NORTH RICHLAND HILLS — Fort Worth Community Credit Union has purchased a 4,000-square-foot building located on Davis Boulevard in North Richland Hills. Previously occupied Washington Mutual Bank, the building is situated west of a Target-anchored shopping center with tenants including Starbucks, Radio Shack and Game Stop. Fort Worth Community Credit Union is expected to open this fall. Christopher Gibbons of Venture Commercial represented Fort Worth Community Credit Union in the transaction, while David Levinson of The Retail Connection represented the seller, Inland Western North Richland Hills.
Retail
LAS VEGAS — Colliers International has negotiated the more than $1.95 million purchase of a 23,000-square-foot retail property, located at 3030 E. Sahara Ave. in Las Vegas. The brokerage firm’s Grant Traub and Keith Cubba represented the buyer, DriveTime Car Sales Co. LLC, in the transaction, and Kevin Higgins of Voit Real Estate Services represented the seller, Bill Haden Inc.
JACKSON, WIS. — Lange Realty, dba Mardon Control Systems, has acquired a 7,200-square-foot industrial facility at Jackson Northwest Industrial Park in Jackson. Platinum Enterprises sold the property, which is located at W208N16975 Center St., for an undisclosed price. Mardon plans to relocate its assembly operations to the new property. James Young of Milwaukee-based Cassidy Turley Barry represented the buyer; Brian Parrish of Dickman Co. represented the seller, in the transaction.
DAYTONA BEACH, FLA. — A 10,981-square-foot CVS in Daytona Beach, located at 101 South Ridgewood Dr., sold for $3.05 million. Craig Lewis Thomas of Marcus & Millichap's Jacksonville office marketed the property on behalf of the seller, a limited liability company, and secured and represented the buyer, an undisclosed individual/personal trust.
TEANECK, N.J. — Marcus & Millichap has completed the sale of a 42,047-square-foot retail center located at 665 American Legion Drive in Teaneck. Constructed in 1961, the building's sole tenant is Stop & Shop, which currently has 8 years remaining on a 20-year, triple-net lease but has four 5-year extension options. The tenant recently completed a $1 million renovation. The Marcus & Millichap team of Bob Horvath, Todd Tremblay and Mike Lombardi represented the seller, FW Teaneck LLC, and procured the buyer, H&R LLC.
CHARLOTTE, N.C. — Tower Place Festival, an 114,876-square-foot community center located at 8700 Pineville Matthews Rd. in Charlotte, sold for $12.7 million. It is 80 percent leased and anchored by a Bally Total Fitness with several other national tenants including Bruegger's Bagels, Empire Beauty Academy and Once Upon A Child. Robert Podewils of the Charlotte-based Divaris Real Estate, represented the seller. The buyer was a New York-based group of private investors.
SOUTHAVEN, MISS. — Myers Tire Supply signed a 55,575-square-foot lease with IDI at Class A business park Airways Distribution Center, Building F, located in Southaven. Myers Tire Supply is in the process of consolidating several regional distribution branches to this location, where they plan to begin operating in May. The price of the lease was undisclosed. Myers Tire Supply was represented by Bobby Daush, Jim Mercer and Patrick Burke of CB Richard Ellis in Memphis, Tenn., and Kevin Malinowski of the CB Richard Ellis Global Corporate Services in Cleveland, Ohio. IDI was represented by Tim Moore.
ANNISTON, ALA.; AND FAYETTEVILLE, N.C. — A $2.1 million loan was secured by a first mortgage on a Winn Dixie in Anniston and a Rite Aid in Fayetteville. The deal was brokered by Jeanne Cronin of White Plains, N.Y.-based Q10 | New York Realty Advisors on behalf of the undisclosed borrower. The loan was placed with a leading commercial bank.
OTTUMWA, IOWA, AND MANSFIELD, OHIO — Cassidy Turley Commercial Real Estate Services' Columbus, Ohio, office has brokered the sale of two Walgreens stores in Iowa and Ohio. New York-based American Realty Capital II has acquired 327 West Fourth Street in Ottumwa for $4.3 million and 1000 West Park Avenue in Mansfield for $4.69 million. Zane Fry, Micha Bitton and Kevin James of Cassidy Turley represented the undisclosed New York-based seller in the transaction.
HOUSTON — Sundance Cinemas, The Cordish Companies and the City of Houston have announced that a lease has been signed for the former Angelika center space at Bayou Place in the theatre district of downtown Houston. Sundance expects extensive refurbishment work to begin immediately on the eight-screen complex with a target opening date set for November. Sundance Cinemas Houston will offer specialized film programming culled from film festivals and the best in general release. The venue will offer drinking and dining, all reserved seating, digital stereo sound and presentation, filmmaker screenings and exclusive events. Sundance Cinemas Houston will be the third of its kind, joining Sundance Cinemas in San Francisco and Madison, Wisc.