BOGART, GA. — Stelf LLC has purchased a 28,575-square-foot retail building from Capmark Finance for $1.15 million. The former Circuit City store is located on 3 acres at 4110 Atlanta Highway in Bogart. Kyle Stonis and Rob Whitmire of Bull Realty, the sole brokers involved in the transaction, represented the seller.
NAZARETH, PA. — Marcus & Millichap has competed the sale of a Tractor Supply Co. located in Nazareth for $3.5 million. The 19,097-square-foot store is situated on 3.69 acres on Jandy Boulevard. It is subject to a new 15-year, double-net lease with a 10 percent rent increase every 5 years. The seller is a North Carolina-based limited liability company. The buyer is a Pennsylvania-based limited partnership. The property was purchased as part of a 1031 exchange and will be managed as a passive investment. Mark Taylor and Dean Zang of Marcus & Millichap's Philadelphia office represented the seller. Seth Pollack of Marcus & Millichap's New Jersey office represented the buyer.
BARSTOW, CALIF. — Revolutions has purchased the more than 35,000-square-foot Barstow Bowling Alley, located at 750-760 East Main Street in Barstow. Dr. Ronald J. Barbieri of the Inland Empire North office of Lee & Associates represented both the buyer and undisclosed seller in the transaction.
LOS ANGELES — Restaurateur James Li has opened a new 1880 Café on the ground floor of Held Properties’ 1880 Century Park East office building, located in the Century City submarket of Los Angeles. The restaurant’s 1,100-square-foot interior incorporates green building materials such as low VOC paint.
AUBURN, WASH. — Marcus & Millichap Capital Corporation (MMCC) has arranged a $6 million, 10-year fixed-rate loan to refinance the Auburn Center, a 45,402-square-foot neighborhood retail center located in Auburn. Arranged by Glenn Gioseffi, a director in MMCC’s Seattle office, the refinancing package was provided by a local bank. Built in 1991, the Auburn Center was refinanced at a loan-to-value of 50 percent with a 30-year term.
JACKSONVILLE, FLA. — Calkain Companies has procured the $1.1 million sale of a Chick-fil-A ground-lease investment property in Jacksonville. The property at 4461 Southside Blvd. was corporately leased by Chick-fil-A and consisted of approximately 1 acre of land and a 4,202-square-foot building constructed specifically for the fast-food location. Patrick Nutt of Calkain Companies represented the purchaser for the transaction.
DEVON, PA. — Bryn Mawr, Pa.-based WP Realty has acquired Devon Village, a shopping center located in Devon. The property is situated on Lancaster Ave. and comprises an approximately 70,000-square-foot shopping center anchored by Whole Foods Market. WP also owns a 2.2-acre parcel adjacent to Devon Village that is zoned for commercial use. The seller and the acquisition price were not disclosed.
PHILADELPHIA — Onyx Equities has completed two leases at Red Lion Plaza, a 224,269-square-foot shopping center located at Red Lion Road and Roosevelt Boulevard in Philadelphia. Planet Fitness and Wit or Witout Cheesesteaks will occupy a total of 30,258 square feet, bringing the center to 100 percent occupancy. Jed Masloff and Jim Creed of Fameco Real Estate represented Onyx in both lease transactions. Randy Hope of Metro Commercial represented Rhino Red Lion dba Planet Fitness. Additional tenants at Red Lion Plaza include American Signature Furniture, Best Buy, Staples and Pep Boys.
BALTIMORE — A joint venture of The Hampshire Companies and MCB Real Estate has purchased the 45,000-square-foot Church Square Shopping Center from the Baltimore-based construction firm Streuver Bros. Eccles & Rouse for an undisclosed amount. The buyers plan to reposition the property and find a tenant for the center’s 20,000-square-foot anchor space. Hampshire used money from The Hampshire Generational Fund for the purchase.
FEDERAL WAY, WASH. — TRI Commercial/CORFAC International’s Robert King and Jeff Crane of The Andover Co./CORFAC International represented WB Equities in the sale of an International House of Pancakes (IHOP) restaurant, located at 178 SW Campus Dr. between Seattle and Tacoma in Federal Way, for close to the asking price of $3.25 million. The buyer was not disclosed. This 4,022-square-foot NNN property has more than 18 years remaining on its lease.