LAS VEGAS — Colliers International – Las Vegas has brokered Juliet Cos.’ $5.325 million acquisition of a 61,125-square-foot retail property located at 4580 W. Sahara in Las Vegas. The locally based retail developer plans to upgrade the property, which was formerly occupied by Tower Records, The Good Guys and a Walgreens. Colliers’ David Grant and Grant Traub represented the seller, Facchino Properties, and buyer, respectively.
ESCONDIDO, CALIF. — Inland Western Retail Real Estate Trust and Federal Realty Investment Trust have announced the closing of the $11.25 million sale of a 75,712-square-foot former Mervyn’s store located in Escondido. In July, Inland Western signed a 44,760-square-foot lease with Dick’s Sporting Goods to fill a portion of the space. Inland Western commenced construction in September to facilitate an early 2011 opening. Tenant-improvement costs incurred to date will be reimbursed by Federal Realty Investment Trust.
LAFAYETTE, DENHAM, RUSTON, ABITA, DUTCHTOWN, GONZALES, BROUSSARD AND MERAUX, LA. — The Dallas office of Holliday Fenoglio Fowler (HFF) has arranged a $27.16 million loan for a portfolio of Walgreens drugstores in Louisiana. The eight-property portfolio totals 116,070 square feet and includes stores in Lafayette, Denham, Ruston, Abita, Dutchtown, Gonzales, Broussard and Meraux. HFF's Kevin MacKenzie, on behalf of Stirling Properties, place the 4.92 percent fixed-rate securitized loan with Goldman Sachs Commercial Mortgage Capital. Loan proceeds will be used to retire the existing construction loans on the properties, which were constructed between 2007 and 2010.
OMAHA, NEB. — NorthMarq Capital has arranged $2.28 million in financing for the Fort Street Walgreens n Omaha. The 15,120-square-foot retail property is located at 10725 Fort St. Financing was based on a 10-year fixed term with a 20-year amortization schedule. The loan was arranged for the borrower, BDRE – FORT LLC, by NorthMarq through its relationship with American National Bank. Gary Rifkin of NorthMarq's Omaha regional office arranged the financing.
CHELMSFORD, MASS. — Linear Retail Properties has acquired Chelmsford Plaza, a 24,462-square-foot shopping center located in Chelmsford, for $6.77 million. The center is situated at the intersection of Drum Hill Road and North Road, across the street from a Walmart. The center's tenants include Starbucks, Sherwim-Williams, AT&T Wireless, UPS Store, Little Caesar's Pizza, Supercuts and H&R Block. The center has one 2,400-square-foot vacancy. The seller was the property's original developer.
MANSFIELD, MASS. — EagleBridge Capital has arranged $2 million in permanent acquisition financing for a Rite Aid in Mansfield. The 13,500-square-foot, freestanding property is located at 243 Chauncy St. Ted Sidel and Brian Sheehan, both of EagleBridge, arranged the loan on behalf of the undisclosed borrower through a commercial bank.
RICHMOND, VA. — John Jay Schwartz of Have Site Will Travel has brokered the sale of a former automotive dealership in Richmond. Jong Lim has acquired the former Emrick Chevrolet & Standard Automotive dealership, which is located at 101 Chamberlayne Ave., for $1.1 million. The buyer plans to open a Ruby Red Beauty Supplies Superstore and warehouse at the site.
BROOKSHIRE — Room To Go has opened a 1 million-square-foot distribution and showcase facility along Interstate 10 in Brookshire, northwest of Houston. The 22.6-acre building was completed by Bob Moore Construction — its third project for Rooms To Go. Bob Moore Construction has also completed an 851,000-square-foot distribution center in Arlington for Rooms To Go as well as a 34,888-square-foot showroom in Fort Worth. MacGregor Associates Architects was the architect of record for the Brookshire project.
YONKERS AND NEW ROCHELLE, N.Y. — CVS/pharmacy will open two new locations in Westchester County this spring. The first will be a 10,000-square-foot, freestanding store located at 222 North Ave. in New Rochelle. It will be the pharmacy's fourth location in the city. In addition, CVS will open its fourth location in Yonkers. The new store will total 23,021 square feet and will co-anchor the shopping center located at 25 Prospect St. Goldschmidt & Associates represented CVS in both lease transactions.
ORLANDO, FLA. — An undisclosed buyer has acquired a 72,618-square-foot self-storage facility in Orlando. Located at 4020 Curry Ford Road, the 637-unit property sold for $2.8 million. Charles LeClaire and Michael Mele of Marcus & Millichap marketed the property on behalf of the seller, a national bank. LeClaire and Mele also represented the buyer in the transaction.