CORPUS CHRISTI — Wal-Mart Stores Inc. has awarded a contract to Satterfield & Pontikes Construction (S&P) to construct a $10.5 million, 139,000-square-foot Sam's Club store, located on South Padre Island Drive in Corpus Christi. Construction is under way and the project is slated for a spring 2013 completion. The construction includes the demolition of an existing Walmart store, asphalt paving and storm water requirements with erosion controls. Raymond Harris & Associates designed the facility. S&P has constructed more than 6 million square feet totaling more than $250 million on behalf of Wal-Mart Stores Inc.
VANCOUVER, WASH. – The Riverstone Marketplace, a 95,774-square-foot retail space in Vancouver, has received $20.15 million in financing. The 10-year CMBS loan was provided by a life insurance company. It features a fixed interest rate that is less than 5 percent for the entire term. Funding was arranged by Geoffery Arrobio of Johnson Capital’s Downtown Los Angeles office.
VICTORVILLE, CALIF. — Goodwill Industries of Southern California will open a 12,000-square-foot store at Hi-Desert Plaza in Victorville during the third quarter of 2012. Goodwill signed a 10-year lease for the space. The company was represented by Jon Friesen of Lee & Associates. The landlord, Victor Valley Plaza Co., LLC, was represented by Brad Umansky and Pablo Velasco of Progressive Real Estate Partners and Rob Kurth of Kursch Group.
JACKSONVILLE, FLA. — Cushman & Wakefield has finalized the $11.7 million sale of the 75,906-square-foot Reedy Branch Commons Shopping Center, located at 10920 Baymeadows Road in Jacksonville. A 44,270-square-foot Publix anchors the center, which features a high-quality roster of in-line tenants. The property is 96 percent leased. Karl Johnston of Cushman & Wakefield represented Blackrock, the seller, in the transaction. Publix Supermarkets was the buyer.
COCHRAN, GA. — Agree Realty has acquired a newly constructed store leased to Dollar General Market, which is located in Cochran. The company has also purchased the fee interest in the land underlying its Walgreens store in Ann Arbor, Mich. Dollar General Market has the full term of 15 years remaining on its lease. The total cost for both properties was approximately $6 million. Agree Realty currently operates a portfolio of 87 properties in 23 states.
MACHESNEY PARK, ILL. — A private investor from California has purchased a 6,124-square-foot Advance Auto Parts property, located at 1535 West Lane Road in Machesney Park, for $1.5 million. Advance Auto Parts is the sole occupant of the building, which was developed by Orput Cos. Inc. in 2011. Advance Auto has 14 years remaining on its lease. The Boulder Group represented Orput Cos. in the transaction, while SAR Enterprises represented the tenant.
NORTHFORD, CONN. — GFI Realty Services has arranged the $2.3 million sale of a freestanding Rite Aid property in Northford. The property, which also has drive-thru service, totals 10,445 square feet. Marc Alper of GFI Realty represented the seller in the transaction. Roni Abudi, also of GFI, represented the buyer.
MARBLE FALLS — The Weitzman Group has arranged the sale of the 7,852-square-foot Highland Quarry Shopping Center, located at 1304 N. Highway 281 in Marble Falls. The center features tenants such as Anytime Fitness, a tanning salon and a nail salon. Brad Bailey and Logan Reichle of The Weitzman Group represented the seller, an Austin-based investment group, in the transaction. The buyer was an Austin-based partnership.
POMONA, CALIF. — Jack In The Box corporate has signed a five-year lease extension for a free-standing, 2,612-square-foot restaurant in Pomona. The restaurant chain has occupied the site, which is located at 2098 S. Garey Ave., since 1994. Jack In The Box represented itself in this transaction, while the landlord, 6816 Lankershim Associates, L.P., was represented by Ash Joshi of Capital Realty Solutions.
MINN. — Nash Finch Co. plans to open two new Family Fresh Market stores in River Falls, Wis., and Farmington, Minn. The River Falls store is located at 303 S. Main St. and includes 41,300 square feet. The Farmington store is at 115 Elm St. and contains 22,700 square feet. The stores mark the third and fourth locations for the fresh-focused banner. The others are in Hudson and New Richmond, Wis.