TUCSCON, ARIZ. – The 11,053-square-foot Copper Plaza shopping center has sold to 3122 N. Campbell Ave. LLC for $1.38 million. Copper Plaza was built in 2005, and was 75 percent occupied at the time of sale. CBRE’s Tim Healy and Robert DeLaney represented the buyer. CBRE’s Mike Chapman and Shannon Murphy represented the seller, Great Western Bank, which acquired the property through foreclosure.
HOLLY SPRINGS, N.C. — Marcus & Millichap has completed the sale of Sunset Lake Commons, an approximately 88,000-square-foot shopping center located in Holly Springs, for $12.82 million. Constructed in 2005 and located at 5277 Sunset Lake Road, the center is anchored by a 48,000-square-foot Harris Teeter, which has 14.5 years remaining on its ground lease. Additional tenants include Anytime Fitness, Click Computers, Great Clips, Rudino's Pizzeria, Ship On Site, The Paper Company and Wachovia. The center was 98 percent occupied at the time of closing. Sonny Molloy of Marcus & Millichap's Atlanta office and Brad Nathanson of the firm's Philadelphia office represented both undisclosed parties in the transaction.
PLYMOUTH, MINN. — Regency Centers has purchased the 125,213-square-foot Rockridge Center in Plymouth from Hempel Properties for $20.5 million. An 89,219-square-foot Cub Foods anchors the shopping center, which is currently 99 percent leased to tenants such as Caribou Coffee, Qdoba Mexican Grill, Papa Murphy's, Subway and Fantastic Sam's. Joe Girardi from Mid-America Real Estate Corp. represented the buyer.
COLUMBUS, OHIO — Cleveland-based The Cooper Commercial Investment Group has arranged the $5.5 million sale of the 34,316-square-foot The Neighborhood Shoppes at Polaris, a retail center located at 8457-8497 and 8491 Sancus Blvd. in Columbus. Dan Cooper represented Columbus-based Sancus Retail Partners II, the seller, in the transaction and procured the buyer, a Texas-based private group.
TOMBALL — Weingarten Realty has awarded Cadence McShane Construction Co. the construction assignment to complete a series of new retail stores and expanded sitework in the Tomball Marketplace Shopping Center at the intersection of SH 249 and FM 2920 in Tomball. Cadence McShane’s assignment includes the comprehensive infrastructure for a new Kohl’s and the construction of two additional retail facilities. These include a 13,200-square-foot facility with a tiltwall exterior and glass storefronts and a 25,000-square-foot facility for a national retailer. These two developments are projected to be complete this October. Weingarten Realty has also awarded Houston-based CDA Architects to provide architectural services for the development.
ROCK HILL, S.C. — Carter has negotiated the sale of a 132,929-square-foot shopping center, located on Dave Lyle Boulevard in Rock Hill. The property contains Kohl's and Hobby Lobby. Terms of the sale were undisclosed, but the asking price was $12.5 million. Drew Fleming and Mark Joines of the firm's Atlanta office represented the undisclosed seller in the transaction. Los Angeles-based The Royston Group represented the undisclosed buyer.
DETROIT — Whole Foods has signed a 20,000-square-foot lease to build a new store at the intersection of Mack Avenue and John R Street in Detroit. Completion is slated for late 2012 or early 2013. The landlord is Palm Beach Gardens, Fla.-based Ram Real Estate.
MIDDLETOWN and UPPER SADDLE RIVER, N.J. — The Goldstein Group has brokered the sale of two retail properties in New Jersey: Shiki Realty Co., Inc. has sold a former Shiki Restaurant to D&D Management for $2.3 million. The 6,800-square-foot retail building is located at 1735 Route 35 in Middletown. Mark Handwerker and Chuck Lanyard of The Goldstein Group represented both buyer and seller in the transaction. D&D plans to convert the space into a funeral home. Markland 145 has purchased the former Ramsey Chevrolet dealership from Zorm 2009 for $2.65 million. The 17,000-square-foot free-standing building is located at 145 Route 17 in Upper Saddle River. Lew Finkelstein of The Goldstein Group represented Zorm 2009 in the transaction.
RICHMOND, KY. — Developers Diversified Realty Group has sold the 134,701-square-foot Carriage Gate Shopping Center, located at 833-847 Eastern Bypass in Richmond, to The Rouse Cos. for an undisclosed amount. Hobby Lobby, Dunham's Sports, The Office Depot, Dollar Tree and Cato anchor the recently renovated center, which it currently 92.5 percent leased. Rebecca Wells of Cassidy Turley's Indianapolis office and Robert Taylor, Jr., of the firm's Cincinnati office represented the seller and Steve Pewitt of Commercial Real Estate Advisors represented the buyer.
ROSWELL, GA. — The Shopping Center Group has arranged the $5.3 million sale of the 15,126-square-foot Mabry Village, located at the intersection of State Route 92 and Mabry Road in Roswell. The center is 100 percent leased to Starbucks Coffee, FedEx Office, Five Guys Burgers and Fries, Wireless Zone and Prudential Georgia Realty. Daniel Earles of The Shopping Center Group's Tampa, Fla., office represented the seller, an Atlanta-based development company, and Greg Craft of Atlanta-based The Trilogy Group represented the buyer, a Colorado-based private investor.