MIAMI — HSBC Bank has sold two retail units at ICON Brickell in Miami for a combined total of $6.5 million to a New York-based private investor. The spaces are a 13,230-square-foot retail unit in the Northeast tower and an 11,393-square-foot unit in the Southeast tower. Fabio Faerman of Miami-based Fortune International Realty represented both parties in the transaction.
Retail
KANSAS CITY, MO. — Arby's and Wendy's have both acquired land to construct new restaurants at North Oak Village, located at North Oak and Vivion roads in Kansas City. Arby's purchased 36,000 square feet for a 2,800-square-foot restaurant. Mark McConahay with Kansas City-based Block & Co. represented the Arby's and Chuck Zoog with The R.H. Johnson Company represented the seller, Hunt Midwest/The R.H. Johnson Company, in the transaction. Wendy's purchased 43,365 square feet for a 3,000-square-foot restaurant. Cas Patykiewicz with The R.H. Johnson Company represented Wendy's and Zoog represented Hunt Midwest/R.H. Johnson Company, the seller, in the transaction. Wendy's will open late 2012.
PITTSBURGH, PA. — The former Showcase West Cinema building located at 301 Park Manor Drive Parkway West was purchased by Robinson, AD, LLC from Rave Pittsburgh West, LLC. Herky Pollock and Jason Cannon of CB Richard Ellis represented Rave Pittsburgh West, and Steven Esposito and Joseph Mangiacotti of CBRE represented Robinson. The 10.66 acre property includes a parking lot that will be converted to an Auction Direct USA Used Car Superstore.
SAINT JOHNS, FLA. — Marcus & Millichap has brokered the $5.21 million sale of a 14,560-square-foot Walgreens located at 390 State Rd. 13 in Saint Johns. The sale included the assumption of an existing first mortgage loan. Patrick Whitney of the firm's Jacksonville, Fla., office represented the seller and Brad Nathanson of the firm's Philadelphia office procured the buyer, an individual trust.
SOUTH LYON, MICH. — The Michigan office of Mid-America Real Estate has completed the sale of a 55,000-square-foot building within Lyon Town Square Shopping Center, a retail property located at the intersection of 8 Mile Road and Pontiac Trail in South Lyon. The Mid-America team of Richard Kerwin, Bill Wright and Ben Wineman represented the buyer, Topeko Inc., and the seller, Lyon Creek LLC. The acquisition price was not disclosed.
DALLAS — Lakewood Shopping Center, a 67,059-square-foot retail center located at 1904 Abrams Rd. in Dallas, has sold. Kevin Brookmole and Kari Pearce of Colliers International represented Corrigan Investments Inc. in the sale of the center, while Dan Beaird represented Lincoln Property Co. Lakewood Shopping Center’s original building was constructed in 1939 and expanded in 1965. The center includes tenants such as Dixie House Restaurant, Ali Baba, Penne Pomodoro, Radio Shack, Ace Hardware, Go Yoga, Sport Clips and others.
DALLAS — JLCC Investors LLC, an investment entity formed by Jose and Cristina Cuevas, purchased a 15,040-square-foot retail/industrial building in Farmers Branch, Texas, from M&M Investors. 1800flowers/Dallas, a floral business with Jose Cuevas as its franchisee, will lease the facility, which sits at 3380 Belt Line Road. Jean Russo of Cushman & Wakefield of Texas, Inc. represented JLCC Investors in the deal, and Chad Albert of NAI Robert Lynn Company represented M&M. “The highly visible corner lot on Belt Line, along with the planned improvements, is a perfect fit for 1800flowers/Dallas’ expanding business needs,” said Russo. Renovations to the facility are expected by August and 1800flowers/Dallas is expected to move in by September.
LONE TREE, COLO. – Westwood Financial Corp. has sold the 34,749-square-foot Heritage Hills Shopping Center in Lone Tree to Carlisle Properties for $11.4 million. Westwood had owned the property for 11 years before selling it to focus on investment opportunities in the Southeast. The 18-unit retail center is 96 percent leased. Cushman & Wakefield’s Patrick Devereaux and Gene Pride represented Westwood in the transaction.
NORFOLK, VA. — PF Norfolk d/b/a/ Planet Fitness has signed a 10-year, 16,900-square-foot lease at East Beach Marketplace, located at 4245 E. Little Creek Rd. in Norfolk. George Fox and Denbeigh Marchant of Virginia Beach, Va.-based Wheeler Real Estate Co. represented Little Creek Investment Corp., the landlord, in the transaction.
PAINESVILLE, OHIO — Cleveland-based Goodman Real Estate Services Group has brokered the sale of Painesville Commons Shopping Center, a 141,900-square-foot retail center located in Painesville. Tenants at the property include Cinema 20, Save-A-Lot, AutoZone and Sherwin-Williams Paints. Goodman's Kyle Hartung and Rob Yaskanich represented the undisclosed buyer, which purchased the center at auction.