NEW YORK CITY — Robert K. Futterman & Associates (RKF) has brokered the sale of a retail condominium in Midtown Manhattan for $16.25 million. The condo totals 6,183 square feet and is located at 750 Eighth Ave. in the ground floor of the 43-story The Platinum residential building. The condo was vacant at the time of the sale. The RKF team of Michael Worthman and Brandon Eisenman represented the seller, SJP Residential Properties, and procured the buyer, Hershel Torkian.
MANCHESTER, MO. — Mungenast Lexus of St. Louis has become the first LEED-NC Lexus new car dealership built from the ground up in the U.S. Located at 13700 Manchester Rd. in Manchester, Mungenast Lexus is a branch of the Mungenast Automotive Family. The dealership called upon HDA Architects, Holland Construction and Vertegy to design and build the sustainable property. Efficient lighting, water-saving devices and other environmentally friendly elements were incorporated into the 70,000-square-foot facility. More than 91 percent of the construction and demolition waste was diverted from the landfill by way of recycling centers and reuse.
SYOSSET, N.Y. — NorthMarq Capital has arranged $7.7 million in construction and permanent financing for a retail project in Syosset. The project, which is located at 240 Jericho Turnpike, consists of the conversion of a former car dealership into a 30,000-square-foot, high-end retail center. The financing includes a 2-year acquisition, construction and renovation financing component along with a non-recourse, permanent loan for up to 10 years. Ernest Des Rochers of NorthMarq's New York City office and Charles Cotsalas of the firm's Long Island office secured the financing through a regional bank on behalf of the undisclosed borrower.
PANAMA CITY BEACH, FLA. — West Palm Beach, Fla.-based Kennedy Contractors has begun construction on a 26,000-square-foot, free-standing Marshall's, located at Simon Property Group's Pier Park in Panama City Beach. The 1.1 million-square-foot open air plaza is located on Front Beach Road. Marshall's is expected to open in the fall.
ATTLEBORO, MASS. — The Federated Companies has disposed of the remaining retail property in its portfolio. The property is a 15,950-square-foot, freestanding building located at 115 Washington St. It is fully occupied by Goodwill Industries. The property sold to a private party for $2.63 million.
NORTH WINDHAM, CONN. — New England Retail Properties (NERP) has brokered the sale of a Tractor Supply Co. location in North Windham. Windham Crossing, a NERP affiliate, developed the property, located on Route 6, in 2009 as a build-to-suit for Tractor Supply. Mark D'Addabbo of NERP represented Windham Crossing as the seller. Leonard Mazzone represented the buyer, a New Jersey-based investment group.
NORMAN, OKLA. — Inland Real Estate Acquisitions, Inc., on behalf of Inland Diversified Real Estate Trust, Inc., has acquired University Town Center, a newly constructed 158,516-square-foot retail center in Norman, for $32.5 million. Tenants include TJ Maxx, Office Depot, Ulta, Petco, Dress Barn, Hallmark, Maurices, AT&T Cellular and Qdoba. The center is shadow anchored by a Super Target that wasn't purchased by Inland. Matthew Tice represented Inland in house, while Ryan Shore and Doug Hazelbaker of HFF represented the unlisted seller.
WILMINGTON, N.C. — Kite Realty Group Trust has announced that Whole Foods Market will anchor its recently acquired shopping center in Wilmington. The specialty grocer will occupy 37,746 square feet of space within the center, which has been renamed Oleander Point, and will also have a 2,500-square-foot patio. Construction will begin this summer, and the Whole Foods will open next spring. Kite Realty acquired Oleander Point, which is located at the intersection of U.S. Highway 76 and Fordham Road, in February. The name change and the new anchor tenant are part of a $5 million redevelopment the company is completing. Once complete, the shopping center will contain a total of 57,657 square feet, consisting of the Whole Foods, approximately 14,000 square feet of small-shop space and an outparcel tenant.
MINNETONKA, MINN. — Construction has begun on a 32,000-square-foot standalone Whole Foods, located at 1001 Plymouth Rd. in Minnetonka. A joint venture between St. Paul, Minn.-based Paster Enterprises and Shiner Capital Partners is building the project. General contractor Novak Construction will oversee the exterior minor modifications and a complete interior overhaul on the former Circuit City building. The location is slated for a fall opening.
NARRAGANSETT, R.I. — Marcus & Millichap has completed the sale of a 10,822-square-foot, freestanding Rite Aid in Narragansett for $2.44 million. The property was constructed in 1998 and is located at 1192 Boston Neck Road. Rite Aid is in year three of a 20-year, triple-net lease. Margaret Huelskamp and Brad Nathanson of Marcus & Millichap represented the seller, a New York-based limited liability company. Nathanson also represented the buyer, a New Jersey limited liability company.