TITUSVILLE, FLA. — Titusville, Fla.-based SBI Leasing has purchased a 10,811-square-foot restaurant from Palo Alto, Calif.-based Sovereign Investment Co. for $1.1 million. The building, which was formerly a Whistle Junction restaurant, is located at 3125 Columbia Blvd. in Titusville. Paul Partyka of NAI Realvest’s Maitland, Fla., office represented the seller.
SOUTH HACKENSACK, N.J. — NAI James E. Hanson has brokered the sale of two retail properties located in South Hackensack for more than $2 million. The first property, located at 460 Route 46 West, consists f a 12,500-square-foot, freestanding building that is currently leased to Syntec Technical School. NAI's Anthony Cassano represented the buyer, Dr. Robert Yang. The second property, located adjacent to the first at 480 Route 46 West, is a 5,000-square-foot, freestanding building currently leased to Marcone Appliance Parts. Cassano represented the buyer, David Haziza. Cassano also represented The Estate of Hans Wertheimer, the seller in both transactions.
BILOXI, MISS. — Hoar Construction will soon start work on a 161,000-square-foot addition to the Department of Veterans Affairs hospital in Biloxi. The addition consists of four operating rooms, 20 patient rooms and seven ICU rooms. Hoar will build the project adjacent to the existing hospital, connecting the new building to the current facility.
CUMMING, GA. — With the opening of Atlanta Fitness and Ace Hardware, Roberts Commercial Real Estate has completed the first phase of its 100,000-square-foot Windermere Village retail development. The project, which is located at the intersection of Windermere Parkway and Front Nine Drive in Cumming, sits across from an entrance to Windermere Community. When complete, the project will include restaurants and additional retailers.
LITTLE ROCK, ARK. — Dallas-based Strode Property Co. has secured Target as a major tenant in the company’s 711,000-square-foot Park Avenue mixed-use project, which is currently under development. Target is expected to open a 138,000-square-foot store in October 2010. Park Avenue is located on University Avenue in Little Rock.
WASHINGTON, IND., AND PLYMOUTH, MICH. — McKinley has been appointed receiver for two retail properties in Indiana and Michigan. Daviess County Circuit Court of Daviess County, Ind., appointed McKinley as receiver for Washington Plaza, a 92,000-square-foot retail center in Washington. Current tenants include Hometown IGA, Dollar General and Rent-A-Center. Additionally, McKinley has been appointed receiver of a 30,000-square-foot retail building in Plymouth. The multi-tenant building is occupied by Laird’s Auto Glass, Enterprise Car Rental and a collision shop. The appointment was made by Wayne County, Ind., Circuit Court.
DALLAS — Marcus & Millichap has brokered the sale of a Chase Bank Retail Center located at 8930 RL Thornton Freeway in Dallas. The 9,100-square-foot property is situated within a shopping center that also contains All Smiles Dental, Mora & Associates CPA and Pizza Patron. Philip Levy, Jason Vitorino and John Perry of Marcus & Millichap's Dallas office represented the seller, a developer. The buyer is a private investor completing a 1031 exchange. The acquisition price was not disclosed.
KENNETH CITY, FLA. — Centro Properties Group has sold the 95,320-square-foot Plaza 66 shopping center to Plaza 66 LLC for an undisclosed amount. The property, which is located in Kenneth City, is anchored by a 55,230-square-foot Sweetbay Supermarket. Plaza 66 is 91 percent occupied and houses Family Dollar, Cici’s Pizza, Rent-A-Center, Fantastic Sam’s and Jackson Hewitt Tax Service. Jim Michalak, Anthony Blanco and Lenard Williams of Plaza Advisors represented the seller.
RICHMOND, VA. — Alexander Enterprises-1 has sold a 16,813-square-foot retail property to Michael D. Sifen Inc. for $1.2 million. Located at 4300 W. Broad St. in Richmond, the building sits on 2.71 acres and is home to a Budget Rent-A-Car store. The buyer plans on redeveloping some of the space, keeping the tenant on site. Thalhimer’s Bruce Bigger and Millard Jones brokered the sale.
BATTLEFIELD, MO. — Chambers Real Estate Services has brokered the sale of a 32-acre land parcel located at the corner of state highways M and FF in Battlefield. The buyer, Larino Properties, plans to develop the site into a grocery-anchored shopping center named Wilson Creek Marketplace. The anchor tenant will be a 52,000-square-foot Price Cutter. The construction timetable for the project was not disclosed.