HELENA, MONT. — On behalf of the developer, The Velmeir Cos., McShane Construction Co. has completed a 14,700-square-foot CVS/pharmacy store at 3095 N. Montana Ave. in Helena. The interior of the single-story retail facility includes retail space, a professional one-hour photo and a fully operational pharmacy featuring a double drive-thru. Detroit-based NORR Architects Engineers Planners was the project designer.
RANCHO CUCAMONGA, CALIF. — Stan Johnson Co. has completed the $3.3 million sale of a 0.76-acre parcel, located at 12035 Foothill Blvd. in Rancho Cucamonga and 100 percent leased by Comerica Bank, to a foreign private investor. The property is situated within the Victoria Commons master-planned project and within 1/8 of a mile from Victoria Gardens regional town center. Stan Johnson’s Brandon Duff and Brad Feller represented the seller, a California private partnership, in the transaction.
ALEXANDRIA, LA. — Walker & Dunlop has provided an $11 million loan secured by MacArthur Village shopping center in Alexandria. The 177,646-square-foot retail center is occupied by Kroger Signature Foodstore, Staples, Texas Roadhouse and Capital One. The loan was structured with a 10-year term and a 30-year amortization. Andrew Coleman and Stephen Farnsworth led the Walker & Dunlop team in the transaction. The borrower was Stirling Properties.
WICHITA, KAN. — The Hampshire Companies has completed the disposition of Marina Lakes Shopping Center in Wichita. Situated on 13.5 acres at 2021 N. Amidon, the 172,041-square-foot retail center is occupied by Radio Shack, Dollar General and Payless Shoes. The buyer, Hobb Partners, plans to redevelop the vacant anchor site into a Walmart Neighborhood grocery store. Hobb Partners, an entity formed by Overland Park, Kan.-based Henzlik-Oliver Real Estate Cos., bought the retail center for an undisclosed price. Tyler Oliver of Henzlik-Oliver Real Estate Cos. represented the buyer in the transaction.
CANTON AND FLINT, MICH. — NAI Farbman has brokered two retail sales totaling 79,000 square feet in Michigan. In the first transaction, Paul DeBono of NAI Farbman represented as receiver for CSS-Ann Arbor Canton LLC in the sale of a 31,000-square-foot property, located at 40150 Ford Road in Canton, to Robert Jacobs. In the second transaction, DeBono represented Comerica in the sale of 48,000 square feet at 3477 Beecher Road in Flint to MGR Inc., which was represented by NAI Farbman's David Lautenbach. Additional details of the transactions were not released.
NEW YORK CITY — A portfolio of former AJ Wright retail properties had gone to market. The properties are located in 11 states, primarily in the Eastern United States. New York City-based Keen Realty Advisors will represent the portfolio's owner, TJC Companies.
CAPE CORAL, FLA. — Plaza Advisors represented an undisclosed seller in the disposition of a Walgreen's location in Cape Coral. Located at the intersection of Pine Island and Burnt Store roads, the 14,820-square-foot retail property sold for $5.15 million. Anthony Blanco, Jim Michalak and Lenard Williams of Plaza Advisors represented the seller; Cassidy Turley BRE Commercial represented the buyer, a private individual, in the transaction.
CLEARWATER, FLA. — Espacio USA is developing The Strand, a mixed-use condominium project in downtown Clearwater. Located at 1101 Cleveland St., the property will offer 89 residential units and 21,500 square feet of customizable retail and office space. The commercial space is available in 12 individual units, ranging in size from 500 to 2,686 square feet. The Strand is slated to open in 2012.
TEANECK, N.J. — Marcus & Millichap has brokered the sale of a 42,047-square-foot Stop & Shop located in Teaneck for $10.25 million. The building is situated on 3.8 acres at 665 American Legion Drive. Stop & Shop occupies the building under a 20-year, triple-net lease, which has 8 years remaining on it with four 5-year renewal options. The Marcus & Millichap team of Bob Horvath, Todd Tremblay and Mike Lombardi represented the seller, FW Teaneck LLC, and procured the buyer, H&R LLC.
CINCINNATI — Union Township Clermont County CIC Inc. of Ohio has acquired bigg's Place Mall in Cincinnati for $7.5 million. Situated on 40.62 acres, the 402,786-square-foot retail center is occupied by Hobby Lobby, Regency Beauty, Original Mattress Factory, Danberry Cinemas and Rincon Mexican Restaurant. At the time of acquisition, the property was 43 percent occupied. Steve Timmel, Jeff Johnston and Chris Prosser of Colliers International represented the seller, JPMCC 2006-LDP6 EASTGATE BOULEVARD LLC, in the transaction.