Retail

COLORADO SPRINGS, COLO. — Cushman & Wakefield of Colorado has brokered the $2.6 million sale of the 57,640-square-foot Centennial Commons, located at 4685 – 4705 Centennial Blvd. in Colorado Springs. Built in 1997 and 36 percent occupied at the time of sale, the property was sold by CW Capital Asset Management to a private California investor. Cushman & Wakefield’s Gene Pride and Patrick Devereaux advised on the deal.

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MANASSAS, VA. — S.A. Hastings LLC has completed the sale of Hastings Marketplace, a 28.05-acre mixed-use development in Manassas, for $21.6 million. Owings Mills, Md.-based Black Oak Associates has acquired the retail center for $18.1 million, while Richmond American Homes acquired the remaining undeveloped land, which is entitled for commercial and residential use, for $3.5 million. Located at the intersection of Prince William Parkway and Liberia Avenue, the 93,000-square-foot retail center is anchored by a 56,000-square-foot Harris Teeter Food Market and Pharmacy, which opened in last year. The center is currently 73 percent leased and occupied by Harris Teeter, Verizon Wireless and Neibauer Dental Care. Rappaport Retail Brokerage has been retained to lease the remaining space. The undeveloped land is entitled for development of 61 townhomes, 46 single-family homes, eight live/work units, 26 lofts apartments and more than 25,800 square feet of commercial space. Jim Kornick and Matt Clinebell of NorthMarq, along with Michael Gorsage of H&R Retail, represented the seller in the transaction.

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MIFFLINBURG, PA., AND NEW YORK CITY — Marcus & Millichap has arranged the sale of Buffalo Valley Shopping Center, a 73,542-square-foot retail center located in Mifflinburg for $2.83 million. The property was 88 percent leased at the time of closing and most of the tenants had recently renewed their leases. The property traded at a 10.25 percent cap rate. The Marcus & Millichap team of Derrick Dougherty, Mark Taylor and Dean Zang represented the seller and procured the buyer, both undisclosed parties. In addition, Marcus & Millichap's New York City office brokered the sale of a 5,408-square-foot mixed-use property located at 1373 First Ave. in New York City for $2.38 million. The brokerage team included Peter Von Der Ahe, Joseph Koicim and David Lloyd. The buyer and seller were not disclosed.

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LAS VEGAS — CB Richard Ellis has brokered the sale of the more than 57,000-square-foot Shoppes at Canyon Pointe, located at 10800 W. Charleston Boulevard in Las Vegas. Terms of the deal were not disclosed. CBRE’s Charles Moore, Michael Newman and Marlene Fujita represented the seller, General Growth Properties, in its disposition of the 100-percent leased, multi-tenant retail/restaurant complex to Del Mar Partners.

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WEST HOLLYWOOD, CALIF. — Coldwell Banker Commercial WESTMAC has facilitated the $1.95 million sale of a 3,000-square-foot building, located at 8756 Holloway in West Hollywood, to a prominent tanning and skin care company. The three-level building was built in 1946 and completely renovated in 2009. Coldwell Banker Commercial’s T.C. Macker and William Althouse represented the seller in the transaction, and Beitler Commercial’s Daniel Chiprut and Jacques-Henri of Munro Commercial represented the buyer.

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KISSIMMEE AND BONITA SPRINGS, FLA. — Thomas D. Wood & Co. has secured $7.4 million in financing for Dollar General Kissimmee and Bonita Exchange Land. Joe Dear of Thomas D. Wood & Co. arranged a $1.3 million loan for the construction of a build-to-suit, single-tenant retail facility in Kissimmee. Located at 2220 Michigan Ave., the 9,100-square-foot facility will be occupied by Dollar General. The loan has a 75 percent loan-to-value and an 80 percent loan-to-cost. Additionally, Dear secured a $6.1 million loan for Bonita Exchange, a 23.1-acre commercial land site located in Bonita Springs. The loans will be used to refinance existing debt.

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MARLBORO, N.J. — Whole Foods Market has signed a lease to anchor Marlboro Commons, a new shopping center under construction at the intersection of Routes 9 and 520 in Marlboro. Whole Foods will occupy 40,000 square feet of the 105,000-square-foot shopping center, which will be complete in 2012. Bill Lenaz of R.J. Brunelli represented the owner, Pagano Associates, in lease negotiations.

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WAXAHACIE – Waxahachie Crossing shopping center, located near U.S. routes 287 and 77 in Waxahachie, has traded for $15.5 million. The 96,983-square-foot retail property is anchored by Best Buy, Ross Dress for Less and PetSmart. Built in 2009, its shadow anchors include JCPenney and The Home Depot. Craig Fuller and Scott Wiles of Marcus & Millichap’s Cleveland office and Erin Patton of the firm’s Columbus, Ohio office brokered the transaction. Jason Vitorino of the firm’s Dallas office also provided representation.

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GLENDALE, ARIZ. — Marcus & Millichap has negotiated the $3.5 million acquisition of a 14,552-square-foot BevMo! store, located at 6712 West Bell Road in Glendale. The tenant is currently occupying the single-tenant, net-leased property under a sublease from CVS. Marcus & Millichap’s Jamie Medress and Mark Ruble represented the buyer, a limited-liability company, in the transaction.

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