PORT SAINT LUCIE, FLA. — A 14,736-square-foot Walgreens, located at 5505 NW St. James Dr. in Port Saint Lucie, has sold for $7.77 million. Stephen Heim of Fort Lauderdale, Fla.-based NAI Rauch Weaver Norfleet Kurtz & Co. represented St. James Capital, the buyer, in the transaction. Marcus & Millichap represented the seller, St. Andrews Park II.
Retail
MOUNT PROSPECT, ILL. — Cost Plus World Market will open a new store at 151 Euclid Ave. in Mount Prospect. The 18,300-square-foot store will be the specialty retailer's 13th location in Illinois. Located in the Randhurst Village Shopping Center, the store will carry home furniture and decor, fashion accessories, personal care products, gourmet food and wine. The store opens to the public March 29.
NEW HAVEN, IND. — Rent-A-Center, a chain of rent-to-own stores offering furniture, appliances and electronics, has signed a 4,300-square-foot retail lease in New Haven. The property is located in the Meadowbrook Shopping Center at 906 Lincoln Highway West. Stanley Phillips of NAI Harding Dahm represented the landlord, Fort Wayne New Haven Associates LP, in the transaction.
CARROLLTON — Net Realty Advisors has brokered the sale of the 14,336-square-foot Shops at Mercer Crossing, a shopping center located at Luna Road and Valley View Lane in Carrollton. The property was 40 percent leased at the time of the sale to tenants such as Subway, b.b. bop and All Dogs Unleashed. Gavin Kam and Brad Kam of Net Realty Advisors were the sole brokers in the transaction. The buyer is a West Coast-based investor and the seller is a local retail developer.
AUSTIN — Austin-based Woodland Property Group has arranged the sale of 2324 South Lamar, a retail property located in Austin. William Stringer of Austin-based Ausvest Commercial/Investment Real Estate represented the seller in the transaction. Blair Helgren of Woodland Property Group represented the buyer, an Austin-based real estate investment group.
FORT WORTH — Lane-Knight has plans to relocate its Camp Bowie Boulevard store to a 1,411-square-foot location on Crockett Street in West 7th, a 13-acre mixed-use development in Fort Worth. The boutique is slated to open in late summer 2012. Frank Bullock and Carey Shagets of SRS Real Estate Partners' Dallas/Fort Worth office, along with Roger Chieffalo of Fort Worth-based Chieffalo Realty, represented both the landlord and tenant in the lease negotiations.
CLEVELAND — Canton-based King Pin LLC has sold a Family Dollar Store in Cleveland for $1 million. Built in 2007, the 9,160-square-foot building is located at 3470 E. 93rd St. Family Dollar has about 4 years remaining on its lease. Dan Cooper of the Cleveland office of Cooper Commercial Investment Group represented the seller in the transaction. He also secured the buyer, a private group from California.
NEW YORK CITY — Pier 1 Imports is opening a new store in the Upper East Side. The home furnishings store signed a 17,5140-square-foot lease at 1110 Third Ave. The store will be Pier 1 Imports' second location in Manhattan. Jerry Welkis of Welco Realty represented the tenant in the transaction. Robert Futterman, Beth Rosen and Jackie Totolo of RKF represented the owner of the retail condominium, The Related Cos.
CORPUS CHRISTI — Cedar Falls, Iowa-based Lockard Cos. has joined Dolphin Ventures and EWB Development to develop Phase I of The Outlets at Corpus Christi Bay, a 281,526-square-foot retail development located at the Interstate 69 corridor at Highway 44 in Corpus Christi. Lockard will be active in developing and constructing the property and EWB will co-develop, market and lease the project. The Outlets is slated for a late 2013 opening.
AUSTIN — Dallas-based Brand Capital Partners has brokered the sale of a 44,000-square-foot land tract, located at the northwest corner of RR 620 and Wilson Park Avenue in Austin. The land is the site of a Whataburger ground lease. Jeff Brand and Ashley Bentler of Brand Capital represented the buyer, an Austin-based investor, in the transaction. Jason Middlebrook with SRS Real Estate Partners' Austin office represented the seller, 69 Grandview LP.