ORLANDO, FLA. — C.T. Hsu + Associates has completed the renovation and rehabilitation of Airsides 1 and 3 at Orlando International Airport in Orlando. The 24/7 airline operations and passenger service continued without interruption during the $197 million renovation project. Project partners include Aviation Authority, Hensel Phelps Construction Co., the airlines and airport tenants.
CLEVELAND — The former Lincoln-Mercury Dealership, located at 6700 Rockside Road in Cleveland, is being redeveloped into a retail center named Liberty Commons. The 24,792-square-foot center will be occupied by Panera Bread, Dibellas Old Fashioned Submarines and Key Bank. The center is expected to open in spring 2011. The 4.6-acre property was sold to an undisclosed local developer. Armand Aghajanian of CRESCO Real Estate represented the seller, Liberty Investment Group, in the transaction. The sales price was not released.
CAPITOLA, CALIF. — Terranomics Retail Services has negotiated Target Corp.’s purchase of a 98,120-square-foot former Gottschalks’ store, located at 1825 41st Ave. within the Capitola Mall in Capitola. The sale price was not disclosed. Subsequent to being vacated by Gottschalks in mid-2009, the building returned to the lender after a loan default by the previous owner. Terranomics’ Matt Kircher represented the buyer in the transaction; the seller was LNR Partners LLC.
LAS VEGAS — Faris Lee Investments has completed the $1.835 million sale of a 2,857-square-foot Jack in the Box, located at 9360 W. Tropicana Ave. in Las Vegas, to San Diego-based A. Mashayekan Trust. The fast-food restaurant property was built in 2002. Faris Lee’s Jeff Conover represented the seller in the all-cash transaction.
HENDERSONVILLE, N.C. — A Florida-based buyer has purchased Walgreens Pharmacy #10886 in Hendersonville. Located at 1148 Asheville HIghway, the 15,371-square-foot retail property sold for $5.03 million. Allen Smith of Marcus & Millichap's Charlotte, N.C., and Larry Curry of the firm's Tampa, Fla., represented the buyer in the transaction. The seller was not disclosed.
ST. CLOUD, FLA. — NAI Realvest has brokered the sale of Buffet City restaurant and its 2.02-acre site, which is located at 4551 13th St. in St. Cloud. Local investment firm Sun Valley Eastern Investments acquired the 10,523-square-foot property for $1.49 million. Paul Partyka of NAI Realvest represented the seller, Sooner Investment or Sooner St. Cloud LLC of Melbourne, in the transaction. NAI Realvest's Kevin O'Connor and Matt Cichocki represented the buyer.
KANSAS CITY, MO. — NorthMarq Capital's Denver office has arranged $7.25 million in financing for North Oak Marketplace, which is located at 4820-4914 North Oak Trafficway in Kansas City. Built in 1970 and remodeled in 2004, the property offers 154,651 square feet of retail space. Current tenants include Price Chopper, Goodwill Industries, Big Lots, Cici's Pizza, Jackson Hewitt and Quiznos. John Stewart and Brock Yaffe of NorthMarq arranged the financing for the undisclosed borrower.
SAN BERNARDINO, CALIF. — National Equity Advisors has handled the $10.95 million sale of Westside Plaza, a 93,129-square-foot shopping center located at 1554-1594 W. Base Line Street in San Bernardino. Built in 1995, Westside Plaza includes national tenants such as CVS/pharmacy, the U.S. Postal Service, Burger King and Little Caesars Pizza. National Equity Advisors’ Enrique Wong represented the seller, Westside Plaza LLC, in the all-cash transaction involving a California investment buyer.
CORAL SPRINGS, FLA. — Drew Kristol and Kirk Olson of Marcus & Millichap's Miami office represented a Miami-based company in the disposition of the Gardens of Miami Center. Located on Miami Gardens Drive in Miami, the 52,670-square-foot shopping center sold for $4.35 million. The two-story center was 50 percent occupied at the time of closing. The buyer was not released.
MECHANICSVILLE, VA. — Morgan Property Group (MPG) is developing a free-standing Walgreens drugstore at the southeast corner of Mechanicsville Turnpike and Lee Davis Road in Mechanicsville. The 14,470-square-foot location is expected to open during the third quarter of 2011. This is the 17th Walgreens developed by MPG in Virginia.
