BROOMFIELD, AURORA, COLO. – The Gateway Square and Salida Shops 2 strip centers have been sold by Robert Edwards and Tom Ethington of Pinnacle Real Estate Advisors. Salida Shops 2 in Aurora is fully leased, while Gateway Square in Broomfield was 88 percent leased at the times of sale. Gateway Square sold for 100 percent of its list price, or $277 per square foot. Salida sold for $2,657,214, or $400 per square foot. Edwards and Ethington represented the sellers on these transactions.
ST. LOUIS — Farmington Hills, Mich.-based Ramco-Gershenson Properties Trust (NYSE:RPT) has acquired Town & Country Crossing shopping center in St. Louis for $37.8 million. The 282,000-square-foot shopping center, of which 145,000 square feet is now owned by Ramco-Gershenson, is 81 percent leased and tenants include Target, Whole Foods, Sprint and PNC Bank. The Target store will remain the property of Target. Paul Hilton, Mike Hanrahan and Chase Young of Cassidy Turley represented the seller, TNC Investors, in the transaction. Ramco-Gershenson represented itself in the deal.
MILWAUKEE, WIS. —Waukesha, Wis.-based The Redmond Co. has completed construction of a new facade for a Save-A-Lot store, located at 4821 N. 76th St. in Milwaukee. According to the Redmond Co., the 80 linear foot project was designed to maximize the store's signage and create a more prominent entry way. The project included a new storefront, masonry and lighting.
BURLINGTON, VT. — City Sports, an athletic gear chain, will open a new store in Burlington next summer, marking the Boston-based brand's latest retail venture in New England and its first in the Green Mountain state. Scheduled for a June 2012 opening, the City Sports store will be located at 35 Church St., part of the Church Street Marketplace. City Sports will occupy the first-floor space of a former Borders book store. The Burlington shop will be City Sports' second store to open in the New England area in under a year, joining the Wellesley, Mass. location that opened in September 2011.
DALLAS — Marcus & Millichap has arranged the sale of a 5,850-square-foot Family Dollar store, located at 1928 E. Ledbetter Dr. in Dallas. Blake Burnett of Marcus & Millichap's Dallas office represented the seller, a personal trust based in San Diego, Calif., and procured the buyer, a limited liability company, in the transaction.
NEW YORK CITY — Manhattan-based developer Storage Deluxe has purchased 362 Fourth Ave. in Brooklyn N.Y. for $4.1 million. The 14,420-square-foot site has a 9,525-square-foot building that is currently occupied by a dialysis center. Storage Deluxe plans to develop the site, which is situated between the Hotel Le Bleu and a retail strip center, when the dialysis center's lease expires. Louis Perfetto of Cohen and Perfetto LLP represented Storage Deluxe in the transaction. Ryan Condren, Eric Altschul, Duke McCabe and Marissa Harrison of CPEX represented the seller, a local investor.
HOUSTON — Marcus & Millichap has brokered the $2.45 million sale of a 3,578-square-foot retail facility leased to Chase Bank, located at 3209 N. Shepherd Dr. in Houston. Justin Miller of Marcus & Millichap's Houston office represented the seller, a Houston-based partnership, in the transaction. Reed Hudson of Stan Johnson Co.'s Houston office represented the buyer, a northeast U.S.-based partnership that was procured in a 1031 exchange. The property is leased to Chase Bank for 20 years.
PORT ORANGE, FLA. — A 10,885-square-foot CVS/pharmacy, located at 3771 Clyde Morris Blvd. in Port Orange, has been sold for $2.78 million. Leon Brockmeier of Marcus & Millichap's Tampa, Fla., office, along with Patrick O'Halloran of the firm's Atlanta office represented the seller, a Missouri-based private investor, in the transaction and procured the buyer, a New York-based limited liability company.
OCEANSIDE, N.Y. — Modell's Sporting Goods, an equipment, footwear and active apparel retailer, has opened a 16,460-square-foot store located on Long Beach Rd. in the Long Island community of Oceanside. It is the retailer's 61st location in New York. The company operates more than 140 stores in 11 states.
HOUSTON — Cushman & Wakefield of Texas Inc. brokered the sale of a 83,000-square-foot former Chrysler dealership, located at 19200 Northwest Fwy. in Houston. James Foreman, Louis Kaleel, David Cook, Jeff Peden and Will Condrey of Cushman & Wakefield's Houston office represented the seller, CP Inver Grove III RE Holdco LLC, in the transaction. Phil Arnett of Houston-based D Philip Arnett Inc. represented the buyer, Emerson Electric Co.