DERRY, N.H. — Marcus & Millichap has brokered the sale of a freestanding Applebee's Neighborhood Grill & Bar located in at 14 Manchester Road in Derry for $1.85 million. The restaurant currently has more than 18 years remaining on its lease, with four 5-year extension options. Robert Horvath, Todd Tremblay and Ethan Cole of Marcus & Millichap's Boston office procured the buyer, M Cohen Enterprises. The seller was New York City-based DBAPPLEF LLC.
HIALEAH, FLA. — Marcus & Millichap has brokered the $6.7 million sale of the Navarro Hialeah Plaza between two private parties. The 35,560-square-foot shopping center, which is anchored by Navarro Discount Pharmacy, is located at 3141 W. 76th St. in Hialeah. Drew Kristol and Kirk Olson of Marcus & Millichap's Miami office brokered the sale.
ATLANTA — Charlotte-based Ferncroft Capital has purchased the 6,000-square-foot 9 Concourse Parkway from The Landmarks Group Properties Corporation for an undisclosed amount. The property, located on Hammond Drive in Atlanta, is a single-tenant outparcel to the 2.1-million-square-foot Concourse Office Park. Terms of the broker-less transaction were not disclosed.
SAN ANTONIO — University of Phoenix has signed a 20,000-square-foot lease with Houston-based Whitestone REIT for space in the Windsor Park Shopping Center. The 192,458-square-foot property is located at 8600 Fourwinds Drive in San Antonio. It is currently 85 percent leased. Larry Mendez and Charlie Weil of Transwestern's San Antonio office represented the landlord. Michael Griffin of the firm's Dallas office represented the tenant.
MYRTLE BEACH, S.C. — Choate Construction will soon break ground on a 30,000-square-foot WonderWorks museum in Myrtle Beach. Construction of the upside down, slightly tilted building will include demolition of the existing structure. Goodwyn, Mills and Cawood Inc. designed the property, which will house more than 100 interactive exhibits.
NEW YORK CITY — Ascot Properties has acquired a retail condominium in New York City for $4.7 million. The unit is the ground floor of 129-135 Lafayette Street, a 12-story mixed-use building located in Manhattan. Cathay Bank currently occupies the space. Salmon & Marshall partners Kevin Salmon and Matthew Marshall represented the seller, Tribeach Holdings, and procured the buyer.
FRISCO, TEXAS — North American Development Group has purchased 22 acres of land for a future shopping center in Frisco from an undisclosed seller. The acreage is located at the southeast corner of F.M. 423 and Lebanon Road. NADG has proposed a development anchored by a 70,000-square-foot Tom Thumb Supermarket; the site will also include 24,000 square feet of inline retail space and 5 pad sites. Construction will begin this fall, and completion is expected early next summer.
PARAMOUNT, CALIF. — Faris Lee Investments has completed the $14 million sale of an 88,341-square-foot, single-tenant retail property located at 14601 Lakewood Blvd. in Paramount. Occupied by El Super Grocery Store, the property was remodeled in 2009 to also accommodate El Super’s corporate headquarters. Faris Lee’s Donald MacLellan and Richard Walter represented the seller, Phoenix-based LDR/DMG Paramount LLLP, in the all-cash transaction, and Mitch Conlee of Daum Commercial represented the buyer, Los Angeles-based Wolf Trust, which was completing a 1031 exchange.
LAS VEGAS — Vegas Retail Leasing has handled the sale of the 28,880-square-foot Plaza Las Americas located at 540 and 546 North Eastern Ave. in Las Vegas. Completed in late 2008, the retail center features 18 units and is 42 percent occupied. Grubb & Ellis’ Nelson Tressler and Michael Kammerling represented the buyer, Plaza Las Americas Holdings LLC, in the transaction, and Charlotte Sousa of Vegas Retail Leasing represented the seller, Nevada State Bank.
ORANGE PARK, FLA. — Marcus & Millichap has brokered the sale of the 13,800-square-foot 57 Heaven Center retail property between two undisclosed parties for $1.32 million. The property, which is fully occupied, is located at the intersection of Blanding Boulevard and Wells Road in Orange Park. The property is shadow-anchored by the 900,000-square-foot Orange Park Mall. David Hsieh and James Hoggatt of Marcus & Millichap brokered the sale.
