BRANDON, FLA. — Adler Group has completed the disposition of an approximately 16-acre site within its Pavilion Crossings Development, which is located at U.S. Highway 301 and Falkenburg Road in Brandon. The site will be developed with a 45,600-square-foot Publix Supermarket and a 5,000-square-foot Fifth Third Bank. The projects are scheduled for completion in late 2011. Howard Taft and Charles Penan of Aztec Group represented Adler Group in the transaction. Terms of the transaction were not released.
CHICAGO — Newcastle Limited has acquired 227 East Ontario, a 15,500-square-foot retail property located in Chicago's Streeterville neighborhood. Newcastle plans to add 885 square feet of additional space to the two-story building, which was purchased for $5.9 million, and redevelop the property into a premier retail property. The property was recently vacated by the U.S. Postal Service. Paul Bryant and David Stensby of Mid America Real Estate represented the undisclosed sellers in the transaction. Additionally, Newcastle has retained Mid America to market the redeveloped property.
ST. PAUL, MINN. — The Boulder Group has brokered the sale of a single-tenant retail property in St. Paul. The 14,490-square-foot property, which is net leased to Walgreens, sold for $5.9 million. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the 1031 exchange buyer, a California-based private family trust, in the transaction. The seller was a Midwest Walgreens developer.
STOW, MASS. — NorthMarq Capital has arranged $12 million in mortgage financing Stow Shopping Center, a community retail property located on Great Road in Stow. The property totals 123,842 square feet in two buildings. Its tenants include Shaw's Supermarket, Ace Hardware, Citizens Bank, Pet Source, Global Fitness, Red Ginger Restaurant, Dunkin' Donuts and Papa Gino's. John Hegenbart of NorthMarq's Boston office arranged the financing on behalf of the borrower, Linear Retail Properties, through the lender, Sun Life Assurance Company of Canada.
GRAPEVINE — Dallas-based Venture Commercial, through its Venturetainment Division, has completed two leases for Merlin Entertainments Group, bringing LegoLand Discovery Center and a Sea Life Aquarium to Texas for the first time. The two attractions will open later this year in the Grapevine Mills Mall. LegoLand will occupy approximately 35,000 square feet and Sea Life will occupy approximately 45,000 square feet. Jonathan Cooper and Larry Leon of Venture Commercial assisted Howard Samuels of Samuels & Co. representing the two tenants. Gregg Goodman represented Mills/Simon in-house.
CARSON, CALIF. — Scott Hook of Marcus & Millichap has completed the sale of Avalon Plaza in Carson. The 15,577-square-foot retail center, which is located at 20761 Avalon Blvd., sold for $4.3 million. Hook represented the undisclosed seller in the transaction. The buyer was not disclosed.
ATLANTA — Atlanta-based general contractor Benning Construction Co. has been selected to construct three Publix stores in the Southeast. The project include stores in Columbus, Ga., Pell City, Ala., and Summerville, S.C. Additionally, Benning won the contract to build an 18,000-square-foot, state-of-the-art Planet Fitness facility at Interstate 20 and Wesley Chapel Road in DeKalb County, Ga. The fitness facility is scheduled for delivery in March.
STRONGSVILLE, OHIO — A California-based private investor has acquired Strongsville Pointe, a retail center located at 14375-14427 Pearl Road in Strongsville. The 41,019-square-foot property is anchored by Boston Market with two outparcels occupied by Taco Bell and Dollar Bank. Cleveland-based Coral Strongsville Limited Partnership sold the property for $1.65 million or $40.23 per square foot. Bob Havasi of Cleveland-based Cooper Commercial Investment Group represented both parties in the transaction.
NORTH CHARLESTON, S.C. — RCG Ventures LLC, in a joint venture with DRA Advisors LLC, has acquired Northwoods Marketplace in North Charleston. Situated across from Northwood Mall, the 192,729-square-foot center is occupied by Barnes & Noble, Michaels, Old Navy, Best Buy, Bog Lots and Guitar Center. The undisclosed seller was represented by Faison & Associates. The acquisition price was not released.
FORT LAUDERDALE, FLA. — GJL Riviera LLC has acquired a Bank of America branch location at 2406 S.E. 17th St. Causeway in Fort Lauderdale. The freestanding, 4,385-square-foot property sold for $1.45 million. Dave Donnellan and Todd Weintraub of CB Richard Ellis represented the undisclosed seller in the transaction.