MANSFIELD, TEXAS — The Shops at Mansfield LLC has announced that Kroger Marketplace will anchor Broad Street Commons, a shopping center currently under development at the corner of East Broad Street and Highway 360 in Mansfield. The new concept from Kroger will feature 68,000 square feet of grocery items and 55,000 square feet of general home merchandise, including a kitchenware section, a Fred Meyer jewelry store and a home furnishings section. The opening is expected in summer. Karla Smith and Jean Smith of United Commercial Realty represented The Shops at Mansfield in lease negotiations. In addition to the Kroger Marketplace, Broad Street Commons will include a 16,000 square feet of inline retail space, pad sites and a Kroger fuel station. Conifer Real Estate is developing the project.
LITTLETON, COLO. — Marcus & Millichap has handled Westwood Financial Corp.’s more than $10 million sale of the 122,446-square-foot Coalmine Shopping Center, a grocery-anchored neighborhood center located at West Coal Mine Ave. and South Pierce St. in Littleton. Built in 1976 and renovated in 2006, the property is 92 percent occupied, including anchor tenant King Soopers, Ace Hardware and Goodwill. Marcus & Millichap’s Garrette Matlock and Jon Hendrickson represented Westwood in its sale of the center to New York-based partnership Rothenberg and Rosenfield Inc.
RIO RANCHO, N.M — Tallen & Keshen Holdings has acquired a newly opened Walgreens, located adjacent to an approximately 340,000-square-foot hospital complex currently under construction in Rio Rancho. The store’s sales will benefit from a drive-through pharmacy, a full liquor department and eventually fresh-food selections.
EDGEWATER, MD. — Regency Centers has broken ground on the 271,803-square-foot Village at Lee Airport, a mixed-use center anchored by a 62,911-square-foot Giant Food. Located on Maryland Avenue in Edgewater, the property will also house Panera Bread, Hong Kong Express and Subway. A 75,000-square-foot residential area is also part of the plans. Completion is expected late this year.
RALEIGH, N.C. — Regency Centers and Cary, N.C.-based WelCor Development will break ground Wednesday on the $20 million Market at Colonnade, located at the intersection of Six Forks Road and Colonnade Center Drive in Raleigh. The project will include a 40,000-square-foot Whole Foods Market and 17,000 square feet of additional retail space. Market at Colonnade was designed to LEED standards and is expected to generate 120 construction jobs and 160 permanent jobs. Delivery is slated for 2011.
COLUMBIA, TENN. — Charles Warner of Baker Storey McDonald Properties has brokered Realty Income Corp.'s sale of a 7,500-square-foot former Hollywood Video location to Aaron's Inc., part of a three-property deal valued at $2.06 million. The building, located at 803 S. James Campbell Blvd. in Columbia, will be converted into a Aaron Rents store. The other stores are located in Arkansas and Ohio. Warner, with the help of the firm's Sheldon Griffen, has also brokered BSM Creekside's sale of a 2,500-square-foot building formerly occupied by Regions Bank to Kroger Limited Partnership I for $735,000. The property is located at 1000 S. James Campbell Blvd.
OXFORD, MICH. — Mandy LLC has acquired 20,000 square feet on 3.5 acres of commercial space located at 43 E. Burdick in Oxford. Hi-Hill Lawn Service will occupy the space. James Lumber Co. sold the property for an undisclosed price. Larry Schultz of Friedman Real Estate Group represented the buyer in the transaction.
DUBLIN, CALIF. — Colliers International has arranged Loja Real Estate Fund 1’s purchase of The Shops at Waterford, located at 4440 Tassajara Road in Dublin, from Shea Properties for what is believed to be a price of $44 million. The shopping center is anchored by a 55,000-square-foot Safeway and integrated with a 390-unit apartment complex. Colliers’ Kevin Van Voorhis and Scott Kinsey represented the buyer in the transaction, and Eastdil Secured’s Chris Hoffman and Robb Wehmueller represented the seller.
MONROE, GA. — An Atlanta-based private investor has sold a Monroe Rite Aid to an Atlanta-based buyer for $1.52 million. Located at 703 W. Spring St., the property is NNN leased to Rite Aid for another 7 years. The sale also included 1.57 acres of land. Tim Giambrone of Marcus & Millichap's Atlanta office represented the seller.
INDIANAPOLIS — Mann Properties, along with a group of investors, has formed a real estate investment group to acquire the senior mortgage debt on Georgetown Commerce Park in Indianapolis. Located at 7301 N. Georgetown Road, the center offers 148,845 square feet of retail space. The new investment group, GCP Investment, plans to use Mann Properties to lease and manage the property. Current tenants at the center include Methodist Health Care Center, the National MS Society, Vibbert DDS and Symbios Technologies. Additional terms of the transaction were not disclosed.