RICHMOND, VA. — Alexander Enterprises-1 has sold a 16,813-square-foot retail property to Michael D. Sifen Inc. for $1.2 million. Located at 4300 W. Broad St. in Richmond, the building sits on 2.71 acres and is home to a Budget Rent-A-Car store. The buyer plans on redeveloping some of the space, keeping the tenant on site. Thalhimer’s Bruce Bigger and Millard Jones brokered the sale.
Retail
BATTLEFIELD, MO. — Chambers Real Estate Services has brokered the sale of a 32-acre land parcel located at the corner of state highways M and FF in Battlefield. The buyer, Larino Properties, plans to develop the site into a grocery-anchored shopping center named Wilson Creek Marketplace. The anchor tenant will be a 52,000-square-foot Price Cutter. The construction timetable for the project was not disclosed.
CHARDON, OHIO — The Silver Group has completed the sale of a single-tenant, un-subordinated ground lease located in Chardon. The 1-acre parcel is an outlot of Meadowlands Town Center. It is occupied by the bank Home Savings under a 22-year, absolute net agreement. The Silver Group was the sole broker in the transaction between the two undisclosed parties. The sale price was $800,000.
NEW YORK CITY — Kalmon Dolgin Affiliates (KDA) has arranged a 26,000-square-foot retail lease in Brooklyn, New York City, on behalf of grocer Olive Gourmet. The space is located within a three-story, 145,000-square-foot office building at 1630 E. 15th St. The lease contains a 25-year term, and the asking rental rate was $32.50 per square foot. Robert Klein, Grant Dolgin and Gary Mayzlin of KDA represented building ownership, Kingswood Partners.
GALLIPOLIS, OHIO — Columbus, Ohio-based Cooper Commercial Investment Group has brokered the sale of Gallipolis Marketplace, a 25,950-square-foot retail property located in Gallipolis. Situated at 2145 Eastern Ave., the building is shadow-anchored by Walmart Supercenter. Tenants at the center include GameStop, Fantastic Sam's, AT&T, Radio Shack, Sally Beauty Supply, Dollar Tree and others. Dan Cooper of the Copper Group represented the seller, Developers Diversified Realty Corp. The acquisition price was not disclosed but the property traded at an 8.75 percent cap rate.
MONTGOMERY, ILL. — Inland Real Estate Brokerage has negotiated the sale of a 12,903-square-foot retail center located in Montgomery. The three-tenant property, which is situated near the intersection of Route 30 and Douglass Road, is currently occupied by a Merlin's Muffler and Sound Experience. The buyer, a Chicagoland investor, plans to bring in an auto repair shop as the third tenant. Rich Artman of Inland's Yorkville, Ill., office represented the buyer as well as the seller, a REIT. The property traded for $720,000.
OAHU, HAWAII — Honolulu-based A&B Properties has acquired the 113,800-square-foot Waipio Shopping Center from an undisclosed party for an undisclosed price. The property is located across the street from the Central Oahu Regional Park in the Waipio master-planned community in Oahu. Developed in the 1980s, the center is anchored by Foodland Supermarket and houses Outback Steakhouse, Pizza Hut, Taco Bell and Big City Diner. Waipio Shopping Center is 99 percent leased.
DRAPER, UTAH — GRH Kaysville and Halker Properties have sold a 14,820-square-foot Walgreens to a private buyer for $5.45 million. The property, which is located at the intersection of Bangerter Highway and South Street in Draper, was built in 2009. Yubin Tao of Investment Real Estate Associates’ Encino, Calif., office brokered the sale.
PHOENIX — Strategic Storage Trust has purchased a 520-unit self-storage property from a private seller for $2 million. The 38,750-square-foot facility is located on 1.4 acres at 727 W. Missouri Ave. in Phoenix. The acquisition is part of a two-property portfolio that includes a facility in Montgomery, Ala.
FORT PIERCE, FLA. — Blue Beacon International has purchased a 4.41-acre outparcel from Flying J for $401,000 and will develop a truck washing facility on the land. The site is located on Orange Avenue in Fort Pierce. Flying J is selling its excess holdings nationwide as part of its bankruptcy plan. Stuart, Fla.-based NAI Southcoast’s Boyd Bradfield and Nikolaus Schroth represented Flying J in the transaction.