STONY POINT, N.Y. — ShopRite has opened its newest location at a Stony Point retail center. The 70,000-square-foot supermarket will anchor the Crossroads at Stony Point, an inline retail center located at 22 Holt Drive. Crossroads Cos. is the developer and leasing agent for the center.
OMAHA, NEB. — Los Angeles-based Westwood Financial has purchased Applewood Centre in Omaha for $9.25 million. The Hy-Vee grocery-anchored center offers 101,130 square feet of retail space. Other tenants include America Cash Advance, Alegent Health, Great Clips, Hair By Stewarts (Regis), H&R Block, Papa John's Pizza and State Farm Insurance. Ben Wineman of Mid-America Real Estate Corp. represented the seller, Phillips Edison Co., in the transaction.
OMAHA, NEB. — Steve Ruff of Q10|Daisley Ruff Financial has arranged a $7 million loan for a retail center in Omaha. The property is anchored by a grocery store. Terms of the loan include a 15-year, fixed-rate mortgage.
ROCHESTER, N.Y. — Broadstone Net Lease, an affiliate of Rochester-based private REIT Broadstone Real Estate, has acquired a portfolio of convenience stores for $14.7 million. The portfolio consists of seven properties located in New Jersey, Pennsylvania and Kentucky. The properties are triple net-leased to Lehigh Gas Corp. under several different brands. The leases carry an initial term of 20 years. Year to date, Broadstone has acquired 18 net-leased properties for a total of $46.7 million.
SAN ANTONIO — The Houston and Dallas offices of Holliday Fenoglio Fowler (HFF) have been selected to market for sale City Base Landing, a retail power center in south San Antonio. The 201,426-square-foot center will be offered for sale for $35 million, which equates to a 7.9 percent cap rate. Built in 2005, the property is occupied by Best Buy, Office Depot, Hancock Fabrics, AT&T, Buffalo Wild Wings, Cato Fashions, Chase Bank, Eye Masters, Shoe Show and Sherwin Williams. The 93 percent-occupied property is situated on 22 acres at 3326 Southeast Military Dr. The property is being marketed by Robert Williamson, Rusty Tamlyn and Jim Batjer of HFF.
NAMPA, IDAHO — Developers Diversified Realty Corp. has opened the 52,000-square-foot Edwards Nampa Gateway Stadium 12 Theatre at the 921,200-square-foot Nampa Gateway Center in the Boise metro area. DDR Builders, a subsidiary of Developers Diversified, served as general contractor and oversaw the construction of the $12 million theater, Regal Entertainment Group’s latest location. In addition to the theater, approximately 30,000 square feet of complementary retail will be opening at the shopping center.
COLLEGE PARK, GA. — Inland Atlantic Georgia Old National Venture, a joint venture between Inland Atlantic Development Corp., Pointe Development Co. and Heritage Creek Development, has broken ground for the development of Old National Marketplace, a planned 297,000-square-foot shopping center in College Park. The 99,000-square-foot first phase is approximately 90-percent pre-leased to a variety of tenants, including LA Fitness, Family Dollar, Citi-Trends, It's Fashion, Shoe Land and VIP Nails. Completion of the first phase is scheduled for October 2011.
ROCKFORD, MICH. — Pinnacle Ventures recently purchased a 2.5-acre land parcel at 8390 Belmont Ave. NE in Rockford. The buyer has broken ground at the site for the development of a 14,500-square-foot Goodwill retail store and donation center. The building is being designed and constructed to achieve LEED certification. Doug Taatjes of NAI West Michigan represented the buyer, while Rod Alderink, also of NAI West Michigan, represented the seller, J&D Investors, in the transaction. The acquisition price was not released.
FAIRVIEW — The Village at Fairview has recently added Guy Harvey's Island Grill, The Elegant Door, Twisted Roof Burger Co. and Whole Foods Market to its lineup of retailers and restaurants. And before the Holidays, the MGHerring Group's mixed-use lifestyle center will add a Real Bookstore (20,000 square feet), Finish Line (3,650 square feet), Vertigo (3,500 square feet), Daired's Salon & Spa Pangea (13,000 square feet), La Duni Latin Kitchen & Coffee Studio (7,000 square feet) and Splitsville (25,000 square feet). The Village at Fairview is anchored by Dillard's, Macy's and JCPenney.
FORT WORTH — Retail real estate development, redevelopment and acquisitions veteran Bill Morris has joined with Walter Floyd to form Morris Capital Partners in Fort Worth. The new commercial real estate firm focuses on value add commercial real estate opportunities including properties in underserved markets nationwide. The firm recently closed a deal on the 95,000-square-foot Bradford Plaza in Stillwater, Okla. It was sold to the firm out of receivership from Midland Loan Services. Tenants include Famous Footwear, Old Navy, Cato and Cici's Pizza.
