YPSILANTI, MICH. — Nobel’s Custom Clothing has leased retail space at Roundtree Place, which is located near the intersection of Ellsworth and South Hewitt roads in Ypsilanti. The custom fit men’s clothing retailer recently opened for business at its new location. Justine O’Brien of Centro Properties Group provided in-house representation for the company, which owns the property. The lease’s value was not disclosed.
GALT, CALIF. — NAI BT Commercial has handled the more than $5 million sale of a newly constructed 21,304-square-foot freestanding retail building located at 10520 Twin Cities Rd. in Galt between Sacramento and Stockton. Tractor Supply Company has a 15-year net-lease agreement on the property. NAI’s Andy Bogardus, Douglas Longyear and Chris Sheldon represented the seller, and the brokerage firm’s Jay Hagglund joined Bogardus in representing the buyer.
VIRGINIA BEACH, VA. — The City of Virginia Beach Development Authority has purchased a 38,414-square-foot retail property, formerly a Circuit City store, from CC Virginia Beach for $5 million. The building sits on 3.17 acres in the Town Center of Virginia Beach mixed-use development. The development authority will eventually incorporate the property into its Central Business District master plan. Alexander Divaris, Jason Oliver and Gerald Divaris of Virginia Beach-based Divaris Real Estate represented the buyer.
KANSAS CITY, MO. — Soave Enterprises has completed the development of a Mercedes-Benz Auto Dealership in Kansas City. The 30,000-square-foot facility features concrete tilt wall panels, aluminum composite panels, a glass curtain wall, exposed steel and granite. The $6.7 million building features a showroom, a boutique area, a customer drive-in, a full maintenance shop, an auto wash and a vehicle delivery area. HDA Architects provided architectural services for the project.
LIVONIA, MICH. — Big Lots has leased a 40,000-square-foot retail space at Musicland Shopping Center, which is located at the intersection of Tech Center Drive and Plymouth Road in Livonia. Terms of the lease were not released. Robert Saggese provided in-house representation for the landlord, Centro Properties Group.
CALN, PA. — An investor group led by Scott Homel and Pintzuk Brown Holdings LLC has acquired Caln Plaza shopping center in Caln for $4.25 million. The 56,000-square-foot retail property is located on approximately 9 acres at the intersection of Business Route 30 and North Caln Road. Caln Plaza was fully occupied at the time of closing. Its anchor tenants include Amelia's Grocery, Family Dollar and Rent-A-Center. Daniel Henderson, R. Christopher Datz and Anthony Sembello of Jenkintown, Pa.-based Pintzuk Brown Realty Group provided in-house representation for the buyer in the transaction. The seller, Metric Realty, was represented by Thomas Gorman and Matthew Gorman with the Philadelphia office of Marcus & Millichap. Acquisition financing was provided by Team Capital Bank. The property traded at a 10 percent capitalization rate.
SOMERDALE, N.J. — LA Fitness has joined the tenant roster at CooperTowne Center, a 385,000-square-foot retail development located at 711 Evesham Ave. in Somerdale. The fitness center chain will open a 45,000-square-foot anchor location in December. The remainder of the tenants, including co-anchor tenant Walmart Supercenter, will open in June 2010. CooperTowne Center is being developed by Purchase, N.Y.-based National Realty & Development.
SEABROOK, TEXAS — The Houston office of Grubb & Ellis has completed the sale of Seagate Village Shopping Center, a 13,315-square-foot retail property located at 3659 Nasa Rd. 1 in Seabrook. Keith Lloyd, Gus Lagos and Tony Ricci of Grubb & Ellis represented the undisclosed seller. The buyer, 3659 NR-1 LLC, provided in-house representation. The acquisition price was not disclosed.
CEDAR HILL, TEXAS — John T. Evans Co. has brokered the sale of a 4,700-square-foot restaurant building located in Cedar Hill. The building is situated on 1.12 acres at the intersection of Highway 67 and Belt Line Road, and it was formerly occupied by Bennigan's. The buyer is a local Japanese hibachi restaurant operator. Craig Johnson and Ben Johnson of John T. Evans Co. represented the seller, a Chicago-based investor. The acquisition price was not disclosed.
FRISCO, TEXAS — Schulman Partners has announced that it will build a new 14-screen, 50,000-square-foot movie theater at Hermansen Land Development's Frisco Market City master-planned project in Frisco. The $10 million project, which will be known as City Lights Theatre, is slated to break ground next May and will be complete by May 2011. It will feature stadium seating along with an art deco design. Schulman currently operates two theaters in Georgetown and Weatherford, Texas.