NEW YORK CITY — The Texas-based Alamo Drafthouse theater chain is opening its first location in New York. Alamo Drafthouse will own and operate the five-screen theater, which will be located on the Upper West Side, occupying the former Metro Theater at 2626 Broadway. Like all Alamo Drafthouse theaters, the Alamo Drafthouse at the Metro will provide food and drink service to movie-goers' seats and uphold its famously strict no-talking policy. The new theater is scheduled to open in 2013.
COLLEGEVILLE, PA. — Trappe Strip Center, a 10,664-square-foot retail property in Collegeville, has sold for $1.6 million. The center is located at 430 W. Main St. and was fully occupied at the time of sale. Brad Nathanson of Marcus & Millichap's Philadelphia office represented the seller, a Norristown, Pa.-based private family. He also procured the buyer, a Reading, Pa.-based, privately held real estate company.
KATY — Houston-based Q10 Kinghorn, Driver, Hough & Co. (KDH) has secured $14 million in long-term senior debt permanent financing for a 167,000-square-foot, grocery-anchored center in Katy. The property is 99 percent leased and was built in 2004. Sam McHard of KDH's Houston office arranged the financing through Prudential Mortgage Capital Co.
FORT PIERCE, FLA. — H&H has sold the 53,000-square-foot Virginia Avenue Plaza, located at 800 Virginia Ave. in Fort Pierce, to Virginia Plaza Avenue LLC for $2 million. Nikolaus Schroth of Stuart, Fla.-based NAI Southcoast represented the seller in the transaction and Bryan Grunbaum, also of NAI Southcoast, represented the buyer.
PLOVER, WIS. — Staples has signed a retail lease for 15,500 square feet at Common Crossroads, located at 1230 Commons Circle Parcel 8 in Plover. Joe Kleiman and Daniel Cohen of Mid-America Real Estate's Milwaukee office represented the tenant in the deal. Kim Pischeke of CORE Commercial's Appleton, Wis. office represented the landlord, JJ Plover Max Venture II and Plover Shoppes LLC.
BOSTON — Linear Properties has acquired five retail condominiums at 346-354 Congress St. in Boston for $4.8 million. The condos are located within a seven-story property, known as FP3. The acquisition includes 15,711 square feet of space within the five retail condos on the first two floors of the building. Jonathan Dutch of Boston Urban Partners represented the seller, 346 Congress Street LLC, in the transaction. He also procured the buyer. The purchase price was undisclosed.
FORT WORTH — Marcus & Millichap has brokered the sale of a 4,701-square-foot retail building, a two-tenant property located on the southwest corner of Camp Bowie Boulevard and Hulen Street in Fort Worth. Vincent Knipp and Chance Hales of Marcus & Millichap's Fort Worth office represented the seller, a California-based private partnership, in the transaction. Knipp also procured the buyer, a local partnership.
OAK BROOK, ILL. — In a joint venture, Inland Real Estate Corp. and Inland Private Capital Corp. have acquired two portfolios of single-tenant retail properties for $40.8 million. The seven properties total 95,630 square feet. The four stores net-leased to Walgreens are located in Dunkirk, N.Y.; McPherson, Kan.; St. George, Utah; and Nampa, Idaho. The three properties net-leased to CVS are located in Lee's Summit, Mo.; McAllen, Texas; and Newport News, Va. The stores range in size from 12,900 to 14,490 square feet.
CARROLLTON — Pie Five Pizza Co., a subsidiary of Pizza Inn Holdings, has opened its sixth restaurant, located at 3400 E. Hebron Parkway in Carrollton. The property is more than 2,000 square feet and seats approximately 70 people.
RICHMOND, VA. — The 162,000-square-foot Brookhill Azalea Shopping Center, located at 5214 Chamberlayne Rd. in Richmond, has sold for $8.95 million. Food Lion and Family Dollar anchor the center, which is 70 percent leased. Alex Divaris of Divaris Real Estate's Virginia Beach, Va., office represented the seller, GE Capital, in the transaction. BSV Premier Brookhill, an investment partnership controlled by the principals of Broad Street and The Premier Companies, was the buyer. Financing for the acquisition was provided by Virginia Heritage Bank. The Premier Companies will manage the property and Divaris Real Estate will lease it.