LAKELAND, FLA. — Odyssey (IX) Commercial DP IV has purchased the 132,000-square-foot Palm Center shopping center from Lakepalm Shopping Center for an undisclosed amount. The property, which is anchored by Beall’s Department Store, Beall’s Outlet and Tuesday Morning, is located at the intersection of Highlands Drive and S. Florida Avenue. RMC Property Group represented the seller, and Century Retail represented the buyer.
CONCORD, N.C. — Louisville-based Lexington Realty Advisors has purchased a 23,670-square-foot Food Lion from Cornelius, N.C.-based Chen Development for $1.8 million. The property is located at 734 Cabarrus Ave. West in Concord. Richard Frolik of CB Richard Ellis’s Oak Brook, Ill., office and Sterling Champ and Mike Kimball of the firm’s University City, Calif., offices represented the seller.
CHICAGO — The Oak Brook, Ill., office of Inland Real Estate Brokerage has negotiated the sale of two shopping centers in Chicago for more than $5.8 million. Inland’s Richard Kehoe represented a local investor in the disposition of the property to an independent investment group. Located in West Rogers Park, Howard and Western Plaza comprises 11,974 square feet of retail space. Tenants include Starbucks Coffee, Family Dollar and Subway. Wisner Milwaukee Plaza is a 14,677-square-foot center located at 2847-2865 North Milwaukee Ave. in Logan Square. Tenants include Harris Bank, T-Mobile, Giordano’s and Subway.
LONG BEACH, CALIF. — W.E. O’Neil Construction has completed improvements to passenger waiting areas and a VIP passenger lounge at the Carnival Cruise Terminal in Long Beach. The improvements allow the terminal to accommodate Carnival’s new 3,000-person cruise ship, Splendor. Designed by Teltra Design, the project involved the demolition of all existing interior and exterior finishes on the baggage and restroom building, installation of footing and column supports for overhead canopies and the build out of a new 15-foot long custom transaction counter. Additional work included new stucco, concrete, steel and sheet metal finishes, roof, HVAC system and surrounding landscape.
HOUSTON — Marcus & Millichap has brokered the sale of a 3,390-square-foot, freestanding Burger King located in Houston. The property, which was built in 1990, is situated on 1.24 acres at 7801 Highway 6 North. Ed Benton and Monte Lowery of Marcus & Millichap’s Houston office represented the seller, a limited liability company. The buyer, a California-based private investor, was represented by Stephen Sauter of Marcus & Millichap’s Palo Alto, Calif., office. The acquisition price was not disclosed.
HARKER HEIGHTS, AUSTIN AND SAN ANTONIO, TEXAS — Five Guys Burgers & Fries has signed leases for three new restaurants in Texas. The locations consists of a 2,605-square-foot space within Market Heights Shopping Center in Harker Heights; a 2,497-square-foot restaurant located at 3208 Guadalupe in Austin; and a 2,208-square-foot location within Quarry Village Shopping Center in San Antonio. All three restaurants are scheduled to open this summer. Mike Minicucci, Robert O’Farrell, and Todd Wallace of SRS Real Estate Partners represented Five Guys in lease negotiations. Jennifer Hargis of Reata represented the landlord of Quarry Village and Megan Kneipp of Direct Development represented the landlord of Market Heights. Terms of the leases were not disclosed.
WILLIAMSTON, N.C. — The Salvation Army has opened a Salvation Army Family Store in Williamston. The 3,200-square-foot facility is located at Roanoke Landing, which is a shopping center situated on the northeast corner of east Boulevard and Park Street. Pam Harrelson of Centro Properties Group provided in-house representation for the landlord, Centro Properties Group, in the transaction.
HUNTINGTON BEACH, CALIF. — Phil Voorhees, Patrick Toomey and Megan Read of CB Richard Ellis represented the sellers, David and Diana Bonadonna, in the disposition of Shore House Café, a 5,690-square-foot restaurant located at 520 Main St. in Huntington Beach. The property sold to a private investor for $1.8 million. The buyer plans to continue restaurant operations on the site as an owner/user after an extensive renovation.
NORTH PORT, FLA. — Patriot Self-Storage and Passco Companies Development are opening two Class A self-storage facilities in North Port. The three-story, climate-controlled properties are located at 2245 Bobcat Trail Center Rd. and 6029 Talon Bay Dr. The companies acquired the two development parcels for approximately $7 million and began construction on the combined 200,000-square-foot facilities in June 2008.
TILDEN, PA. — Ironwood Property Group has purchased 63 acres of land in Tilden for the construction of Tilden Ridge, a 400,000-square-foot regional shopping center. Slated for a fall 2010 opening, the center will feature a 152,000-square-foot Wal-Mart, a 156,000-square-foot Lowe’s Home Improvement Store, 60,000 square feet of inline retail and five free-standing parcels. The site is situated at the intersection of Route 61 and 78. Glenn Marvin of Metro Commercial Real Estate is handling the leasing for the center.