ARIZONA — Goodwill Industries of Central Arizona Inc. has leased more than 118,000 square feet across four new retail store locations in Phoenix, Mesa, Peoria and Tempe. Today’s Tempe opening marks Goodwill’s 43rd location in central Arizona. Velocity Retail Group’s Andy Kroot represented Goodwill in the transactions.
Retail
SALIDA, COLO. — Marcus & Millichap has handled the nearly $2.8 million sale of Salida Center, a 20,400-square-foot retail property located at 101 W. Hwy. 50 in Salida. The property is net-leased to Family Dollar, Sherwin Williams and Autozone for 10- and 15-year terms. Marcus & Millichap’s Jason Burns represented the seller, a retail developer.
SOMERSET, KY. — Dunham’s Sports has signed a 44,895-square-foot lease with an undisclosed landlord for space in the Grand Central Place shopping center. The property, located on U.S. Highway 27 in Somerset, houses Kroger and Peebles. Paul Ray Smith and Jim Kemper of NAI Isaac Commercial Properties represented the landlord in the transaction.
AURORA, ILL. — TMK Development/Inland Real Estate has completed the disposition of a Walgreens location in Aurora. The 14,820-square-foot retail store is situated in a Super Wal-Mart-anchored shopping center, which is located at the corner of Butterfield and Kirk roads. A private investor from Nebraska acquired the property for an undisclosed price. Oakbrook Terrace, Ill.-based Mid-America Real Estate Corp.’s Mark Goldberg and Tom Fritz represented the seller in the transaction.
ODESSA, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged a $3 million acquisition loan for West County Shopping Center in Odessa. The 112,771-square-foot retail property is located at the intersection of North County Road and 16th Street. It was 82 percent leased at the time of closing by a tenant roster that includes Save A Lot, Bealls, Dollar General, State Farm Insurance, Little Caesar's, H&R Block, Sally Beauty Supply, Family Dollar and Bank One. The loan, which carries a 5-year term and a fixed interest rate, was secured by Todd McNeill of MCA. The borrower is Kaufman Property Co. and the lender is a Dallas-based regional bank.
GREENWOOD VILLAGE, COLO. — Pinnacle Real Estate Advisors has represented both parties in the $2.5 million sale of a net-leased Romano’s Macaroni Grill, located at 7979 E. Arapahoe Rd. in Greenwood Village. Rob Edwards, Tom Ethington and Justin Krieger of The Pinnacle Retail Group represented the out-of-state seller Cardinal Capital, and the group’s Russ Agnew represented the local buyer Bowaut Inc.
BOCA RATON, FLA. — Boca Raton-based Fimiani Development has been tapped as receiver of the 6,065-square-foot Yamato Plaza. The property is located adjacent to a Lifetime Fitness and a Hampton Inn on Yamato Road in Boca Raton. This assignment is the company’s first foray into receivership services.
BRIDGEVILLE, PA. — Pittsburgh-based Burns & Scalo Real Estate Services has begun construction for Bursca Frontgate I, a $2 million, multi-phase retail project located in Bridgeville. The project will be situated along Route 50 at the entrance to Bursca Business Park.The first phase of construction will consist of the renovation of an existing 8,000-square-foot building that will house New Dragon Express and Sudsy's Beer Distributor. A 3,000-square-foot space remains for lease. Completion is slated for May 2010. Phase II of construction will include the demolition of an existing building on the property and the construction of a new 6,000-square-foot retail building. Phase II completion is scheduled for December 2010.
AUSTIN, TEXAS — Marcus & Millichap has brokered the sale of a Wachovia bank branch ground lease located in Austin. The building, which was constructed in 2005, totals 4,200 square feet and is located at 11302 FM 2222. Philip Levy and Jason Vitorino of Marcus & Millichap's Dallas office, along with Stephen Stein of the firm's Los Angeles office, represented the undisclosed seller. Michael Shover, Tom Gorman and Matthew Gorman of Marcus & Millichap's Philadelphia office represented the buyer, a private investor.
BELLE VERNON, VA. — TSC/Belle Vernon has sold a 19,104-square-foot retail building in Belle Vernon to Columbia Properties Belle Vernon for $3.12 million. The property spans 3.7 acres and is leased to Tractor Supply Co. Mac McCall of Marcus & Millichap’s Atlanta office represented the seller in the transaction. Leonard Mazzone represented the buyer.