ARLINGTON, TEXAS — CompUSA Retail has leased 25,000 square feet from Diana Arlington LP. The property is located in the former Bassett Furniture building at 1600 Interstate 20 West. John Mathes and Terry Syler of The Retail Connection and Ed Schmidt of NAI Miami brokered the transaction.
DALLAS — El Castor, a Mexican restaurant, has leased 2,930 square feet of space in the Meadow Central Market in Dallas. The property is located at the corner of North Central Expressway and Meadow Road. The Weitzman Group's Austin Schenkel and Christopher Young handled the lease. El Castor currently has three locations in Mexico.
FRISCO, TEXAS — Tex-Mex eatery Tupinamba's will move into a 5,000-square-foot space in The Shops at Starwood in Frisco this summer, opening a restaurant named Tupy's. The property is located at the intersection of Dallas North Tollway and Lebanon Road. Tenants recently added to The Shops at Starwood include Pappagallo's Classique, Pierce Hardware and Ginny's Underworld. Real Street Properties and SRS Real Estate Partners brokered the Tupinamba's lease.
CHARLOTTE, N.C. —A joint venture led by Regency Centers has acquired Providence Commons in Charlotte from a private party for an undisclosed price. The property consists of a 191,301-square-foot retail center located at the intersection of Providence Road and Ballantyne Commons Parkway. Major tenants include a 120,487-square-foot Lowe's Home Improvement Warehouse, a 50,240-square-foot Harris Teeter and an 8,640-square-foot Rite-Aid. The property was constructed in 1995. The purchase marks Regency's third shopping center in the market; it also owns Carmel Commons and Cochran Commons.
DOLTON, ILL., AND INWOOD, W.VA. — An affiliate of Norfolk, Va.-based Harbor Group International has purchased two CVS/pharmacy retail properties in Dolton and Inwood. The properties were acquired as a portfolio from Mesirow Realty Sale-Leaseback Inc. for $9.5 million. Each property is leased for a remaining initial term of approximately 24 years with 10 additional 5-year periods. The portfolio consists of a 13,013-square-foot CVS/pharmacy with a double drive-thru in Dolton and a 12,900-square-foot CVS/pharmacy with a double drive-thru in Inwood.
LIVONIA, MICH. — Centro Properties has leased 40,000 square feet of retail space at Musicland Shopping Center to Big Lots. The new retail store, which recently opened, is located at the intersection of Tech Center Drive and Plymouth Road in Livonia. Terms of the lease were not disclosed. Robert Saggesse provided in-house representation for Centro Properties Group, the property owner.
LANGHORNE, PA. — Marcus & Millichap has arranged the sale of CVS Pharmacy Plaza in Langhorne for $3.05 million. Situated along West Maple Avenue , the shopping center totals 14,410 square feet, with CVS/pharmacy occupying 54 percent of the center. Occupancy was 100 percent at the time of closing. Christopher Munley, Dean Zang and Mark Taylor of Marcus & Millichap's Philadelphia office represented the seller, Langhorne Realty Partners. Munley procured the buyer, a local investor. The property traded at a 7.97 percent capitalization rate.
GREENVILLE, N.C. — Troy Legge of Sperry Van Ness|Lighthouse Commercial Realty represented an undisclosed seller in the $6.2 million sale of a Walgreens to a private buyer. The 14,490-square-foot property is located on 1.3 acres in Greenville. Walgreens has a 25-year absolute net lease on the building. The institutional buyer represented itself in the transaction.
CHICAGO — A private investor has acquired a single-tenant retail property in Chicago’s Pilsen neighborhood. Situated on a 12,000-square-foot site at 1709 W. 18th St., the property sold for $3 million. Evan Halkias and Michael Marks of Marcus & Millichap represented the undisclosed seller and buyer in the transaction.
ELIZABETH, N.J. — Marcus & Millichap has brokered the sale of a 26,993-square-foot neighborhood retail center located in Elizabeth for $5.2 million. The two-story building was constructed in 1960 and is located along Route 1/9. Seth Pollack of Marcus & Millichap's New Jersey office represented the seller, a New Jersey limited liability company. Urszula Zoltek, also of Marcus & Millichap, secured the buyer, a local investor.