SANTA ROSA BEACH, FLA. — Orlando-based Windcrest Development has sold 10.6 acres of land to Publix for an undisclosed price. Located on Highway 98 in Santa Rosa Beach, the land will be used for the 57,000-square-foot Publix at South Walton shopping center. A 40,000-square-foot Publix will anchor the property, which is slated to deliver in the third quarter. Jason Carnes of GVA Advantis’ Panama City, Fla., office represented both parties in the transaction.
HARRISONBURG, VA. — Virginia Beach, Va.-based Wheeler Interests has purchased the 56,960-square-foot Port Crossing Shopping Center from Baltimore-based Broad Reach Retail Partners for $7.5 million. The center is located near I-81 in Harrisonburg. Food Lion anchors the property, which is 94 percent occupied. Wheeler is planning an 8,400-square-foot expansion.
ROUND ROCK, TEXAS — Jacksonville, Fla.-based Regency Centers has leased 30,000 square feet of space within Market at Round Rock, a 123,046-square-foot shopping center located at 110 N. Interstate 35 in Round Rock. The space, which was formerly occupied by Albertsons, was leased to Phoenix-based natural foods grocer Sprouts Farmers Market. The store is scheduled to open in the fall. Sprouts currently operates 31 locations in Arizona, California, Colorado and Texas. Out of the Texas locations, it operates seven stores in the Dallas area, with more scheduled to open in the Austin area.
COSTA MESA, CALIF. — Newport Beach, Calif.-based Burnham USA Equities Inc. and affiliate Burnham-Ward Properties has purchased out of receivership South Coast Home Furnishing Centre in Costa Mesa. Located at 3333 Hyland Rd., the 300,000-square-foot retail center sold for $35 million. Existing major tenants, include La-Z-Boy, Linder’s, C.S. Wo, Easy Life, Munro’s, Creative Leather and NW Rugs. The center, which was owned by South Coast Home Furnishing Center LLC before receivership, was offered for sale through a court-appointed receiver. Dixie Walker of Grubb & Ellis’ Newport Beach office represented the receiver in the transaction. The buyer plans to convert some of the vacant retail space for office use and home furnishings-related tenants.
CARY, N.C. — Columbus, Ohio-based CASTO has welcomed Bloom Supermarket to the 58,863-square-foot Fairview Village, which is currently under construction in Cary. The 38,000-square-foot store will open during the first quarter of 2010. Bloom Supermarket is a subsidiary of Food Lion.
BOCA RATON, FLA. — Crown Wine & Spirits has sold two of its Boca Raton stores for a total of $3.5 million. A Sarasota, Fla.-based company purchased an 8,750-square-foot store, located at 3500 N. Federal Highway, for $2.25 million. A local private investor purchased a 4,800-square-foot store, located at 757 S. Federal Highway, for $1.25 million. The two transactions were sale-leasebacks, with Crown Wine & Spirits signing 15-year NNN leases. The leases come with 1.5 percent annual rent increases and three 5-year options. Marc Strauss of Marcus & Millichap’s Fort Lauderdale, Fla., office and Adolfo Palacios of the firm’s Miami office represented the seller. Greg Zeifman of Marcus & Millichap’s Miami office represented the Sarasota company, and Evan P. Kristol and Still Hunter, III, of the Fort Lauderdale office represented the local buyer.
EL CAMPO, TEXAS — Weslaco, Texas-based Davis Equity Realty has completed construction of El Campo Town Center, a retail property located at the intersection of Loop 2765 and Highway 71 in El Campo. The development is anchored by Tractor Supply and shadow-anchored by Wal-Mart. Additional tenants include The Mattress Shop, Hibbett Sports, Dollar Tree and Cato. The project was developed by Dale Davis of Davis Equity Realty; it also is being managed by the company. The project is currently 100 percent leased.
LOUISIANA — Covington, La.-based Stirling Properties, a preferred developer of Walgreens drugstores, has commenced construction on four Walgreens stores and has recently completed a fifth store in Louisiana. Openings for a 14,820-square-foot property in Lafayette, La., and 14,490-square-foot stores in Kenner and Meraux, La., are slated for the fourth quarter of this year. A 14,490-square-foot store in Denham Springs, La., will open during the second quarter of 2010. A 14,490-square-foot Walgreens opened in Zachary, La., on February 2.
PLANT CITY, FLA. — Keene Construction Co. of Orlando, Fla., has finished construction on a 45,000-square-foot Publix in Walden Woods, a shopping center that spans more than 70,000 square feet. The store, which was developed by Tampa, Fla.-based RMC Property Group, is located at 2204 James L. Redmond Parkway in Plant City. Orlando-based Cuhaci & Peterson Architects designed the building.
NORMAL, ILL. — Starplex Stadium 14 has been completed within Constitution Trail Centre, which is an approximately 450,000-square-foot shopping center located at the intersection of Interstate 55 and Highway 51 in Normal. The 44,064-square-foot movie theater includes stadium-style seating, digital surround sound, wall-to-wall screens and Star Café. Additionally, Rosati’s Pizza has opened at the shopping center. The 3,650-square-foot restaurant, which seats 90 people, is situated just south of Schnucks. A Wendy’s and a Discount Tire are scheduled to be constructed at Constitution Trail Centre this spring. Taco Bell is the most recent restaurant to commit to the center. Construction of a 2,900-square-foot Taco Bell will begin in the spring of 2010, with completion slated for July 2010. Omaha, Neb.-based DKC Development Ventures is serving as the project manager for the shopping center.