TUSTIN, CALIF. — Hanley Investment Group Real Estate Advisors has handled the nearly $3 million sale of a 9,597-square-foot retail property located at 13842 Newport Ave. in Tustin. Built in 1986 and 100 percent occupied at the time of sale, Walnut Newport Center is a four-tenant strip center anchored by Blockbuster Video. Hanley Investment Group’s Edward Hanley and Eric Wohl represented the seller, Westwood Financial of Los Angeles, in the all-cash transaction, and Chuck Hathoot of Prudential California Realty represented the Orange County, Calif.-based buyer, Lee Family Trust.
Retail
WARNER ROBBINS, GA. — Atlanta-based Benning Construction Co. will build a 30,000-square-foot movie theater for the Georgia Theatre Co. in Warner Robbins. The 10-screen Houston Lakes Stadium Cinemas will seat 2,000 people. Benning is expected to complete the project in May.
HALLANDALE BEACH, FLA. — Forest City has opened The Village at Gulfstream Park, a 500,000-square-foot mixed-use property in Hallandale Beach. The development, which consists of 410,000 square feet of retail space and 90,000 square feet of office space, has been built around the Gulfstream Park Racetrack and Casino. The center is currently 80 percent leased. Tenants include Crate & Barrel, Pottery Barn, Williams-Sonoma and Lilly McKay.
SANDUSKY, OHIO — Plano, Texas-based Cinemark Holdings is developing a 12-screen, stadium-seated movie theatre at Sandusky Mall Complex in Sandusky. The formal ground breaking is scheduled for March 1, with completion slated for December. The Cinemark Sandusky Theatre will offer digital and 3-D capabilities, stadium seating, online print-at-home ticketing and a self-serve concession stand.
PHILADELPHIA — Weather permitting, Tower Investments will break ground Tuesday on the 100,000-square-foot Shops at Schmidts at the intersection of 2nd Street and Girard Avenue in Philadelphia. Centered around a 50,000-square-foot Pathmark supermarket, the property is an anchor for Liberties Walk and The Piazza at Schmidts, two of Tower's other developments. Shops at Schmidts is slated for a completion late this year. Tower is also planning to break ground on The Residences at Schmidts, a 600-unit multifamily complex.
DUQUESNE, PA. — A Baltimore-based company has purchased the 56,000-square-foot Duquesne Plaza shopping center from an undisclosed party for $800,000. The property, located at 31 Duquesne Blvd. in Duquesne, is 50 percent occupied and has deferred maintenance issues. Michael Shover, Matthew Gorman and Thomas Gorman of Marcus & Millichap's Philadelphia office represented the buyer.
GRAND PRAIRIE, TEXAS — Philip Levy, Jason Vitorino and Tommy Tucker of Marcus & Millichap's Dallas office have represented a private seller in the sale of a 4,921-square-foot Christian Brothers Automotive retail property to a private buyer. Terms of the sale were not disclosed. The property is located at 2804 N.E. Green Oaks Blvd. in Grand Prairie. Built in 2006, the building is NNN-leased for 15 years. Levy and Vitorino represented the buyer.
HOUSTON —Brook Furniture Rental has leased a 22,500-square-foot property in Houston from HPF Investments. The building is located at 535 W. 38th St. Chris Caudill and Joel Michael of NAI Houston represented Brook Furniture Rental. Steve Hazel of Insite Realty Partners represented the landlord.
JACKSONVILLE, FLA. — Football Fanatics has signed a lease with First Winthrop for a 553,151-square-foot property in Jacksonville. The space is located at 5233 Commonwealth Ave. Colliers Dickinson's Guy Preston represented the tenant in the transaction. Bryan Bartlett and John Richardson of Grubb & Ellis|Phoenix Realty Group represented the landlord.
ROUND LAKE, ILL. — An undisclosed buyer has acquired Cedar Lake Plaza and surrounding out lots in Round Lake for a total sales price of $3.35 million. The 21,148-square-foot retail center sold for $1.6 million, while the 322,166 square feet of surrounding out lot land sold for $1.75 million. Evan Halkias and Michael Marks of Marcus & Millichap’s downtown Chicago office represented the undisclosed seller.