LOXAHATCHEE, FLA. — A freestanding Walgreens, located at 15940 Orange Blvd. in Loxahatchee has sold for $7.87 million. The buyer, US Property Management, was represented by Greg Woulfe of Morgan Property Group's Florida office. The seller, Loxahatchee Venture, was represented by Mark Drazek of CB Richard Ellis' Orlando, Fla., office, Todd Weintraub of CB Richard Ellis' Miami office, and Dave Donnellan and Bill Strauss of CB Richard Ellis' Palm Beach County, Fla., office.
CINCINNATI — An affiliate of Yale Realty Services purchased the 9,850-square-foot Evendale Commons in Cincinnati from a joint venture between Anchor Properties and Miller-Valentine Group. It is part of an 80-acre mixed-use planned development. Featured tenants include Chipotle, Starbucks, GameStop and Verizon. The property is situated at the entrance to a new Walmart Supercenter-anchored complex. Colliers International represented the seller and Reed Weinberg and Fred Sutterlin of Louisville-based PRG Investments represented the buyer.
BRIDGEPORT, CONN. — DeMattias Cos. has purchased the former Key Lincoln Mercury auto dealership located at 425 North Ave. in Bridgeport. The property contains a 23,000-square-foot showroom, warehouse and service facility on 1.5 acres. The buyer plans to use part of the building as warehouse space. Vidal/Wettenstein represented the undisclosed seller in the deal.
SAN DIEGO — Meridian NP LLC has sold a 4,295-square-foot U.S. Bank pad to Belesquez Trust for $3 million. Epsteen & Associates/San Diego LLC’s Joe Wojdowski represented the San Diego-based seller in the transaction, and John Andreini of Capital Pacific represented the San Francisco-based buyer. The property is situated within a Fresh & Easy Neighborhood Market-anchored retail center in the North Park area of San Diego.
CORAL SPRINGS, FLA. — The 63,900-square-foot North Hills Square, an open-air shopping center located at 4650 University Dr. in Coral Springs, was purchased by Boca Raton, Fla.-based Dizengoff-Trading Group for $8.9 million. The center, anchored by a 52,024-square-foot Wal-Mart, is currently 97 percent leased. The seller, an undisclosed financial institution, was represented by Steve Miskew with Delray Beach, Fla.-based RJS Realty Group. The buyer was not represented.
NEW YORK CITY — Duane Reade has renewed the lease for its 10,000-square-foot pharmacy at 401 Park Avenue South in New York City for an additional 20 years. The initial lease term was set to expire in 2015. The tenant plans to complete a multi-million upgrade to the space in the near term. The landlord was Meringoff Properties. Winick Realty Group represented the tenant in the transaction.
ST. JOHN, IND. — An undisclosed Canada-based investor has purchased the ground lease of a Citizens Financial Bank property in St. John. The 36,258-square-foot property, which is long-term leased to the bank, sold for $1.61 million. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago-based partnership, in the transaction.
NEW YORK CITY — American Realty Capital New York Recovery REIT has purchased a retail property located in Brooklyn's Bensonhurst neighborhood for $6.17 million. Foot Locker occupies the property through 2026. This marks the seventh property in New York City purchased by the REIT. The other six are located in Manhattan.
LAS VEGAS — CB Richard Ellis has closed the $4.8 million sale of the Sahara Rainbow Center, located at 2350 S. Rainbow Boulevard in Las Vegas. Omninet Sahara LLC purchased the 53,000-square-foot retail complex. CBRE’s Charles Moore and Marlene Fujita represented the seller in the transaction.
IDAHO FALLS, IDAHO — CB Richard Ellis has closed the $4 million sale of the 220,000-square-foot Yellowstone Square, a retail center located in Idaho Falls. West One Logistics purchased the property, which was part of a 22-property, nationwide portfolio owned by General Growth Properties. CBRE’s Eric Gustafson and Craig Thomas represented GGP, which recently emerged from a Chapter 11 bankruptcy restructuring, in the transaction.