NEW YORK — New York-based American Realty Capital Trust III has completed the acquisition of five freestanding, single-story Dollar General stores in Missouri for $4.5 million. The Missouri stores, located in Licking, King City, Stanberry, Conway and Auxvasse, total 45,000 square feet. The company also acquired two Walgreens drug stores for $13.1 million in Stevensville, Mich. and Maplewood, N.J. The acquisitions total approximately 72,000 square feet. The properties are fully leased.
COVENTRY, R.I. — Washington Trust's Commercial Real Estate Group provided $1.85 million to Soscia Enterprises, for the refinancing and completion of renovations to Coventry Shoppers Park, a shopping plaza located at 22 Coventry Shoppers Park in Coventry, R.I. Cate Fusco of Washington Trust was the lead lender for the project.
DALLAS — LA Fitness has signed a long-term lease for a 50,000-square-foot facility within Cityville at Cityplace, a mixed-use development at the northeast corner of North Haskell Avenue and U.S. Highway 75 in Dallas. John Zikos and Jonathan Cooper of Venture Commercial Real Estate's Dallas office represented the tenant in the lease transaction, along with Walt Brown of Scottsdale, Ariz.-based Diversified Partners. Jack Gosnell of United Commercial Realty's Dallas office represented the landlord, Cityville Dallas Haskell Limited Partnership. This transaction marks the 27th LA Fitness location in the Dallas/Fort Worth area.
EL PASO — Mimco has signed 10 leases with Texas Car Title & Payday Loan Services in El Paso for a total 26,143 square feet. Mimco was self-represented in the leasing transactions, and Spencer Peterson of Peterson Commercial Real Estate represented the tenant.
BELLFLOWER, CALIF. – The 60,000-square-foo tRosewood Center in Bellflower has sold to Bequer Investments for $6.5 million. The shopping center was 70 percent occupied at the time of sale. Bequer was represented by CBRE’s Arthur Flores. The seller, AG/BP Rosewood, LLC, was represented by Christopher E. Maling and David Maling from Colliers’ Downtown Los Angeles office.
FREDERICKSBURG, VA. — Brava Enterprises has purchased the 22,200-square-foot RC Lee Carpet One building, located at 3711 Lafayette Blvd. in Fredericksburg, from RC Lee Property Acquisitions for $1.25 million. Jamie Scully and Mike Degen of Cushman & Wakefield/Thalhimer's Fredericksburg office represented both parties in the transaction.
BRIDGETON, MO. — New York-based Lightstone Value Plus Real Estate Investment Trust has purchased The Plaza at DePaul, a 193,543-square-foot retail center in Bridgeton. for $19.8 million. Located at the intersection of St. Charles Rock Road and McKelvey Road, the property is anchored by a recently remodeled Kohl's department store. The seller was DePaul 2002 LLC, an affiliate of St. Louis-based The Love Cos. Lightstone was self-represented in the transaction.
PEORIA, ILL. — The Boulder Group has completed the $1.1 million sale of a single-tenant, net leased building occupied by Starbucks, located at 4820 N. University St. in Peoria. The 1,928-square-foot building was developed in 2005 on an outparcel to a Schnuck's grocery store. Randy Blankstein and Jimmy Goodman of The Boulder Group's Northbrook, Ill. office represented the seller, a partnership based in Arizona. The buyer was a private individual investor from Los Angeles.
DALLAS — Dunhill Partners and RioCan, Canada's largest REIT, have purchased the 485,000-square-foot Timbercreek Crossing, a Class A shopping center located at 6185 Retail Rd. in Dallas, from owner and developer Trammell Crow Co. The center includes a two-story Walmart/Sam's Club, JC Penney, Whataburger, Chick-fil-A, Sears, Verizon Wireless, Bank of America and DelTaco. Dunhill Partners will manage the center. Chris Cozby, Chris Gerard and Brandon Ferguson of CBRE's Dallas office represented the seller in the transaction. Mike Bryant, Scott Lewis and Matt Ballard of CBRE's Dallas office arranged the acquisition financing on behalf of the buyers.
SPRING — The Woodlands-based BANDIER Realty Partners has brokered the sale of a 12,060-square-foot retail center, located at 3307 Spring Stuebner W. Rd. in Spring. The property was foreclosed on by Sterling in September. The center is 37 percent occupied and includes a 1.17-acre pad site for future development. Jason Tangen and Jody Czajkoski of BANDIER's Foreclosure Asset Services Team represented the seller, Metro Bank, NA, in the transaction. Mark Terpstra of Houston-based Caldwell Cos. represented the buyer.