BEAUMONT, TEXAS — Marcus & Millichap has brokered the sale of Beaumont Fountain Plaza, a 23,524-square-foot retail strip center located in Beaumont. Situated at 3050 Dowlen Rd., the property is anchored by Pei Wei Chinese Restaurant. Occupancy was 100 percent at the time of closing. Alvin Mansour and Philip Sambazis of Marcus & Millichap’s San Diego office listed the property on behalf of the seller, a Texas-based limited liability company. Al Silva and Jason Heard of Marcus & Millichap’s Fort Worth, Texas, office represented the buyer, an out-of-state limited liability company participating in a 1031 exchange.
Retail
KAPOLEI, HAWAII — CNL Lifestyle Properties has acquired Hawaiian Waters Adventure Park, located in Kapolei on Oahu, as part of a sale-leaseback transaction. CNL will lease the property to its previous owner, Melbourne, Australia-based Village Roadshow Limited, under a long-term agreement. First opened in 1999, the water park covers 29 acres and can accommodate 6,000 guests. It is Hawaii’s only water park and was acquired by Village Roadshow in 2008. This summer, the Village Roadshow plans to rename the theme park Wet ‘n’ Wild Hawaii. It will also open a second location for the brand in Phoenix.
KEY WEST AND TAVERNIER, FLA. — Orlando-based Cuhaci & Peterson Architects has started design work on two Winn Dixie renovations in Florida. A 54,000-square-foot store, located at 2778 N. Roosevelt Blvd. in Key West, and a 45,598-square-foot store, located at 92100 Oversees Hwy. in Tavernier, will receive upgrades.
NEW JERSEY — The Goldstein Group has completed nine leases in New Jersey on behalf of convenience store chain 7-Eleven. The leased locations range in size from 2,400 to 3,200 square feet. The addresses of the new stores are 11-13 Tenafly Rd. in Englewood, Route 17 and Essex Street in Lodi, 150 Main St. in Lodi, 114 Bloomfield Ave. in Montclair, 287 Bloomfield Ave. in Verona, 533 Sayre Ave. in Perth Amboy, 6004 Bergenline Ave. in West New York, 17 Franklin Turnpike in Mahwah, and 158 Woodbury Rd. in Hicksville. The leases are part of an aggressive expansion campaign 7-Eleven has launched in New Jersey.
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.
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.