CORPUS CHRISTI, TEXAS — KWM Investments has purchased a 6,500-square-foot building formerly occupied by Hertz Equipment Rentals from The Hertz Equipment Rental Corp. for an undisclosed price. The property is located0 on 2.14 acres at 921 Port Ave. in Corpus Christi. The tenant plans to undertake interior and exterior upgrades to the facility, which features a 1,000-square-foot covered wash bay. NAI Cravey Real Estate Services brokered the sale.
BLACKFOOT, IDAHO — Stan Johnson Co. has completed the $1.725 million sale of a 7,790-square-foot shopping center in Blackfoot. Located on a 0.73-acre pad site at a Walmart Supercenter, the retail property is 100 percent leased to three national tenants and one local. Stan Johnson’s Gill Warner represented the retail developer in its sale of the property to a 1031-exchange private investor.
NEWARK, N.J. — The Goldstein Group has brokered the sale of a freestanding Walgreens pharmacy located in Newark. The building is situated at 361-397 Bergen St. and is part of a shopping center that also includes The Home Depot, Applebee's and Wendy's. The buyer was undisclosed and the seller was Springfield Bergen LLC. The sale price was not release, but the property traded at a 6.5 percent cap rate. The Goldstein Group also negotiated the sale of the land for the building's development as well as the leasing of the building to the pharmacy chain.
SPRINGFIELD, N.J. — No Body Denied Health Club has opened a 21,500-square-foot anchor location within Echo Plaza, a shopping center located at the intersection of Mountain Avenue and U.S. Route 22 in Springfield. The fitness center includes a cycle studio, group fitness classrooms, a youth sport training zone and childcare areas. No Body Denied will join co-anchor Stew Leonard's Wine & Spirits at the shopping center, which is undergoing a repositioning. Other tenants include Outback Steakhouse, Sherwin Williams, Echoqua Italian Bistro and Chen's 22 Chinese restaurant. Larken Associates is the owner of Echo Plaza and Levin Management Corp. is the leasing agent.
WOBURN, MASS. — Jones Lang LaSalle (JLL) has arranged the sale of a 5.6-acre redevelopment site located at 399 Washington St. in Woburn. The property was previously occupied by the Lannan Buick Pontiac auto dealership. Jim Koury and Nathaniel Heald of JLL represented the seller, Argonaut Holdings, and procured the buyer, Nai Nan Ko. The acquisition price was not disclosed.
ARLINGTON, TEXAS — An undisclosed private investor has sold a 3,863-square-foot Wachovia to an undisclosed buyer. Wachovia is on the second year of a 20-year ground lease for the property, which is located at 4380 W. Green Oaks Blvd. in Arlington. Philip Levy, Tommy Tucker and Jason Vitorino of Marcus & Millichap's Dallas office represented the seller. Dennis Leslie and Adam Paulsen of the firm's San Diego office represented the buyer. The sale price was not released.
NORTH BRANFORD, CONN. — Tranzon Integrated Property Group has completed the sale by auction of Central Plaza Shopping Center, a 50,000-square-foot retail property located in North Branford. The property traded for $2.86 million. Andrew Buzzi, Jr., of law firm Buzzi & Terbrusch represented the undisclosed seller. The buyer's name was also not released.
MIAMI BEACH, FLA. — SIKON Construction of Deerfield Beach, Fla., has broken ground on an 84,000-square-foot grocery project at 1800 West Ave. in Miami Beach. The property was designed by api(+) Architects. The property includes a 28,000-square-foot The Fresh Market store with a two-story parking deck on top. Delivery is expected during the fourth quarter.
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.