WARR ACRES, OKLA. — Hunington Properties has brokered the sale of a Walgreens pharmacy located at the corner of North MacArthur Road and Northwest 63rd Street in Warr Acres. Philip Mullett and Sandy Aron of Hunington represented the seller, an Illinois family trust. The buyer and the acquisition price were undisclosed.
Retail
VIDOR, TEXAS — Marcus & Millichap has completed the sale of an 11,200-square-foot CVS/pharmacy located in Vidor for $2.2 million. The property is situated on 1.3 acres at 1295 N. Main St. It was constructed in 1999. CVS currently occupies it under a 20-year, triple-net lease with four 5-year options. Alvin Mansour of Marcus & Millichap's San Diego office partnered with the firm's Dallas office to represented the seller, an undisclosed seller. Mohamed Derbala of Marcus & Millichap's Tampa, Fla., office represented the buyer, a limited liability company. Tim Speck of Marcus & Millichap assisted in the transaction.
GAINESVILLE, FLA. — Franklin Street Real Estate Services' Mac McCall represented a Jacksonville, Fla.-based private party in its sale of a Dollar General to an undisclosed buyer for $1.3 million. The 9,000-square-foot property is located on 1 acre of land in Gainesville. Barry Wolfe of Marcus & Millichap represented the Tampa, Fla.-based buyer.
SEAFORD, DEL. — Stan Johnson Co. (SJC) has brokered the sale of a 19,086-square-foot Tractor Supply Co. located in Seaford for $3.04 million. Gill Warner of SJC represented the seller, a private retail developer. Robert Rubin of NAI James E. Hanson represented the buyer, an individual investor.
COOPER CITY, FLA. — Prince of Cooper City has purchased the 53,857-square-foot Stirling Town Center from Stirling Associates for $15.33 million. The property is located at 8637 Stirling Road in Cooper City. Starbucks, Coldstone Creamery and Beef O'Brady's are housed in the center. Dave Donnellan, Bill Strauss and Todd Weintraub of CB Richard Ellis brokered the sale.
SANDUSKY, OHIO — Hoty Enterprises has plans to construct a heated storage facility at Sandusky Bay in Sandusky. Located on First Street at Son Rise Marina, the 24,000-square-foot building will be able to accommodate boats up to 66 feet. Construction is scheduled to begin in March, with completion slated for July. Hoty Builders, a Hoty affiliate, will serve as general contractor for the project.
BLOOMINGTON, MINN. — Welsh Capital has arranged a $6.67 million loan for the refinancing of a Park ‘N’ Go facility in Minnesota. The property is located at 7901 International Drive in Bloomington. The fixed-rate financing includes net proceeds to the undisclosed borrower.
ROANOKE, VA. — Kroger LP has sold a 39,980-square-foot Kroger store to Branch Management Corp. for an undisclosed amount. The property is located on 4.82 acres at 3419 Orange Ave. in Roanoke. The buyer plans to redevelop and lease the store, which Kroger has occupied since 1984. Tommy Drew of S.L. Nusbaum Realty Co. represented Kroger in the transaction.
NORTON SHORES, MICH. — Norton Shores-based Horizon Group Properties has completed the disposition of minority interests in the entities that own five of its outlet centers to Bright Horizons of South Florida. The buyer acquired a 22.5 percent interest in the entities that own outlet centers in Burlington, Wash., Fremont, Ind., Gettysburg, Pa., and Oshkosh, Wis., and a 19.6 percent preferred interest and a 17.8 percent common interest in a center in El Paso, Texas. Bright Horizons has agreed to acquire an additional 26.5 percent interest in the properties in Burlington, Fremont, Gettysburg and Oshkosh, and an additional 23.6 percent preferred interest and an additional 21.8 percent common interest in the El Paso property on or before March 31, 2010. Bright Horizons is an entity controlled by Somerset Outlet Center.
LAKEWOOD, OHIO — Ian Harrison of Marcus & Millichap has arranged a $4.6 million loan for the acquisition of a Walgreens drugstore in Lakewood. Built in 2007, the 14,000-square-foot property has 23 years remaining on the initial lease term. The loan has a loan-to-value of 83.1 percent and a 6.57 percent fixed-interest rate for 23 years. The borrower was not disclosed.