GOOSE CREEK, S.C. — East Shore Athletic Club has leased 43,200 square feet from Spring Hill Associates for space in the Shannon Park Shopping Center. The property is located at 214 St. James Ave. in Goose Creek. Erin England and Billy Ellison of Colliers Keenan in Charleston, S.C., represented the landlord in the lease.
FORT WORTH, TEXAS — NewQuest Properties is developing Shops at Timberland Crossing, which will be anchored by a 90,000-square-foot Kroger Signature store. Located at the intersection of Timberland Road and North Beach Street in Fort Worth, the 20-acre property will also feature 21,000 square feet of retail space and three pad sites. The Kroger will include a fuel center. Delivery is slated for 2012.
SAN ANTONIO — Noah's Ark Development will break ground during the second quarter on a Noah's Ark Self Storage & RV Parking facility in San Antonio. The property will be located at the intersection of FM 1516 and IH 10. Facility features will include climate-controlled units, a surveillance system and electrical hookups for RVs. San Antonio-based NDS Construction is the general contractor and will help design the property.
HAWTHORNE, CALIF. — Hodgdon Group Realty has represented Ashley Furniture Industries in the acquisition of a 33,952-square-foot former Circuit City building located at 14600 Ocean Gate Ave. in Hawthorne. The purchase price was not disclosed. Assisted by CB Richard Ellis’ Scott Kaplan, Aaron Hodgdon represented Ashley Furniture in the purchase, and CBRE’s Richard Rizika represented the sellers, New York City-based WhiteFire Capital LLC and Dallas-based Tabani Group.
CHESAPEAKE, VA. — A private Virginia-based investor has purchased the 13,559-square-foot Chesapeake Square Shoppes from a private seller for an undisclosed price. The Chesapeake property houses Firehouse Subs, Rita's Ice, Tropical Smoothie and Five Guys Burgers & Fries. Rob Carter, David Webb and Alex Quarrier of Berkeley Capital Advisors brokered the sale along with S.L. Nusbaum's John Litz.
ATLANTA — RREEF has tapped The Shopping Center Group to market its Southeast and Mid-Atlantic portfolio, which totals 2 million square feet. The assignment encompasses 10 retail centers located in the Carolinas, Florida, Georgia and Virginia. The centers have an average occupancy of 94 percent. Two significant Atlanta-area properties include the 207,000-square-foot Providence Square in Marietta, Ga., and the 186,058-square-foot Perimeter Square in Atlanta.
CROSSROADS, TEXAS — Two undisclosed parties have traded a parcel net-leased to AutoZone for $1.33 million. The 0.87-acre property is located at the intersection of U.S. Highway 380 and FM 424 in Crossroads. Stan Johnson Co.'s Ryan Butler and Brad Moulder represented the seller. CIB Real Estate's Russ Lockner and Bill Klippert represented the buyer.
CARY, N.C. — Marcus & Millichap has brokered the $2.41 million sale of Centrum Station Shopping Center between two undisclosed parties. The 18,001-square-foot retail property is located in Cary. The sale was part of a 1031 exchange. Andrew Margulies of Marcus & Millichap brokered the sale.
FAIRFIELD, CONN. — Construction is under way for Kings Crossing, an 86,000-square-foot retail center located in Fairfield. Developed by Summit Development, the retail center is situated at the interchange of Kings Highway and Interstate 95. Tenants already signed on include a 45,000-square-foot Whole Foods Market and a 14,000-square-foot CVS/pharmacy. Completion is expected in spring 2011. Patrick Smith and Christa Minogue of SRS Real Estate Partners are handling leasing for the project.
ROYERSFORD, PA. — Marcus & Millichap has completed the sale of Lakeview Shopping Centre in Royersford for $23.5 million. The 194,451-square-foot retail property is situted on more than 30 acres at 947 S. Township Line Road. Tenants include Kohl's, Marshalls, KFC, TD Bank and Wawa. A majority of the center's tenants occupy their spaces on ground leases. Brad Nathanson of Marcus & Millichap's Philadelphia office represented the seller, Reitnour Investment Properties, and the buyer, OLP Lakeview LP. The sales price equates to a 7.7 percent cap rate.