COMMERCE, GA., AMITE, LA., AND DESTIN, FLA. — Marcus & Millichap has facilitated the sale of three Walgreens. The 14,500-square-foot Walgreens, located at 2100 Broad St. in Commerce, sold for $5.15 million. The seller was represented by Lori Schneider of Marcus & Millichap's Fort Lauderdale, Fla., office. The buyer was represented by Lane Schwartz of Marcus & Miliichap's West Los Angeles office. Next, the 14,550-square-foot Walgreens, located at 300 West Oak St. in Amite, was sold for $4.99 milion. The seller was represented by Schneider. Finally, the 14,430-square-foot Walgreens, located at 977 Highway 98-E in Destin, was sold for $2.8 million. The seller was represented by Schneider. Marc Strauss of Marcus & Millichap's Fort Lauderdale office and Michael Jaworski and Benjamin Berry of the Tampa, Fla., office represented the buyer.
Retail
AVENTURA, FLA. — Coconut Grove, Fla.-based Aztec Group has secured $8.5 million in bridge financing for the 44,500-square-foot Biscayne Harbour Shops, located at 181st Street and Biscayne Boulevard in Aventura. Howard Taft and Charles Penn of Aztec Group secured the financing through a New York-based real estate finance company. Terms of the 2 year facility include a 60 percent loan-to-value ratio and a floating rate. The buyer is Blue Green Capital, an affiliate of Aventura-based Triarch Investment Group.
ST. CHARLES, MO. — A joint venture between New York-based Cohen Commercial Properties and New York-based DRA Advisors has purchased the 300,000-square-foot Mark Twain Shopping Center, located in St. Charles. The open-air center is anchored by Bass Pro Shops, Gordman's Department Store and Aldi's Supermarket. Local, regional and national tenants and 7 restaurants are included in the property. There is also approximately 30,000 square feet of vacant space and the potential to develop over 4 acres of adjacent land.
NORTH OLMSTED, OHIO — The 4,886-square-foot, two-building Domino's Pizza Plaza, located on Lorain Avenue in North Olmsted, has sold for an undisclosed price. The building is 100 percent leased to Domino's and Hanna's Pub. Kyle Hartung and Rob Yaskanich of Cleveland-based Goodman Real Estate Services Group were the exclusive listing agents for the property.
NEW YORK CITY — Equity One has acquired a fee interest in a Manhattan retail condo for $55 million. The property totals 56,870 square feet and is located at 161 W. 16th St. in Chelsea. Loehmann's leases the space until March 2016. The seller's name was not released.
SOMERSET, N.J. — Colliers International has brokered the sale of a 20,164-square-foot retail center located at 464 Elizabeth Ave. in Somerset for $8.9 million. The center was constructed in 2009 and is tenanted by Rite Aid, Dunkin Donuts and New Millennium Bank. The buyer was a regional investor. William Aiello and George Lulos of Colliers' Harrisburg, Pa., office partnered with Ian Schroeder and Maurice Nieman of the firm's Irvine, Calif., office to represent both parties in the deal.
HOUSTON — The 36,645-square-foot Copper Grove Shopping Center has changed hands. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, a local partnership. The buyer, an Oklahoma partnership, was also secured by Goldstein. Copper Grove Shopping Center is located at 8955 N. Hwy. 6 in Houston. It was built in 2007 and sits on 175,982 square feet of land.
PEARLAND — ARA has facilitated the sale of three REO land sites — Pearland, Trails at Seabourne and Village East. Tim Dosch and David Marshall of ARA represented the seller, BBVA Compass Bank, in all three transactions. Both Trails at Seabourne and Village East were purchased by local buyers, Woodcreek Mortgage Corp. and Larry Hollman, respectively, who plan to develop the sites for single-family homes. The 40-acre Pearland site, however, was purchased by Parkside Capital, LLC, a Houston-based company that focuses on land investment opportunities in Houston, Austin, San Antonio and Dallas. Parkside Capital plans to develop the land and sell sites for retail use. The Pearland site is located on the northwest corner of SH 288 and CR 59 in Pearland.
NAPLES, FLA. — Globalvest Investments Group has purchased a 45,878-square-foot retail building located at 5015 Tamiami Trail in Naples from LNR Partners for $3.5 million. The CB Richard Ellis team of Larry Foster and Mike Concilla represented LNR, and David Stevens of IPC represented Globalvest.
BRYN MAWR, PA., AND NEW YORK CITY — A joint venture between Bryn Mawr-based WP Realty and New York City-based Angelo, Gordon & Co. has purchased The Shaw's Portfolio for an undisclosed amount. The eight-property portfolio contains 659,143 square feet of retail space. It consists of seven Shaw's anchored shopping centers and a freestanding property occupied by Hannaford Brothers. The properties range in size from 57,181 to 124,331 square feet. Five of the centers are located in Massachusetts, two are located in Maine and one is located in Rhode Island. Combined occupancy was 97 percent at the time of closing. The seller was not disclosed.