NEW YORK CITY — New York City-based Ariel Property Advisors has negotiated two sales in New York City totaling $1.7 million. A 7,579-square-foot retail property, located at 5048-50 Broadway & 4022 10th Ave., sold for $900,000. Also, a 10-unit multifamily walk-up, located at 100 E. 123rd St., sold for $825,500. The buyers and sellers in both transaction were local investors. Victor Sozio and Michael Tortorici of Ariel Property Advisors represented the sellers in the transactions.
RANCHO MIRAGE, CALIF. — River’s Crossing, a 31,900-square-foot retail centerin Rancho Mirage, has sold to a private Canadian venture for $6.8 million. The center was built in 1991 and is situated on 2.88 acres along Highway 111. It is currently 89 percent occupied. Notable tenants include Ferguson, Goodwill Industries and California Patio. Michael Dyer of Cushman & Wakefield and Dick Bridy of DBI Group represented the all-cash buyer. William B. Asher and Edward B. Hanley of Hanley Investment Group represented the seller, Highpoint Capital, LLC.
MIAMI — A 15,975-square-foot retail property, located at 801 Washington Ave. in Miami, has been sold for $13.15 million. The property is fully leased to tenants including Diesel Jeans, Dash Miami, LF Sportswear, OndadeMar and Solstice Sunglass Boutique. Drew Kristol and Kirk Olson of Marcus & Millichap's Miami office represented the seller, 801 Washington LLC, in the transaction. Adelaide Polsinelli and Kyle Woodruff of the firm's New York City office represented the buyer, a New York City-based investor in a 1031 exchange.
HILLIARD, OHIO — A 128,875-square-foot Garden Ridge, a crafting and home decorating store, has sold for $5.5 million in Hilliard. Dan Yozwiak, Antoine Matthews and John Reehil of Marcus & Millichap's Columbus office represented the seller, an undisclosed limited liability company, in the transaction. Graden Ridge is located at 3599 Park Mill Run Dr.
DENVER — Unique Properties has sold a free-standing retail building in Denver to Matthew Morris Salon for $1,110,000, or $178.31 per square foot. The 6,225-square-foot building is situated on a 15,246-square-foot lot that also features off-street parking. It is located at 26 W. Ellsworth Ave. Matthew Morris plans to renovate the building and open its salon by summer 2012. The seller, Regas Christou, was represented by Tim Finholm and Sam Leger of Unique Properties.
MIAMI — Miami Avenue Holding has sold five retail spaces, a 6,000-square-foot office and an 18,000-square-foot lot, located at 1036 & 1040 S. Miami Ave. and 21 SW 11th St. in Miami, for $7.5 million. Fabio Faerman of Miami-based Fortunue Commercial Division represented both the seller and the undisclosed buyer in the transaction.
DES MOINES — Dunkin' Donuts has signed a store development agreement with a franchisee team that includes siblings Lori Kelderman High and Jeff Kelderman, for eight new restaurants in Des Moines. Two restaurants are slated to open in 2013 and the remainder by 2016. Franchise opportunities are still available in Iowa, specifically in Sioux City and Ottawa as well as Lincoln and Omaha, Neb.
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.