ALISO VIEJO, CALIF. — Laguna Beach, Calif.-based Zamindari Real Estate Investment Two LLC has acquired a 13,386-square-foot Walgreens property, which is located on 1.76 acres within Aliso Viejo Town Center in Aliso Viejo. Walgreens has a 20-year initial lease on the newly constructed property. Anil Sharma of Lotus Investments represented the buyer; Dennis Vaccaro of Faris Lee Investments represented the seller, Dana Point, Calif.-based Aliso Commons Corner LLC, in the transaction.
TUXEDO PARK, N.Y. — Miami-based Omega Commercial Finance Corp. will acquire the 30,654-square-foot Sterling Mine retail and office development for an undisclosed price through a share exchange agreement. Construction on the property, which is located in Tuxedo Park, is nearly 75 percent complete. Pre-leasing has hit the 84 percent mark, according to executed letters of intent shared with Omega.
JAMISON, PA. — Jamison-based DG Warwick has purchased a 14,850-square-foot Walgreens and a cell phone tower from Warwick Building Partnership for $5.85 million. The 2-year-old property spans 2.06 acres of land at 2319 Old York Rd. in Jamison. Walgreens holds a 25-year absolute net lease that carries 50 1-year options on the building. Mark Taylor, Dean Zang and Mark Thompson of Marcus & Millichap’s Philadelphia office brokered the transaction with help from Peter Soloff of Philadelphia-based Blank Rome.
OXNARD, CALIF. — AutoNation has purchased a 25,496-square-foot retail building, which is located at 1511 Auto Center Dr. in Oxnard. The buyer plans to utilize the location for a Mercedes and SMART Car dealership, which is slated to open this summer. Jacqui Blake and Chris Maquire of SRS Real Estate Partners represented AutoNation in the transaction. The seller and acquisition price were not disclosed.
MT. JULIET, TENN. — Memphis, Tenn.-based Boyle Investment Co.’s Phil Fawcett has secured a construction loan for the first phase of the company’s 200,000-square-foot Providence Commons shopping center. U.S. Bank, represented internally by Scott Miler, financed the loan. The property, located on Mt. Juliet Rd. in Mt. Juliet, will feature a 54,000-square-foot Publix, three to four additional anchor and junior-anchor stores and 35,000 square feet of small-shop space. Franklin, Tenn.-based Civil Constructors and Nashville, Tenn.-based JE Crain are working toward a fall completion date.
BROADVIEW, ILL. —Mid-America Asset Management, the third-party retail asset management arm of Oakbrook Terrace, Ill.-based Mid-America Real Estate Group, has signed LA Fitness to a 50,040-square-foot lease within Broadview Village Square in Broadview. The fitness chain is expected to open early next year within the space, which is a portion of a recently vacated Target location. Target has relocated and expanded within the 720,970-square-foot shopping center, which is located at the corner of Cermak Road and 17th Avenue. Richard Spinell and Liz Krebs of Mid-America Asset Management negotiated on behalf of the landlord, while Jeff Kuchman and Willie Hoag of Mid-America Real Estate Corp. represented LA Fitness.
QUINCY, ILL. — A new Bed, Bath & Beyond store has opened at 5110 Broadway in Quincy. The 23,000-square-foot store, the retailer’s 39th in Illinois, opened in late February.
WETHERSFIELD, CONN. — Wethersfield-based New England Retail Properties (NERP) has brokered the sale of Goff Brook Shoppes, a 71,493-square-foot retail center located in Wethersfield, for $6.8 million. Constructed in 1988, the center is anchored by Office Depot. Additional tenants include Hometown Buffet, SuperCuts, HFC, Catherine’s Plus, Ace Beauty Supply and others. NERP’s Matt Halprin represented the buyer, Wallingford, Conn.-based Goff Brook Real Estate LLC. The seller, Centro Properties, was represented by Joe French of the White Plans, N.Y., office of Sperry Van Ness.
SAN DIEGO — Mapali Inc. has purchased Loma Vista Center, which is located at 4676-4696 Market St. in San Diego, for $4.8 million. The 25,635-square-foot retail property is located on the corner of Market Street and 47th Street. Manuel Lopez of Casa Bonita Realty represented the buyer; Joe Yetter, the Clark/Yetter/Jinings team, Chad Iafrate and the Schiff/Lyons/Iafrate team, all at Grubb & Ellis|BRE Commercial, represented the seller, Harol Market Properties Inc., in the transaction.
LAFAYETTE, LA. — New Orleans-based Stirling Properties will welcome a handful of retailers to its 600,000-square-foot Lafayette Shopping Center in Lafayette. Rack Room Shoes, Ross Dress for Less and Dress Barn have already opened, and Portrait Innovations, Subway and Luxurious Nails will open soon. Capital One, Anytime Fitness and Office Depot are all expected to open late this year or in early 2010. Lafayette Shopping Center, which is anchored by a 126,842-square-foot Target and a 103,525-square-foot JC Penney, includes the tenants Petco, Layne Bryant, Rue 21, Hibbett Sports, GameStop, GNC and Chick-fil-A.