Retail

M&M BROKERS $15.2M WALGREENS PORTFOLIO SALE IN ILL.

by admin June 7, 2011

ILLINOIS — Marcus & Millichap has completed the sale of three Walgreens properties in Illinois for a total of $15.18 million. The properties are located at 347 E. 95th St. in Chicago, 35613 State Route 59 in Warrenville and 1080 N. Seventh St. in Rochelle. John Nuzman of Marcus & Millichap's Detroit office represented the seller, a limited liability company. David Thurston of the firm's New Jersey office, represented the buyer, a private investor. John Przybyla of the firm's Chicago office provided assistance. Geoffrey Harris of the Phoenix office of Marcus & Millichap Capital Corp. arranged acquisition financing.

June 7, 2011

CASEY'S PURCHASES 22 KUM & GO STORES IN IOWA

by admin June 7, 2011

IOWA — Casey's General Stores has agreed to purchase 22 Kum & Go convenience stores from the company for an undisclosed amount. The properties, all of which are in Iowa, are located primarily in rural parts of the state. They will be rebranded to Casey's once the deal closes, which is expected in July.

June 7, 2011

Retail Texas

AUTOZONE SELLS IN WEST ODESSA

by admin June 7, 2011

WEST ODESSA — A 6,446-square-foot AutoZone, a single-tenant, net-leased property, has sold in West Odessa. The buyer, a limited liability company, was secured and represented by Ray Germain, an investment specialist in Marcus & Millichap's Las Vegas office. The retail property is located at 420 N. County Rd.

June 7, 2011

Retail Texas

DRIVETIME PURCHASES FORMER BECK & MASTEN CAR DEALERSHIP

by admin June 7, 2011

HOUSTON — DriveTime has purchased the former Beck & Masten car dealership at 11205 Gulf Freeway in Houston. The 8.8-acre tract included a 22,339-square-foot showroom and maintenance facility. The buyer was represented by John Ferruzzo and Stephen Tou of NAI Houston. Christopher Klein of Colliers International represented the seller, Barnett Realty, Inc.

June 7, 2011

Retail Southeast

COGENT ACQUIRES 12 CONVENIENCE STORES & GAS STATIONS

by admin June 6, 2011

CHARLOTTESEVILLE, VA. — Dallas-based The Cogent Group has acquired 12 convenience stores and gas stations, totaling 21 acres in Charlottesville, all of which are leased to Charlottesville-based Virginia Oil Co. The purchase was part of a simultaneous transaction among The Cogent Group, VPS Convenience Store Group (an affiliate of Sun Capital Partners) and Virginia Oil Co. In conjunction with VPS's acquisition of Virginia Oil Co., The Cogent Group acquired Virginia Oil's fee-owned properties through a concurrent sale-leaseback transaction.

June 6, 2011

Retail Southeast

STILES TO DEVELOP WEST MARINE FLAGSHIP STORE

by admin June 6, 2011

FORT LAUDERDALE, FLA. — Stiles has been selected to build the new 50,000-square-foot flagship store for West Marine, to be located at 2401 South Andrews Ave. in Fort Lauderdale. This will be West Marine's largest store. In January 2011, Stiles acquired the land with construction financing provided by Wells Fargo and has leased the space to West Marine on a long-term basis.

June 6, 2011

Northeast Retail

JV BUYS FORMER MASS. BORDERS FOR $4 MILLION

by admin June 6, 2011

BRAINTREE, MASS. — Here Comes There Goes, a joint venture between Dinosaur Capital Partners and The Grossman Cos., has purchased a former Borders, located at 255 Grossman Dr. in Braintree, from Zaremba Group for $4 million. Andrew Bonica and Michael Hotarek of Newton, Mass.-based Eastern Retail Properties represented the buyer.

June 6, 2011

Midwest Restaurant

INDIANA ARBY'S SELLS FOR $1.34M

by admin June 6, 2011

MISHAWAKA, IND. — Syndicated Equities has arranged the sale of a 3,592-square-foot, single-tenant property net-leased to Arby's in Mishawaka. The property was purchased by a Florida-based investor from an Indiana-based real estate developer for $1.34 million. Isaac Metzger of Syndicated Equities represented both parties in the deal.

June 6, 2011

Midwest Restaurant

SECOND FAMOUS TACO OPENS IN EAST LANSING

by admin June 6, 2011

EAST LANSING, MICH. — Mexican restaurant Famous Taco has opened its second location. The East Lansing restaurant's second location is within Haslett Village Square shopping center at the corner of Haslett and Marsh Road. The new restaurant totals 1,565 square feet. Its original location is on West Saginaw Highway. CB Richard Ellis provided landlord representation in the lease and manages Haslett Village.

June 6, 2011

Midwest Retail

NEW AUTO TECH COMING TO ILL.

by admin June 3, 2011

HUNTLEY, ILL. — Crystal Lake, Ill.-based Gallant Building Solutions has been selected to build a new 8,000-square-foot Auto Tech auto service center in Huntley. The project will be Auto Tech's first newly built location. Completion is slated for the fall.

June 3, 2011

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