SAN DIEGO — Stadium View LLC has purchased a 3,772-square-foot lot, which is located at 650 11th Ave. in downtown San Diego, for $1.5 million. The property includes a 9,270-square-foot three-story building that is occupied by Volunteers of America. The land is currently zoned for residential and retail use. Cotton-Ritchie Realtors represented the buyer; Doug Matheson of CB Richard Ellis represented the seller, 650 11th Avenue LLC, in the transaction.
ZEPHYRHILLS, FLA. — Primerica Group One has completed the development of its 104,477-square-foot Zephyr Commons Shopping Center. The $7.5 million property is located on Highway 301 in Zephyrhills. Publix anchors the shopping center, which was constructed by Tampa Bay, Fla.-based Hawkins Construction.
OLDSMAR, FLA. — Hawkins Construction of Tampa, Fla., has completed a 25,000-square-foot Goodwill Superstore at 3929 Tampa Rd. in Oldsmar. The $3 million property was built for Goodwill Industries-Suncoast. St. Petersburg, Fla.-based The Sembler Company will manage the development, and Lyman Davidson Dooley of Tampa designed the property.
PITTSBURGH — Five Below, a value retailer geared toward teens and pre-teens, has signed a lease for its 100th store and its first in the Pittsburgh market. The new store, which will be located in the Waterworks Shopping Center on Freeport Road, is slated to open in November. The retailer also has plans to open three more locations in Butler, Cranberry and Altoona, Pennsylvania, next year. With the signing of the lease for its 100th store, Five Below will operate in nine states on the East Coast, from New Hampshire to Virginia. The company plans to open 10 to 15 additional stores in the Pittsburgh market and grow to more than 200 total locations over the next 2 years. In addition, Five Below is evaluating new markets from New York, Ohio and North Carolina, among others, for entry.
HAMMOND, LA. — Target has opened a 127,380-square-foot store at the Hammond Square development on U.S. 51 Business in Hammond. The store features Target’s new P-Fresh concept, which highlights produce, meat and bakery offerings. Also included in the property are a pharmacy and a Starbucks Coffee. When complete, the 860,000-square-foot Hammond Square power center will also include JC Penney, Dillard’s, Sears, AMC Theatre, Best Buy, Books-A-Million and Rite Aid, among other national tenants.
MIAMI AND ORLANDO, FLA. — Fort Lauderdale, Fla.-based Morgan Property Group has completed construction of two Walgreens stores in Florida. One store is located at the intersection of Bird Road and Hibiscus Street in Miami, and the other new property is located at the intersection of Semoran Boulevard and Auvers Boulevard in Orlando. Both developments are relocations of nearby stores.
SILVER SPRING, MD. — U.S. Retail Partners has borrowed a $7.5 million loan for its 65,000-square-foot Woodmoor Shopping Center. Tenants in the property, which is located on Colesville Road in Silver Spring, include CVS/pharmacy, Tuesday Morning, Bank of America, Starbucks Coffee and Subway. RiverSource Life Insurance Co. financed the 10-year loan, which carries a 25-year amortization schedule. Christopher Feeley and Jason Smith of NorthMarq Capital’s Washington, D.C., office and Joel Coykendall of the firm’s Jacksonville, Fla., office arranged the loan.
PHILADELPHIA — Target has opened five new stores in the Philadelphia area totaling more than 650,000 square feet of retail space. The stores are located Cheltenham Square in Cheltenham; Upland Shopping Center in Pottstown; Exeter Commons in Exeter; Lower Nazareth in Easton; and Airport Plaza in Allentown. Each of the new stores will feature expanded grocery sections, a Starbucks Coffee and a Target Pharmacy. Steve Niggeman, Tom Londres and Mark Gerlach of Metro Commercial Real Estate negotiated the leases for all five locations.
DEDHAM, MASS. — The grand opening has been held for a new L.L. Bean retail location at Legacy Place in Dedham. The two-level store totals 30,000 square feet and has received LEED-Gold certification. Legacy Place is a 675,000-square-foot shopping center that officially opens at the end of August. Additional tenants at the center include Whole Foods Market, Showcase Cinema de Lux, Borders, and more. The project is being developed by Chestnut Hill, Mass.-based WS Development.
BEL AIR, MD. — SECU has purchased land for a 4,500-square-foot bank branch from Park Centre/Plumtree LLC for $1.85 million. The branch will be built in the Park Centre development, which is located at the intersection of Plumtree Road and Route 24 in Bel Air. The new bank branch will open early next year. Chris Bennett of Columbia, Md.-based Manekin represented SECU, and the firm’s Joe Bradley represented the seller.