SUNRISE, FLA. — GL Commercial has acquired seven outparcels at the Fountains of Miramar shopping center from a private party for an undisclosed price. The property is located at the intersection of Miramar Parkway and Dykes Road in Sunrise. Four of the outparcels are occupied by Chick-fil-A, JP Morgan Chase, Shell Station and Benihana. Further details of the transaction were not disclosed.
REDWOOD CITY, CALIF. — Terranomics Retail Services has brokered Autozone’s $2.3 million owner/user acquisition of an 8,416-square-foot freestanding retail building located at 901 El Camino Real in Redwood City. Terranomics‘s Jon Stansbury and James Gaglione represented the buyer in the transaction, and Cassidy Turley BT Commercial’s Tim Howarth represented the seller, Robert and Dorothy Kissick.
COLUMBIA, S.C. — Midtown at Forest Acres, a 695,000-square-foot enclosed shopping mall located in Columbia, has been sold. The lender-owned mall traded for $4.42 million, or $6.37 per square foot. Occupancy at the center, which is situated at 3400 Forest Drive, is currently 48 percent. Anchors include Belk, Parisian, Dillard's, Barnes & Noble, Regal Cinemas and TGI Friday's. Bill Kohlhepp of the Fort Lauderdale, Fla., office of Marcus & Millichap and Bill Buford, Jr., of the firm's Clinton, S.C., office represented the seller, Richland Joint Venture Group LLC. Columbia-based R. Leon Jones Realty represented the undisclosed buyer.
COLORADO SPRINGS, COLO. — Pinnacle Real Estate Advisors has handled the $2.45 million sale of a net-leased Romano’s Macaroni Grill located at 2510 Tenderfoot Hill St. in Colorado Springs. The Pinnacle Retail Group’s Tom Ethington, Rob Edwards and Justin Krieger represented the out-of-state seller, Cardinal Capital, in the transaction, and Henry Casden represented the buyer, Harkan Properties LLC.
NAPLES, FLA. — CR South has purchased the 115,000-square-foot Marquesa Plaza from Marquesa Plaza LLC for $11 million. The shopping center is located at the intersection of Livingston and Pine Ridge roads in Naples. Marquesa is 50 percent leased to Starbucks Coffee, Anytime Fitness, Carvel Ice Cream and 16 additional tenants. CR South is a partnership between Continental Realty Corp. and Forman Capital.
LAKELAND, FLA. — A private partnership has sold the 32,000-square-foot Northside Plaza to an undisclosed buyer for $1.7 million. Located at 2435 US Highway 98 North, the property is nearly 100 percent occupied. Ron Shultz of Marcus & Millichap's Tampa, Fla., office represented the seller.
DEERFIELD TOWNSHIP, OHIO — Encore Retail, a subsidiary of Dallas-based Encore Enterprises, has acquired Governor’s Point, a retail complex located on Mason-Montgomery Road in Deerfield. The 360,000-square-foot center consists of the 161,061-square-foot Governor’s Point North and the 198,940-square-foot Governor’s Point South. Tenants include Lowe’s Home Improvement Warehouse, Bigg’s Supervalu supermarket, Staples, Mattress Warehouse, Chipotle, UPS and T-Mobile. The property was built by owner/developer, Duke Realty Corp., in 1998. Encore Opportunity Fund, a $150 million equity fund in which Encore Equities is a partner, is funding the acquisition. Encore Equities is also a subsidiary of Encore Enterprises. The acquisition price was not disclosed.
HONOLULU — TNP Strategic Retail Trust Inc. has received board authorization to purchase the 170,275-square-foot Waianae Mall, a multi-tenant retail center in Honolulu. An affiliate of Thompson National Properties LLC, the company’s sponsor, has entered into a purchase agreement to acquire the 11-building mall property for approximately $25.7 million. The property is anchored by a Longs Drugs store and features national retailers such as Starbucks Coffee, Pizza Hut, Subway, RadioShack, Payless ShoeSource, Jamba Juice, Goodyear and Fantastic Sams.
HARBOR CITY, CALIF. — Watt Commercial Properties has broken ground on a $14 million redevelopment effort at the 107,682-square-foot Palo Woods shopping center in Harbor City. Redevelopment plans include converting the existing Kmart building into two separate retail spaces and creating two new 3,000-square-foot retail pads to front Sepulveda Boulevard. Ross Dress for Less and L.A. Fitness have already secured the spaces in the old Kmart building, both under 10-year leases. Watt expects the entire 9-acre project to be complete in third quarter.
PFLUGERVILLE AND WILLIS, TEXAS — Ross Dress for Less will hold the grand opening for its newest location in the coming weeks. The apparel retailer will join the tenant roster at Stone Hill Town Center, a 196-acre, master-planned development in Pflugerville that is owned by NewQuest Properties. Other retailers opening at the center this year include Office Depot and 24 Hour Fitness. In addition to 1 million square feet of retail space, Stone Hill Town Center will contain 325 multifamily units, a hotel and professional office space. In addition, a new Kroger Marketplace has been announced for Sam Houston Town Center, a NewQuest retail development located in Willis. The 123,000-square-foot grocery store will anchor the retail center, which is located at the interchange of Interstate 45 and FM 1097. Sam Hill Town Center will also include 25,000 square feet of small-shop retail space and six pad sites. Groundbreaking for The Kroger Marketplace will occur in March, with the grand opening planned for 2011.