SALT LAKE CITY — Spirit Realty Capital has acquired six Sportsman’s Warehouse properties in a sale-leaseback transaction with the Salt Lake City-based retailer. The transaction was valued at more than $45 million. The stores are located in Midvale, Utah; Thornton and Loveland, Colo.; Phoenix and Mesa, Ariz.; and Ankeny, Iowa. They range in size from 43,725 square feet to 57,055 square feet. Sportsman’s will continue to operate the stores under a 15-year lease agreement. The retailer was represented by Bryce Blanchard of NAI West; Chris Hatch of Mountain West; and Jason Smith of Global Corporate Solutions. Other NAI Realty Network affiliates also participated in this transaction. Spirit Realty Capital was represented by Hope Sherman of NAI Ohio Equities.
CHICAGO — The Boulder Group has arranged the $1.6 million sale of a net-leased Dollar General property at 5701 Belmont Ave. in Chicago. The 9,500-square-foot property was renovated in 2011 and Dollar General has 10 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a high-net-worth individual from Chicago, in the transaction. The buyer was a private partnership.
NEW YORK CITY — Through foreclosure proceedings, Madison Realty has taken ownership of 364 Bay St., a stalled 55,000-square-foot retail center near the St. George waterfront. The firm plans to finish and lease the two-story retail project, which is slated for completion by the end of 2013. Madison purchased the defaulted first mortgage note and second mortgage note with an unpaid principal balance of $2.9 million from a local bank. The previous owner had acquired the land for $4.5 million and had spent an additional $2.5 million on improvements when construction was halted during the downturn. When Madison completes the project, the property will feature more than 40,000 square feet of retail space.
WEATHERFORD, OKLA. — Marcus & Millichap has arranged the sale of a 3,418-square-foot restaurant leased to McDonald's, located at 105 N. Washington St. in Weatherford. Approximately 11 years is remaining on McDonald's 20-year lease. Vincent Knipp and Chance Hales of Marcus & Millichap's Fort Worth office represented the seller, a private investor, and the buyer, a partnership, in the transaction.
XENIA, OHIO — Marcus & Millichap has arranged the $1.6 million sale of Chipotle Center, a 7,487-square-foot retail property at 1620 West Park Square in Xenia. The property is fully occupied by Chipotle, AT&T and Palm Beach Tan. Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a limited liability company, in the transaction. An out-of-state buyer acquired the property at an 8.4 percent cap rate.
ANN ARBOR, MICH. — The Big Salad, a specialty restaurant, has signed a lease for 1,934 square feet of retail space in Plymouth Road Plaza in Ann Arbor. The new location is at 2791 Plymouth Road. Adam Goodman and Tony Schmitt of Mid-America Real Estate-Michigan represented the tenant in the transaction.
WEATHERFORD — Marcus & Millichap has arranged the sale of the 16,185-square-foot Shoppes of Weatherford, a retail property located at 1914 Main St. in Weatherford. The property is fully leased to triple-net tenants. Philip Levy of Marcus & Millichap's Fort Worth office represented the seller, a limited liability company, in the transaction.
HICKORY, N.C. — Beachwood, Ohio-based Chase Properties Ltd., an owner and operator of community shopping centers, has acquired the 144,000-square-foot Valley Corners from Collett & Associates. The shopping center is located directly on Highway 70 in Hickory and is anchored by Michaels, Ross Dress For Less, Ashley Furniture and PETCO. Other tenants include Rack Room Shoes, Dressbarn, Cato, McDonald’s, Olive Garden and Chili’s. David Webb of Berkeley Capital Advisors brokered the transaction.
WAUKESHA, WIS. — Four retailers, T.J. Maxx, Ulta Salon and Cosmetics, Rue 21 and Charming Charlie's, will open new locations at the Shoppes at Fox River development in Waukesha by Oct. 28. Opus broke ground on the first development of Phase II of the Shoppes at Fox River in April. The development, which will house the new retailers, includes 47,000 square feet of retail space on six acres. The first phase of the shopping center opened in 2009 and is fully occupied. Tenants include a 132,000-square-foot Target and a 60,000-square-foot Pick 'n Save.
OVERLAND PARK, KAN. — Block & Co. has been selected as the leasing agent for the 1.1 million-square-foot Corbin Park retail center at the intersection of 135th Street and Metcalf Avenue in Overland Park. The center is anchored by Von Maur, JC Penney and Lifetime Fitness. Big box, junior box and small shop space is available for lease, as well as pad sites surrounding the center. David Block, Greg Roberts, Max Kosoglad and Phil Peck of Block & Co. make up the leasing team assigned to Corbin Park.