GALLIPOLIS, OHIO — Columbus, Ohio-based Cooper Commercial Investment Group has brokered the sale of Gallipolis Marketplace, a 25,950-square-foot retail property located in Gallipolis. Situated at 2145 Eastern Ave., the building is shadow-anchored by Walmart Supercenter. Tenants at the center include GameStop, Fantastic Sam's, AT&T, Radio Shack, Sally Beauty Supply, Dollar Tree and others. Dan Cooper of the Copper Group represented the seller, Developers Diversified Realty Corp. The acquisition price was not disclosed but the property traded at an 8.75 percent cap rate.
MONTGOMERY, ILL. — Inland Real Estate Brokerage has negotiated the sale of a 12,903-square-foot retail center located in Montgomery. The three-tenant property, which is situated near the intersection of Route 30 and Douglass Road, is currently occupied by a Merlin's Muffler and Sound Experience. The buyer, a Chicagoland investor, plans to bring in an auto repair shop as the third tenant. Rich Artman of Inland's Yorkville, Ill., office represented the buyer as well as the seller, a REIT. The property traded for $720,000.
OAHU, HAWAII — Honolulu-based A&B Properties has acquired the 113,800-square-foot Waipio Shopping Center from an undisclosed party for an undisclosed price. The property is located across the street from the Central Oahu Regional Park in the Waipio master-planned community in Oahu. Developed in the 1980s, the center is anchored by Foodland Supermarket and houses Outback Steakhouse, Pizza Hut, Taco Bell and Big City Diner. Waipio Shopping Center is 99 percent leased.
DRAPER, UTAH — GRH Kaysville and Halker Properties have sold a 14,820-square-foot Walgreens to a private buyer for $5.45 million. The property, which is located at the intersection of Bangerter Highway and South Street in Draper, was built in 2009. Yubin Tao of Investment Real Estate Associates’ Encino, Calif., office brokered the sale.
PHOENIX — Strategic Storage Trust has purchased a 520-unit self-storage property from a private seller for $2 million. The 38,750-square-foot facility is located on 1.4 acres at 727 W. Missouri Ave. in Phoenix. The acquisition is part of a two-property portfolio that includes a facility in Montgomery, Ala.
FORT PIERCE, FLA. — Blue Beacon International has purchased a 4.41-acre outparcel from Flying J for $401,000 and will develop a truck washing facility on the land. The site is located on Orange Avenue in Fort Pierce. Flying J is selling its excess holdings nationwide as part of its bankruptcy plan. Stuart, Fla.-based NAI Southcoast’s Boyd Bradfield and Nikolaus Schroth represented Flying J in the transaction.
MONROE, WIS. — Lee & Associates has completed six new leases at The Marketplace at Monroe, a new 31,000-square-foot shopping center currently under construction in Monroe. The new tenants include Maurice's, Dollar Tree, Anytime Fitness, The Cash Store, Verizon Wireless and Shoe Department. Currently, 6,200 square feet remains for lease at the center. Steve Doran and Jared Flesch of Lee & Associates represented the landlord and developer of the center, Memphis-based Marketplace Development, in all lease transactions.
BULVERDE, TEXAS — Construction has begun for Berry Oaks Shopping Center, a new retail project located in Bulverde. The 19,349-square-foot neighborhood retail center will be situated at the intersection of Highway 46 and Berry Oaks Drive. Tenants already secured include Smoky Mo's Bar-B-Q, Quality Dollar, Texas Paddlesports and Pinky's Nail Salon. Letters of intent have also been secured for three additional tenants. Completion is slated for November. Brandt and Clayton Klutts are developing Berry Oaks. Gene Williams and Marcus Shaffer of The Weitzman Group are handling leasing.
CHANDLER, ARIZ. — Phoenix-based The Richard Solomon Group is moving toward completion of its work on the 170,000-square-foot Mill Crossing shopping center. The $12.5 million property is located in Chandler. RSG’s work includes construction of 43,000 square feet of in-line shopping space and tenant improvements for a 10,180-square-foot Shoe Carnival and a 4,990-square-foot Sears Appliance Store. The firm is also undertaking sitework on 17.11 acres for JC Penney, which is expected to open in the center’s anchor position in October.
LEMOORE, CALIF. — Lior Regenstreif of Marcus & Millichap’s Encino, Calif., office has represented a privately held REIT in the sale of Jack in the Box store to an undisclosed party for $1.43 million. The 2,646-square-foot property is located in Lemoore.