OAKLAND PARK, FLA. — A 110,989-square-foot Kmart, located on E. Oakland Park Blvd. in Oakland Park, has sold for $11 million. Douglas Mandel and Alan West of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, a local property owner, in the transaction. Kmart has less than 5 years remaining on its lease.
SAN MATEO, CALIF. — Guitar Center is opening a new 14,526-square-foot location at the Hillsdale Shopping Center in San Mateo this summer. Nordstrom, Macy's and Sears also reside at the shopping center, which is owned by Bohannon Development Company. Guitar Center was represented by Patrick McGaughey and James Chung of Terranomics Retail Services.
ROCK HILL, S.C. — Morgan Property Group has plans to build a 14,550-square-foot Walgreens, located at the intersection of Heckle and Herlong boulevards in Rock Hill. The company acquired the 1.9-acre parcel of land from First Place Bank and H. Allen Tate Jr. for $1.6 million. This is third Walgreens the company has developed in the Carolinas.
PALMYRA, IND. — Marcus & Millichap has arranged the $1.5 million sale of Dollar General, a 12,480-square-foot, net-leased property in Palmyra, located near the border of Indiana and Kentucky. Nathan Whalen of Marcus & Millichap represented the seller, a developer in the transaction. Brent Silcox, also of Marcus & Millichap, represented the buyer, a partnership.
TURLOCK, CALIF. — Old Navy will open a new 15,000-square-foot store in the Monte Vista Crossings shopping center in Turlock this fall. The power center is also home to Target, Lowe’s, Kohl’s, Home Depot and Safeway. It is owned by Hall Equities Group. Drew Greenspan and Staci Eisler Cole with Terranomics Retail Services represented Old Navy in this lease transaction.
SPRING — Fuddruckers has opened a 3,700-square-foot restaurant, located at 7724 Louetta Road in Spring. Fuddruckers now has 54 stores in Texas. Luby's Inc. is operating the new restaurant, which will feature a produce bar and the Coca-Cola Freestyle system.
MIAMI — Marcus & Millichap has arranged the $8.5 million sale of the 12,271-square-foot Shoppes of Pinecrest, a strip center located on S. Dixie Highway in Miami. Tenants include Starbucks, Cold Stone Creamery, T-Mobile, GameStop and FedEx. Douglas Mandel, Kirk Olson and Drew Kristol of Marcus & Millichap represented Adler Dixie, the seller, in the transaction.
LITTLE ROCK, ARK. — Rowan Development has sold a 10,000-square-foot retail building, located at 12206 W. Markham St. in Little Rock, to Crain Investments for $2.4 million. Stuart Mackey of Coldwell Banker Commercial Hathaway Group represented the seller in the transaction. Jeffrey Hathaway, also of Coldwell Banker Commercial Hathaway Group, represented the buyer.
WATERTOWN, S.D. — Chicago-based Eidco Construction has started work on two build-out projects at The Watertown Mall, located at 1300 9th Ave. SE in Watertown. The company is renovating a 4,016-square-foot Famous Footwear and a 4,885-square-foot rue21 on behalf of Lexington Realty International. Larry Vivoda of Eidco will oversee the projects, which are expected to be complete by July 1.
DRIPPING SPRINGS — Marcus & Millichap has arranged the sale of the 11,344-square-foot Prosperity Bank building, located at 721 W. Highway 290 in Dripping Springs. Greg Gaynor of Marcus & Millichap's Austin office and Ron Hebert of the firm's Dallas office represented the seller, a REIT, in the transaction.