ANNAPOLIS, MD. — DSW has signed a lease for 23,284 square feet at the 290,000-square-foot Annapolis Harbour Center, located at 2512 Solomons Island Rd. in Annapolis, to open a new store this fall. It will be the 12th DSW in Maryland and the first in Annapolis. KLNB Retail represented the tenant in the lease negotiations and Janet McCarthy and William WInterburn of Rockville, Md.-based Lerner Enterprises represented the landlord, Annapolis Harbor Center Associates.
CHICAGO — The Macerich Company has purchased the Neiman Marcus located at Oakbrook Center in Chicago from General Growth Properties (GGP). The deal was part of a $75 million transaction in which GGP sold its interest in two Phoenix hotels as well as four retail properties in Chicago, California and Utah.
ILLINOIS — Marcus & Millichap has completed the sale of three Walgreens properties in Illinois for a total of $15.18 million. The properties are located at 347 E. 95th St. in Chicago, 35613 State Route 59 in Warrenville and 1080 N. Seventh St. in Rochelle. John Nuzman of Marcus & Millichap's Detroit office represented the seller, a limited liability company. David Thurston of the firm's New Jersey office, represented the buyer, a private investor. John Przybyla of the firm's Chicago office provided assistance. Geoffrey Harris of the Phoenix office of Marcus & Millichap Capital Corp. arranged acquisition financing.
IOWA — Casey's General Stores has agreed to purchase 22 Kum & Go convenience stores from the company for an undisclosed amount. The properties, all of which are in Iowa, are located primarily in rural parts of the state. They will be rebranded to Casey's once the deal closes, which is expected in July.
WEST ODESSA — A 6,446-square-foot AutoZone, a single-tenant, net-leased property, has sold in West Odessa. The buyer, a limited liability company, was secured and represented by Ray Germain, an investment specialist in Marcus & Millichap's Las Vegas office. The retail property is located at 420 N. County Rd.
HOUSTON — DriveTime has purchased the former Beck & Masten car dealership at 11205 Gulf Freeway in Houston. The 8.8-acre tract included a 22,339-square-foot showroom and maintenance facility. The buyer was represented by John Ferruzzo and Stephen Tou of NAI Houston. Christopher Klein of Colliers International represented the seller, Barnett Realty, Inc.
CHARLOTTESEVILLE, VA. — Dallas-based The Cogent Group has acquired 12 convenience stores and gas stations, totaling 21 acres in Charlottesville, all of which are leased to Charlottesville-based Virginia Oil Co. The purchase was part of a simultaneous transaction among The Cogent Group, VPS Convenience Store Group (an affiliate of Sun Capital Partners) and Virginia Oil Co. In conjunction with VPS's acquisition of Virginia Oil Co., The Cogent Group acquired Virginia Oil's fee-owned properties through a concurrent sale-leaseback transaction.
FORT LAUDERDALE, FLA. — Stiles has been selected to build the new 50,000-square-foot flagship store for West Marine, to be located at 2401 South Andrews Ave. in Fort Lauderdale. This will be West Marine's largest store. In January 2011, Stiles acquired the land with construction financing provided by Wells Fargo and has leased the space to West Marine on a long-term basis.
BRAINTREE, MASS. — Here Comes There Goes, a joint venture between Dinosaur Capital Partners and The Grossman Cos., has purchased a former Borders, located at 255 Grossman Dr. in Braintree, from Zaremba Group for $4 million. Andrew Bonica and Michael Hotarek of Newton, Mass.-based Eastern Retail Properties represented the buyer.
MISHAWAKA, IND. — Syndicated Equities has arranged the sale of a 3,592-square-foot, single-tenant property net-leased to Arby's in Mishawaka. The property was purchased by a Florida-based investor from an Indiana-based real estate developer for $1.34 million. Isaac Metzger of Syndicated Equities represented both parties in the deal.