VIRGINIA BEACH, VA. — Capital Finance has purchased the 5,680-square-foot Lynnhaven Quarters retail complex from Lynnhaven Quarters LLC for $1.09 million. The property is located at 800 S. Lynnhaven Rd. in Virginia Beach. Natalie Hucke and Kevin O’Keefe of Thalhimer’s Virginia Beach office brokered the sale.
Retail
MINNEAPOLIS — The Minneapolis/St. Paul office of Colliers Turley Martin Tucker (CTMT) has completed the sale of 10,592 square feet of retail space at Skyscape, a 250-unit residential condominium project located at the corner of Ninth Street and Portland Avenue in Minneapolis. The space was acquired by Velmeir Properties, a preferred developer of CVS/pharmacy stores, which plans to build a new location in the building. Skyscape contains 11,000 total square feet of retail space; the only unit that remains is a small space with outdoor seating designed for a restaurant or coffee shop. CTMT’s Andrea Christenson, Matt Klein and Kelcey McKean represented the seller, Chicago-based Tandem Developers, which is developing Skyscape. The acquisition price was not disclosed.
FORT WORTH, TEXAS — A 168,446-square-foot Sam Moon Center has opened within Alliance Town Center at 9120 North Freeway in Fort Worth. The center is anchored by a Sam Moon Trading Co. store and a Sam Moon Luggage & Gifts store. This is the Dallas-based discount retailer’s first expansion into the Fort Worth market.
CHEYENNE, WYO. — The Australian REIT Centro Properties has sold the 155,022-square-foot Cheyenne Plaza shopping center to Denver-based Perry & Associates for $6.75 million. Located at 3501-3773 E. Lincoln Way in Cheyenne, the property is 81 percent leased. Tenants include Dollar Tree, Big Lots and Rent-A-Center. Cushman & Wakefield of Colorado represented the seller.
GRAND PRAIRIE, TEXAS — Dallas-based Henry S. Miller Brokerage (HSMB) has arranged the sale of a 2-acre land parcel, located at 3110 Roy Orr Blvd. in Grand Prairie. The property currently contains a 2,500-square-foot retail building leased as a Supreme Golf. The property was acquired by TSS Real Estate Holdings, which plans to use the site for future development, which could possibly include a service station or fast food restaurant. The seller was Edwin Peterman, the owner of Supreme Golf. HSMB’s Pete Richardson and Andrew Richardson negotiated the transaction. The acquisition price was not disclosed.
CATHEDRAL CITY, CALIF. — An undisclosed buyer has acquired Mary Pickford Cineplex for $12.1 million or $234.52 per square foot. The 66,732-square-foot retail property is located at 36-850 Civic Center Dr. in Cathedral City. Martin Cohan and Joshua Levy of Marcus & Millichap represented the undisclosed seller in the transaction.
NAPLES, FLA. — Fort Myers, Fla.-based J.L. Wallace has started construction on a 12,900-square-foot CVS/pharmacy in Naples. The property is located at 8831 Immokalee Rd. in Naples. J.L.’s services include construction of a drive-thru area, automatic glass doors, a single-ply roofing system over lightweight concrete and site work. Robert Reid Wedding Architects and Planners designed the store, and Coastal Engineering Consultants is providing engineering services.
BRADENTON, FLA. — A developer based in Pinellas County, Fla., has purchased a 4,160-square-foot CarMax Buying Center from an undisclosed LLC for $1.39 million. Located at 3808 W. 14th St. in Bradenton, the property is an outparcel in Centre Pointe Commons. Michael Jaworski represented both parties in the transaction.
CHESAPEAKE, VA. — David Ching of Marcus & Millichap’s Oakland, Calif., office has represented an undisclosed buyer in the purchase of a 2,563-square-foot Burger King store from an undisclosed seller for $1.31 million. The property spans 1.21 acres at 217 Carmichael Way in Chesapeake.
ST. PAUL, MINN. — St. Paul-based AEI Capital Corp. has acquired a portfolio of Best Buy stores for more than $30 million. The portfolio contains six stores: one each in Colorado, Michigan, Minnesota and Texas, as well as two stores in Wisconsin. The properties were acquired from multiple sellers. AEI acquired the stores on behalf of several of its net-leased property investment funds. The sellers were not disclosed.