WORTHINGTON, OHIO — Worthington Square Venture has broken ground for the redevelopment of the 22-acre The Shops at Worthington Place, located at the intersection of High Street and Wilson Bridge Road in Worthington. The property will include a 168,000-square-foot shopping center, three outparcels and a separate 67,000-square-foot Kroger Fresh Fare. Completion is slated for the second quarter of 2012.
RICHMOND, IND. — Quantum Real Estate Advisors has arranged the $4.77 million sale of a 30,983-square-foot, single-tenant Best Buy located in Richmond Village Shopping Center in Richmond. Chad Firsel of Quantum represented the buyer and the seller in the transaction.
CHERRY HILL, N.J. — Max Span Real Estate & Auction Co. has sold a 54,000-square-foot retail center in Cherry Hill for $1.68 million at auction. The property is located at the Routes 70 and 154 intersection and includes a former Pathmark supermarket and has 1,109 feet of frontage, 290 parking spaces and six entrances.
LAS VEGAS – An auto dealership situated at 6770 Redwood Street in Las Vegas has been sold to B.G.D., LLC, for $18.5 million. The 86,270-square-foot dealership also contained a service and collision center. Grant Traub of Colliers International represented the seller, Thomas Saitta and Alice M. Saitta, who are trustees of the Saitta Family Trust.
GAYLORD, MICH. — The 189,000-square-foot Pine Ridge Square in Gaylord has been purchased by Birmingham, Mich.-based Robert B. Aikens & Associates. Major tenants include Big Lot's, Dunham's, Bath & Body Works, GNC, Maurice's, Hobby Lobby and Payless Shoe Source.
HUNTINGTON, N.Y. — Toronto-based RioCan Holdings has purchased a Class A, 116,221-square-foot shopping center for $40.2 million in Huntington on Long Island. The property is 100 percent occupied anchored by Stop & Shop and Best Buy. Kris Cooper, Margaret Caldwell, Dave Wojciechowski and Dan Zatloukal of Jones Lang LaSalle brokered the transaction.
NEWARK, N.J. — Marcus & Millichap has facilitated the $3.3 million sale of the 12,000-square-foot McCarter Plaza in Newark. Ben Sgambati and Alan Cafiero of Marcus & Millichap’s New Jersey office represented the seller ad procured the buyer in the transaction. McCarter Plaza sits on 1.03 acres on Route 21 and is 100 percent leased.
AUSTIN — New York-based ATCO Properties & Management has purchased the 99,000-square-foot Crossroads Center in Austin for $14.25 million. The shopping center is 70 percent leased to tenants Bennihana, Chili’s and Cycle Gear. Lance Morris of The Weitzman Group represented Crossroads and Ryder Jeans of Weitzman represented ATCO in the transaction. Crossroads is the latest purchase in ATCO’s City Center Real Estate Joint Venture Program.
HOUSTON — Houston-based Whitestone REIT has sold the 20,607-square-foot Greens Road Plaza in northeast Houston for $1.75 million in an all-cash transaction. Whitestone expects to reinvest the proceeds in acquisitions of Community Centered Properties in Texas, Arizona and Illinois.
NEW YORK CITY — Ghurka Boutique, a leather luggage and handbag retailer, has leased 1,140 square feet of retail space at 781 Fifth Ave. in the Plaza District. Robert K. Futterman & Associates’ Rob Cohen, Peter Whitenack and Jackie Totolo represented the landlord, The Sherry-Netherland. Steven Orfali of the Orfali Group represented Ghurka. The boutique will occupy 915 square feet on the ground floor and 225 square feet in the basement.
