PITTSBURGH — Marcus & Millichap has facilitated the $2.85 million sale of a 5,104-square-foot IHOP, located at 4656 Browns Hill Rd. in Pittsburgh. Jamie Medress and Mark Ruble of Marcus & Millichap's Phoenix office represented the seller, a partnership. John Brigel of Marcus & Millichap's Tampa, Fla., office represented the buyer, a limited liability company.
DALLAS — UCR Commercial Realty has arranged the sale of the 205,812-square-foot Caruth Plaza, a specialty retail center located at the corner of U.S. Highway 75 and Park Lane in Dallas. Caruth Plaza is 96 percent leased to tenants such as Bed Bath & Beyond, Sports Authority, TJ Maxx and AT&T. David Disney and Adam Howells of UCR's Dallas office represented the seller, Dunhill Partners, in the transaction. The buyer was an affiliate of North American Development Group.
HOUSTON — American Realty Capital Trust has acquired two Advance Auto Part Stores in Houston for $3.1 million. The two properties are fully leased to Advance Stores Co. and total 13,471 square feet.
SAN RAMON, CALIF. — The 63,265-square-foot Diablo Plaza in San Ramon has received two new tenants. Beverages &more! (BevMo!) has leased 12,015square feet of space at the center and plans to open in fall. BevMo! was represented by Matt Alexander of SRS Real Estate Partners. Additionally, West Coast Gold Buyers has leased 1,300 square feet of space at Diablo Plaza that is now open. The jewelry specialist was represented by Richard Odenheimer with MRE Commercial Real Estate. Regency Centers, Diablo’s owner, was represented in-house by Ranfie Ancelovici and Gwen White with Cornish & Carey.
GROVELAND, FLA. — Marcus & Millichap has arranged the $9.1 million sale of the 65,751-square-foot Eagle Ridge Shoppes, located at 7975 State Road 50 in Groveland. Sonny Molloy of Marcus & Millichap's Atlanta office represented Groveland Associates, the seller, in the transaction and Kirk Olson and Drew Kristol of the firm's Miami office represented the buyer, a Miami-based private equity group. Publix anchors the center, which is approximately 80 percent leased.
HOUMA, LA. — Jones Lang LaSalle has negotiated the $8.5 million sale of the 98,586-square-foot Houma Power Center, located at 1550 Martin Luther King Blvd. in Houma. Old Navy, Michaels and Burke's anchor the center, which is fully leased. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle's Atlanta office represented Kimco Realty Corp., the seller, in the transaction. The buyer was New Orleans-based Property Management Group.
CHESAPEAKE, VA. — Cushman & Wakefield — Thalhimer has brokered the $1.12 million sale of a 9,000-square-foot retail property, located at 4124 Chesapeake Square Blvd. in Chesapeake, which was formerly Paradocks Restaurant. Andy Stein of Cushman & Wakefield — Thalhimer's Virginia Beach, Va., office represented Bank of the Commonwealth, the seller, in the transaction, and Troy Parker of the same off represented the buyer, T2 Chesapeake Square, who is redeveloping the property for retail use.
ROYAL OAK, MICH. — Marcus & Millichap has arranged the $12.3 million sale of a 45,000-square-foot LA Fitness, located at 25352 Woodward Ave. in Royal Oak. Mark Thiel of Marcus & Millichap's San Diego office represented the buyer, a Southern California-based private family trust. LA Fitness' triple-net lease extends through September 2030.
YONKERS, N.Y. — New York City-based Time Equities has purchased the 10,000-square-foot 180 McLean Avenue, a retail property in Yonkers (currently leased to Duane Reade) for $3.45 million. Time Equities was self-represented by Amy Ziff, and Gelcor Real Estate and CB Richard Ellis represented the undisclosed seller.
KENT, WASH. – The 28,512-square-foot Old Orchard Shopping Center has sold to a limited liability company for $5.4 million. The center is anchored by Value Village, O’Reilly Auto Parts and Washington Federal Savings Bank. The property was marketed exclusively by Dino A. Christophilis, an investment specialist in Marcus & Millichap’s Seattle office on behalf of the seller, which was also a limited liability company. Christophilis represented the buyer, as well.
