Retail

HEALTH CLUB OPENS AT NEW JERSEY'S ECHO PLAZA

by admin February 24, 2010

SPRINGFIELD, N.J. — No Body Denied Health Club has opened a 21,500-square-foot anchor location within Echo Plaza, a shopping center located at the intersection of Mountain Avenue and U.S. Route 22 in Springfield. The fitness center includes a cycle studio, group fitness classrooms, a youth sport training zone and childcare areas. No Body Denied will join co-anchor Stew Leonard's Wine & Spirits at the shopping center, which is undergoing a repositioning. Other tenants include Outback Steakhouse, Sherwin Williams, Echoqua Italian Bistro and Chen's 22 Chinese restaurant. Larken Associates is the owner of Echo Plaza and Levin Management Corp. is the leasing agent.

February 24, 2010

JLL ARRANGES SALE OF MASSACHUSETTS REDEVELOPMENT SITE

by admin February 24, 2010

WOBURN, MASS. — Jones Lang LaSalle (JLL) has arranged the sale of a 5.6-acre redevelopment site located at 399 Washington St. in Woburn. The property was previously occupied by the Lannan Buick Pontiac auto dealership. Jim Koury and Nathaniel Heald of JLL represented the seller, Argonaut Holdings, and procured the buyer, Nai Nan Ko. The acquisition price was not disclosed.

February 24, 2010

Retail Texas

FIRM BUYS ARLINGTON WACHOVIA

by admin February 24, 2010

ARLINGTON, TEXAS — An undisclosed private investor has sold a 3,863-square-foot Wachovia to an undisclosed buyer. Wachovia is on the second year of a 20-year ground lease for the property, which is located at 4380 W. Green Oaks Blvd. in Arlington. Philip Levy, Tommy Tucker and Jason Vitorino of Marcus & Millichap's Dallas office represented the seller. Dennis Leslie and Adam Paulsen of the firm's San Diego office represented the buyer. The sale price was not released.

February 24, 2010

Northeast Retail

TRANZON COMPLETES AUCTION OF CONNECTICUT SHOPPING CENTER

by admin February 23, 2010

NORTH BRANFORD, CONN. — Tranzon Integrated Property Group has completed the sale by auction of Central Plaza Shopping Center, a 50,000-square-foot retail property located in North Branford. The property traded for $2.86 million. Andrew Buzzi, Jr., of law firm Buzzi & Terbrusch represented the undisclosed seller. The buyer's name was also not released.

February 23, 2010

Retail Southeast

CONSTRUCTION OF THE FRESH MARKET UNDERWAY IN MIAMI BEACH

by admin February 22, 2010

MIAMI BEACH, FLA. — SIKON Construction of Deerfield Beach, Fla., has broken ground on an 84,000-square-foot grocery project at 1800 West Ave. in Miami Beach. The property was designed by api(+) Architects. The property includes a 28,000-square-foot The Fresh Market store with a two-story parking deck on top. Delivery is expected during the fourth quarter.

February 22, 2010

Retail Southeast

GL COMMERCIAL BUYS SEVEN OUTPARCELS IN SUNRISE SHOPPING CENTER

by admin February 22, 2010

SUNRISE, FLA. — GL Commercial has acquired seven outparcels at the Fountains of Miramar shopping center from a private party for an undisclosed price. The property is located at the intersection of Miramar Parkway and Dykes Road in Sunrise. Four of the outparcels are occupied by Chick-fil-A, JP Morgan Chase, Shell Station and Benihana. Further details of the transaction were not disclosed.

February 22, 2010

Retail Western

TERRANOMICS BROKERS AUTOZONE’S $2.3 MILLION PURCHASE IN BAY AREA

by admin February 22, 2010

REDWOOD CITY, CALIF. — Terranomics Retail Services has brokered Autozone’s $2.3 million owner/user acquisition of an 8,416-square-foot freestanding retail building located at 901 El Camino Real in Redwood City. Terranomics‘s Jon Stansbury and James Gaglione represented the buyer in the transaction, and Cassidy Turley BT Commercial’s Tim Howarth represented the seller, Robert and Dorothy Kissick.

February 22, 2010

Retail Southeast

COLUMBIA SHOPPING CENTER TRADES FOR $4.42 MILLION

by admin February 19, 2010

COLUMBIA, S.C. — Midtown at Forest Acres, a 695,000-square-foot enclosed shopping mall located in Columbia, has been sold. The lender-owned mall traded for $4.42 million, or $6.37 per square foot. Occupancy at the center, which is situated at 3400 Forest Drive, is currently 48 percent. Anchors include Belk, Parisian, Dillard's, Barnes & Noble, Regal Cinemas and TGI Friday's. Bill Kohlhepp of the Fort Lauderdale, Fla., office of Marcus & Millichap and Bill Buford, Jr., of the firm's Clinton, S.C., office represented the seller, Richland Joint Venture Group LLC. Columbia-based R. Leon Jones Realty represented the undisclosed buyer.

February 19, 2010

Restaurant Western

ROMANO’S MACARONI GRILL SELLS FOR $2.45 MILLION ON FRONT RANGE

by admin February 19, 2010

COLORADO SPRINGS, COLO. — Pinnacle Real Estate Advisors has handled the $2.45 million sale of a net-leased Romano’s Macaroni Grill located at 2510 Tenderfoot Hill St. in Colorado Springs. The Pinnacle Retail Group’s Tom Ethington, Rob Edwards and Justin Krieger represented the out-of-state seller, Cardinal Capital, in the transaction, and Henry Casden represented the buyer, Harkan Properties LLC.

February 19, 2010

Retail Southeast

CR SOUTH ACQUIRES MARQUESA PLAZA FOR $11 MILLION

by admin February 18, 2010

NAPLES, FLA. — CR South has purchased the 115,000-square-foot Marquesa Plaza from Marquesa Plaza LLC for $11 million. The shopping center is located at the intersection of Livingston and Pine Ridge roads in Naples. Marquesa is 50 percent leased to Starbucks Coffee, Anytime Fitness, Carvel Ice Cream and 16 additional tenants. CR South is a partnership between Continental Realty Corp. and Forman Capital.

February 18, 2010

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