DOWNERS GROVE, ILL. — Quantum Real Estate Advisors has brokered the sale of a net-leased retail building in the Chicago suburb of Downers Grove. The property is the outparcel to The Grove Shopping Center, which is located at the corner of 75th Street and Lemont Road. Its two tenants are Sprint and Back To Bed. A local investment company was the buyer. The seller's name was not disclosed. Chad Firsel of Quantum represented both parties in the deal.
COACHELLA, CALIF. – Hudson Holdings, LLC has purchased Coachella Plaza, an 86,402-square-foot retail center at 50249 Harrison Street in Coachella, for an undisclosed sum. Coachella Plaza's tenants include 99 Cents Only, Cardenas Market, Carl’s Jr., Little Caesars and Payless Shoes. Hudson was represented by NAI Capital's Fariba Kavian. Cushman & Wakefield's Marc Renard represented the seller, MidFirst Bank.
JACKSONVILLE, FLA. — Michael Mele of Marcus & Millichap’s Tampa, Fla. office arranged the $1.25 million sale of the 52,800-square-foot, 546-unit Mandarin Mini Storage, a self-storage facility located at 10601 San Jose Blvd. in Jacksonville. The property is comprised of eight one-story buildings and 12 parking spaces. The units range from 50 to 200 square feet. Mele represented both the seller, a REIT, and the buyer, a California-based company.
STUART & FORT LAUDERDALE, FLA. — J. Raymond Construction has been contracted for two new Fresh Market stores in Stuart and Fort Lauderdale. The Stuart location will be at 2300 South East Ocean Blvd., and the Fort Lauderdale location will be at 424 North Federal Hwy. Each of the new stores will be approximately 30,000 square feet. The Stuart location is slated for completion in December 2011 and the Fort Lauderdale location is slated for January 2012. These are the 6th and 7th Fresh Market stores which J. Raymond has constructed.
EDINA, MINN. — Daniel Trebil of NorthMarq's Minneapolis office arranged $3.1 million in first-mortgage financing for a CVS/pharmacy in Edina. The loan was based on a 7-year term with a 30-year amortization schedule and was provided by First Fidelity Bank.
INDIANAPOLIS — RCCM has sold a 66,761-square-foot car dealership, located at 4090 Lafayette Rd. in Indianapolis, to DriveTime Car Sales Co. for $1.16 million. Harvey Levin of Coldwell Banker Commercial Realty Services' Indianapolis office represented the seller and Summit Real Estate represented the buyer.
FAIRLESS HILLS, PA. –– Fairless 1 has purchased a 12,250-square-foot strip center on Lincoln Highway for $895,000. Christopher Munley, Mark Taylor and Dean Zang, all of Marchus & Millichap, represented the seller, Martin Investment Association, and Fairless 1. The property is located within the Oxford Valley retail submarket. Martin Investment maintained the property during the course of 30 years.
DALLAS –– NorthMarq Capital has arranged $1.6 million in financing for 345 West FM-544, a 4,900-square-foot property fully leased to Quik Trip. The financing was based on a 17.5-year term and a 17.5-year amortization schedule. Phillip Bankhead of NorthMarq’s Dallas office arranged the first mortgage financing through American Fidelity.
ATLANTA — Phoenix-based Cole Real Estate Investments has purchased the 425,000-square-foot Camp Creek Marketplace, located at the intersection of Interstate 285 and Camp Creek Parkway in Atlanta, for $76.3 million. The center is currently 93 percent leased to tenants such as BJ's Wholesale Club, Marshalls, Ross Dress for Less, T.J. Maxx, Barnes & Noble, Staples, PetSmart, Old Navy and more. Eric Zimmerman and Miles Theodore of Eastdil Secured's Atlanta office represented the seller and the buyer was self-represented by Thomas Falatko.
FORT MYERS, FLA. — Boca Raton, Fla.-based Halvorsen Holdings has started construction on Phase I of the 70,000-square-foot Eagle Landing, located at the intersection of Bayshore and Slater Roads in Fort Myers. The first phase, which includes a 46,000-square-foot Publix and 12,200 square feet of small shop space, is scheduled to open in spring 2012.
