HOLDEN BEACH, N.C. — The Boulder Group has completed the disposition of a Walgreens property in Holden Beach. The property is long-term leased to Walgreens, with 24 years remaining on the term. A Chicago-based private investor acquired the property for $4.4 million in a 1033 exchange. The seller was a North Carolina developer. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction.
BOCA RATON, FLA. — Thomas D. Wood and Company has secured financing for Bayrock Portfolio, a portfolio of six single-tenant restaurants and banks throughout five states. The 5-year $9.49 million loan has a variable interest rate and a loan-to-value of 60 percent. The portfolio includes major tenants such as Burger King, McDonald's, Capital One Bank and SunTrust Bank. Patrick Madore of Thomas D. Wood and Company secured the financing through the company's relationship with a local bank.
JUNEAU, WIS. — Capitol Real Estate Juneau has acquired a 28,717-square-foot shopping center in Juneau. Located at 100 S. Western Ave., the 7-year-old retail center is occupied by Piggly Wiggly, Edward Jones and Subway. T. Rectangle Properties sold the 90-percent occupied center for $3.1 million. Steve Doran, Blake George and Todd Waller of Lee & Associates’ Madison, Wis., office represented both parties in the transaction.
BRATTLEBORO, VT. — New England Retail Properties (NERP) has brokered the sale of Royal Square, a 103,000-square-foot neighborhood shopping center located in Brattleboro, for $9.2 million. Situated on Putney Road, the center's major tenants include Staples and Peebles. Additional tenants include Dollar Tree, Olympia Sports, Consumer Auto, Label Shopper Sleepy's, two restaurants and an eight-screen movie theater. Matt Halprin of NERP represented the seller, Andover, Mass.-based CA Investment Trust. The buyer was an affiliate of Cambridge, Mass.-based Unison Realty Partners.
PHILADELPHIA — Pennsylvania Real Estate Investment Trust (PREIT) has closed on its previously announced sale of five power centers to Cedar Shopping Centers for $134.7 million. The properties include Creekview Center in Warrington, Pa.; Monroe Marketplace in Selinsgrove, Pa.; New River Valley Center in Christianburg, Va.; Pitney Road Plaza in Lancaster, Pa.; and Sunrise Plaza in Forked River, N.J. The portfolio totals 936,000 square feet of retail space. PREIT is also under contract to sell its 50 percent interests in Red Rose Commons in Lancaster and Whitehall Mall in Allentown, Pa., but that portion of the transaction has not closed. To read the original story, click here.
MCKINNEY — Anna's Linens has signed a lease for 10,000 square feet at Cameron Crossing, which is located at the intersection of highways 380 and 75 in McKinney. David Levinson of The Retail Connection represented the landlord, Covington Cameron Acquisition LLC. Marc Marracco Of The Weitzman Group assisted in the deal.
MONROE, N.C. — RealtyLink LLC has completed the development and disposition of a 4,500-square-foot Verizon Wireless store, which is located on U.S. Highway 74 in Monroe. A Texas-based institutional real estate company acquired the property, which is currently on a 10-year lease with Verizon, for $2.58 million.
MILWAUKEE — Panda Express has signed a lease to open its first free-standing restaurant location in Milwaukee. Located at 1210 Miller Park Way, the 3,035-square-foot restaurant is expected to open in December. John Kardelis of CB Richard Ellis' Milwaukee office represented the tenant. Terms of the lease were not released.
FRISCO — Dallas-based Integral Real Estate Services will break ground today on the 245,000-square-foot Hickory Center at Preston in Frisco. Located at Preston Road and Gary Burns Drive, the regional shopping center is anchored by a 185,000-square-foot Walmart. Scheduled to open in summer 2011, this will be the second Walmart in Frisco
ARLINGTON — The 37,124-square-foot Regions Bank that is within walking distance of Dallas Cowboys Stadium sold. Vincent Knapp of Marcus & Millichap facilitated the sale between the seller, a limited partnership, and an all-cash 1031 exchange buyer.