COLUMBUS, OHIO — Menards has acquired a 20-acre site at Columbus Corporate Center, which is located on East Broad Street at Rosehill Road in Columbus. The company plans to construct a 160,000-square-foot store on the site. This location will be Menards second store in Columbus. Additionally as part of the project, Brice Road will be completed to the north of the Menards site. CASTO brokered the transaction. Terms of the sale were not released.
DUNDEE, MICH. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.28 million credit-tenant lease loan for the acquisition of a retail property in Dundee. The asset is a 13,650-square-foot Walgreens location. Steven Wiltshire of MMCC's Portland, Ore., office arranged the financing. The loan is for 23 years with a 23-year amortization schedule and a fixed interest rate of 6.05 percent.
BROCKTON, MASS. — Paramount Partners has completed the sale of a Walgreens pharmacy in Brockton for $1.77 million. The property totals 12,536 square feet and is located at 1101 Main Street. Jay Nuss of Paramount represented the seller, Cindy Lou Realty Trust. Deborah Meyers, also of Paramount, represented the buyer, 1101 Main Brockton LLC.
AURORA, COLO. — Marcus & Millichap has brokered the $3.31 million sale of the 20,927-square-foot Office Depot at Southlands, a single-tenant, net-leased property located in Aurora. In the transaction, the brokerage firm’s Garrette Matlock represented the seller, a limited-liability company that developed the property.
LAS VEGAS — Commercial Executives’ Lance Robbins represented Winner Properties LLC in its nearly $2.07 million purchase of an approximately 13,800-square-foot retail building, located at 7795 W. Sahara Ave. in Las Vegas, from Bank of America.
FREEHOLD, N.J. — Groundbreaking has occurred for the new BMW of Freehold car dealership at 4225 U.S. Highway 9 North in Freehold. Construction will consist of the demolition of an existing structure, the construction of a 28,000-square-foot showroom building, the expansion and renovation of an existing mechanic shop, and the renovation of an existing 10,000-square-foot body shop. The owner of the project is DCH Auto Group. The general contractor is McGowan Builders and the architect is GreenbergFarrow. The construction timetable was not released.
DENVER — Marcus & Millichap has brokered the $13 million sale of a 125,601-square-foot site that is ground-leased to Lowe’s Home Improvement Warehouse. The brokerage firm’s Jamie Medress, Mark Ruble and Michael Hoffman represented both the buyer, a Phoenix-based real estate investment firm, and the seller, an Idaho-based developer, in the transaction. According to Ruble, Brighton Corp. demolished an old shopping center at the site, which is located at 2220 West Alameda Ave. in the Mile High City.
OMAHA, NEB. — Cox Communications has leased 2,121 square feet of retail space in Benson Park Plaza, which is located at 72nd Street and Ames Avenue in Omaha. The company plans to open the located in March. Dan Dutton of World Group Commercial Real Estate represented the undisclosed landlord in the transaction. Terms of the lease were not released.
NEW YORK CITY — Meridian Capital Group has arranged a $27.6 million loan for the refinancing of a retail condominium portfolio in New York City. The five-property portfolio totals 28,000 square feet and is located on the Upper West Side. The loan carries a 7-year term with a 5.31 percent fixed interest rate. The lender was UBS. Joseph Taub of Meridian's New York City office originated the loan on behalf of the undisclosed borrower.
BOSTON — Fantini & Gorga has arranged a $5.6 million loan for the refinancing of a retail center located in Boston's Mattapan neighborhood. The property totals 62,345 square feet and was fully leased at the time of closing. The proceeds will be used to refinance the borrower's existing acquisition and renovation debt. George Fantini, Jr., and Mark Whelan arranged the loan through a local financial institution.