LONG BEACH, CALIF. — Bret King and Kirk Garabedian of Marcus & Millichap’s Long Beach office represented the undisclosed seller in the disposition of Bixby Center, a 20,740-square-foot retail center in Long Beach. Located at 4215 Atlantic Ave., the property sold for $6.05 million. The buyer was not disclosed.
BRADENTON, FLA. — A 3,840-square-foot property net-leased to Trustco Bank has changed hands between two undisclosed Florida-based LLCs for $985,000. The property is located at 5858 Cortez Rd. West in Bradenton. John Hines of Marcus & Millichap’s Orlando, Fla., office brokered the sale.
HARRISBURG, ILL. — Los Angeles-based Investment Real Estate Associates (IREA) has arranged the sale of the Old National Bank building, located in Harrisburg, for $3.4 million. The 17,800-square-foot building is situated at Two E. Locust St. and was constructed in 1996. Chris Thompson of IREA represented the tenant-in-common buyers, AAY Arby’s LLC and ACT National 26 LLC. John Glass of Marcus & Millichap represented the seller, ONB Site 26 Landlord LLC.
HOUSTON — Marcus & Millichap has brokered the sale of a 3,000-square-foot retail property located in Houston. The property, currently net leased to Green Planet Cleaners, is situated on 15,000 square feet of land at 16515 Longenbaugh Dr. It was constructed in 2003. Josh Lass-Sughrue of Marcus & Millichap’s Houston office represented the seller, a private investor. The buyer, a locally based private investor, was represented by Stephen Sauter of Marcus & Millichap’s Palo Alto, Calif., office. The acquisition price was not released but the property listed for $340,000.
CARLSBAD, CALIF. — Kunzik & Sara, serving as general contractor, has started construction on Paseo Carlsbad, a 75,000-square-foot retail center in Carlsbad. Located on the corner of Paseo Del Norte and Car County Drive, the center is a development of PacTen Partners for CPT/SC Title Holding Corp. Currently signed tenants include 8,100-square-foot PF Chang’s China Bistro and a 10,470-square-foot BJ’s Restaurant. Gene Fong Architects provided architectural services for the project. The restaurants are slated to open at the end of the year.
NEW BERN, N.C. — Augusta, Ga.-based Hull Storey Gibson Cos. has completed a renovation of its 361,000-square-foot Twin River Mall, now known as The New Bern Mall. The property is located at the intersection of Dr. Martin Luther King Jr. Boulevard and U.S. Highway 70 in New Bern. Exterior work included a new mall entrance with enhanced signage. Workers added new paint, carpet and tile to the interior as well as raising the ceiling and upgrading the bathrooms.
OOLTEWAH, TENN. — GVH Duff Associates has sold a single-tenant property net-leased to BB&T to Arden Square for $1.46 million. BB&T’s 20-year lease of the Ooltewah property includes 12.5 percent rent increases every 5 years. Mark Taylor and Dean Zang of Marcus & Millichap’s Philadelphia office represented the seller. Stanton Falk of the firm’s Cincinnati office represented Arden Square.
AURORA, ILL. — Inland Real Estate Brokerage has completed the sale of an auto dealership, located at 1621 E. New York St. in Aurora, for $690,000. The 2-acre property contains a 5,620-square-foot building with a 3,000-square-foot service center. The property was purchased by the owner of a local used car dealership, who wishes to expand into the new facility. Inland’s Richard Kehoe, Paul Montes and Eric Spiess represented the seller, a local investor.
LOUISVILLE, KY. — Canton, Mass.-based Baskin-Robbins has outlined a plan to open more than 20 new stores in Louisville and surrounding counties. The company is currently searching for franchisee candidates. The ice cream purveyor currently oversees three stores in the Louisville area and operates nearly 2,700 stores throughout the country.
SAN JUAN, PUERTO RICO — Nordstom and Saks Fifth Avenue have signed letters of intent to anchor the Plaza Internacional shopping center. The Puerto Rican property is being developed by Bloomfield, Mich.-based Taubman Centers and San Juan-based New Century Development. In addition to 650,000 square feet of retail space, the development will include a hotel and a casino.