SAN DIEGO — Cushman & Wakefield has brokered Appreciated Property Holdings LLC’s $1.6 million purchase of a 2,500-square-foot retail building in San Diego’s historic Gaslamp Quarter. The buyer plans to use the property, which is located at 520 Fifth Ave., as a women’s clothing boutique. Cushman & Wakefield’s Mike Morgan represented both Appreciated Property Holdings and the seller, Joseph Filippi Jr. Trust, in the transaction.
PURCELLVILLE, VA. — Atapco Properties has purchased the 79,100-square-foot Main Street Station shopping center from Zimmer Development Co. for $14.17 million. Located at 1000 E. Main St. in Purcellville, the Giant Food-anchored property is 97 percent occupied. Mike Gorsage and Kate Howarth of H&R Retail Investment Properties brokered the sale.
YONKERS AND SCARSDALE, N.Y. — Walgreens has signed agreements for two new locations in Westchester County, New York. In the first agreement, Walgreens signed a more than 25-year lease for the former Foodtown property located on South Broadway in Yonkers. In the second transaction, Walgreens signed another lease in excess of 25 years for the former Montparnasse Restaurant location at 870 Central Park Ave. in Scarsdale. Construction will begin at both locations soon, with store openings planned for mid-2010. John Williams of Yonkers-based NAI Friedland Realty was the sole broker in both transactions. The landlord in the Yonkers deal was McLean-Jomo Realty, and the landlord for the Scarsdale deal was 870 CPA Realty.
OWASSO, OKLA. — Stan Johnson Co. has completed the sale of a 14,820-square-foot, freestanding retail building located in Owasso. The building is situated at 11605 N. 135th East Ave. and was built this year. Walgreens has a 25-year lease to occupy the property. Brad Pepin of Stan Johnson Co. and Allen Klippel of CB Richard Ellis represented the buyer, an individual investor participating in a 1031 exchange. Ken Hedrick and Jerry Hopkins, also of Stan Johnson Co., represented the seller, a merchant Walgreens developer.
MELBOURNE, FLA. — SIKON Construction of Deerfield Beach, Fla., will break ground in January on a 45,000-square-foot Publix at Windover Square in Melbourne. The $3 million project is located at 2227 W. New Haven Ave. Completion of the store, which was designed by Orlando, Fla.-based Cuhaci & Peterson, is expected next fall.
FORT PIERCE, FLA. — Tulepan Management has named SLC Commercial leasing agent for its 181,715-square-foot Coral Square Shoppes. The shopping center is currently under development at the intersection of South U.S. 1 and Edwards Road in Fort Pierce. The phased project will include retail, office and restaurant spaces. The 43,000-square-foot first phase will be anchored by a 17,000-square-foot Save-A-Lot Food Store.
WAUKESHA, WIS. — Giuffre XXII has acquired the former Don Jacobs Subaru car dealership, which is located at W226 S1700 Highway 164 in Waukesha, for $2.3 million. The 6.5-acre property features two buildings totaling approximately 45,000 square feet. The buyer plans to re-tenant the existing buildings for automotive use. Dave Hartig and Tom Treder of Commercial Property Associates represented the buyer and the seller, Donald and Jeanne Jacobs, in the transaction.
HUNTINGTON BEACH, CALIF. — Whole Foods Market will occupy the 32,000-square-foot former Circuit City space at the 800,000-square-foot Bella Terra retail center in Huntington Beach. Redesign plans are in the works for both the exterior and interior of the building, with completion scheduled for fall 2010.
WELLTON, ARIZ. — CDC Commercial has brokered the $1.96 million purchase of a Jack in the Box fast-food restaurant located at 28882 Commerce Way in Wellton. Represented by CDC Commercial’s Don Zech, Jimenez 1987 Family Trust purchased the approximately 2,654-square-foot, freestanding building from Delaware-based Jack in the Box Inc. in a 1031 exchange. Brent Hensley of Net Leased Real Property represented the seller.
OLNEY, MD. — Early next year, Carl M. Freeman Cos. will being a $17 million redevelopment of the 110,500-square-foot Olney Town Center in Olney. The project consists of renaming the center Fair Hill, updating the façade, improving the parking lot and adding a plaza area. New tenants will include a 52,000-square-foot Harris Teeter, a 7,000-square-foot Green Turtle Sports Bar and Grille and a 1,600-square-foot Fancier Nails and Spa. Delivery is expected during the fall of 2011.