Berkeley, Calif. — Marcus & Millichap Real Estate Investment Services has handled the sale of a 1,647-square foot Precision Tune Auto Care, located in Berkeley, for $2.3 million. David Ching and Norman Ng, investment specialists in Marcus & Millichap’s Oakland, Calif., office, represented both the seller, a limited liability company, and the buyer, a private investor.
Retail
BALTIMORE — Pikesville, Md.-based Hollins Partners has purchased a 44,332-square-foot retail building from Bank Street Holdings for $6.5 million. The property is located at 1300 Bank St. in Baltimore. Tenants in the building include Lemongrass, Mustang Alleys, a bakery and a gym. Jonathan Beard of CB Richard Ellis’ Baltimore office brokered the sale.
DECATUR, GA. — Dallas-based Capmark Financial has sold the 215,000-square-foot Wesley Chapel Square shopping center to BDB Capital for $6 million. The property is located on Wesley Chapel Road in Decatur. The Kroger-anchored center houses 23 retail tenants. Joe Montgomery and Tony D’Ambrosio of Atlanta-based Colliers Spectrum Cauble represented Capmark.
ELLSWORTH, MAINE — A new Walmart has opened at Acadia Crossing, an open-air shopping center located in Ellsworth. The new Walmart marks the completion of Phase II construction at the 500,000-square-foot center. Acadia Crossing is located at the intersection of routes 1 and 3. Other anchors at the center include The Home Depot.
DENTON, TEXAS — Appliance and electronics retailer Conn's has leased 30,281 square feet of retail space at The Shops at Colorado in Denton. Situated at the corner of Loop 288 and Colorado Boulevard, the space was previously occupied by Circuit City. The location marks Conn's first in Denton, and it is scheduled to open by early November. The retailer will join a tenant roster that includes Staples and Party City. Earl Harris and Blake Shipp of The Weitzman Group represented the landlord in lease negotiations. Conn's was represented by Jennifer Frank of The Woodmont Company. Terms of the lease were not disclosed.
AVON, OHIO — Phase I construction is nearing completion for City Center of Avon, a 100,000-square-foot retail project located in Avon. As part of the first phase, which is slated to open this fall, Sport Clips has signed a lease for space at the center. Phase II will include a 46,000-square-foot Marc's store that will anchor the center as well as 7,000 square feet of adjacent space. Phase III will include a 12,000-square-foot building that will be partly occupied by Vitamin Shoppe. Completion for Phase III of the project is scheduled for summer 2010. In addition, a Huntington Bank branch is under construction in an outlot location. Goodman Real Estate Services is providing lease services for the project.
MAMARONECK, N.Y. — Houlihan-Parnes Realtors has arranged the acquisition of The Post Road Center, a 16,000-square-foot retail strip center located in Mamaroneck. Constructed in 1966, the center is located at 587-621 E. Boston Post Rd. It is occupied by 13 tenants, including Circle Swim Shop, Edible Arrangements, Mamaroneck Flowers, Post Restaurant and Pizza Gourmet. Jim Coleman of Houlihan-Parnes arranged the deal. The buyer, an undisclosed party participating in a 1031 exchange, plans to complete upgrades to the property. The seller was not disclosed.
RICHMOND, VA. — Two former Circuit City locations in Richmond have been leased to hhgregg by undisclosed landlords. The tenant will move into a 43,505-square-foot store in the Chesterfield Towne Center, which is located on Huguenot Road. hhgregg will also occupy 34,575 square feet of space at Short Pump Town Center, which is located on West Broad Street. David Smith of Thalhimer’s Richmond office represented hhgregg.
OXON HILL AND LAUREL, MD. — Bill Libercci of NorthMarq Capital’s Baltimore office has arranged $4.3 million in financing for two self-storage facilities. An 811-unit U-Store property in Oxon Hill received $2.2 million, and a 777-unit store in Laurel received $2.1 million. Advantus Capital Management funded the loans.
ALEXANDRIA AND LEESVILLE, LA. — Dallas-based Paul Darden Co. has acquired a four-property self-self storage portfolio from a private seller for an undisclosed amount. The buildings, which total 163,000 square feet and encompass 1,500 storage units, are located in Alexandria and Leesville. Together, the properties are more than 90 percent occupied. Jerry Rhodes, an associate of Paul Darden Co., represented the seller. Acquisition financing was arranged by Dana Deason of Longview, Texas-based Deason Financial Group.