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.
HOUSTON — Buffalo Wild Wings Bar & Grill has leased space at Greenway Commons in Houston for a new restaurant. It will occupy 5,800 square feet at the center, which is located at the corner of Weslayan Street and Richmond Avenue, near Greenway Plaza. Alex Makris and Jazz Hamilton of CB Richard Ellis represented the landlord, Dallas-based Trammell Crow Co. The tenant was represented by Matt Keener, Russell Janicek and Mark Raines, also of CB Richard Ellis. The restaurant’s opening date was not released.
RENO, NEV. — 7-Eleven has broken ground for the development of a convenient store and fuel station at Damonte Ranch Town Center in South Reno. Current tenants of the 539,000-square-foot community shopping center include RC Willey, The Home Depot, Colonial Bank, Office Depot, Bully’s, Lamppost Pizza, Carvel Ice, McDonald’s, Starbucks Coffee and Mattress World. The center, which is owned by Lewis Retail Centers, is located at the corner of Damonte Ranch and Steamboat parkways.
PASADENA, TEXAS — El Rincon Guanaco Restaurant has opened a 3,136-square-foot location within Parkview West, a retail property located at the corner of Blueberry Lane and Spencer Highway in Pasadena. Kay Walker of Centro Properties Group provided in-house representation on behalf of the landlord in lease negotiations. Terms of the lease were not disclosed.
ARNOLD, MO — Marcus & Millichap has arranged the sale of a 2,400-square-foot, single-tenant, net-leased 7-Eleven for approximately $800,000. Christopher Pollnow and Kevin Limbert of Marcus & Millichap represented the undisclosed, locally based seller in the disposition of the convenience store, which is located at 3695 West Outer Rd. The buyer, a private investor, was represented by David Ching of Marcus & Millichap’s Oakland, Calif., office.
BOSTON — Boston-based retailer Filene’s Basement has filed for Chapter 11 bankruptcy protection. Concurrently, the company has entered into an agreement to sell 17 of its 25 locations to an affiliate of New York-based Crown Acquisitions, including its flagship stores in Boston and New York City’s Union Square. Crown plans to continue normal operations at the locations. The sale is subject to an auction by the U.S. Bankruptcy Court, under which additional offers for the 17 stores, the remaining Filene’s Basement stores and the retailer’s other assets must be solicited.
EDGEWATER, N.J. — CVS/pharmacy has signed a lease for 11,000 square feet of space at Edgewater Square, a new mixed-use development currently under construction in Edgewater. CVS is the first retail tenant to sign at the project, which will ultimately include 100,000 square feet of retail and restaurant space. The pharmacy will be constructed on a pad site visible from River Road; groundbreaking is expected to occur this month. Edgewater Square is being developed by Levin Management Corp. In addition to the retail component, the project will feature 480 loft and townhome residences, a hotel, the new Edgewater Borough Hall and a 1,900-foot long river walk along the Hudson River.