ROCHESTER HILLS AND NOVI, MICH. — Amsdell Storage Ventures I LLC has acquired two Class A self-storage facilities in Michigan. The portfolio consists of the 160 Avon Road facility in Rochester Hills and the 40900 Grand River Avenue property in Novi. The properties total 134,246 net rentable square feet and offer 1,186 units. Steve Hryszko of CB Richard Ellis represented the seller, MW Tolero Holding Corp., in the transaction. The property will be managed by Compass Self Storage.
TAMPA, FLA. — Crossman & Co. has renovated a 54,340-square-foot Publix at City Plaza in Tampa and will hold a grand opening for the property August 12. The Publix construction happened concurrently with the renovation of the 158,287-square-foot shopping center. The center, located at 16041 Tampa Palms Blvd. in Tampa, is part of the Tampa Palms master-planned development, which will include 8,400 residences, 59,000 square feet of office space and nearly 1 million square feet of retail upon full build-out.
HOFFMAN ESTATES, ILL. — Schaumburg-based RMS Properties has acquired Hoffman Village Shopping Center in Hoffman Estates. Located at the corner of Gold and Barrington roads, the 158,313-square-foot retail property is occupied by Dominick’s, The Putting Edge, Dunkin’ Donuts/Baskin Robbins, GNC, Insure One, Fannie May, Check ‘N Go, State Farm and Radio Shack. Ben Wineman, Stan Nitzberg and Joe Girardi represented the undisclosed seller in the transaction. Terms of the deal were not released.
HAVERHILL, MASS. — Marcus & Millichap has brokered the sale of a CVS/pharmacy in Haverhill for $6.47 million. The property totals 11,970 square feet and is located at 150 Lafayette St. CVS has 23 years remaining on its lease with six 5-year extension options. The property traded at a 7.7 percent cap rate. Robert Horvath, Todd Tremblay and Al Taf of Marcus & Millichap represented the seller, Hecht Development. Horvath and Tremblay also procured the buyer, Quadrant Haverhill Real Estate.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of a 9,244-square-foot shopping center between two private parties for an undisclosed amount. The 6-year-old Golden Beach Marketplace is located at 4516 Golden Triangle Blvd. in Fort Worth. The center is fully occupied and is shadow-anchored by Albertsons. The firm's Tommy Tucker brokered the sale.
LA CAÑADA, CALIF. — A partnership of private individuals has acquired Foothill Promenade, a 42,093-square-foot shopping center located at 475 Foothill Blvd. in La Cañada. Redwood City, Calif.-based Dollinger Properties sold the property for $16 million. The 2.75-acre center is occupied by Trader Joe’s, Union Bank, Petco, Aaron Brothers, Starbucks and Han’s Beauty. Built in 1995, the property was 100 percent occupied at the time of acquisition. William Asher of Hanley Investment Group, Jim Barthe of Pasadena, Calif.-based Real Estate Portfolio Specialists, and Paul Strauss and Nathan Strauss of Monrovia, Calif.-based ASB Property Management represented the buyer in the transaction.
NEW YORK CITY — Eastern Consolidated has brokered two Manhattan deals. First, the 8,426-square-foot retail component of Devonshire House, a condo tower located at 28 E. 10th St. in Greenwich Village, traded for $10.35 million. The street-level retail spaces average 605 square feet each, and the property includes 3,584 square feet of cellar space shared by six of the units. Occupancy was 100 percent at the time of closing. The Eastern Consolidated team of Ronald Solarz, Eric Anton, Brian Ezratty and Deborah Gutoff represented the seller, Devonshire Associates LLC, and procured the undisclosed buyer. In the second transaction, a six-story, 48-unit residential building located in West Harlem at 315 W. 115th St. traded for $6.7 million. The property is rent stabilized and fully occupied. Peter Carillo and Lipa Lieberman of Easter Consolidated represented the seller, West 115th Realty LLC, and procured the buyer, West 115 11-13 Associates LLC.
ARLINGTON, TEXAS — Messina Properties has sold a 162,000-square-foot store that formerly housed a Macy's to a private buyer for an undisclosed amount. The property is located on 14 acres at Six Flags Mall in Arlington and will be redeveloped. Cushman & Wakefield of Texas brokered the sale.
EDEN PRAIRIE, MINN. — RJM Construction has commenced construction on a new Bobby & Steve’s Auto World in Eden Prairie. The 19,000-square-foot building will be located at 8100 Flying Cloud Drive, which is adjacent to Eden Prairie Shopping Center. The new store, named Randy’s Bobby & Steve’s Auto World, is scheduled to open in January 2011. The $4.2 million property will feature a car wash, seven service bays, a convenience store and food service with an outdoor dining plaza, as well as plans for a car museum.
BEE CAVE, TEXAS — United Commercial Realty (UCR) has arranged a lease within Bee Cave's Hill Country Galleria on behalf of Parmida Home. The furnishings retailer will occupy 10,500 square feet within the shopping center. It will be the company's second location in Texas. Dean Vandergriff of UCR's Austin office arranged the deal between Parmida Home and the landlord, Galleria Texas LLC.