ATASCADERO, CALIF. — Brandon Michaels of Marcus & Millichap represented a private investor in the purchase of a Denny’s restaurant location in Atascadero for $1.22 million. Michaels also represented the undisclosed seller in the transaction.
Retail
FORT MYERS, FLA. — Ron Schultz of Marcus & Millichap’s Tampa, Fla., office has brokered the sale of a Wachovia-Wells Fargo building between two undisclosed parties for $1.75 million. The 6,245-square-foot property is located at 11801 Palm Beach Blvd. in Fort Myers.
COLUMBIA CITY, IND. — Evan Halkias and Michael Marks of Marcus & Millichap’s Chicago office represented a national development company in the disposition of a 14,820-square-foot retail property in Columbus City. Located at 535 N. Line St., the property sold for $3.8 million. The building is occupied by Walgreens, which has 70 years remaining on its 75-year lease. The buyer was not disclosed.
CRANBERRY TOWNSHIP, PA. — Marcus & Millichap has represented two undisclosed parties in the $5.5 million sale of a 25,198-square-foot property net-leased to Chick-fil-A and Olive Garden. The property is located at 1678-1716 Route 228 in Cranberry Township. Jack Hopkins of Marcus & Millichap represented the seller, and the firm’s John Susank represented the buyer.
CORPUS CHRISTI, TEXAS — Trademark Property has signed 11 new tenants to its retail and restaurant roster at La Palmera mall in Corpus Christi. P.F. Chang’s China Bistro, Grimaldi’s Coal Brick-Oven Pizzeria and Charming Charlie will open in spring 2010; VANS, Verizon Wireless, MTV Nails, Sarku Japan, Subway, Coffee Beanery, H.J. Smoothies & Creamery, and Pretzel Maker will open this fall. The mall is currently undergoing a $50 million renovation.
FORT MYERS, FLA. — 5999 South Point has acquired the 58,670-square-foot Southpointe Commons shopping center from a fund advised by Prudential Real Estate Investors for an undisclosed amount. The Class A shopping center, located on College Parkway in Fort Myers, is anchored by a 44,270-square-foot Publix. Additional tenants include Blockbuster, GNC and Papa Johns. Daryl Carter and Orme Miller of Maury L. Carter & Associates represented 5999 South Point. CB Richard Ellis represented the seller.
ROANOKE RAPIDS, N.C. — Walmart has signed a lease with an undisclosed landlord to occupy a 45,000-square-foot in a former Kmart store in Roanoke Rapids. The property is located in the 181,625-square-foot Becker Village Mall near the intersection of I-95 and Julian R. Allsbrook Highway. JC Penney, Java Joe’s, Bella Vita Salon and Spa and Bojangles are also housed in the center, which is leased by Divaris Real Estate.
GEORGETOWN, KY. — 102 North Bradford Lane LLC has acquired a Pizza Hut store in a sale-leaseback with NPC International for $1.36 million. The NNN-leased Georgetown property was built this year. PRG Investments’ Reed Weinberg and Fred Sutterlin represented the buyer; Josh Veetjner of GVA Kidder Matthews represented NPC International.
STOW, OHIO — The Akron, Ohio, office of NAI Cummins has completed the sale of a 2.5-acre land parcel located in Stow. The property is situated on Kent Road, adjacent to Hollywood Video and Super Target. The buyer, Pacific Bells Corp., plans to construct a Taco Bell restaurant in the near-term and possibly save part of the site for future development. NAI’s Jeff Davis and David Kaplan represented the private seller. Daniel Clark of Goodman Real Estate represented the buyer.
EXETER TOWNSHIP, PA. — Exeter Commons, a 490,000-square-foot retail center, has opened in Exeter Township. The center is located at the intersection of Business Route 422, Bypass Route 422 and 47th street. A 132,000-square-foot Target and an 81,000-square-foot Giant Foods have already opened their doors, and a 171,000-square-foot Lowe’s Home Improvement is slated to open in October. Additional retailers now open for business include Sonic, Sleepy’s, Five Below, Red Robin, Chick-Fil-A, PETCO, Famous Footwear and America’s Best Contacts & Eyeglasses. Other tenants set to open this month include Five Guys Burgers & Fries, T-Mobile, GameStop and Supercuts. September openings include Staples and Affinity Bank. A Wachovia branch is set to open in late October or early November. The retail center is being developed by a joint venture between The Goldenberg Group and Ironwood Property Group. Construction on the $75 million project commenced in April 2008 and was completed on schedule. The center is currently 96 percent leased.