DOUGLASVILLE, GA. — Phoenix-based Cole Real Estate Investments has acquired a 222,500-square-foot Wal-Mart Supercenter and a 129,500-square-foot Sam's Club, located on Concourse Parkway in Douglasville, for $32.8 million. The adjacent properties are both subject to individual 20-year leases scheduled to expire in 2019, with six, 5-year renewal options. Craig Johnson of Marcus & Millichap's Atlanta office along with Jeffrey Piccinelli of Cole represented the buyer. Johnson also represented the seller, a California-based investor.
LOS ANGELES — West Elm, a division of Williams Sonoma, has leased a 10,909-square-foot, single-tenant building at 8366 Beverly Blvd. in Los Angeles. The 15-year lease is valued at $6.5 million. Epsteen & Associates represented West Elm in the transaction. David Ickovics and David Aschkenasy of Commercial Asset Group represented the landlord, Brand Art LLC. CAG will also provide property management services to the building.
SAN DIEGO – The Torrey Corner Shopping Center has sold to 3 Tier Investments, LLC, for $6.1 million. Located in the San Diego submarket of Carmel Valley, the 13,344-square-foot Torrey Corner is anchored by Bank of America, Prudential Real Estate and Massage Envy, among others. Cassidy Turley’s Andrew Peterson, Bruce Schiff, Phil Lyons and Chad Iafrate represented the seller, Sorrento Hills Marketplace 2, LLC, in the transaction. The buyer represented itself.
MADISON, MISS. — CBL & Associates Properties has started construction on the 83,000-square-foot Phase II of The Forum at Grandview, located on Interstate 55 in Madison. Anchors of Phase II include ULTA, Homegoods, Petco and a national arts and crafts retailer along with 14,000 square feet of specialty stores. Completion is slated for summer 2012.
RICHMOND, VA. — The 19,276-square-foot Downtown Capital Ale House buildings, located at 619 and 623 E. Main St. in Richmond, have been purchased by Fezzer Holdings for $1.53 million. Bruce Bigger and Lee Warfield of Cushman & Wakefield/Thalhimer's Richmond office represented the seller, Super Duper Properties, in the transaction.
MONROE, MICH. — Phoenix-based Cole Real Estate Investments has acquired the 141,935-square-foot Telegraph Plaza Portfolio, a three-property portfolio located in Monroe, for $12.9 million. Ashish Vakhariya of Marcus & Millichap's Detroit office represented the seller, a national developer, and worked with Scott Holmes of Cole in closing the transaction.
AVON, OHIO — Luttner Real Estate Investments Services has arranged the $1.07 million sale of an Arby's ground lease in Avon. The property has 17.5 years remaining on the initial 20-year lease. Mark Luttner of Luttner's Chicago office represented the seller, The Richard E. Jacobs Group, and procured the buyer, a California-based private 1031 investor.
BEDFORD PARK, ILL. — Taphandles has signed a lease for a 52,344-square-foot industrial building, located at 742- S. Meade Ave. in Bedford Park. Brian Vanosky of Lee & Associates' Chicago office represented the landlord, Cobalt Capital Partners, and Mike Mangan of CB Richard Ellis' Chicago office represented the tenant in the transaction.
ATTLEBORO, MASS. — Boston-based EagleBridge Capital has arranged $2 million in acquisition/permanent mortgage financing for a free-standing building leased to Goodwill Industries in Attleboro. EagleBridge’s Brian Sheehan and Ted Sidel arranged the loan for the 15,950-square-foot facility at 115 Washington St.
GARLAND — Firewheel Market, a specialty retail center at the front of Firewheel Town Center mall in Garland, has added eight new tenants. Steve Gray and Grant Gold of The Weitzman Group handled negotiations for the landlord. The new tenants include: Firewheel Salons — 7,772 square feet Massage Envy — 3,524 square feet AAA Texas — 3,424 square feet (Weitzman’s Earl Harris represented AAA Texas) Dallas Metroplex Endodontics — 1,912 square feet Batteries Plus — 1,577 square feet Granny’s Playhouse — 1,482 square feet Merle Norman — 1,324 square feet (Weitzman’s Christopher Young represented Merle Norman) Al’s Formal Wear — 1,250 square feet (Weitzman’s Gold represented Al’s Formal Wear)