POWELL, OHIO — Powell Crossing, a 48,750-square-foot retail center has sold for $7.3 million in Powell. The center's shadow anchor, Kroger, recently expanded its space by 20,000 square feet. Dan Cooper of Cooper Commercial Investment Group represented the sellers, Columbus, Ohio-based Powell-Sawmill LLC. He also found the buyer, a private group from Texas.
CHICAGO — City Winery founder Michael Dorf has purchased a 30,000-square-foot property in Chicago's West Loop to open the first offshoot of his City Winery New York location. City Winery Chicago, a fully operational winery, restaurant and concert hall is scheduled to open at 1200 W. Randolph this summer. Construction has begun to transform the former refrigerated food distribution warehouse into a contemporary winery and hospitality facility. The project team includes architect Christopher Warnick, designer Phillip Katz and Summit Construction.
ONTARIO, CALIF. — Last Call by Neiman Marcus has leased nearly 21,000 square feet at Ontario Mills, an outlet shopping mall in Ontario. It will reside within Neighborhood 6, near other well-known brands along the outlet mall’s designer fashion corridor.
WARNER ROBINS, GA. —The 71,167-square-foot Crossroads Marketplace, located at 3040 Watson Blvd. in Warner Robins, has been sold for $11.25 million. Sonny Molloy of Marcus & Millichap's Atlanta office represented Georgia-based Citizens Square, the seller, in the transaction and procured the buyer, Phoenix-based Cole Real Estate Investments. The center is currently 91 percent leased to tenants including Best Buy, Bed Bath & Beyond and Olive Garden.
TINLEY PARK, ILL. — The Boulder Group has completed the $3.3 million sale of a 13,905-square-foot, net-leased Walgreens, located at 16675 S. Oak Park Ave. in Tinley Park. Walgreens has eight years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago trust, in the transaction. The buyer was a California-based 1031 exchange investor.
CARLISLE, PA. — Giant Food Stores has agreed to buy 16 Genuardi's Family Markets stores in the greater Philadelphia area from Safeway Inc. for $106 million. The outlets will be converted into Giant Food Stores after the transaction is completed. The sale is expected to close in the first half of 2012. Carlisle-based Giant Food Stores has more than 180 outlets and operates in states including Pennsylvania, Maryland and Virginia.
JERSEY CITY, N.J. — Time Equities Inc. has purchased a 9,134-square-foot retail condominium, located at 389 Washington St. in Jersey City, for $2.8 million. The property is on the ground floor of the Luxury A Condominiums, a 33-story residential building. Jeff Fishman, Barry Fishbach, Brian Segall and Jonathan Butwin of RFK's New York office represented the project's developer, GTIS Partners. Time Equities was represented in-house by Chris Pulling and Hy Schermer.
MAGNOLIA — Marcus & Millichap has arranged the $1.7 million sale of the 13,013-square-foot Magnolia Plaza, a retail center located at 18602 FM 1488 in Magnolia. James Bell of Marcus & Millichap's Houston office represented the seller, a private investor, in the transaction.
GEORGIA AND FLORIDA — Strategic Storage Trust, Inc. (SSTI) has purchased a portfolio of 12 self-storage properties in Georgia and Florida for approximately $80 million. The properties total 8,000 units and nearly 1 million square feet. The facilities will be rebranded under the SmartStop Self Storage name. The Georgia properties are located in Kennesaw, Sharpsburg, Duluth (three properties), Marietta, Austell, Sandy Springs, Smyrna and Lawrenceville. The remaining two properties are in Jacksonville, Fla.
MOUNT PLEASANT, S.C. — A 14,500-square-foot, single tenant net-leased Walgreens, located at 2903 N. Hwy. 17 in Mount Pleasant, has been sold for $7.37 million. Randy Blankstein and Jimmy Goodman of Northbrook, Ill.-based The Boulder Group represented the buyer, a Chicago-based 1031 exchange investor, in the transaction. The seller was a Southeast-based developer.