co-branded units and three KFC/Long John Silver's co-branded units. The properties are located in Virginia, Maryland, Delaware, Pennsylvania, West Virginia and New Jersey. The seller is Yum Brands Inc. Mitra and Chalak have also partnered on a deal for 33 additional KFC/Taco Bell units in Texas, Oklahoma, Kansas, Missouri and Illinois. After the transaction closes, Mitra will be one of the largest KFC franchisees, the company said in a statement.
UNION, N.J. — Marcus & Millichap has arranged the $5.5 million sale of 2317 Route 22, a 16,235-square-foot retail property in Union. Four of the six retail units are occupied by GameStop, Quiznos, Radio Shack and Foot Locker. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap represented the seller, a private investor. They also secured the buyer, a local developer.
NORTH ATTLEBORO, MASS. and MANCHESTER, CONN. — The Lightstone Group has completed the refinancing of three of its retail centers, totaling 270,000 square feet, in North Attleboro and Manchester. The Bank of the Ozarks provided a three-year, $23 million loan. The properties include Christmas Tree Shops Plaza and Cumberland Avenue Plaza in North Attleboro and Hale Road in Manchester. The properties are more than 94 percent occupied and tenants include Bed Bath & Beyond, Guitar Center and David's Bridal. Lightstone acquired the assets in October 2000.
HOUSTON — Hunington Properties has arranged the sale of the 10,484-square-foot Crossroads Retail Center, located near the intersection of Highway 290 and FM 1960 in Houston. The property is fully leased to mostly national tenants. Todd Carlson and Larry Riklin of Hunington Properties represented the buyer, a local nonprofit organization, in the transaction. The buyer plans to assume management and leasing duties for the property.
COEUR D’ALENE, IDAHO – The Silver Lake Mall in Coeur d’Alene has gained two new tenants. Sports Authority signed on for 44,000 square feet, while Jo-Ann Fabric and Craft Stores will occupy 19,000 square feet. Silver Lake is owned and operated by Rouse Properties.
HOPE MILLS, N.C. — Traemoor Village, a 76,325-square-foot shopping center, has opened in the Stoney Point community of Hope Mills. A 53,365-square-foot Harris Teeter grocery store anchors the retail property. McDonald’s will break ground in approximately one month on an outparcel. Other tenants include Mellow Mango, Viva the Bean, High Cotton Consignments, Naturally Unleashed, Great Clips and Hallmark Cards. Greenville, S.C.-based Fox Commercial Properties developed Traemoor Village.
ORLAND PARK, ILL. — Whole Foods Market has opened a 27,370-square-foot location at Ravinia Plaza in Orland Park. The natural and organic food retailer signed a lease in early 2012 to occupy space formerly leased to Borders. The 101,384-square-foot Ravinia Plaza is located at 15150-15260 La Grange Road, and additional tenants include Panera Bread and Pier 1 Imports. Inland Real Estate Corp. owns the property.
TROY, MICH. — First American Exchange Co. has acquired Golden Gate Plaza, a 100,000-square-foot retail center in Troy. The facility is located at 2883-2891 Big Beaver Road. Bruce Morrison, Viktor Gjonaj and Jeffrey Trepeck of Signature Associates represented the seller, Reed Holdings Troy LLC. Morrison also represented the buyer.
NORWOOD, MASS. — CarMax has acquired a $20 million development site at 212 Carnegie Row in Norwood to construct a new superstore. CarMax, a used-car dealership with more than 100 locations nationwide, plans to raze an existing 125,000-square-foot facility and build a new CarMax Auto Superstore on the site's 10 acres. Another 15 acres of wetlands will be preserved as open space. Elliot Ravech of Elliot & Co. represented the seller, CMI Property/Irene Realty Trust, in the transaction. Rob Grady of the Dartmouth Co. represented the buyer.