PORTLAND, IND. — Portland Development has purchased a 14,770-square-foot retail shopping center in Portland. The center is located at 1061 W. Votaw St. Stan Phillips of NAI Harding Dahm represented the seller, Rosefield Properties, in the transaction. Phillips also represented the buyer.
DALLAS — LA Fitness has signed a long-term lease agreement to build a 45,000-square-foot facility in the Old Town Shopping Center, located at the northeast corner of Lovers Land and Greenville Avenue in Dallas, on the site of a former Borders Books & Music store. Construction has commenced for the new facility. John Zikos, Jonathan Cooper and Chris Booras of Venture Commercial, along with Walt Brown Jr. and Tim Dollander of Diversified Partners, represented LA Fitness in the lease transaction. Elizabeth Allen and Michelle Caplan of The Weitzman Group represented the landlord.
HOUSTON — NewQuest Properties has arranged the sale of 37,135 square feet of land, located at Imperial Drive and Bammel Road in Houston, for a future Dollar General store. Vaughan Ford of NewQuest represented the buyer, Houston DG Ltd., in the transaction. Jeff Scarborough of Scarborough Real Estate represented the seller.
SILVER SPRING, MD. — A 65,000-square-foot ShopRite, located on Cherry Hill Road in Silver Spring, has sold for $13.7 million. The grocery store shares co-tenancy with Target, Kohl's, Babies “R” Us and Staples. Bill Kent, Chris Bosworth, Gary Lawrence and Will Pike of CBRE Group represented the seller, Acadia-MCB Holding Co., a joint venture between MCB Real Estate and Acadia Realty Trust, in the transaction. The buyer was an entity advised by Mark Holdings.
CHARLOTTE, N.C. — Kimco Realty Trust has acquired a four-property portfolio that includes four shopping centers in the Carolinas from EDENS. The properties include the 51,691-square-foot Forest Park in Greenville, S.C.; the 88,955-square-foot Davidson Commons in Davidson; the 73,230-square-foot Mountain Island Marketplace in Charlotte; and the 153,820-square-foot Overlook Village in Asheville, N.C. Berkeley Capital Advisors represented the seller in the transaction.
WEST PALM BEACH, FLA. — Marcus & Millichap has negotiated the $1.93 million sale of a 6,800-square-foot Sweet Tomatoes ground lease, located at 1900 Palm Beach Lakes Blvd. in West Palm Beach. The restaurant has 13 years remaining on the ground lease, with provided rental increases every five years. Matthew Gorman and Michael Shover of Marcus & Millichap's Philadelphia office, along with Robert Granada of the firm's Fort Lauderdale, Fla., office, represented the seller, a New Jersey-based limited liability company, in the transaction. Gorman, Shover, Granada and Douglas Mandel, also of the firm's Fort Lauderdale office, represented the buyer, a South Florida-based limited liability company.
OMAHA, NEB. — Northern Tool + Equipment has signed a lease for 15,142 square feet of retail space at 7202 Pacific St. in Omaha. Clay Mote of Venture Commercial represented Northern Tool in the transaction. The landlord, MarVon LLC, was self-represented.
OAK BROOK, ILL. — Inland Real Estate Acquisitions has acquired a portfolio of nine Walgreens stores in the Northeast for $68.7 million. The purchase includes three stores in New Jersey, two in Connecticut, two in Massachusetts and two in New Hampshire. Each property is leased to a subsidiary of Walgreens Co. under a triple net lease, with a remaining lease term of more than 20 years.
HELOTES — Satterfield & Pontikes Construction (S&P) has commenced construction on a 159,000-square-foot, $9.9 million Walmart, located on an 18-acre site at the intersection of Leslie and Bandera roads in Helotes, near San Antonio. Scott & Goble are providing design and architectural services for the store, which will include a brown limestone exterior and metal roof canopies. The store is slated to open early next year.
ORANGE CITY, FLA. — Inland Real Estate has purchased the 119,590-square-foot Saxon Crossings Shopping Center, located at 2607 Enterprise Road in Orange City, for $20.7 million. LA Fitness and Hobby Lobby anchor the center, and additional tenants include Jimmy John's, Papa John's Pizza, Woody's BBQ and Mattress One. Cliff Taylor of CBRE Group's Jacksonville, Fla., office, along with Daniel Baker of the firm's Orlando, Fla., office, represented Saxon Crossing Partners, the seller, in the transaction.