NORTH LAS VEGAS — TNP Strategic Retail Trust has sold a land parcel at Craig Promenade in North Las Vegas to a private entity. Craig Promenade is a 109,250-square-feet retail center that was built in 2005 and purchased by TNP Strategic Retail Trust in March 2011. TNP intends to use the proceeds from the Popeyes land parcel sale to purchase Topaz, a Hesperia, Calif., center that is anchored by Fresh & Easy, through a 1031 Exchange.
HAVANA, FLA. — Marcus & Millichap has brokered the $1.55 million sale of the 35,416-square-foot Green Acres Shopping Center, located at 801 North Main St. in Havana. Leon Brockmeier of Marcus & Millichap's Tampa office and Patrick O'Halloran of the Atlanta office represented the seller, a Tallahassee, Fla.-based limited liability company. Evan Halkias and Michael Marks of the Chicago Downtown office represented the Indiana-based buyer.
BALLWIN, MO. — Fairview Heights, Ill.-based IMPACT Strategies has completed the renovation and build-out of a $6 million, 50,000-square-foot West County Nissan dealership, located on Manchester Road in Ballwin. The owners moved the dealership from Ellisville to the new location.
MANSFIELD — Arch-Con Construction has recently broke ground on a 12,000-square-foot multi-tenant retail center at Hwy. 287 at FM 157 in Mansfield for Pittsburgh-based Kossman Development Co. The retail center is part of a planned 400,000-square-foot retail development. The retail center is slated to be finished in December.
NEW YORK CITY — A joint venture of SL Green and Wharton Acquisitions has purchased a 15,000-square-foot retail property at 1552 Broadway from the Riese Org. for $136.55 million. The property, known as the I. Miller Building, is four stories and houses a four-story TGI Friday’s and two billboard spaces. The Jones Lang LaSalle team of Jon Caplan, Richard Baxter, Ron Cohen and Scott Latham handled the transaction.
NEW YORK CITY — Walgreens has renewed its lease on the ground floor of the Empire State Building, and exchanged 10,000 square feet of retail space on the concourse level to 10,000 square feet on the second floor near the Observatory exit elevators. The all-glass second floor store is slated for a first quarter 2012 completion. Walgreens’ lease in the Empire State Building is for a 15-year term and totals 18,818 square feet. The vacated space on the concourse level is expected to house a fitness center. Andrew Goldberg, Eric Gelber and Matt Chmielecki represented the landlord, W&H Properties, in house for both the lease renewal and lease reconfiguration.
WILMINGTON, N.C. — Renovations have been completed for the 104,380-square-foot Market Plaza Shopping Center, located at Market Street and Kerr Avenue in Wilmington. The $1 million improvements included updated facade renovations, new parking lot lighting, parking lot resurfacing and two pylon signs. The Wilmington Development Co. handled construction management, and Theys Construction Co. was the general contractor for the project.
CLEVELAND AND CANTON, OHIO, AND INDIANAPOLIS — Steve Hryszko of CB Richard Ellis' Self-Storage Advisory Group's Cleveland office has negotiated the sale of a self-storage portfolio, containing five properties in Canton, five properties in Cleveland and eight properties in Indianapolis, in an off-market transaction. The facilities total 7,870 storage units. Hryszko represented the buyer, a joint venture between Flagship Investment Group and Kayne Anderson Real Estate Advisors. The seller was U Store It Self-Storage Facilities.
GARDEN GROVE, CALIF. – The 19,713-square-foot Euclid Plaza retail property has sold to the Don Phan and Elizabeth Revocable Trust for $4.2 million. Humming Realty’s James Tran represented the buyer in this all-cash transaction. Tom Nguyen from NAI Capital’s Orange County office represented the seller, The Edward M. Liu & Rong Hwa Liu Trust.
KANSAS CITY, MO. — Hunt Midwest Real Estate Development and The R.H. Johnson Co. have started construction on a 13,500-square-foot build-to-suit building for PETCO in the North Oak Village Shopping Center, located at 600 NE Vivion Rd. in Kansas City. Chuck Zoog of The R.H. Johnson Co. represented both the tenant and the landlord in the lease transaction. The new PETCO store will replace the current store on 2600 Burlington in Kansas City and is scheduled to open in December.