CAMBRIDGE, MASS. — A new Trader Joe's grocery store has opened at 321 Alewife Brook Parkway in Cambridge. The store occupies 14,000 square feet within a 47,000-square-foot shopping center that is being redeveloped by Linear Retail Properties. Additional tenants at the center include co-anchor CVS/pharmacy, T-Mobile, Chipotle Mexican Grille, SavMor Spirits and Sleepy's.
STUART, FLA. — Boston-based Cedar Pointe Plaza LLP has sold the 79,000-square-foot Cedar Pointe Plaza to New York-based Cedar Pointe Properties for $7.45 million. The property, located on East Ocean Boulevard in Stuart, was under contract for $12 million a few years ago. Tammy Roncaglione of Gulfstream Business Bank provided financing for the purchase. NAI Southcoast’s Jeremiah Baron and Boyd Bradfield brokered the sale.
WILMINGTON, N.C. — Inland Western REIT has sold a 57,230-square-foot Harris Teeter in Wilmington to Lake Davidson Village LLC for $5.4 million. The property is located at 820 S. College Rd. Harris Teeter has leased the space through 2015. Jim Hamilton, Richard Reid and Kevin Hurley of Holliday Fenoglio Fowler represented the seller.
CRYSTAL LAKE, ILL. — The Salvation Army has leased 14,100 square feet of space at The Commons at Crystal Lake, which is located at the intersection of Northwest Highway and Main Street in Crystal Lake. Terms of the lease transaction were not released. Tracy Salerno provided in-house representation for the landlord, Centro Properties Group, in the transaction.
BENSENVILLE, ILL. — Regency Centers has leased 14,066 square feet of retail space to Fabrics, Etc. 2. The space is located within the 125,585-square-foot Brentwood Commons, which is located at 1145 S. York Rd. in Bensenville. The company, which specializes in fabrics, notions, sewing machines and classes, plans to open for business in March 2010. Additional terms of the lease were not disclosed. Regency Centers owns and manages Brentwood Commons.
YPSILANTI, MICH. — Nobel’s Custom Clothing has leased retail space at Roundtree Place, which is located near the intersection of Ellsworth and South Hewitt roads in Ypsilanti. The custom fit men’s clothing retailer recently opened for business at its new location. Justine O’Brien of Centro Properties Group provided in-house representation for the company, which owns the property. The lease’s value was not disclosed.
GALT, CALIF. — NAI BT Commercial has handled the more than $5 million sale of a newly constructed 21,304-square-foot freestanding retail building located at 10520 Twin Cities Rd. in Galt between Sacramento and Stockton. Tractor Supply Company has a 15-year net-lease agreement on the property. NAI’s Andy Bogardus, Douglas Longyear and Chris Sheldon represented the seller, and the brokerage firm’s Jay Hagglund joined Bogardus in representing the buyer.
VIRGINIA BEACH, VA. — The City of Virginia Beach Development Authority has purchased a 38,414-square-foot retail property, formerly a Circuit City store, from CC Virginia Beach for $5 million. The building sits on 3.17 acres in the Town Center of Virginia Beach mixed-use development. The development authority will eventually incorporate the property into its Central Business District master plan. Alexander Divaris, Jason Oliver and Gerald Divaris of Virginia Beach-based Divaris Real Estate represented the buyer.
KANSAS CITY, MO. — Soave Enterprises has completed the development of a Mercedes-Benz Auto Dealership in Kansas City. The 30,000-square-foot facility features concrete tilt wall panels, aluminum composite panels, a glass curtain wall, exposed steel and granite. The $6.7 million building features a showroom, a boutique area, a customer drive-in, a full maintenance shop, an auto wash and a vehicle delivery area. HDA Architects provided architectural services for the project.
LIVONIA, MICH. — Big Lots has leased a 40,000-square-foot retail space at Musicland Shopping Center, which is located at the intersection of Tech Center Drive and Plymouth Road in Livonia. Terms of the lease were not released. Robert Saggese provided in-house representation for the landlord, Centro Properties Group.