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.
SALINA, KANSAS — Marcus & Millichap's Alvin Mansour and Adam Christofferson have completed the sale and acquisition of Salina Strip Center, which is located at 2629 Market Place in Salina. The 6,400-square-foot retail property sold for $1.07 million. At the time of acquisition, the property was fully occupied by Check N Go, Sprint and Snap Fitness. The seller and buyer were not disclosed.
EDWARDSVILLE, ILL. — U.S. Bank has opened a new location at 1411 Lewis Road in Edwardsville. The 3,300-square-foot facility features four teller stations, three drive-thru lanes, a drive-up automated teller and night drop, safe deposit boxes and a specialized banking team. St. Louis-based The Lawrence Group provided architectural services for the project, which has been submitted for LEED certification. Swansea, Ill.-based Holland Construction Services served as general contractor for the project.