NAPLES, FLA. — Carlisle/Wilson Plaza LLC has purchased the 36,000-square-foot Wilson Plaza shopping center from Gulfstream Retail Investments for $6.5 million. The property is located at 50 Wilson Blvd. in Naples. Larry Foster and Bill Young of CB Richard Ellis' Naples office brokered the transaction.
Retail
VIRGINIA BEACH, VA. — Restaurant Depot has purchased an 89,000-square-foot building formerly occupied by Value City Department Store for $6 million. The property, which is located at 5112 Virginia Beach Blvd. in Virginia Beach, will serve as a new Restaurant Depot location when the tenant moves in during the third quarter of next year. The company will invest $3 million in the property and hire 38 employees. Restaurant Depot will open five additional stores throughout the country next year.
CALDWELL, N.J. — Marcus & Millichap has negotiated the sale of a 6,175-square-foot retail property located in Caldwell for $1.25 million. Seth Pollack of Marcus & Millichap's New Jersey office represented the seller, a local retail developer. David Thurston, also of Marcus & Millichap, represented the buyer, a local investor participating in a 1031 exchange.
PORTERVILLE, CALIF. — Retail West has negotiated the sale of the 81,000-square-foot Eastridge Plaza in Porterville to Vallarta Properties. The retail center includes a recently opened Vallarta Supermarket. Retail West’s John DuBois, Jon Gianulias and Mark Denholm represented the seller, a partnership including New York-based Kimco and Prudential.
COLUMBIA, S.C. — RCG-Northway has sold the 79,413-square-foot North Columbia Square shopping center to CRP II North Columbia Square for $4.6 million. Located at 5110 Fairfield Road in Columbia, the Food Lion-anchored property is 95 percent occupied. Additional center tenants include Rent-A-Center, Family Dollar, Rainbow Fashions and Shoe Time. Tim Giambrone of Marcus & Millichap's Atlanta office represented the seller.
MYRTLE BEACH, FLA. — Greenville, S.C.-based RealtyLink has brokered the $2.23 million sale of an 8,142-square-foot Bridgestone tire store between two private companies. The building, which was completed in February, is located 5 miles from the Myrtle Beach International Airport in Myrtle Beach. The tenant's 15-year lease carries 10 percent rent increases every 5 years.
MAUMELLE, ARK. — Marcus & Millichap has brokered the sale of a 1,750-square-foot Starbucks between two private investors for $1.11 million. The tenant has leased the space, which is located at 105 Commons Drive in Maumelle, through 2017. Gino Lollio, William Bennett and Andy Gallas of Marcus & Millichap's Chicago office represented the seller. Peter James of the firm's Los Angeles office represented the buyer. Clarence Cropper of the Montgomery, Ala., office also assisted in the deal.
DALLAS — Equinox Fitness Clubs has opened its second Texas location in Dallas. The 30,000-square-foot facility is located on Hillcrest Road in the city's Preston Hollow neighborhood. It features six fitness studios, a rooftop terrace and a water feature. Fitness club amenities include a retail store, a cafe, a kid's club, a full-service space, a fully amenitized locker room area and wireless Internet access.
ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of a 7,918-square-foot retail property located in Arlington. Situated at 2009 E. Copeland Road, the property is occupied by Texas Land & Cattle. It was built in 1997. Philip Levy and Jason Vitorino of Marcus & Millichap's Dallas office represented the seller, a limited liability company. Chad Knibbe and Marla Rhodes of Marcus & Millichap's San Antonio office represented the buyer, also a limited liability company. The acquisition price was not disclosed.
DOTHAN, ALA. — Aronov Realty Management of Montgomery, Ala., has started the development of Cottonwood Corners, a 63,000-square-foot shopping center anchored by a 45,600-square-foot Publix. The Dothan property will help generate approximately 200 jobs. Delivery is expected next fall.