BEVERLY HILLS, CALIF. — Hong Kong-based Allied Golden has purchased an 11,333-square-foot retail property, which is located at 414 N. Rodeo Dr. in Beverly Hills, for $28 million. The property is currently leased to Hugo Boss. Orbell Ovaness of National Equity Advisors Inc. represented the seller, Spain-based Llardo, in the transaction.
MEDFORD, ORE. — A private investor has acquired A-1 Secured Storage, a 47,065-square-foot self-storage facility located at 1011 Narregan St. in Medford. The property consists of eight buildings and offers 252 storage units. Joel Deis, Michael Morgan, Christopher Secreto and Tony Cassie of Marcus & Millichap represented both parties in the transaction. The seller was not disclosed.
MIAMI — Orlando, Fla.-based Keene Construction Co. is eyeing a November completion of the 67,931-square-foot Promenade at Silver Palm shopping center, located at the intersection of Southwest 232nd Street and Southwest 112th Avenue in Miami. The property, which was designed by Coral Gables, Fla.-based Alleguez Architecture, is anchored by a 46,031-square-foot Publix.
CHICAGO — Cohen Financial has arranged $23 million in non-recourse financing for a newly opened Whole Foods located in Chicago’s Lincoln Park neighborhood. The three-story, 85,301-square-foot grocery store is situated on 3.16 acres at 1550 N. Kingsbury St. It is the grocer’s third largest location, behind flagship stores in Austin, Texas, and London. It was developed by CRM Properties Group and designed by Gensler. Joel Simmons of Cohen arranged the loan, which includes a 5-year term and a fixed interest rate. The lender was Milwaukee-based TCF National Bank.
VINCENNES, IND. — A 12,414-square-foot shopping center shadow-anchored by a Walmart has been sold in Vincennes. Situated on 1.84 acres at 630 Kimmel Rd., the property is tenanted by Verizon Wireless and Sun Tan City. Christopher Hake of Thompson Thrift represented the seller, Old National Bank. Ryan Sarbinoff of Marcus & Millichap represented the buyer, Kimmel Square LLC. The acquisition price was not disclosed.
SOUTHINGTON, CONN. — Jones Lang LaSalle (JLL) has brokered the sale of Queen Plaza, 172,000-square-foot shopping center located in Southington. The property is anchored by TJ Maxx and Bed Bath & Beyond; additional tenants include Bob’s Discount Furniture, Dollar Tree, Fashion Bug and Radio Shack. Occupancy was 97 percent at the time of closing. The buyer, R.K. Associates, has subsequently renamed the property RK Queen Plaza. JLL brokers Jim Koury, Nathaniel Heald and Robert Borden represented the seller, Centro Properties Group, and procured the buyer. The acquisition price was not disclosed.
ROCKLEDGE, PA. — Conshohocken, Pa.-based Equity Retail Brokers has completed the sale of a 38,000-square-foot neighborhood shopping center located in Rockledge. Situated on approximately 2.25 acres at 410-412 Huntingdon Pike, the center is anchored by Blockbuster Video; additional tenants include Pennsylvania Wine & Spirits, Acker’s Hardware and Vincent’s Pizza. Bart Delfiner and Edward Ginn of Equity Retail Brokers represented the undisclosed seller. Good Rock Realty Partners purchased the center and plans to continue day-to-day operations.
LOS ANGELES — Ryan Noto Ventures has purchased a 14,270-square-foot building from Seward Property Investments for $4.3 million. The property is located at 712 Seward St. in Los Angeles. Klabin Co./CORFAC International’s Keith Fielding represented the buyer, and Grubb & Ellis’ Martin McDermott represented the seller.
BOYERTOWN, PA. — Retail Sites LLC has started construction on Douglass Town Center, a 90,000-square-foot shopping center in Boyertown. The project is located on an 11-acre site at the intersection of Route 100 and County Line Road. Tenants include a 70,000-square-foot Giant Foods Supermarket, a Hallmark Gold Crown Card store, Hair Cuttery and a dry cleaner. This will be Giants second new store in the Route 100 corridor. Three to four additional stores and an out-parcel for a bank or restaurant are also available. Additional improvements include a significant realignment and reconstruction of County Line and Holly Roads.
EXETER, N.H. — The Kane Company has completed the sale of a 2-acre lot located in the Garrison Glen Corporate Park at 7 Continental Dr. in Exeter. The land was purchased by Holding Court, LLC from Garrison Glen, LLC. The new owner plans to develop the property into an indoor tennis facility. Peter Billipp and Lisa Kane of The Kane Company represented the seller and Florence Ruffner of Ruffner Real Estate represented the buyer. The sale price was not disclosed.