SAN DIEGO – A multi-tenant strip center that is located in the Torrey Highlands master-planned community in a San Diego submarket has sold to Paragon Acquisitions, LLC for $5,254,000. Paragon represented itself in the transaction, while the seller, Torrey Highlands Plaza, LLC, was represented by Paul Lafrenz, Paul Komadina, Reg Kobzi and Joel Wilson of the CBRE Private Capital Group.
STREETSBORO, OHIO — Wendy's Co. will open a new restaurant at 4931 N. Oak Traffic Way in the North Oak Village Shopping Center in Kansas City, Mo. Located at the intersection of North Oak and Vivion roads, the 3,000-square-foot restaurant will open to the public Oct. 15.
HOOVER, ALA. — Tameron Automotive Group has acquired a 40,242-square-foot retail site, located at 1591 Montgomery Hwy. in Hoover, from Frank Schilleci for $1.5 million. A 7,988-square-foot former Long Horn Steak House sits on the site. Tameron, which owns and operates a Hyundai dealership adjacent to property, will use the land for a $4 million expansion and development of a new prototype dealership. An additional expansion is planned in 2013. Finch Properties represented the seller in the transaction and J. Claude Tindle of Birmingham, Ala.-based Longleaf Realty Partners represented the buyer.
CLEVELAND– Cleveland-based Luttner Real Estate Investment Services has arranged the sale of two freestanding Sherwin-Williams stores, located in the Midwest, for approximately $1.5 million and $1.4 million. Mark Luttner of Luttner Real Estate Investment Services represented the seller, WXZ Development Group. Luttner also procured the buyer, a private investment group.
QUEENS, N.Y. — A 9,767-square-foot retail property, located at 163-30 Cross Bay Blvd. in Queens, has been sold for $14 million. American Realty Capital New York Recovery REIT purchased the property, which is fully leased to Duane Reade.
IRVING — Dallas-based Bradford Commercial Real Estate Services has brokered the sale of a 8,348-square-foot retail property, formerly a Pancho's Mexican Buffet restaurant, located at 8312 Camp Bowie W. in Irving, to a Houston-based investor. Brian Scott and Karen Simon of Bradford Commercial represented Rockbay Properties II Ltd., parent of the Pancho's location, in the transaction.
ORLANDO, FLA. — Marcus & Millichap has brokered the $5.25 million sale of a 13,013-square-foot CVS/pharmacy, located at 7300 Curry Ford Rd. in Orlando. Mark Thompson of the Marcus & Millichap's Orlando office represented the seller, a limited liability company, and Gabriel Britti of the firm's Miami office represented the buyer, a private investor.
BOSTON — General Growth Properties has sold the Faneuil Hall Marketplace, located at 4 S. Market Building, Fifth Floor in Boston, for $140 million. The 208,000-square-foot retail development includes 104 staple restaurants, shops, exhibits and cafes.
SHAWNEE, OKLA. AND LAKE JACKSON — Northbrook, Ill.-based StreetMac Asset Managers has acquired the Brazos Mall in Lake Jackson and the Shawnee Mall in Shawnee, Okla., hrough a joint venture with Stamford, Conn.-based Five Mile Capital Partners. Brazos Mall spans 682,831 square feet and houses Dillard's, JC Penney, Sears, Starplex Cinema, Ross, Palais Royal and Powerhouse Gym. Shawnee Mall spans 453,861 square feet and includes Dillard's, JC Penney, Kohl's and Sears. The seller was Lightstone Properties. Chicago-based Urban Retail Properties will serve as property manager and leasing agent for both malls.
GARLAND — Evercare Pharmacy, an affiliate of Health Mart, has opened a 1,050-square-foot location at Village Plaza, located at the corner of West Walnut Street and North Jupiter Road in Garland. Brixmor Property Group owns Village Plaza.