SAN DIEGO – The Torrey Corner Shopping Center has sold to 3 Tier Investments, LLC, for $6.1 million. Located in the San Diego submarket of Carmel Valley, the 13,344-square-foot Torrey Corner is anchored by Bank of America, Prudential Real Estate and Massage Envy, among others. Cassidy Turley’s Andrew Peterson, Bruce Schiff, Phil Lyons and Chad Iafrate represented the seller, Sorrento Hills Marketplace 2, LLC, in the transaction. The buyer represented itself.
MADISON, MISS. — CBL & Associates Properties has started construction on the 83,000-square-foot Phase II of The Forum at Grandview, located on Interstate 55 in Madison. Anchors of Phase II include ULTA, Homegoods, Petco and a national arts and crafts retailer along with 14,000 square feet of specialty stores. Completion is slated for summer 2012.
RICHMOND, VA. — The 19,276-square-foot Downtown Capital Ale House buildings, located at 619 and 623 E. Main St. in Richmond, have been purchased by Fezzer Holdings for $1.53 million. Bruce Bigger and Lee Warfield of Cushman & Wakefield/Thalhimer's Richmond office represented the seller, Super Duper Properties, in the transaction.
MONROE, MICH. — Phoenix-based Cole Real Estate Investments has acquired the 141,935-square-foot Telegraph Plaza Portfolio, a three-property portfolio located in Monroe, for $12.9 million. Ashish Vakhariya of Marcus & Millichap's Detroit office represented the seller, a national developer, and worked with Scott Holmes of Cole in closing the transaction.
AVON, OHIO — Luttner Real Estate Investments Services has arranged the $1.07 million sale of an Arby's ground lease in Avon. The property has 17.5 years remaining on the initial 20-year lease. Mark Luttner of Luttner's Chicago office represented the seller, The Richard E. Jacobs Group, and procured the buyer, a California-based private 1031 investor.
BEDFORD PARK, ILL. — Taphandles has signed a lease for a 52,344-square-foot industrial building, located at 742- S. Meade Ave. in Bedford Park. Brian Vanosky of Lee & Associates' Chicago office represented the landlord, Cobalt Capital Partners, and Mike Mangan of CB Richard Ellis' Chicago office represented the tenant in the transaction.
ATTLEBORO, MASS. — Boston-based EagleBridge Capital has arranged $2 million in acquisition/permanent mortgage financing for a free-standing building leased to Goodwill Industries in Attleboro. EagleBridge’s Brian Sheehan and Ted Sidel arranged the loan for the 15,950-square-foot facility at 115 Washington St.
GARLAND — Firewheel Market, a specialty retail center at the front of Firewheel Town Center mall in Garland, has added eight new tenants. Steve Gray and Grant Gold of The Weitzman Group handled negotiations for the landlord. The new tenants include: Firewheel Salons — 7,772 square feet Massage Envy — 3,524 square feet AAA Texas — 3,424 square feet (Weitzman’s Earl Harris represented AAA Texas) Dallas Metroplex Endodontics — 1,912 square feet Batteries Plus — 1,577 square feet Granny’s Playhouse — 1,482 square feet Merle Norman — 1,324 square feet (Weitzman’s Christopher Young represented Merle Norman) Al’s Formal Wear — 1,250 square feet (Weitzman’s Gold represented Al’s Formal Wear)
SALISBURY, MD., & WINCHESTER, VA. — H&R Retail has arranged two leases on behalf of Hobby Lobby: a 56,800-square-foot lease at North Point Plaza in Salisbury and a 55,793-square-foot lease at South Pleasant Valley Road in Winchester. David Ward and Ben Hoskins with H&R Retail's Baltimore office represented Hobby Lobby in both lease transactions. Jim Crilley of the firm's Bethesda, Md., office represented the landlord in the Salisbury transaction.
OCALA, FLA. — The Shopping Center Group has arranged two new leases for Bealls Outlet and Ross Dress for Less at the 222,000-square-foot Six Gun Plaza, located in East Ocala along Silver Springs Boulevard. Bealls Outlet signed a 7-year lease for 35,500 square feet and is expected to open this fall. Ross Dress for Less signed a 10-year lease for 32,000 square feet and is expected to open in 2012. Kevin Hipes of The Shopping Center Group's Orlando, Fla., office represented SouthEast Properties, the owner, in the lease transactions. John Dottore and Marc Sullivan of the same office represented Ross Dress For Less. Bealls was self-represented.