HENRICO, VA. — DRCC Properties has acquired the former headquarters of Circuit City in Henrico for an undisclosed amount. The sale included the vacant, 288,000-square-foot building known as Deep Run I, as well as 58 acres of land. Deep Run I, which is located at 9950 Mayland Drive, features a full-service cafeteria, approximately 15,000 square feet of data center space and two full-building core atriums. The land purchase includes the 18.5 acres the building is located on and 2 acres leased to a daycare. The remainder of the land is for future development. Eric Robison and Mark Douglas of Thalhimer represented the seller, which was the lender that took the property back from its original owner in 2009.
Retail
SUWANNEE, GA. — An affiliate of USAA Real Estate Co. has acquired a grocery-anchored shopping center in Suwannee from an affiliate of Marietta, Ga.-based Columbia Properties. Village Shoppes at Windermere is a 74,403-square-foot retail property. Its anchor is Publix, and the the remaining tenants comprise casual restaurants, salons and professional offices. Occupancy was nearly 100 percent at the time of closing. Columbia Properties will continue to manage the center. The purchase price was not disclosed.
SAN DIEGO — Cresta Verde Inc. has purchased a 6,886-square-foot, multi-tenant retail building, located at 350 University Ave. in San Diego, from Southrail Equities LLC and CAM 350 Group LLC for $4.15 million. Cassidy Turley BRE Commercial’s Chuck Klein and Kevin Held represented both the seller and the buyer in the transaction, with the brokerage firm’s Rick Reeder representing the seller as well.
THE WOODLANDS — A 1,400-square-foot Subway restaurant has opened at Windvale Shopping Center at College Park Drive and FM 1488 Road in The Woodlands. Centro Properties Group owns the shopping center and was represented by its own Crystal Childs in the lease transaction.
CHICAGO — The Boulder Group has completed the sale of a CVS/pharmacy ground lease, which is located at 6355 W. Belmont Ave. in Chicago. A New York-based institutional real estate company acquired the single-tenant, net-leased property for $3.6 million. The property is 100 percent leased to CVS/pharmacy on a long-term lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago-based private developer, in the transaction.
NEW YORK CITY — Off-price retailer Syms has signed a lease for 34,000 square feet of retail space in Manhattan for its new flagship location. The space is located at 530 Fifth Ave. It will be a joint store with Filene's Basement, which the company acquired in 2009. The store will consist of 6,500 square feet on the ground floor, 9,500 square feet on the lower level and 18,000 square feet on the second floor. Darrell Rubens and Lori Shabtai of Winick Realty Group represented the landlord, The Moinian Group, in lease negotiations.
MCPHERSON, KAN. — Oklahoma City-based MCPHSN LLC has completed the disposition of Plaza East Shopping Center in McPherson. Located at 2210 E. Kansas Ave., the 72,329-square-foot retail center was purchased by New York-based Cedar Hill Realty LLC for $3.65 million. The property is currently occupied by Hibbett Sports, Orscheln Farm & Home and Hutchinson Community College. Jason Little and Daniel Morris of Canopy Commercial | Auction, along with Gib Kerr of Sperry Van Ness | Gibson Kerr Company, represented the seller; Little also represented the buyer in the transaction. Mary Gardner and Michelle Roberts of Lawyers Title Company's Oklahoma City office provided title and escrow services for the transaction. Acquisition financing was provided by Bryan Geiger of Bank of Oklahoma NA.
EL PASO — The city of El Paso plans to tear down the old Northpark Mall for a new bus terminal and possible retail and condominium space. The city purchased the 23-acre property that includes the shopping center and its parking lot for $6 million. Located at 9530 Dyer, the mall opened in the 1960s with more than 50 stores. However, only Allstate Insurance, The Crystal Ballroom and Furniture Factory Warehouse remain in business today at the location.
MARIANNA, FLA. — An Arizona-based company has purchased Oak Station, a retail property in Marianna. Built in 1989, the 171,509-square-foot is located at 4700 Highway 90. Dorothy Jackman and Ron Schultz of Marcus & Millichap's Tampa, Florida, office represented the Florida-based seller. Terms of the transaction were not disclosed.
CORONA, CALIF. — Faris Lee Investments has completed two sales within The Shops at Sycamore Creek in Corona. Represented by Grubb & Ellis’ Skip Crane in an all-cash transaction, Knaak Family Partnership purchased the Vons fuel station for $2.13 million. Represented by Faris Lee’s Nick Coo, Los Angeles-based YFP Sycamore Creek LLC bought the 12,900-square-foot, stand-alone CVS/pharmacy for $4.93 million, also in an all-cash transaction. Faris Lee’s Dennis Vaccaro and Richard Walter represented the seller, Shops at Sycamore Creek LLC, in the two deals, which completed a three-parcel, break-up strategy totaling $9.66 million. Built in 2008 and 2009, The Shops at Sycamore Creek are situated just off Interstate 15 at Indian Truck Trail Rd.