JACKSONVILLE, FLA. — Abrams Properties has sold the 174,153-square-foot Crossroads Square shopping center to Global Fund Investments for and undisclosed amount. Located at the intersection of Blanding Boulevard and Interstate 295 in Jacksonville, the property is anchored by Floor & Decor, Office Depot, Dollar General and Harbor Freight Tools. Whitney Knoll and Pierce Mayson of The East Coast Retail Investment Team represented the seller.
Retail
MILWAUKEE — New York-based Greystone & Co. has completed the disposition of East Town Plaza, a 24,000-square-foot shopping center in Milwaukee. Located at the corner of Farwell Avenue and Brady Street, the property sold to Chicago-based Monroe Investment Partners for an undisclosed price. The buyer plans to make capital improvements to the property. Patrick Gallagher of Siegel-Gallagher represented the seller in the transaction. The acquisition price was not released.
HENDERSON, NEV. — Colliers International–Las Vegas has negotiated a 240-month, more than $4.4 million NNN lease for a 6,650-square-foot retail property located at 651 Mall Ring Circle in Henderson. R.O.I. Commercial Real Estate’s Brian Sorrentino represented the lessee, Sonoran BBQ LLC, in the transaction, and Colliers’ Scot Marker represented the lessor, Mall Ring Magic.
LAS VEGAS — Marcus & Millichap has handled the $2.5 million sale of the 17,769-square-foot Durango Springs Center, a retail property located at 3585 South Durango Drive in Las Vegas. Built in 1998, the property is situated adjacent to a McDonalds and a Taco Bell. Marcus & Millichap’s John Vorsheck, Ned Zivkovic and Tina Taylor represented both the buyer and seller — a private investor and a limited liability company, respectively — in the transaction.
FLORIDA — Greensboro, N.C.-based Bell Partners has sold three shopping centers in Florida to three private parties for $24.77 million. The 70,070-square-foot Bayside Lakes is located in Palm Bay and is anchored by Publix. The other Publix anchored shopping center, Riverside Market Square, spans 42,448 square feet and is located in Jacksonville. The last store, the 50,000-square-foot Keystone Crossing, is located in Tampa and is anchored by a Sweetbay grocery store. CB Richard Ellis represented Bell Partners in the transactions.
AUSTIN — La Corsha Restaurant Partners of Austin are developing two restaurants, Congress and Second Congress, at The Austonian in Austin. The properties will be located at corner retail space at the intersection of Congress Avenue and Second Street. STG Design is providing architecture services, and Amber Lewis Design is handling interior design. The restaurants are expected to open later this year.
BUCKEYE, ARIZ. — Marcus & Millichap has brokered the more than $4.44 million sale of a 14,820-square-foot Walgreens located at 25073 W. Southern Ave. in Buckeye. The brokerage firm’s Jamie Medress and Mark Ruble represented the seller, a limited liability company, in the transaction.
OMAHA, NEB. — Jo-Ann Fabric and Crafts Stores is opening a 24,100-square-foot location in Omaha. Located at 132nd and West Center Road within Baker Square, the store will feature of variety of merchandise, including fabrics, crafts, frames, paper crafting materials, artificial floral, home accents, and finished seasonal and home décor merchandise. Construction of the new property is scheduled to begin in August, with completion expected in November.
REYNOLDSBURG, OHIO — R Studio, an aerobic exercise facility, has leased 4,043 square feet of space at Brice Park in Reynoldsburg. Terms of the transaction were not released. Avi Abroms of Centro Properties Group provided in-house representation for the landlord, Centro Properties Group.
CHULA VISTA, CALIF. — Cushman & Wakefield has negotiated Jefferson Pilot Investments’ $19.8 million sale of 103,548-square-foot The Shops at San Miguel Ranch located at 2310 – 2350 Proctor Valley Rd. in Chula Vista. Developed in 2007 by McMillin Commercial, the grocery-anchored shopping center is 76.8 percent leased, including tenants Albertsons and Starbucks Coffee. Cushman & Wakefield’s Pete Bethea, Rob Ippolito, Jesse Lowe and David Bradley negotiated the lender sale for JPI; the buyer, MGP IX REIT LLC, represented itself.