LAWRENCEVILLE, GA. — Beachwood, Ohio-based Developers Diversified Realty Corp. and Chicago-based Prudential Real Estate Investors have sold the 89,064-square-foot Five Forks Village shopping center to Norcross, Ga.-based Safeway Group for an undisclosed amount. The center, which will be redeveloped, is located at 850 Dogwood Rd. in Lawrenceville. Robert Mahoney of CB Richard Ellis’ Chicago office represented the seller. Phil Ryan of Norcross-based Lavista Associates represented Safeway.
NEW YORK CITY — Massey Knakal Realty Service has completed the sale of a single-story, 1,800-square-foot retail building located in Brooklyn, New York City. The building is situated at 2117 86th St. within the borough's Bensonhurst neighborhood. It is occupied by Tango, a local clothing retailer. Massey Knakal's Jeffrey Shalom arranged the deal. Both parties were undisclosed.
BELLFLOWER, CALIF. — Kevin Fryman and Eric Wohl of Hanley Investment Group Real Estate Advisors represented the undisclosed seller in the disposition of Alondra Plaza, a 9,171-square-foot retail strip center in Bellflower. Located at 9345-9361 Alondra Blvd., the property sold for $1.97 million, which represents a 7.37 percent cap rate. The property, which was built in 1979, was 100 percent occupied at the time of acquisition. Current tenants include Advance America and Domino’s Pizza.
AUSTIN AND TEMPLE, TEXAS — Five Guys Burgers & Fries has signed leases to open two new restaurants in Texas. The first is a 2,851-square-foot restaurant located within The Arboretum in Austin, and the second is a 2,500-square-foot restaurant located within Bird Creek Crossing in Temple. Mike Minicucci and Robert O'Farrell of SRS Real Estate Partners represented Five Guys in lease negotiations. Five Guys currently has five locations in Central Texas. In the past year, SRS has helped the company sign leases for locations in San Antonio, Austin and Harker Heights, Texas.
TITUSVILLE, FLA. — Titusville, Fla.-based SBI Leasing has purchased a 10,811-square-foot restaurant from Palo Alto, Calif.-based Sovereign Investment Co. for $1.1 million. The building, which was formerly a Whistle Junction restaurant, is located at 3125 Columbia Blvd. in Titusville. Paul Partyka of NAI Realvest’s Maitland, Fla., office represented the seller.
SOUTH HACKENSACK, N.J. — NAI James E. Hanson has brokered the sale of two retail properties located in South Hackensack for more than $2 million. The first property, located at 460 Route 46 West, consists f a 12,500-square-foot, freestanding building that is currently leased to Syntec Technical School. NAI's Anthony Cassano represented the buyer, Dr. Robert Yang. The second property, located adjacent to the first at 480 Route 46 West, is a 5,000-square-foot, freestanding building currently leased to Marcone Appliance Parts. Cassano represented the buyer, David Haziza. Cassano also represented The Estate of Hans Wertheimer, the seller in both transactions.
BILOXI, MISS. — Hoar Construction will soon start work on a 161,000-square-foot addition to the Department of Veterans Affairs hospital in Biloxi. The addition consists of four operating rooms, 20 patient rooms and seven ICU rooms. Hoar will build the project adjacent to the existing hospital, connecting the new building to the current facility.
CUMMING, GA. — With the opening of Atlanta Fitness and Ace Hardware, Roberts Commercial Real Estate has completed the first phase of its 100,000-square-foot Windermere Village retail development. The project, which is located at the intersection of Windermere Parkway and Front Nine Drive in Cumming, sits across from an entrance to Windermere Community. When complete, the project will include restaurants and additional retailers.
LITTLE ROCK, ARK. — Dallas-based Strode Property Co. has secured Target as a major tenant in the company’s 711,000-square-foot Park Avenue mixed-use project, which is currently under development. Target is expected to open a 138,000-square-foot store in October 2010. Park Avenue is located on University Avenue in Little Rock.
WASHINGTON, IND., AND PLYMOUTH, MICH. — McKinley has been appointed receiver for two retail properties in Indiana and Michigan. Daviess County Circuit Court of Daviess County, Ind., appointed McKinley as receiver for Washington Plaza, a 92,000-square-foot retail center in Washington. Current tenants include Hometown IGA, Dollar General and Rent-A-Center. Additionally, McKinley has been appointed receiver of a 30,000-square-foot retail building in Plymouth. The multi-tenant building is occupied by Laird’s Auto Glass, Enterprise Car Rental and a collision shop. The appointment was made by Wayne County, Ind., Circuit Court.