HUNTLEY, ILL. — The grand opening has been held for an approximately 176,400-square-foot Walmart Supercenter, located in Huntley. The store is located within Huntley Grove, a 350,000-square-foot shopping center situated at the intersection of Route 47 and Kreutzer Road. Other retailers at Huntley Grove include Jimano’s Pizzeria, The UPS Store, Chiro One and Fone Zone. The Walmart, as well as the rest of Huntley Grove, was developed by Tucker Development Corp.
Retail
LOWELL, IND. — Marcus & Millichap has brokered the sale of a 7,250-square-foot Advance Auto Parts, located at 1729 E. Commercial Ave. in Lowell. Advance currently has approximately 8.5 years remaining on the corporately guaranteed net lease it signed when the store opened in November 2007. Michael Wernke of Marcus & Millichap’s Chicago Downtown office represented the seller, a private developer, as well as the buyer, a private investor.
FORNEY, TEXAS — Stan Johnson Co. (SJC) has brokered the sale of a 12,900-square-foot CVS/pharmacy, located at 775 E. U.S. Highway 80 in Forney. The pharmacy is currently subject to a 25-year, absolute net lease. It is situated on a 14-acre property that will soon be home to Forney Regional Medical Center. SJC’s David Clary represented the seller, a Chicago-based institutional client. The buyer was a private investor completing a 1031 exchange. The acquisition price was not disclosed, but the property listed for $5.43 million.
LOMA LINDA, CALIF. — Los Angeles-based Downtown Gallery has acquired a single-tenant Fresh & Easy Neighborhood Market in Loma Linda. The 15,000-square-foot property, which is located at 25694 Redlands Blvd., sold for $2.86 million, representing a 6.6 percent cap rate. Built in 2009, the property is situated on a 2.1-acre land parcel. Fresh & Easy is a subsidiary of United Kingdom-based Tesco. The seller was Los Angeles-based MV Investors Inc. Edward Hanley of Hanley Investment Group Real Estate Advisors represented both parties in the transaction.
JACKSONVILLE, FLA. — Grand Rapids, Mich.-based Meritage Hospitality Group has acquired 20 Wendy’s restaurants in Jacksonville from undisclosed sellers. The fast food properties represent 35 percent of the city’s Wendy’s restaurants. Meritage will undertake exterior and interior renovations to the properties and will also install operating and accounting systems.
MEDINA, OHIO — Cedar Shopping Center has disposed of a two-building retail property for $1.3 million. The property comprises two buildings situated on approximately 3 acres in Medina. The buildings are triple-net leased to McDonald’s and Waffle House. The buyer was not disclosed. Cedar Shopping Centers originally acquired the property in 2005 as part of a 25-property portfolio of primarily drugstore-anchored retail stores located in Ohio.
CANTON, MASSACHUSETTS — Especially for Pets has signed on for 5,025 square feet of space at The Village Shoppes in Canton. The store is set to open this June. Owned by The Wilder Companies, The Village Shoppes is a 282,800-square-foot, open-air lifestyle center located at the intersection of Route 27 and Washington Street. The center includes 40 merchants such as Shaw’s, Jos. A. Bank, Ann Taylor Loft, Talbots, Bertucci’s, and Starbucks.
MIAMI — The local architecture firm Leo A Daly has been selected to design 60,000 square feet of retail space surrounding the new Florida Marlins baseball stadium in Miami. Nineteen companies were competing for the project, which is part of the 495,000 square feet of retail and commercial space planned to spread across four five-story structures. The project also includes designing the 5,800-space Stadium Site Parking Complex.
EAST AURORA, N.Y. — The Buffalo, N.Y., office of Pyramid Brokerage Co. has arranged the sale of a 2.2-acre land parcel, located at the intersection of Main and Olean streets in East Aurora, for the construction of a CVS/pharmacy store. The project will consist of the relocation of an existing pharmacy. CVS Albany LLC purchased the property for $1.9 million. Zaremba Group is the construction project’s developer. Arthur Judelsohn and David Seider of Pyramid Brokerage negotiated the transaction. The seller was undisclosed.
GRAND PRAIRIE, TEXAS — Fort Worth, Texas-based Speed Fab-Crete has completed construction of a 17,000-square-foot retail outlet for SIX & Mango Co., a construction equipment sales and rental company. The new building is located at 4011 W. Interstate 30 in Grand Prairie; it replaces the retailer’s west Dallas location. The facility includes showroom space, a product display area, a parts department, sales and administrative offices, service work bays and a mezzanine for storage. The project was designed by Fort Worth-based Callahan & Freeman Architects.