PORTLAND — A 4,000-square-foot Hibbett Sports has opened at Northshore Plaza, located at the intersection of Highway 181 and Lang Road in Portland. Dale Davison of Centro Properties Group represented the company, the owner of the retail center, in the lease transaction with Hibbett Sports.
NEW YORK CITY — Thor Equities has acquired a 12,000-square-foot retail condo located in Manhattan's Meatpacking District. The condo comprises the first and basement levels of 411-417 W. 13th St. Thor subsequently leased the space to clothing retailer All Saints Spitalfields. The retailer also leases space from Thor for stores in Manhattan's SoHo District and in South Beach, Miami.
HARRINGTON, DEL. — The Philadelphia office of Marcus & Millichap has completed the sale of a 14,820-square-foot Walgreens located at the intersection of U.S. Route 13 and Clark Street in Harrington. The property traded for $5.49 million at a 7.5 percent cap rate. The buyer was a New Jersey-based partnership completing a 1031 exchange, and the seller was a limited liability company. Mark Taylor and Dean Zang of Marcus & Millichap represented the seller. Brad Nathanson, also of Marcus & Millichap, represented the buyer.
FORT WORTH — John Burke of NorthMarq Capital's Houston office has arranged first mortgage financing of $6.5 million for Stockyards Center, a 102,910-square-foot, grocery-anchored shopping center located at 201 N.E. 28th St. in Fort Worth. A long-term, fixed-rate loan was arranged for the borrower, Houston-based United Equities, through NorthMarq's correspondent relationship with Aetna.
ORLANDO, FLA. — C.T. Hsu + Associates has completed the renovation and rehabilitation of Airsides 1 and 3 at Orlando International Airport in Orlando. The 24/7 airline operations and passenger service continued without interruption during the $197 million renovation project. Project partners include Aviation Authority, Hensel Phelps Construction Co., the airlines and airport tenants.
CLEVELAND — The former Lincoln-Mercury Dealership, located at 6700 Rockside Road in Cleveland, is being redeveloped into a retail center named Liberty Commons. The 24,792-square-foot center will be occupied by Panera Bread, Dibellas Old Fashioned Submarines and Key Bank. The center is expected to open in spring 2011. The 4.6-acre property was sold to an undisclosed local developer. Armand Aghajanian of CRESCO Real Estate represented the seller, Liberty Investment Group, in the transaction. The sales price was not released.
CAPITOLA, CALIF. — Terranomics Retail Services has negotiated Target Corp.’s purchase of a 98,120-square-foot former Gottschalks’ store, located at 1825 41st Ave. within the Capitola Mall in Capitola. The sale price was not disclosed. Subsequent to being vacated by Gottschalks in mid-2009, the building returned to the lender after a loan default by the previous owner. Terranomics’ Matt Kircher represented the buyer in the transaction; the seller was LNR Partners LLC.
LAS VEGAS — Faris Lee Investments has completed the $1.835 million sale of a 2,857-square-foot Jack in the Box, located at 9360 W. Tropicana Ave. in Las Vegas, to San Diego-based A. Mashayekan Trust. The fast-food restaurant property was built in 2002. Faris Lee’s Jeff Conover represented the seller in the all-cash transaction.
ST. CLOUD, FLA. — NAI Realvest has brokered the sale of Buffet City restaurant and its 2.02-acre site, which is located at 4551 13th St. in St. Cloud. Local investment firm Sun Valley Eastern Investments acquired the 10,523-square-foot property for $1.49 million. Paul Partyka of NAI Realvest represented the seller, Sooner Investment or Sooner St. Cloud LLC of Melbourne, in the transaction. NAI Realvest's Kevin O'Connor and Matt Cichocki represented the buyer.
HENDERSONVILLE, N.C. — A Florida-based buyer has purchased Walgreens Pharmacy #10886 in Hendersonville. Located at 1148 Asheville HIghway, the 15,371-square-foot retail property sold for $5.03 million. Allen Smith of Marcus & Millichap's Charlotte, N.C., and Larry Curry of the firm's Tampa, Fla., represented the buyer in the transaction. The seller was not disclosed.
