FORT COLLINS, COLO. — Foothills Mall, a 753,000-square-foot, enclosed super regional mall in Fort Collins, has sold to a joint venture formed by affiliates of Walton Street Capital and Alberta Development Partners. The purchase price was not disclosed. The mall, which is anchored by Macy’s and Sears, will undergo a major revitalization.
PENSACOLA AND ORLANDO, FLA. — IRA Capital has purchased two Florida shopping centers totaling 63,000 square feet for $9 million. The 49,800-square-foot Fairfield Crossings in Pensacola is fully leased to Ross Dress for Less, Office Depot and T-Mobile. Alvin Mansour with Marcus & Millichap represented the seller in the transaction, and AZUR Realty Partners, an affiliate of IRA, represented the buyer. In Orlando, the company acquired a 10,500-square-foot center that is fully leased to Verizon Wireless and Mattress Firm. Jeff Winokur of JH Winokur represented the seller in the transaction. AZUR Realty Partners represented the buyer.
MUSKEGON, MICH. — Quantum Real Estate Advisors has arranged the $1.1 million sale of a 6,500-square-foot O'Reilly's Auto Parts, located at 3082 N. Henry St. in Muskegon. The building is a former Blockbuster store that was retrofitted for O'Reilly's in 2011. The auto parts retailer has 14 years remaining on its lease. Jordan Kaufman of Quantum Real Estate Advisors represented the seller in transaction. The buyer is a private individual from Texas.
SAN ANTONIO — Henry S. Miller Brokerage has arranged the sale of a 45,000-square-foot retail property, located at 8202 Sand Pebble Drive in northwest San Antonio. The property was once a 84 Lumber Store. The buyer, Dallas-based Entech Sales and Service, will use the property as its San Antonio office, which will open in the fall. Dan Spika of Henry S. Miller's Dallas/Fort Worth office represented the buyer in the transaction.
SANTA MARGARITA, CALIF. – An 8,309-square-foot retail building in the Orange County submarket of Santa Margarita has sold to Fadco Enterprises for $2.6 million. It is located at 28672 Deerpath Road. Kevin Quick of Lee & Associates’ Newport Beach office represented Fadco. The seller, the Noel S. Schurrman Trust, was represented by Colliers International.
ORANGE CITY, FLA. — Inland Real Estate Acquisitions has purchased the 119,894-square-foot Saxon Crossing, a shopping center located in Orange City, for $20.73 million. Hobby Lobby anchors the center, which is fully leased to tenants including LA Fitness, Papa John's and Jimmy John's. The buyer was self-represented by Lou Quilici.
OVERLAND PARK, KAN. — REI, a national outdoor retailer, will open its first store in the state of Kansas in the fall of 2013. The 23,500-square-foot store will be located at the intersection of West 135th Street and Lamar Avenue in Overland Park. The store will sell gear and apparel for camping, climbing, cycling and paddling, among other activities. The store will also feature a bike shop with assembly and repair services and a seasonal gear rental department. REI plans to hire 50 to 60 new employees for the store. The company operates 123 retail stores in 30 states.
DEVON, PA. — Kimco Realty Corp. has purchased Devon Village, an 89,000-square-foot shopping center in Devon, in Philadelphia's western suburbs. The seller was WP Realty. The center is anchored by a newly expanded and renovated Whole Foods. WP Realty purchased Devon Village in 2009 and expanded the center by 20,000 square feet.
CYPRESS — Arch-Con Construction has finished the construction of a Michaels, Charming Charlie and James Avery at Cypress Towne Center, located at Spring Cypress Road and Highway 290 in Cypress. The 22,000-square-foot Michaels is slated to open on Friday, the 8,000-square-foot Charming Charlie is scheduled to open in August and the 2,500-square-foot James Avery is slated to open later this month. Kimco Realty Corp. is the developer of the retail tract and The Thompson Nelson Group designed the properties.
HOUSTON — Marcus & Millichap has arranged the $4.2 million sale of the 54,557-square-foot Bellaire Village Shopping Center, located at 13602 Bellaire Blvd. in Houston's New Chinatown submarket. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, a financial institution, in the sale of the foreclosed property.