BLUE SPRINGS, MO. — Passco Cos. has completed its $4.3 million acquisition of Shoppes at Coronado Place I, a 14,534-square-foot strip center in Blue Springs, two miles from downtown Kansas City. The center was built in 2008 and was fully occupied at the time of sale. Tenants include Adams Dairy Bank, AT&T Wireless and Vintage Stock. Keoni Fursse of Kokua Realty represented the seller, Coronado Partners LLC, in the transaction. Passco was self-represented.
ERIE, PA. — Cooper Commercial Investment Group has arranged the $1 million sale of West 38th Street Plaza, a retail center at 2301 W. 38th St. in Erie. The 96,000-square-foot center contains 78,000 square feet of vacant, big-box space as well as a 4-acre outparcel for future development. Tenants include Subway and Snap Fitness. Bob Havasi and Dan Cooper of Cooper Commercial represented the sellers, DDR Erie LLC, in the transaction. The buyers were a private group based in Erie.
SUNNYVALE, CALIF. — A 14,820-square-foot Walgreens drugstore in Sunnyvale has sold to an apartment owner for $10.05 million. The sale was part of a 1031 exchange. The freestanding drugstore was built in 2008 on 1.5 acres at 780 East El Camino Real. Walgreens has a 75-year triple-net lease with 22 years remaining on its initial term and 10 percent rental escalations every 10 years. Thomas Doglio of Marcus & Millichap’s Palo Alto office represented the buyer in this transaction.
PUYALLUP, WASH. — River Road Retail, an 11,291-square-foot retail property in Puyallup, has sold to a limited liability company for $4 million. The property is located at 1002 North Meridian. The center is fully occupied and anchored by a Fred Meyer supermarket. Dino A. Christophilis, Daniel Chhan and Marc Cunningham of Marcus & Millichap’s Seattle office represented both the buyer and the seller, another limited liability company.
MACON, GA. — Westwood Financial Corp. has purchased the 86,631-square-foot Wesleyan Station, a shopping center located at 4650 Forsyth Rd. in Macon, for $8.9 million. The property is 92 percent leased to tenants, which include Kroger, Tuesday Morning, Starbucks, El Sombrero Mexican Restaurant, Cricket Wireless, ASP Pool Spa, LaBerry Yogurt and Macon Crossfit.
ERIE, PA. — DDR Erie LLC has sold West 38th Street Plaza, a retail center located at 2301 W. 38th St. in Erie, for $1 million. The 96,000-square-foot property includes 78,000 square of vacant, big-box space and a vacant, 4-acre outparcel for future development. Tenants include Subway and Snap Fitness. Bob Havasi and Dan Cooper of Copper Commercial Investment Group represented DDR Erie in the transaction. The buyers were a private group from Erie.
AUSTIN — The Weitzman Group has brokered the sale of the 10,500-square-foot Sunset Plaza, a neighborhood retail center located at 8774 W. Adams Ave. in Austin. Brad Bailey and Logan Reichle of Weitzman's Central Texas office represented the seller, an Austin-based development company, in the transaction. The buyer was a Temple-based investor. Sunset Plaza is fully leased to tenants such as Anytime Fitness, Sol de Jalisco Mexican restaurant, Best Cuts and Insurance Network of Texas.
HOUSTON — HFF has arranged a $10 million refinancing for the 59,873-square-foot 610 & San Felipe Shopping Center, located at the northeast corner of Loop 610 and San Felipe Street in Houston. Robert Wooten of HFF arranged the 20-year, fixed-rate loan through Lincoln Financial Group on behalf of the borrower, 610 & San Felipe, Inc. The fully leased property is anchored by Ashley Furniture and includes tenants such as David's Bridal, Starbucks, Antone's and Jack in the Box.
MORGANTON, N.C. — Morganton-based Ferrari Investments has sold five KFC/Taco Bell restaurants and two KFC restaurants, located in North Carolina, to STORE Capital and OMAA for $7.8 million. The properties are located in Hudson, West Jefferson, Cherryville, Marion, Denver, Richfield and Lincolnton, N.C. Sam Young of Cassidy Turley represented the seller in the transaction. Steven Peden and Annette Montgomery of Colliers International represented the buyer.
CLEVELAND — Developers of the Flats East Bank in Cleveland have secured commitments from five new restaurants. The restaurants signing lease deals include Toby Keith's I Love This Bar & Grill, Ken Stewart's, Lago, Flip Side and Dos Tequilas. The developers say the new signings show the $500 million project is gaining attention locally and nationally. Construction is well underway on the first phase of the project, which includes an 18-story office tower, a 150-room hotel and a health club. The $120 million second phase will include residential and additional retail and entertainment properties. The incoming restaurants come on the heels of commitments from office tenants Ernst & Young, Tucker Ellis and CBRE.