HANOVER, PA — Marcus & Millichap has arranged the sale of two single tenant net leased properties in Hanover. The transaction included two outparcels at North Hanover Mall, a Panera Bread franchise and a People’s Bank branch office. Both properties are subject to 10-year absolute net ground leases with rent increases every 5 years. North Hanover Mall is a 365,216-square-foot mall anchored by Dick’s Sporting Goods, Sears, JC Penney and a new Boscov’s. The sales price of $1.95 million represents an 8.45 percent capitalization rate on existing income of both properties. Derrick Dougherty, Mark Taylor and Dean Zang of the Philadelphia office of Marcus & Millichap represented the buyer, Outer Banks L.P. The seller, Preit-Rubin OP, Inc and PR Financing, LP, was represented by Joseph Odom of Stan Johnson.
ANAHEIM, CALIF. — The Mother Colony Group LLC has purchased Anaheim RV Village, a 293-site, 3-star RV resort in Anaheim. The property sold for $10 million, which included the 1.66-acre commercial corner at the intersection of Ball Road and Harbor Boulevard. The 9.27-acre property offers 274 RV lots with drains, 19 campsites with a full amenity package and a signal-controlled commercial corner with two retail rental units. Don Nourse of CB Richard Ellis represented the buyer; Douglas Danny of Marcus & Millichap represented the seller, WB Parc Anaheim LLC, in the transaction.
RIVERSIDE, CALIF. — Third Street Plaza LLC has acquired the fee-simple ownership in the land leased to a single-tenant triple-net Fresh & Easy Neighborhood Market in Riverside. Newport Beach, Calif.-based HEC-Orangecrest LLC sold the property for $2.47 million. The 14,500-square-foot freestanding building is located at 8765 Trautwein Rd. within Orangecrest Towne Center. Fresh & Easy is a subsidiary of United Kingdom-based Tesco. A.J. Nay and Kurt Schneiter of Maverick Investments represented the buyer; Edward Hanley and William Asher of Hanley Investment Group Real Estate Advisors represented the seller in the transaction.
SALEM, VA. — Centro Properties Group has sold the 82,033-square-foot Lakeside Place Shopping Center to an undisclosed Tennessee-based buyer for $6.8 million. Kroger anchors the 25-year-old property, which is located at 161 Electric Rd. in Salem. Additional tenants include CVS/pharmacy, Subway and H&R Block. The shopping center is 90 percent leased. Tony D’Ambrosio and Joe Montgomery Atlanta-based Colliers Spectrum Cauble represented the seller.
WESTVILLE, ILL. — Marcus & Millichap has arranged the sale of an 8,540-square-foot CVS/pharmacy situated in western Illinois for $950,000. The single-tenant, net-leased property, which is located at 111 N. State St. in Westville, has strong store sales and approximately 6 years remaining on a 20-year lease. Christopher Thomson, based in Marcus & Millichap’s Columbus, Ohio, office listed the property on behalf of the seller, a private investor. The firm’s John Przybyla assisted in the closing of the transaction.
AURORA, COLO. — Jon Hendrickson and Garrette Matlock of Marcus & Millchap’s Denver office represented Muffin Associates in the disposition of Smoky Hill Shoppette. Located at 15271-15285 Smoky Hill Rd. in Aurora, the 9,702-square-foot retail property sold for $1.62 million. The seven-tenant property was 100 percent occupied at the time of acquisition. Barry Higgins and Taylor Turano, also of Marcus & Millichap, represented the undisclosed buyer in the transaction.
PLANT CITY, FLA. — Southeast Plant City has sold the 85,252-square-foot Plant City Crossing shopping center to Fraga Development Corp. for an undisclosed amount. Located at the intersection of Interstate 4 and Thonotosassa Road in Plant City, the center is anchored by a 37,860-square-foot Publix. Cato, Dollar General, Little Caesar’s Pizza, Supercuts, H&R Block and Blockbuster Video are also housed in the property. Anthony Blanco, Lenard Williams and Jim Michalak of Plaza Advisors represented the seller.
ST. PETERSBURG, FLA. — Wilson Enterprises has sold the 33-unit Sans Souci apartment complex to a private family trust for $1.4 million. The property is located in downtown St. Petersburg. James Barnett of Tampa, Fla.-based J A Barnett Realty Group represented the seller. David Parker of Keller Williams Realty’s Largo, Fla., office represented the buyer.
NEENAH, WIS. — Marcus & Millichap has brokered the sale of Gateway Center, a 34,950-square-foot, bank-owned retail property located at 1575 Plaza Dr. in Neenah, for $2 million. Tenants at the property include Curves, Sidelines Bar & Grill, St. James Lounge and Comedy Quarter. Evan Halkias, Michael Marks and Matthew Fitzgerald of Marcus & Millichap’s Chicago Downtown office represented the seller. The buyer, a private investor, plans to reposition the property and lease its vacant space.
BEDFORD, TEXAS — Henry S. Miller Brokerage (HSMB) has completed two retail leases. In Bedford, Tuesday Morning signed a lease for 16,166 square feet at Harwood Shopping Center, an 85,931-square-foot neighborhood shopping center located in Bedford. The discount retailer will lease the space formerly occupied by BHC Fitness and plans to open the new location in January 2010. Daniel Harris and Byron Seamands of HSMB’s Dallas/Fort Worth office represented the landlord, Harwood S/C Partners Ltd.; the tenant was represented by Greg Bracchi of Staubach Retail Services.