CORAL SPRINGS, FLA. — Hollywood, Fla.-based MG3 Developer Group has purchased the former Target building, which is located at 6250 W. Sample Road in Coral Springs. The 100,000-square-foot property sold for $7 million. Dan Lynch and Ross Waters of Atlantic Retail Properties brokered the transaction. The seller was not released.
NILES, ILL. — Dallas-based Tuesday Morning has signed a lease for 20,000 square feet of retail space at Village Crossing, a 273,516-square-foot retail center located at the corner of Touhy Avenue and Carpenter Road in Niles. The discount retailer plans to open in January 2011 as a new anchor, joining Dick's Sporting Goods, Jewel/Osco and Pier 1 Imports. Patrick Owens of Transwestern represented the tenant; Mary Beth Menelli-Iveljic of Oakbrook Terrace, Ill.-based Mid-America Asset Management represented the landlord in the transaction.
BETHPAGE, N.Y. — NorthMarq Capital has arranged $4.3 million in first-mortgage financing for a shopping center located in Bethpage. Singleton's Shopping Center is a 45,000-square-foot property located at 150-160 Hicksville Road. It's primary tenant is H.R. Singleton's Café and Restaurant, which is also the owner. The loan carries a fixed interest rate, a 10-year term and a 25-year amortization schedule. The lender was StanCorp Mortgage Investors. Charles Cotsalas of NorthMarq's Long Island office partnered with Ernes DesRochers of the firm's New York City office to secure the loan.
CHANDLER, ARIZ. — Marcus & Millichap has brokered the $2.1 million sale of a 5,687-square-foot IHOP, located at 935 West Elliot Road in Chandler. The brokerage firm’s Jamie Medress and Mark Ruble represented the developer/seller of the single-tenant, net-leased property.
CHICAGO — Leopardo has completed a training center and showroom for Whirlpool Corp. at 325 N. LaSalle St. in Chicago. Located in the historic Reid Murdoch Center, the 30,000-square-foot space featuring working kitchens, laundry rooms, garages, an outdoor entertainment and flexible meeting space. The interactive, state-of-the-art showroom will be used for training and continuing education purposes. Leopardo served as general contractor while Valerio Dewalt Train and Associates provided architectural services for the project.
NEW YORK CITY — Eastern Consolidated has brokered the sale of a retail condominium located in at 54 Bond St. in New York City for $5.5 million. Tenants at the space include Rogan, Billy Reid and Cire-Trudon. Jerome Benayoun of Eastern Consolidated represented the seller, local developer Adam Gordon, as well as the buyer, a French investment group.
TALLAHASSEE, FLA. — Agree Realty Corp. has purchased a retail property, which is ground leased to Kohl's Department Stores, in Tallahassee. Located at the intersection of Apalachee Parkway and Blair Stone Road, the property sold for approximately $2.2 million. Kohl's has approximately 17 years remaining on the base term of the lease. The seller was not released.
NORTHBROOK, ILL. — The Boulder Group has completed the sale of a Walgreens property in Northbrook. The single-tenant, 14,500-square-foot building, which is long-term leased to Walgreens, sold for $9.9 million. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago-based development partnership, in the transaction. The buyer was a San Francisco-based private investor.
LITTLETON, COLO. — Cushman & Wakefield of Colorado has closed the $1.42 million sale of Dakota Village, a 17,100-square-foot multi-tenant retail building located at 10027 W. Remington in Littleton. Built in 2003 and 59 percent occupied at the time of sale, the Big 5 Sporting Goods-anchored property was sold by a private California-based investment group to Drake Real Estate Services. Cushman & Wakefield’s Gene Pride and Patrick Devereaux assisted in the transaction.
NORTHBROOK, ILL. — Regency Centers has acquired Willow Festival, a 405,227-square-foot retail center located at 840 to 1090 Willow Road in Northbrook, for $64 million. Built in 2007, the property is occupied by Lowe's Home Improvement Warehouse, Whole Foods Market, Best Buy, HomeGoods, REI, DSW and CVS/pharmacy. The 96-percent leased center also offers 54,317 square feet of side shop space, including Starbucks Coffee, Potbelly, Fannie May, Lenscrafters and Sports Clips. The property was purchased in an off-market transaction from the center's developer, Hamilton Partners.