DENTON, TEXAS — Stan Johnson Co. has completed the sale of a freestanding Walgreens store located on a 1.73-acre lot in Denton. The 14,820-square-foot building is 100 percent leased to Walgreens Co. Gill Warner, Rod Pickney and Chad Byerly of Team Warner of Stan Johnson Co. represented the seller, a retail developer. The team also represented the buyer, an institutional investor, in the $4.45 million transaction.
Retail
HOUSTON — CB Richard Ellis (CBRE) has brokered the sale of approximately 1.15 acres of land on Yorktown Crossing Parkway in Northwest Houston. CS Copperfield Ventures, LTD, a Buffalo Wild Wings franchise group, purchased the land from Satya, Inc. Matt Keener, Russell Janicek and Mark Raines of CBRE represented the buyer. Josh Jacobs and Chris Pitts of Page Partners represented the seller.
SANTA ANA, CALIF. — Kevin Boeve of Marcus & Millichap represented the undisclosed California-based seller in the $1.65 million disposition of a 1,800-square-foot single-tenant property, which is located in Santa Ana. The property is currently under an 18.5-year triple-net ground lease to Mangen Group, which operates the property as a Burger King. Richard Longobardo and Charles Shillington of Marcus & Millichap represented the undisclosed buyer in the transaction.
NEW JERSEY — Summit Realty has been appointed the exclusive New Jersey broker for Sarku Japan’s new street development program. The national Japanese QSR chain is looking for 1,600- to 2,000-square-foot locations in Northern and Central New Jersey’s top trade areas. Demographic requirements include 35,000 people within 2 miles, and at least 10,000 daytime workers. The restaurant currently serves more than 20 million customers annually at over 200 restaurants nationwide, offering made to order teriyaki and sushi.
SPRING, TEXAS — The J. Beard Real Estate Company has brokered the purchase of a 31,799-square-foot land parcel, located at the intersection of Sawdust and Grogan’s Mill roads in Spring. The buyer, Gera Investments, plans to build a Burger King on the property. Zach Armstrong of J. Beard represented the seller, Woodforest National Bank. The acquisition price was not disclosed.
SOUTH CAROLINA AND NORTH CAROLINA — Developers Diversified Realty has borrowed $16.9 million in financing for two Wal-Mart Supercenters located in Greenville, S.C., and Winston-Salem, N.C. An undisclosed life insurance company financed the two mortgages. Richard Williams and Alex Yates of Medalist Capital’s Charlotte, N.C., office secured the loan.
MADISON, WIS. — Chattanooga, Tenn.-based CBL & Associates Properties has leased two junior anchor spaces at two of its Madison malls. At East Towne Mall, an 840,000-square-foot shopping center located at the intersection of East Washington Avenue, Zeier Road and Lein Road, Forever 21 will open a 37,000-square-foot location this fall. At West Towne Mall, a 915,000-square-foot center located at West Madison Beltline and Gammon Road, Steinhafels Furniture will open a 29,000-square-foot location this week. Both spaces were formerly occupied by Steve & Barry’s, which went out of business earlier this year.
WILLIAMSBURG, VA. — GATS has purchased a 4,780-square-foot Applebee’s restaurant from DBAPPLE for $1.87 million. The property, which was purchased as an investment, is located at 1640 Richmond Rd. in Williamsburg. Thomas Dana of Thalhimer’s Virginia Beach, Va., office brokered the sale.
GARDEN CITY, KAN. — NAI Brannen Goddard has brokered the sale of Garden City Plaza in Garden City for $7 million. Located at 2214 E. Kansas Ave., the 102,648-square-foot shopping center is anchored by Sears and JC Penney. It was 98 percent leased at the time of closing. Ty Underwood and Fain Hicks of NAI Brannen Goddard’s Atlanta office facilitated the transaction. The seller was Centro GA CMBS TI HL LLC, and the buyer was Garden City Plaza LLC.
SPRINGFIELD, N.J. — No Body Denied Health Club has signed a 21,500-square-foot lease to anchor the 66,000-square-foot Echo Plaza shopping center, located at the intersection of Mountain Avenue and U.S. Route 22. Adding No Body Denied is part of a renovation that the owner, Larken Associates, is completing. Ethan Goldsmith of Levin Management Corp. facilitated the transaction for the owner. Joseph D’Agostino of Lance Bram Commercial Brokerage represented No Body Denied.