CINCINNATI — Union Township Clermont County CIC Inc. of Ohio has acquired bigg's Place Mall in Cincinnati for $7.5 million. Situated on 40.62 acres, the 402,786-square-foot retail center is occupied by Hobby Lobby, Regency Beauty, Original Mattress Factory, Danberry Cinemas and Rincon Mexican Restaurant. At the time of acquisition, the property was 43 percent occupied. Steve Timmel, Jeff Johnston and Chris Prosser of Colliers International represented the seller, JPMCC 2006-LDP6 EASTGATE BOULEVARD LLC, in the transaction.
Retail
SHREWSBURY, MO. — NorthMarq Capital has arranged an $8.5 million loan for Mackenzie Pointe Shopping Center, a grocery-anchored retail center in Shrewsbury. Situated on 23.23 acres at 7241 Watson Road, the property offers 167,916 square feet of rentable retail space. The major tenant is Dierbergs. Financing was based on a 10-year term and a 25-year amortization schedule. Jeff Chaney of NorthMarq Capital's St. Louis Regional office arranged the financing.
BOLINGBROOK, ILL. — Kyle Mayberry of Zifkin Realty Group represented Binny's Beverage Depot in the lease of 21,356 square feet of space at The Promenade Bolingbrook in Bolingbrook. The new location at Boughton and Janes avenues is the 26h store location in the Chicago area. Nathan Tonnies of Metro Commercial represented the undisclosed landlord. Terms of the lease were not released.
LAS VEGAS — Danoski Clutts Building Group (DCBG) has completed tenant improvements at Marshall Rousso within McCarran International Airport in Las Vegas. Though finished in only eight weeks, the project involved demolition of the existing space, and then improvements such as high-end wall, ceiling and floor finishes. The retailer’s ceiling is now multi-elevation.
ANDERSON, S.C. — The Hampshire Companies, in a joint venture with MCB Real Estate, has acquired two retail properties totaling 43,139 square feet in Anderson. The properties are located within the North Hills Commons, a 333,149-square-foot shopping center. TIAA-CREF sold the properties for an undisclosed price. Mike Burkard of CB Richard Ellis represented the seller in the transaction.
BOZEMAN, MONT. — Grubb & Ellis has negotiated the sale of approximately 4.2 acres of land to Kohl’s Illinois Inc. in Bozeman. The sale price was not disclosed. The discount retailer plans to construct a 56,000-square-foot building within the Bozeman Gateway project, a 50-acre mixed-use development featuring retail, office, entertainment and hotel space. Grubb & Ellis’ Mark Baziak and Michael Elliott represented Mitchell Development Group LLC in the sale.
CHICAGO — Chicago-based Newcastle Limited has purchased 670 West Diversey, which is located on the border of Chicago's Lincoln Park and Lakeview neighborhoods. The 10,700-square-foot retail property sold for $6.1 million. The single-story property is fully occupied by Firkin & Pheasant, Akira and The Counter. Newcastle purchased the property on behalf of its $500 million Chicago real estate investment platform.
ENGLEWOOD, COLO. — Charles Dunn Co. has negotiated the nearly $9.73 million acquisition of a 14,820-squarefoot Walgreens, located at 123 E. Belleview Ave. in Englewood. The brokerage firm’s Michel Hibbert represented the buyer, Berg & Boyer Family Trust, in the transaction, and Deerfield Partners represented the seller, Net Leased Development LLC. The retail asset was built in 2009.
ELGIN, ILL. — May Center Advisors represented the undisclosed seller in the disposition of a retail center in Elgin. The 16,425-square-foot property, which is 40-percent vacant, is occupied by Noodles & Company, Sign-A-Rama, Nova Care and Silver Lake Restaurant. Matt DeDobbelaere of May Center Advisors represented the seller; Dave LeCavalier of Forefront Properties represented the private buyer in the transaction. Terms of the sale were not disclosed.
HILLSBORO, ORE. — StanCorp Real Estate LLC has sold Tanasbourne Lot 19 – Retail, a three-building property located at 2550-2770 NW 188th Ave. in Hillsboro, to Atlas Investments for $7.1 million. NAI Norris, Beggs & Simpson Chris Johnson and MaryKay West represented the seller of the 21,154-square-foot complex, site of Stanford’s Restaurant & Bar, Red Robin and U.S. Bank. The 7-acre, NNN-leased property is situated in the Tanasbourne community near the Intel campus, the new Kaiser Westside Medical Center, and the Genentech and SolarWorld locations.