CARMEL, IND. — Eidco Construction has started work on a 5,000-square-foot retrofit project at 2325 Pointe Pkwy. in Carmel. United RX — a full-service pharmacy company — has enlisted Eidco to convert a portion of the building, formerly a fitness center, into a pharmacy facility. Carson Design is providing the architectural services for the project.
CENTERVILLE, OHIO — Huffy Corp., a sporting goods supplier, has signed a 29,400-square-foot office lease at 6511 Centerville Business Pkwy. in Centerville. Centerville is part of the Dayton metro area. Tom McGarity of Cassidy Turley represented the landlord, ReCorr Realty Corp. in the transaction.
DALLAS — Beck Ventures has purchased the 1.65 million-square-foot Valley View Center, a regional mall located at the intersection of Preston Road and LBJ Freeway in Dallas, to be part of a $2 billion mixed-use project known as Dallas Midtown. Jack Crews, John Alvarado and Evan Stone of Jones Lang LaSalle represented the seller, LNR Partners, in the transaction.
COLLEGE STATION — Hunington Properties has brokered the sale of the 7,691-square-foot College Station Shopping Center, located on University Drive in College Station. The property is fully leased to national tenants including Papa John's Pizza and David's Bridal. Sandy Aron of Hunington Properties represented the seller in the transaction.
GRIFFIN, GA. — The Kroger Co. and Collins & Arnold have broken ground on a $12 million, 94,000-square-foot Kroger and an 18-pump Kroger Fuel Center at the 102,000-square-foot Griffin Pavilion, located at GA Highway 16 and GA Highway 19/41 in Griffin. The Sofran Group developed the center, which includes tenants such as Lowe's Home Improvement, O'Reilly Auto Parts and Wells Fargo Bank. Completion is slated for November 2012.
GAITHERSBURG AND FREDERICK, MD. — Fitness First has purchased two properties for a total of $5.34 million. The company acquired a 17,670-square-foot flex/retail building, located at 18810 Woodfield Rd. in Gaithersburg from Sumo Holdings Maryland. Bill Quay and Ro Waldron of McShea represented the seller in the transaction. In Frederick, the company purchased the 23,011-square-foot former Frederick Athletic Club, located at 5245 Westview Dr., from Even Par. Rick Farren and Brad Benna of McShea represented the seller. Christopher Coccaro, Jeff Massie and Nick Finelli of Broad Street represented the buyer in both transactions. The former Frederick Athletic Club will continue to operate and gradual changes will be made to transition to the Fitness First model. The inside of the Woodfield property will be reconstructed and open by year's end.
GREEN BAY, WIS. — Greg Maloney of Jones Lang LaSalle has been appointed receiver of the East Town Mall, a 198,000-square-foot shopping center in Green Bay. Under Maloney's leadership, Jones Lang LaSalle's retail leasing and management team has assumed immediate oversight of the mall and is working to stabilize the asset. The East Town Mall was built in 1982 and has been remodeled three times over the years. Anchor tenants include Hobby Lobby, Petco and Fashion Bug. The mall will remain open. As receiver, Maloney will control and direct the asset until a resolution between the lender and borrower is achieved.
CHICAGO — Kohlberg Kravis Roberts & Co. in partnership with YTC Retail, has purchased the Yorktown Center Mall for $196 million from a consortium of individuals, including Bob Long, son-in-law of Ed Pehrson, the developer who built the mall in 1968. The 1.5 million-square-foot mall is in Lombard, about 20 miles from Chicago. Tenants include The Capital Grille restaurant, AMC Theatres, Gap and JC Penney. YTC Pacific, a partnership between Pacific Retail Capital Partners, Collarmele Partners and Peter Fair will manage the day-to-day operations of Yorktown. The group is also a co-investor. Upgrades are planned, including lighting, signage, food court and entrance improvements.
PRESCOTT, ARIZ. — Depot Marketplace, a 91,461-square-foot, grocery-anchored shopping center, has sold to Depot Marketplace Investors LLC for $11.2 million. The property was redeveloped in 1991 and currently boasts a 92 percent occupancy rate. Bob Young, Glenn Smigiel, Steven Brabant, Rick Abraham and Nancy Romanovsky of CBRE’s Phoenix office, along with Bebe Wright of Arizona Commercial in Prescott, represented the seller, Depot Marketplace Owners LLC, in this transaction.
ONTARIO, CALIF. — Pacific Plaza Shopping Center in Ontario has sold to Westwood Financial Corp. for $7.4 million. The 49,901-square-foot shopping center was built in 1989. It is located at 2544-98 South Archibald. The center is currently 58 percent leased. Notable tenants include 24-Hour Fitness, Taco Bell, Manila Bay Seafood, Pizza Hut, Frazee Industries, Bank of America and Vineyard of Hope. Westwood was represented by Alan Kruger of Marcus & Millichap in this transaction.
