ATLANTA — Atlanta-based RCG Ventures has acquired three retail properties in the Southeast totaling more than 250,000 square feet. All the assets were sold by private parties for undisclosed amounts. The firm purchased the 213,164-square-foot Hampton Plaza, located at 2864 Wilma Rudolph Blvd. in Clarksville, Tenn. Also purchased were the 103,000-square-foot Laurens Plaza, located on East Main Street in Laurens, S.C., and the 43,132-square-foot Talladega Shopping Center, located at 803 E. Battle St. in Talladega, Ala.
Retail
HUNTSVILLE, ALA. — The Hampshire Companies has disposed of a 44,271-square-foot retail property, selling it to Huntsvillepub LLC for an undisclosed amount. The building is located on more than 6 acres at 12796 Bailey Cove Rd. SE in Huntsville. Publix formerly occupied the space.
GRAND RAPIDS, MICH. — Service Express has leased a 24,000-square-foot facility, which is located at 3854 Broadmoor in Grand Rapids. Windmill Development leased the to the new tenant for an undisclosed price. Dave Smies of NAI West Michigan represented the landlord and tenant in the transaction.
PLAINVILLE, MASS. — Marcus & Millichap has completed the sale of a 9,796-square-foot retail center located in Plainville for $3.45 million. The property is located on Taunton Street, directly across from Target, Lowe's Home Improvement Warehouse and Super Stop & Shop. It consists of two tenants, National Tire & Battery and Dunkin Donuts. The former is subject to a 25-year, triple-net lease, and the latter is subject to a 10-year lease. Robert Horvath and Todd Tremblay of Marcus & Millichap's Boston office represented the seller, a national retail owner, and procured the buyer, a regional investor.
HOUSTON — CB Richard Ellis has brokered a lease for the former Circuit City space located at Fairway Centre III in Houston. Conn Appliances will occupy the 30,338-square-foot space, which is situated at the intersection of Beltway 8 and Fairmont Parkway. Jazz Hamilton, Alex Makris and Matt Keener of CB Richard Ellis represented the landlord, Trammell Crow Co., in lease negotiations.
MINNEAPOLIS — Michael Padilla of NorthMarq Capital’s Minneapolis regional office has arranged a $2.4 million loan for a Walgreens location in Sioux Falls, S.D. The property consists of 13,905 square feet of retail space. Financing was based on a 4 + 4-year term with a 15-year amortization schedule. Symetra Life provided the financing for the undisclosed borrower.
NORWALK, CONN. — CB Richard Ellis (CBRE) has completed the acquisition of a 6,000-square-foot retail property located at 261 Connecticut Ave. in Norwalk for $2.25 million. Al Mirin and Silvia Pogosyan of CBRE's Stamford, Conn., office represented the buyer, Hattco Post Road LLC. The buyer also owns several adjacent land parcels through an affiliate and has future plans to develop the parcels for retail use. Hattco could deliver more than 20,000 square feet of retail space as early as 2012, but the 261 Connecticut Avenue property, which was formerly occupied by Seymour's Hardware, is available for immediate occupancy. Jessica Curtis of CBRE's Fairfield County, Conn., office is overseeing leasing for the entire portfolio.
VIRGINIA AND MARYLAND — An undisclosed buyer has purchased a four-property portfolio of triple-net leased Applebee’s restaurants from an undisclosed seller for $9.2 million. The restaurants are located in Harrisonburg, Warrenton and Winchester, Va., and California, Md. Rick Fernandez of Calkain Realty Advisors represented the buyer in the transaction.
JUPITER, FLA. — Atlantic Retail Properties will help Lowe’s Home Improvement Warehouse dispose of 60 excess real estate assets in the Southeast. The firm has been tasked with selling properties that range from vacant land to 50,000-square-foot stores. The assets are located in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina and Tennessee. Dan Lynch, Greg Godino and Ross Waters of Atlantic’s Jupiter office are in charge of executing the deals.
ORLANDO, FLA. — Orlando-based Corporate Convenience has sold a 16,969-square-foot laundry property to Mchaeuszer Laundry for $1.26 million. The vacant building is located on 1.3 acres at 5824 Precision Dr. in Orlando. Mike Halimeh of Sperry Van Ness’ Orlando office represented the seller. Paul Noonan of Cambridge Financial’s Orlando office represented the local buyer.