MANASSAS, VA. — A joint venture among Potomac Capital Advisors, Baltimore-based Alex. Brown Realty and Bethesda, Md.-based Spectrum Partners has acquired the 176,000-square-foot Westgate Plaza Shopping Center from Principal Real Estate Investors for $25 million. The property, which is anchored by Giant Foods and Barnes & Noble Booksellers, is located at 8139 Sudley Rd. in Manassas. Additional tenants include Panera Bread, Pier 1 Imports, Ruby Tuesdays and Total Wine & More. Spectrum represented itself in the transaction.
MIAMI — Fort Lauderdale, Fla.-based Moss & Associates has completed construction of two Publix stores in Miami. A 31,000-square-foot store in Mary Brickell Village, located on South Miami Avenue, has been built in an existing parking structure. Moss & Associates has also finished a 39,000-square-foot prototype building in the Coral Way section of Miami. This project necessitated new site drainage, lighting and asphalt pavement.
LOCKPORT, ILL. — Stan Johnson Co. has brokered the sale of an 8,064-square-foot retail store to an individual investor for $2.55 million. Located on 1.86 acres in Lockport, the freestanding store is occupied by National Tire & Battery. Gill Warner, Rod Pickney and Chad Byerly of Team Warner of Stan Johnson Co. represented the seller, a retail developer. Town & Country GMAC Real Estate represented the buyer in the transaction.
UNION COUNTY, N.J. — CB Richard Ellis' Private Client Group (CBRE) has completed the $1.215 million sale of two bank facilities in Union County. One facility, located at 2 North Ave. in Cranford, is a 14,361-square-foot, three-story office facility, which includes a bank on the first floor. The property is zoned as B1 Business and is a landmark building in downtown Cranford. Amenities include elevator service, palladium windows and a recently upgraded façade. The second facility, located at 460 Park Ave. in Scotch Plains, is an 11,319-square-foot, two-story office property, which has a bank on the first floor. The building is located downtown amid restaurants, offices and shopping and offers amenities such as parking and mixed-use office and retail. CBRE's Dean Marchi and Gehane Triarsi represented the seller, Gramercy Capital, in this transaction. A real estate company bought the Cranford bank, and a local buyer purchased the Scotch Plains bank.
MANCHESTER, N.J. — Summit Realty has broken ground on a new Quick Chek Convenience Store with Gas at the intersection of Route 70 and Ridgeway Road in Manchester. The 5-acre site will include a 5,500-square-foot building and eight gasoline dispensers. In addition, Robert Delia of Summit represented both the landlord and tenant in the transaction, and he is serving as project manager for the approval process and construction of the project. The project is slated for completion in November.
PHOENIX, ARIZ. — Phillips Edison & Co. has purchased the 170,801-square-foot Village Center retail property from a private party for an undisclosed amount. The development, located on East Cactus Road in Phoenix, is anchored by Target and shadow-anchored by REI. Lenscrafters, Subway, Great Clips and Half Price Books are also housed in the property, which is 85.36 percent occupied.
SANTA ANA AND TUSTIN, CALIF. — Courageous Kauai has sold a 16,536-square-foot retail property to 17th Street LLC for $3.5 million. Located at 702 to 818 W. 17th Street in Santa Anna, the development encompasses five freestanding buildings, anchored by Pizza Hut and 7-Eleven. Mark Sigler of Voit Real Estate Services’ Irvine, Calif., office represented the seller, and Apex Properties represented 17th Street LLC. Voit has also brokered Sayara K1’s purchase of a 10,000-square-foot retail development, located on 1st Street in Tustin, from CPH SAHI for $1.2 million. Gil Marrero, Pete Beauchamp, Alan Pekarcik and Dan Vittone of the firm’s Irvine office represented the seller. Bob Pettis, also of the firm’s Irvine office, represented the buyer.
MONTGOMERY, ALA. — Michael Maffia and Bob and Rick Sanner of San Francisco-based NAI BT Commercial have represented an undisclosed party in the sale of a 75,000-square-foot retail building to an undisclosed buyer for $9.4 million. The property, located at 8610 Eastchase Parkway in Montgomery, is fully occupied by Academy Sports.
WEST BLOOMFIELD, MICH. — The Beale Group has brokered the sale of Bloomfield Avenue Shoppes, a 58,000-square-foot retail center located at 6041-6199 Haggerty Rd. in West Bloomfield. The property was purchased by Bloomfield Shoppes I LLC; the seller was undisclosed. Steven Beale, Greg Newman and Steve Shamoun of The Beale Group represented both parties in the transaction and helped secure funding for the purchase. The Beale Group will also continue to lease the center and has been selected to provide management services as well.
SPRING, TEXAS — Stan Johnson Co. (SJC) has completed the sale of a 13,013-square-foot, freestanding CVS/pharmacy, located in Spring. The building is situated on 1.82 acres at 8754 Spring Cypress Rd. Hunter Jaggard and Daniel Herrold of SJC’s Houston office represented the seller, Houston-based Gulf Coast Commercial Group. Steve Weiss of Baltimore-based Colliers Pinkard represented the buyer, a Maryland-based individual investor. The acquisition price was not disclosed.