NORTH OLMSTED, OHIO — The 4,886-square-foot, two-building Domino's Pizza Plaza, located on Lorain Avenue in North Olmsted, has sold for an undisclosed price. The building is 100 percent leased to Domino's and Hanna's Pub. Kyle Hartung and Rob Yaskanich of Cleveland-based Goodman Real Estate Services Group were the exclusive listing agents for the property.
NEW YORK CITY — Equity One has acquired a fee interest in a Manhattan retail condo for $55 million. The property totals 56,870 square feet and is located at 161 W. 16th St. in Chelsea. Loehmann's leases the space until March 2016. The seller's name was not released.
SOMERSET, N.J. — Colliers International has brokered the sale of a 20,164-square-foot retail center located at 464 Elizabeth Ave. in Somerset for $8.9 million. The center was constructed in 2009 and is tenanted by Rite Aid, Dunkin Donuts and New Millennium Bank. The buyer was a regional investor. William Aiello and George Lulos of Colliers' Harrisburg, Pa., office partnered with Ian Schroeder and Maurice Nieman of the firm's Irvine, Calif., office to represent both parties in the deal.
HOUSTON — The 36,645-square-foot Copper Grove Shopping Center has changed hands. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, a local partnership. The buyer, an Oklahoma partnership, was also secured by Goldstein. Copper Grove Shopping Center is located at 8955 N. Hwy. 6 in Houston. It was built in 2007 and sits on 175,982 square feet of land.
PEARLAND — ARA has facilitated the sale of three REO land sites — Pearland, Trails at Seabourne and Village East. Tim Dosch and David Marshall of ARA represented the seller, BBVA Compass Bank, in all three transactions. Both Trails at Seabourne and Village East were purchased by local buyers, Woodcreek Mortgage Corp. and Larry Hollman, respectively, who plan to develop the sites for single-family homes. The 40-acre Pearland site, however, was purchased by Parkside Capital, LLC, a Houston-based company that focuses on land investment opportunities in Houston, Austin, San Antonio and Dallas. Parkside Capital plans to develop the land and sell sites for retail use. The Pearland site is located on the northwest corner of SH 288 and CR 59 in Pearland.
NAPLES, FLA. — Globalvest Investments Group has purchased a 45,878-square-foot retail building located at 5015 Tamiami Trail in Naples from LNR Partners for $3.5 million. The CB Richard Ellis team of Larry Foster and Mike Concilla represented LNR, and David Stevens of IPC represented Globalvest.
BRYN MAWR, PA., AND NEW YORK CITY — A joint venture between Bryn Mawr-based WP Realty and New York City-based Angelo, Gordon & Co. has purchased The Shaw's Portfolio for an undisclosed amount. The eight-property portfolio contains 659,143 square feet of retail space. It consists of seven Shaw's anchored shopping centers and a freestanding property occupied by Hannaford Brothers. The properties range in size from 57,181 to 124,331 square feet. Five of the centers are located in Massachusetts, two are located in Maine and one is located in Rhode Island. Combined occupancy was 97 percent at the time of closing. The seller was not disclosed.
NEW YORK CITY — Robert K. Futterman & Associates (RKF) has brokered the sale of a retail condominium in Midtown Manhattan for $16.25 million. The condo totals 6,183 square feet and is located at 750 Eighth Ave. in the ground floor of the 43-story The Platinum residential building. The condo was vacant at the time of the sale. The RKF team of Michael Worthman and Brandon Eisenman represented the seller, SJP Residential Properties, and procured the buyer, Hershel Torkian.
MANCHESTER, MO. — Mungenast Lexus of St. Louis has become the first LEED-NC Lexus new car dealership built from the ground up in the U.S. Located at 13700 Manchester Rd. in Manchester, Mungenast Lexus is a branch of the Mungenast Automotive Family. The dealership called upon HDA Architects, Holland Construction and Vertegy to design and build the sustainable property. Efficient lighting, water-saving devices and other environmentally friendly elements were incorporated into the 70,000-square-foot facility. More than 91 percent of the construction and demolition waste was diverted from the landfill by way of recycling centers and reuse.
SYOSSET, N.Y. — NorthMarq Capital has arranged $7.7 million in construction and permanent financing for a retail project in Syosset. The project, which is located at 240 Jericho Turnpike, consists of the conversion of a former car dealership into a 30,000-square-foot, high-end retail center. The financing includes a 2-year acquisition, construction and renovation financing component along with a non-recourse, permanent loan for up to 10 years. Ernest Des Rochers of NorthMarq's New York City office and Charles Cotsalas of the firm's Long Island office secured the financing through a regional bank on behalf of the undisclosed borrower.