CHARLOTTE, N.C., AND GREENWOOD, S.C. — Berkeley Capital Advisors has brokered two neighborhood shopping center sales. The first property is Independence Square, a 139,361-square-foot neighborhood center located in Charlotte. Major tenants include Super Global Mart, Rugged Warehouse, Harbor Freight Tools, Dollar General, Dots, Bank of America and Ruby Tuesday. Occupancy was 95 percent at the time of closing. The second property was Food Lion Plaza, a 48,466-square-foot neighborhood center located in Greenwood. Anchored by Food Lion, the property was 85 percent occupied at closing. The Berkeley team of Rob Carter, David Webb and Alex Quarrier arranged both deals.
ALPHARETTA, GA. — Addison Place, a 44,293-square-foot retail center, has sold for $2.6 million. Located on Jones Bridge Road in John's Creek, the shopping center is positioned adjacent to a CVS/pharmacy and its lead tenant is Bonefish Grille. Craig Taylor of CB Richard Ellis' private client group represented the seller, P.I. Holdings, Inc., a division of BBVA Compass Bank. The buyer was Addison Place Ventures LLC.
FOX LAKE, ILL. — Dollar Tree has opened a new 9,000-square-foot location within Fox Lake Crossing, located at the intersection of State Routes 59 and 134 in Fox Lake. Jeff Wright of Kite Realty Group represented the landlord, KRG Fox Lake Crossing LLC, in lease negotiations. Kyle Mayberry of Zifkin Realty Group represented Dollar Tree.
BEVERLY HILLS, CA — Coldwell Banker Commercial WESTMAC has sold a 3,800-square-foot building to an overseas investor for $2,150,000. Located at 209 South Robertson Blvd., the one-story, free-standing retail building was vacant at the time of the sale. It was previously a showroom for a classic car reseller. Coldwell’s James Stanfill, Patrick Sheekey and T.C. Macker represented both the buyer and the seller.
SAVANNAH, GA. — Wal-Mart has renewed its 800,000-square-foot lease at 150 Portside Ct. in Savannah. Wal-Mart has occupied the building in Crossroads Business Center since 2001. Brian Sutton of Indianapolis-based Duke Realty and Jeff Jepson of Savannah-based North Point Industrial Realty represented Duke Realty, the landlord, in the transaction.
CHICAGO — Millennium Properties has brokered the sale of six former KFC restaurants in Chicago. Daniel Hyman and Susan Silver worked on behalf of the lender to arrange the sale of the properties' sheriff's certificates rather than the deeds. The restaurants are located at 3333 West Armitage, 4320 W. North Ave., 3201 West Cermak, 6705 South Halsted, 737 East 87th and in Ravenswood. Separate parties purchased the properties. They are part of a larger 13-property portfolio that is being marketed for sale.
GLEN ALLEN, VA. — Cushman & Wakefield | Thalhimer has completed three leases at Franklin Commons, located at 5640 Cox Rd. in Glen Allen. SunTrust Bank has leased 90,000 square feet, Independent Container Line leased 22,000 square feet and an undisclosed Fortune 100 company has leased 44,000 square feet. N. Dean Meyer, Austin Newman and Mac Wilson of Cushman & Wakefield | Thalhimer's Richmond, Va., office represented the landlord in the lease negotiations.
CREVE COEUR, MO. — Ramco-Gershenson Properties Trust (NYSE: RPT) has acquired Heritage Place, a 270,000-square-foot shopping center located in the St. Louis suburb of Creve Coeur. Situated at the intersection of Olive Boulevard and Ross Avenue, the property is anchored by a 74,721-square-foot Dierberg's Supermarket. Other tenants include Marshalls, T.J. Maxx, Office Depot and Petco. Occupancy was 90.1 percent at the time of closing. Heritage Place marks the fourth grocery-anchored shopping center RPT has purchased since the third quarter of 2010. The seller's name and acquisition price were not disclosed.
GURNEE, ILL., AND GREENDALE, WIS. — Macy's has announced plans to open two new store in Illinois and Wisconsin. Both stores will open within malls currently be redeveloped by Simon Property Group. The first location will be a single-level, 140,000-square-foot store located within Gurnee Mills in Gurnee. The store will be built on the site of a former Circuit City and will open in spring 2013. The second location will be a two-level, 150,000-square-foot store located within Southridge Mall in Greendale. The former Younker's has been subdivided over the years and will be remodeled before opening in spring 2012.
FORT WORTH — Hulen Mall, owned and managed by General Growth Properties, is set for an interior renovation at Interstate 20 at Hulen Street in Fort Worth. The renovation includes all new tile flooring, soft seating areas, new signage, new paint, new lighting fixtures, escalator enhancements, and an upgraded energy management system. The completion of the interior construction will coincide with the completion of the new 22,000-square-foot outdoor restaurant plaza currently underway on the east side of Hulen Mall. Two national restaurants, Abuelo's and BJ's Restaurant & Brewhouse, are targeting November opening dates.