DALLAS — Dunhill Partners and RioCan, Canada's largest REIT, have purchased the 485,000-square-foot Timbercreek Crossing, a Class A shopping center located at 6185 Retail Rd. in Dallas, from owner and developer Trammell Crow Co. The center includes a two-story Walmart/Sam's Club, JC Penney, Whataburger, Chick-fil-A, Sears, Verizon Wireless, Bank of America and DelTaco. Dunhill Partners will manage the center. Chris Cozby, Chris Gerard and Brandon Ferguson of CBRE's Dallas office represented the seller in the transaction. Mike Bryant, Scott Lewis and Matt Ballard of CBRE's Dallas office arranged the acquisition financing on behalf of the buyers.
Retail
SPRING — The Woodlands-based BANDIER Realty Partners has brokered the sale of a 12,060-square-foot retail center, located at 3307 Spring Stuebner W. Rd. in Spring. The property was foreclosed on by Sterling in September. The center is 37 percent occupied and includes a 1.17-acre pad site for future development. Jason Tangen and Jody Czajkoski of BANDIER's Foreclosure Asset Services Team represented the seller, Metro Bank, NA, in the transaction. Mark Terpstra of Houston-based Caldwell Cos. represented the buyer.
HENDERSONVILLE, TENN. — Greenville, S.C.-based RealtyLink has sold a 10,000-square-foot ULTA, located at 1032 Glenbrook Way in Hendersonville, to a Northeast-based private institutional investor for $2.77 million. RealtyLink developed the building and was self-represented by Tyson Glasser. Rich Cohen of Richco Realty represented the buyer.
SARASOTA, FLA. — Westfield has started construction on a 147,000-square-foot Costco at Sarasota Square, located at 8201 S. Tamiami Tr. in Sarasota. An AMC Theatre, Macy's, Sears and JCPenney anchor the center. Completion is slated for the summer of 2012.
ST. CLAIRESVILLE, OHIO —Indianapolis-based appliance and electronics store hhgregg has opened a new store in St. Clairesville, Ohio. The 27,051-square-foot store was newly renovated and is located at 67661 Mall Rd. in St. Clairsville. The store previously housed a TJ Maxx and a Kroger grocery store.
PHILADELPHIA — Athleta, an apparel retailer catering to active women, has opened its first store in Philadelphia, located at 1722 Walnut St. Steven Gartner of Metro Commercial Real Estate represented Athleta in the 4,000-square-foot lease transaction. The landlord is Kaiserman Co. Inc.
RICHMOND, VA. — Calkain Cos. has brokered the $1.85 million sale of a 2,000-square-foot retail property, located in Richmond. The property is currently leased to KFC on a long-term basis. Rick Fernandez of Calkain Cos.' Reston, Va., office represented the undisclosed seller in the transaction. David Sobelman of Calkain's Tampa, Fla., office represented the buyer, a private investor, in a 1031 tax deffered exchange.
MARGATE, FLA. — SAVEOLOGY has signed an 85,000-square-foot lease to become an anchor tenant at the 182,000-square-foot SAVEOLOGY Plaza, located at 5235 Coconut Creek Pkwy. in Margate. Prior to the lease signing, the property was named Coco Center. Margate-based Coconut Creek Properties owns the center, which is currently 90 percent leased. No brokers were used in the lease transaction.
NEW YORK CITY — American Realty Capital New York Recovery REIT has closed on its $22.5 million acquisition of a fee-simple interest in a portfolio of 10 retail condominiums located at 122 Greenwich Ave. in Manhattan. The One Jackson Square portfolio consists of 8,392 square feet, including four rental units. Three of the four rental units are leased to two tenants — a Starbucks coffeehouse and a TD Bank branch.
AYER, MASS. — Verizon Communications has renewed its long-term lease for 17,430 square feet at 5 Sandy Pond Rd. in Ayer. Amy Perlman of CB Richard Ellis represented the tenant in the transaction. Richard McKinnon of the Quincy, Ill. office of Grossman Co. Inc. represented the landlord, 5 Sandy Pond Rd. Ayer LLC.