MILWAUKEE — Marcus & Millichap of Milwaukee has arranged the $1.8 million sale of a 14,340-square-foot Dollar Tree in the city. The single-tenant property is located along South Howell Street. Jeff Rowlett and Jason Ladner of Marcus & Millichap represented the seller, a Wisconsin developer, in the deal. The buyer was a private investor from California.
MARLTON, N.J. — Mainardi Management Co. has obtained an $11.7 million loan for the Greentree Square Shopping Center in Marlton. The 110,000-square-foot center is anchored by Whole Foods Market. Tom Didio and Mike Cerullo of HFF arranged the loan through Allstate Insurance Co. The 10-year loan carries a fixed rate of 4 percent.
CENTRAL VALLEY, CALIF. – A portfolio sale that includes four Rite Aids in the Central Valley has sold to a private investor for $23 million. The properties total 69,088 square feet throughout Shafter, Fresno, Selma and Delano. The buyer was represented by Craig Tomlinson of Stan Johnson and Associates. The seller, Halferty Wilson Nicholas Properties, LLC, was represented by Christopher E. Maling and David Maling of Colliers’ Downtown Los Angeles office.
LIVONIA, MICH. — Farmington Hills, Mich.-based Pet Supplies Plus has signed a new lease for 33,000 square feet to relocate its national headquarters to Laurel Office Park in Livonia. Pet Supplies Plus is the third-largest pet specialty retailer in the U.S. with 257 stores in 23 states. The new headquarters will be located at 17197 N. Laurel Park Dr. David Friedman of Friedman Integrated Real Estate Solutions represented the landlord, Laurel Office Park in the transaction. Jeff Cavazos of NAI Farbman represented the tenant.
NEWARK, N.J. — An $8 million, full-service supermarket opened in Newark on Feb. 28. The 31,000-square-foot Food Depot is located in a rehabilitated warehouse at 75 First St., which was vacant for more than 10 years. The owners are Orfilio Chaviano and Nectalier Gonzalez, who have more than 40 years of combined experience in the grocery industry. The center marks the first full-service supermarket to open in Newark's Central Ward in 22 years.
WALLISVILLE — Peter Piper Pizza has broken ground on a 12,000-square-foot restaurant, located at 6223 E. Sam Houston Parkway N. on Beltway 8 at Wallisville Road in Wallisville. The property is the first of 25 Peter Piper Pizza locations to be built in the Houston market during the next 8 years. The new restaurant is slated to open this summer, and there are properties under contract in Del Rio, Victoria, Corpus Christi, New Braunfels and Waco. Each new restaurant represents an investment of more than $3.5 million.
HOUSTON — Seasons 52 has chosen Houston's Millennium High Street for its second restaurant in Texas, located at 4410 Westheimer Road inside the 610 Loop. The property will feature two private dining rooms, a custom wine cellar, a piano bar and an exclusive chef's table. Houston-based The Dinerstein Companies will develop the property, which is slated to open in spring 2013.
CARROLLTON, GA. — Atlanta-based Halpern Enterprises has commenced a $15 million expansion at the 297,300-square-foot Carrollton Crossroads, located at the intersections of South Park Street and Highway 166 in Carrollton. The 65,000-square-foot renovation and expansion of Kroger will include areas selling jewelry and home goods, along with a Starbucks location. In addition, the company will break ground in March on an Olive Garden on one of the center's outparcels. The center is 98 percent leased. Kroger is slated for completion in June 2013, and Olive Garden is scheduled to open in July.
FAYETTEVILLE AND SANFORD, N.C. — ARC Shopping Center REIT, through its PECO-ARC Institutional Joint Venture I, has acquired two North Carolina shopping centers for $11.6 million. In Fayetteville, the joint venture purchased the 66,890-square-foot Westin Center, located at 9545 Cliffdale Rd. in Fayetteville. A 29,000-square-foot, recently renovated Food Lion anchors the center, which is fully leased to tenants including CVS/pharmacy, Family Dollar, Subway and Rent-A-Center. In Sanford, the buyer purchased the 62,382-square-foot Tramway Crossing, located at 2244 U.S. 1. A 29,000-square-foot Food Lion anchors the center, which is 95.5 percent leased to tenants including CVS/pharmacy, Family Dollar and H&R Block.
MACHESNEY PARK, ILL. —Orput Cos. has sold its single-tenant, net leased Advance Auto Parks property, located at 1535 W. Lane Rd. in Machesney Park, for $1.5 million. Orput developed the 6,124-square-foot building in 2011. Advance Auto Parts has 14 years remaining on its lease. The Boulder Group represented Orput in the transaction. SAR Enterprises represented the buyer, a California-based investor.