NEW YORK CITY — Marcus & Millichap has completed the sale of a retail building located at 407 Park Ave. in New York City for $8.7 million. The two-story building includes 29,450 square feet of air rights. Upscale men's clothing story Stefano Ricci occupies the entire building. Adelaide Polsinelli and Steve Siegel of Marcus & Millichap's Manhattan office represented the seller, 407 Park LLC. Glen Kunofsky and James Ventura, also of Marcus & Millichap, represented the buyer, Land Finance Corp.
Retail
HOUSTON — A Houston-based developer has sold the 14,112-square-foot La Michoacana Meat Market to a private buyer for an undisclosed price. The property is located on a 73,436-square-foot parcel on Elton Road in Houston. Todd Carlson of Marcus & Millichap represented the seller.
HOUSTON — Mody Interests has sold a 12,157-square-foot retail building to Roade Properties for an undisclosed amount. The property, which is located on 25,001 square feet of land at 3012 Hillcroft in Houston, will be used as a meat market. Anastacio Sanchez of Sun Realty Texas represented the buyer. Moody Rambin Interests represented the seller.
ROCKVILLE, MD. — Potomac, Md.-based Willco Cos., in partnership with Fanaroff & Steppa and Don Hinton, has purchased a 50,000-square-foot retail building from Koob Veneman for $5.25 million. The property, located at 12401 Twinbrook Parkway, is occupied by Guitar Center. The tenant moved into the property in 2000 after Veneman Music Co. closed.
LEXINGTON, KY. — Shrout Properties has purchased the 8,500-square-foot former Lexington Antique Gallery from Thunderbird Properties for an undisclosed amount. The property is located at 637 E. Main St. in Lexington. Jennie Brown of Alden Real Estate represented Shrout. NAI Isaac Commercial Properties' Al Isaac represented the seller.
WEATHERFORD, TEXAS — Texas Taco Cabana has purchased a 42,500-square-foot property from Weatherford I-20|Main St. for an undisclosed amount. The building is located in the Weatherford Ridge shopping center at the intersection of Interstate 20 and Main Street in Weatherford. John T. Evans Co.'s Dan Garrett represented the buyer. Jeremy Zidell of The Retail Connection represented the seller.
GULFPORT, FLA. — Southern Commercial Developers has acquired the 45,000-square-foot Gulfport Plaza Shopping Center from an undisclosed party for $1.3 million. The buyer is now undertaking renovations to the property, which is located at the intersection of 49th Street and 22nd Avenue South in Gulfport. A grand opening is planned for the summer. Family Dollar and Save-A-Lot anchor the property.
GILBERTSVILLE, PA. — The grand opening has been held for Douglass Town Center, a 90,000-square-foot shopping center located in Gilbertsville. A 70,000-square-foot Giant Food anchors the center, which was developed by Moorestown, N.J.-based Retail Sites. Other tenants include AT&T Wireless, Chinese Restaurant, Custom Cleaners, GameStop, Hair Cuttery and Hallmark. One shop space and one outparcel remain for lease.
AUBURN, CALIF. — Marcus & Millichap has announced the more than $6.35 million sale of a 14,550-square-foot Walgreens located at 12120 New Airport Road in Auburn. Marcus & Millichap’s Alvin Mansour represented the seller of the single-tenant, net-leased property, which is situated directly across from the 130,000-square-foot Auburn Village retail center.
GREER AND GREENVILLE, S.C. — RealtyLink has sold two Tuffy Auto locations to private buyers for more than $3 million. One 5,100-square-foot property, located adjacent to a Target center in Greer, was sold for $1.62 million. The other store, a 5,390-square-foot property in downtown Greenville, also sold for $1.62 million. The new stores were completed 2 years ago and are leased to the tenants on 20-year terms.