MADISON, ALA. — GBT Realty Corp. has acquired a 28-acre land parcel at U.S. Highway 72 near Wall Triana Highway in Madison for $6.3 million. The company plans to develop The Shoppes of Madison on the site. The retail center will include a 135,000-square-foot Target and 125,000 square feet of additional retail space. Completion is scheduled for spring 2012.
HOUSTON — A site located at 22420 State Hwy. 249 in Houston that includes a vacant 54,768-square-foot Walmart facility has traded hands. Kiss Investment has sold the 4.67-acre site to P.S. Misstex, LTD, for an undisclosed amount. David Lee, Adam Ross and Courtney Carnahan of Transwestern represented P.S. Misstex, LTD, and Greg DeGeurin of DeGeurin Realty represented Kiss Investment.
MANCELONA, MICH. — Friedman Integrated Real Estate Solutions has negotiated the sale of a retail property, which is located at 611 N. Williams St. in Mancelona. Land Holdings LLC sold the 5,797-square-foot building to Midwest Properties LLC for an undisclosed price. Paul Feldman of Friedman represented the seller in the transaction.
HAMBURG, PA. — The grand opening has been held for Tilden Ridge Shopping Center, a 400,000-square-foot regional retail property located in Hamburg. Anchors at the center include Walmart and Lowe's Home Improvement Warehouse. Occupancy was 98 percent at the grand opening. The property is located at the intersection of Routes 61 and 78, across the street from a 250,000-square-foot Cabela's. West Conshohocken, Pa.-based Ironwood Property Group developed the property, and Metro Commercial Real Estate is leasing it.
SAN DIEGO — Capital Real Estate Investments has brokered the $4.25 million sale of the 30,625-square-foot Factory 2-U Shopping Center, located at 157-199 Virgina Ave. in the San Ysidro part of San Diego. The deal includes the assumption of $3.4 million of the first trust deed from San Diego County Credit Union. Capital Real Estate Investments’ Justin Earley and Matt LoPiccolo represented the buyer, NJ Units LLC, in the transaction, and LoPiccolo represented the seller, Tom E. Dixon Trust. The one-story strip center was constructed in 1971.
ROSEDALE, MD. — KLNB Retail Investment Sales has brokered the sale of a retail property in Rosedale. Located at 8815 Yellow Brick Road, the 7,654-square-foot property was purchase by an undisclosed buyer for $3.29 million or $431 per square foot. The building is fully occupied by Bridgestone Retail Operations LLC, which utilizes the property to operate its automotive tire retail operations. Gil Neuman of KLNB represented the buyer; EXP Realty Advisors represented the seller, SB Rosedale 408 LLC, in the 1031 all-cash transaction.
CLINTONVILLE, WIS. — The Redmond Company has been selected to construction a 13,650-square-foot retail building at the corner of Main and Madison streets in Clintonville. Occupied by Walgreens, the retail building will include a tower element, awnings, polished concrete floors, exposed ceilings and a customer-centric format.
LOVELAND, COLO. — Golden Corral will be opening an 11,270-square-foot establishment at Van de Water, McWhinney’s 370-acre mixed-use development located at Highway 34 and Sculpture Drive in Loveland. Situated directly across from Kohl’s department store, the family-friendly buffet and grill restaurant will be able to accommodate 398 guests when doors open in August.
CAPE CORAL, FLA. — Fort Myers, Fla.-based J. L. Wallace has broken ground for the construction of a new site for Premiere Auto Service Center of SW Florida LLC. Located at 3918 Chiquita Blvd. South in Cape Coral, the 4,240-square-foot building will have several service bays, a tire storage area and an 800-square-foot customer service and waiting area. The project also includes site utilities, storm drainage, asphalt paving, curbing and landscaping. Titsch & Associates Architects is providing architectural services and Quattrone & Associates is serving as civil engineer.
LAPEER AND TECUMSEH, MICH. — Cassidy Turley BRE Commercial has negotiated two retail sales totaling $11.56 million in Michigan. In the first transaction, PVP Lapeer LLC purchased a $14,550-square-foot retail building, which is located at 571 S. Main St. in Lapeer. Lapeer Green LLC sold the property, which is occupied by Walgreens, for $6.67 million. Matt McNeil of Cassidy Turley BRE represented the buyer in the transaction. In the second deal, McNeil represented PVP Tecumseh LLC in the acquisition of a 13,580-square-foot retail building at 1330 W. Chicago Blvd. in Tecumseh. Tecumseh Green LLC sold the property, which is occupied by Walgreens, for $4.86 million.