OMAHA, NEB. — Grubb & Ellis|Pacific Realty has brokered the sale of Eagle Run Square II retail center located at 3661-3677 North 129th St. in Omaha. Eagle Run Center 129 LLC has purchased the 15,000-square-foot center for approximately $1.43 million. Kyle Peterson and Bill Balak of Grubb & Ellis|Pacific Realty represented the undisclosed sellers in the transaction.
NEW LONDON, CONN. — New York-based Savills has brokered the sale of New London Shopping Center, a 260,000-square-foot retail property located in New London, for $40.7 million. The center was 99 percent occupied a the time of closing. It is anchored by ShopRite Supermarket, Marshalls, HomeGoods, PetSmart and A.C. Moore. Additional tenants include Guitar Center, West Marine, Famous Footwear, Hallmark, Sally Beauty Supply and Chili’s Grill & Bar. Savills represented the seller, a joint venture between JPMorgan Investment Management and Centro Properties. The buyer was Cedar Shopping Centers. The shopping center traded at a 7.7 percent cap rate.
NEW YORK CITY — CB Richard Ellis Capital Markets Group (CBRE) has secured $1.4 million in acquisition for a 14,000-square-foot gas station located at 456-60 Bushwick Ave. in New York City. The loan carries an 8.5 percent fixed rate, a 5-year term with a 25-year amortization schedule and a 67 percent loan-to-value ratio. The borrower, 456 Bushwick LLC, used the proceeds to help acquire the property at a price of $2.1 million and a 9.1 percent cap rate. The property is currently subject to a 15-year lease, with BP as the fuel provider. CBRE’s Efrat Sharon originated the loan on behalf of the borrower through a local credit union.
GRAND PRAIRIE, TEXAS — Kansas City, Mo.-based Block & Co. has brokered the sale of an approximately 60-acre development parcel located along Interstate 20 between Highway 360 and Great Southwest Parkway in Grand Prairie. The buyer, Prime Outlets, plans to develop an approximately 500,000-square-foot outlet center on the property. Construction is slated to begin this year. David Block and Gene Moffitt of Block & Co. negotiated the sale. Block had previously assisted the undisclosed seller in the disposal of a number of sites surrounding the land parcel. Tenants already open near the proposed outlet center include Garden Ridge, Northern Tool, Johnny Carino’s, Chuck E. Cheese, Goodyear, Golden Corral and Longhorn Harley-Davidson. Three pad sites currently remain for sale.
LAS VEGAS — R&O Construction Co. has completed the second phase of construction at Centennial Gateway, a 360,000-square-foot retail center located at 5603 Centennial Center Blvd. in Las Vegas. The 124,141-square-foot second phase consists of seven retail building and improvements of infrastructure, parking and landscaping. Centennial Gateway is owned and developed Las Vegas-based Territory Inc.
MIAMI — Two private real estate investment groups have purchased two U-Store-It properties totaling more than 137,000 square feet from an undisclosed buyer for $2.97 and $4.63 million. The assets, which are both located in Miami, were part of a 21-property portfolio. Chico LeClaire of Marcus & Millichap’s Denver office and Michael Mele of the firm’s Tampa, Fla., office represented the seller. Greg Zeifman of the firm’s Miami office represented the buyer.
ENNIS, TEXAS — Indianapolis-based Riser Retail Group has completed the sale of Ennis Plaza, a 31,360-square-foot retail center located in Ennis, for $5.07 million. The center, which was constructed in 2002, is shadow-anchored by a Wal-Mart Supercenter. It was 92 percent occupied at the time of sale by a tenant roster that includes Starbucks Coffee, Dollar Tree, CATO and Chili’s Grill & Bar. Riser represented the private seller in the transaction; the buyer was also undisclosed. The property traded at a 7.4 percent capitalization rate.
SAN FRANCISCO — Deerfield, Ill.-based Walgreens has signed an agreement to acquire 12 Rite Aid locations in San Francisco and eastern Idaho. The seven San Francisco locations are 1300 Bush St., 5280 Geary Blvd., 1496 Market St., 776 Market St., 200 W. Portal Ave., 1830 Ocean Ave. and 3931 Alemany Blvd; and the five Idaho locations are 1000 Pocatello Creek Rd. in Pocatello, 960 W. Bridge St. in Blackfoot, 1139 Addison Ave. East in Twin Falls, 904 E. Main St. in Burley and 1745 W. Broadway St. in Idaho Falls. Terms of the transaction were not disclosed.
CHARLESTON, S.C. — Working as Southeastern Pizza Group, Charleston-based JEM Restaurant Group has purchased 40 Pizza Hut restaurants from an undisclosed party for an undisclosed price. The restaurants are located in Jacksonville, Fla., and Columbus and Macon, Ga. The transaction included real estate, leasehold interests and restaurant operating equipment.
NAPLES, FLA. — George P. Atkinson Family Trust has sold a 7,150-square-foot retail building, located at 411 Tamiami Trail N. in Naples, to DNR Realty for $2.85 million. The buyer plans to open a drug store on the property. George Atkinson of CB Richard Ellis’s Fort Myers, Fla., office represented the seller. Naples-based Thompson Realty’s Andy Morrison represented the buyer.