CHARLOTTE, N.C. — A joint venture between Charlotte-based Ferncroft Capital and Dallas-based Crow Holdings has purchased the 102,000-square-foot Northlake Commons Shopping Center, located at 9310 Center Lake Dr. in Charlotte, for $22 million. Tenants include Chick-fil-A, Chili's, Olive Garden, On The Border, Red Robin, Panera Bread, AT&T, Sprint, Moe's Southwest Grill, Shane's Rib Shack, Men's Wearhouse and Fox and Hound. New South Properties has been retained to lease and manage the center.
ORLANDO, FLA. — CBRE has arranged the $1.8 million sale of the 45,370-square-foot Washington Shores Plaza, located at 2100 Bruton Blvd. in Orlando. CBRE's Orlando office represented the seller, Berkadia, in the REO transaction. The buyer was CRP II – Washington Shores, an entity affiliated with Tampa, Fla.-based Community Reinvestment Partners II, a private equity fund sponsored by Forge Capital Partners and DeBartolo Development. The center is currently 39 percent leased, however, the purchaser secured a 22,500-square-foot lease with Save-A-Lot during the due diligence period.
MIDDLETOWN, N.Y. — Hobby Lobby, an arts and crafts retailer, opened a 56,491-square-foot store at Wallkill Plaza, located on the southeast corner of Route 211 East and Carpenter Avenue in Middletown, N.Y. David Sternschuss of Welco Realty Inc.'s New Rochelle, N.Y. office represented Hobby Lobby. Brixmor Property Group, the owner of Wallkill Plaza, was represented by Laura Parke-Carson of Bixmor.
MISSION — FREEBIRDS World Burrito is opening a new 2,705-square-foot restaurant, located at 2521 E. 83, Ste. 600 in Mission. Concept owner, Emeryville, Calif.-based Tavistock Restaurants, operates 56 FREEBIRDS restaurants in Texas and California. The restaurant will be open to the public on Nov. 10.
SECAUCUS, N.J. — Discount retailer Syms Corp. and its subsidiary Filene's Basement have filed for Chapter 11 bankruptcy protection in Delaware. The retailer plans to liquidate the two chains by the end of the year, citing increased competition in the off-price retail industry. The Secaucus, N.J.-based company operates 46 stores under its Syms and Filene's Basement banners, which are located mostly in the eastern U.S. Syms and Filene's basement are seeking court approval for Cushman & Wakefield to assist in the sale of company-owned real estate. The liquidation is expected to run through January.
WATERTOWN, N.Y. — Marcus & Millichap Real Estate Investment Services has completed the $3.2 million sale of Kinney Drugs, an 11,236-square-foot property located at 1304 Washington St. in Watertown, N.Y. Steven Stoehrer and Preet Sabharwal represented the seller, a developer, in the transaction. They also represented the buyer, a private fund manager.
WEST CHESTER, OHIO — Liberty Towne Center, a 22,798-square-foot shopping center in West Chester, Ohio, has sold for $1.3 million. Located at 7206-7240 Towne Center Dr., the center was 60 percent occupied at the time of sale. Rob Taylor and Mike Sullivan of Cassidy Turley's Ohio office represented the seller, Dawn BV LLC. The buyer was a local family trust.
BASTROP — Plano-based Rent-A-Center has opened a 6,000-square-foot showroom, located at 67 Loop 150 W. in Bastrop. The new store marks the business' 281st location in Texas. San Antonio-based GLM Construction built the store, which was designed by Dallas-based Dimension Group.
CORAL SPRINGS, FLA. — The 21,200-square-foot Brookside Square, a Publix-shadow anchored retail property located at 10611 Wiles Rd. in Coral Springs, has sold for $2.42 million. Barry Wolfe of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, an individual/personal trust, in the transaction and procured the buyer, a limited liability company.
GASTONIA, N.C. — Calkain Cos. has arranged the $2.3 million sale of a 10,900-square-foot retail property, located in Gastonia. Andrew Fallon of Calkain Cos.' Bethesda, Md., office represented the buyer, a mid-Atlantic real estate investor, in the transaction. Simon Jonna and Raymond Jonna of Marcus & Millichap represented the seller. The property is leased to Rite Aid under a long-term, triple net lease.