SMYRNA, TENN. — Marcus & Millichap has arranged the $3.32 million sale of the 16,275-square-foot Shoppes at Movie Row, a strip center located at 900 Grammer Ln. in Smyrna. Joseph Massa of Marcus & Millichap's Nashville, Tenn., office represented the seller, McMinnville, Tenn.-based Investment Partners, in the transaction and procured the undisclosed buyer.
RICHMOND, VA. — A 9,100-square-foot Dollar General, located at 3301 Jefferson Davis Hwy. in Richmond, has been sold for $1.34 million. Andrew Fallon of Calkain Cos.' Bethesda, Md., office represented the seller, the developer, in the transaction. Vienna, Va.-based Long & Foster Commercial represented the buyer.
MALDEN, MASS. — Commercial Street Venture has sold Plaza 188, a 71,462-square-foot, grocery-anchored center in Maiden for $15.5 million. David Ros, Trey Agnew, Doug Jacoby and Scott Dragos of NAI Hunneman's Boston office represented Commercial Street Venture in the transaction. They also procured the buyer, Plaza 188 Association.
HOUSTON — NorthMarq Capital has arranged first mortgage financing for the 117,893-square-foot The Shops of Hilshire Village, a shopping center located in Houston. The center's major tenants include Kroger, Walgreens and Blockbuster. Warren Hitchcock and Kristi Johnson of NorthMarq's Houston office arranged the 10-year loan with a 30-year amortization schedule through Guardian Life.
SAVANNAH, GA. — Mount Pleasant, S.C.-based Ziff Properties has purchased the 38,000-square-foot Berwick Marketplace, located at 5710 Ogeechee Rd. in Savannah. The sale price was undisclosed. Kroger shadow-anchors the center, which includes Fuddruckers, Pizza Hut, Subway and a UPS Store. The buyer was self-represented in the transaction by Christian Chamblee and Shaun Payne, as well as Maxwell Penn of Colliers International's Savannah office.
RICHMOND, VA. — Cleveland-based Cooper Group has arranged the $2.93 million sale of a 10,800-square-foot CVS/pharmacy, located at 5001 Forest Hill Ave. in Richmond. CVS is on a 20-year triple net lease with approximately 7.5 years of the original term remaining. Dan Cooper represented the seller, an East Coast-based private company, in the transaction and procured the buyer, a Texas-based private group.
COVINGTON, GA. — Marcus & Millichap has negotiated the $1.28 million sale of a 10,500-square-foot retail property, located at 340 Old Oxford Rd. in Covington. The property is net-leased to Sunbelt Rentals. Kevin Yaryan of Marcus & Millichap's Orlando, Fla., office, along with Al Savage and John Leonard of the firm's Atlanta office represented the seller, a private investor, in the transaction.
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.