PERRIS, CALIF. — Cassidy Turley BT Commercial has negotiated the almost $2.2 million acquisition of a 3,000-square-foot Jack in the Box building in Perris. Cassidy Turley’s Andy Bogardus and Jay Hagglund represented the buyer, a private investor, in the transaction.
BOCA RATON, FLA. — 140 N. Federal Highway LLC has purchased a 7,580-square-foot BB&T Bank Building from Seacoast National Bank for $2.9 million in an REO sale. The property is located at 140 N. Federal Highway in Boca Raton. Scott O'Donnell, Dominic Montazemi, Kirk Nelson and Moguel Alcivar of CB Richard Ellis brokered the sale.
LEVELLAND, TEXAS — Lubbock, Texas-based Lee Lewis Construction is planning a summer groundbreaking for the $15 million Multi-Event Center. The property will sit on 152 acres in Levelland. Hockley County is developing the 155,585-square-foot project, which will include 17,340 square feet of banquet and meeting space, a 26,220-square-foot exposition hall and an 85,000-square-foot arena.
FAIRVIEW, TEXAS — A 155,000-square-foot Dillard's location has opened as a third anchor MGHerring Group's The Village at Fairview in Fairview. The store opened in conjunction with the property's additional second-phase openings, which included A La Mode, be-dazzled, Buckle, Dallas Cowboys Pro Shop, Flower Pot, Purple Cow, Texas Memories, Toys Unique and Uptown Popcorn, among others. Eight more tenants are opening in March.
PHOENIX — Marcus & Millichap has brokered the $2.9 million sale of a Fry's Shops located at 4212 West Cactus Road in Phoenix. Built in 1990, the 17,055-square-foot retail property is 81 percent occupied by nine tenants. Marcus & Millichap’s Jesse Goldsmith and Steve Julius represented the seller, Bell Rd 67 LLC, in the transaction.
CONCORD, N.H. — Marcus & Millichap has brokered the sale of a 5,800-square-foot TGI Friday's located at 221 Loudon Road in Concord. The restaurant traded for $1.62 million at a 8.06 percent cap rate. TGI Friday's currently has 7.5 years remaining on a 10-year lease, which includes four 5-year renewal options with rent escalations. The Marcus & Millichap team of Robert Horvath, Adam Mancinone, Todd Tremblay and Blake Barbarisi represented the seller, Connecticut-based Crown Point Real Estate Investors. Emily McGranaghan of Boston Condo Group procured the buyer, Massachusetts-based 571-575 Broadway LLC.
TAMPA, FLA. — Marcus & Millichap has brokered the $1.42 million sale of a Discount Mini Storage location between two private parties. The property is located on 1.67 acres at 8323 W. Hillsborough Ave. in Tampa. Discount Mini Storage, which was built in 1998, is 68 percent occupied. Michael Mele of the firm's Tampa office brokered the sale.
ALEXANDRIA, MINN. — American Asset Management Services (AAMS) has acquired a Walgreens property in Alexandria for an undisclosed price. Located at 910 Broadway St., the 38,460-square-foot land asset includes a Walgreens store and adjacent land. The seller was Gendell Partners Alexandria LLC, an entity affiliated with Wilmette, Ill.-based Terraco. AAMS currently owns and operates 2 million square feet of retail space in six states.
LEXINGTON, KY. — Aldi Food Market has signed a 1.76-acre ground lease to occupy the former Man O' War Ford property in Lexington. The 18,800-square-foot space is located adjacent to Fayette Mall at 3695 Nicholasville Road. Aldi will open at the new space in August. Bruce Isaac of NAI Isaac Commercial Properties represented Aldi in the transaction. Caller Properties' Bret Caller and Ben Hall represented the undisclosed landlord.
GULF BREEZE, FLA. — Strategic Storage Trust has purchased a 280-unit self-storage facility from Seagreen Marine for an undisclosed amount. The 39,750-square-foot property, located at 4761 Gulf Breeze Parkway in Gulf Breeze, was developed in 2004 and 2005. National Real Estate Auction Group represented the seller.