COCHRAN, GA. — Agree Realty has acquired a newly constructed store leased to Dollar General Market, which is located in Cochran. The company has also purchased the fee interest in the land underlying its Walgreens store in Ann Arbor, Mich. Dollar General Market has the full term of 15 years remaining on its lease. The total cost for both properties was approximately $6 million. Agree Realty currently operates a portfolio of 87 properties in 23 states.
MACHESNEY PARK, ILL. — A private investor from California has purchased a 6,124-square-foot Advance Auto Parts property, located at 1535 West Lane Road in Machesney Park, for $1.5 million. Advance Auto Parts is the sole occupant of the building, which was developed by Orput Cos. Inc. in 2011. Advance Auto has 14 years remaining on its lease. The Boulder Group represented Orput Cos. in the transaction, while SAR Enterprises represented the tenant.
NORTHFORD, CONN. — GFI Realty Services has arranged the $2.3 million sale of a freestanding Rite Aid property in Northford. The property, which also has drive-thru service, totals 10,445 square feet. Marc Alper of GFI Realty represented the seller in the transaction. Roni Abudi, also of GFI, represented the buyer.
MARBLE FALLS — The Weitzman Group has arranged the sale of the 7,852-square-foot Highland Quarry Shopping Center, located at 1304 N. Highway 281 in Marble Falls. The center features tenants such as Anytime Fitness, a tanning salon and a nail salon. Brad Bailey and Logan Reichle of The Weitzman Group represented the seller, an Austin-based investment group, in the transaction. The buyer was an Austin-based partnership.
POMONA, CALIF. — Jack In The Box corporate has signed a five-year lease extension for a free-standing, 2,612-square-foot restaurant in Pomona. The restaurant chain has occupied the site, which is located at 2098 S. Garey Ave., since 1994. Jack In The Box represented itself in this transaction, while the landlord, 6816 Lankershim Associates, L.P., was represented by Ash Joshi of Capital Realty Solutions.
MINN. — Nash Finch Co. plans to open two new Family Fresh Market stores in River Falls, Wis., and Farmington, Minn. The River Falls store is located at 303 S. Main St. and includes 41,300 square feet. The Farmington store is at 115 Elm St. and contains 22,700 square feet. The stores mark the third and fourth locations for the fresh-focused banner. The others are in Hudson and New Richmond, Wis.
FORT WORTH — Dick's Sporting Goods is slated to open a 50,000-square-foot store that will anchor the 140,000-square-foot Phase II of Alliance Town Center, located on Interstate 35 West at Heritage Trace Parkway in North Fort Worth. Alliance Town Center currently spans 800,000 square feet and includes tenants such as Belk, JC Penney, Best Buy, Jos. A. Bank, Kroger Marketplace, PetSmart, Ulta, Olive Garden and Chick-fil-A, among other retailers and restaurants. The shopping destination is owned by a joint venture between Hillwood and Trademark Property Co. Construction of the Dick's Sporting Goods store is slated to begin in July and is scheduled to open in the summer of 2014.
PHILADELPHIA — NorthMarq Capital has arranged a $29.5 million construction loan for Bakers Square Shopping Center, a 220,000-square-foot shopping center that will be built at Fox Street and Roberts Avenue in Philadelphia. Major tenants at the center are Shop Rite and Ross Dress for Less. Joseph Sweeney of NorthMarq Capital arranged the 20-year loan for the borrower, TKMG Associates LP, through a regional bank. The loan has a 30-year amortization schedule.
CORNWALL, N.Y. — National Net Lease Realty has arranged the $4.1 million sale of a CVS in Cornwall. The buyer is a New York-based investor who acquires core, net-leased assets. Terry marks of National Net Lease Realty represented the seller, a private investor in the transaction.
CHESTNUT HILL, MASS. — Pottery Barn, Swedish children's apparel retailer Polarn O. Pyret and Treat Cupcake Bar have signed new leases for space at the Chestnut Hill Shopping Center in Chestnut Hill. The new stores are scheduled to open in the spring of 2013 in a new building at the site of a former Macy's. The new stores join others recently announced including The Sports Club/LA , Cinema de Lux, Shake Shack, Pinkberry and gourmet Asian restaurant, Bernard's.