BARTLETT, ILL. — Edgemark Commercial Real Estate has arranged the acquisition of a 43,560-square-foot pad for a proposed Sonic Drive-In located at the southwest corner of Route 59 and Stearns Avenue in Bartlett. Sonic Drive-In has acquired the site in order to expand its business in the Midwest. Tyson Fraser and Al Rodenbostel of Edgemark Commercial Real Estate Services represented the buyer; Mike Wesley and Joanne Sutryk, also of Edgemark, represented the seller in the transaction. The acquisition price was not disclosed.
MIAMI — Orlando, Fla.-based Keene Construction Co. has completed buildings A and B, which total 203,263 square feet, in Woolbright Development’s London Square retail center. The property is located at 13580 S.W. 120th St. T.J. Maxx, Ross Dress For Less, HomeGoods and Famous Footwear anchor the 108,747-square-foot Building A. Building B houses 94,516 square feet of office space.
HOUSTON — The Houston office of Holliday Fenoglio Fowler (HFF) has brokered the sale of a seven-property retail portfolio. The portfolio comprises seven strip centers located in the Houston area that total 213,685 square feet. HFF’s Rusty Tamlyn and Mike Parker marketed the portfolio on behalf of the undisclosed seller. The buyer was Houston-based Joint Properties, Ltd., a partnership of locally based Satya, Inc. Management will be provided by Satya, with Josh Jacobs of locally based Page Partners handling leasing. As part of the transaction, the buyer also agreed to acquired an eighth property, which is expected to close in the first quarter of 2009.
NORCROSS, GA. — Beverly Hills, Calif.-based Starpoint Commercial Properties has finished the redevelopment of the 88,967-square-foot Village at Peachtree Corners. The retail center, located at the intersection of Peachtree Parkway and Peachtree Corners Circle in Norcross, was formerly known as Interlochen Village. Wakefield Beasley & Associates designed the renovation, which includes a new roof and new lighting. Tenants include Flying Biscuit, OfficeMax and The Baby’s Room.
NEWNAN, GA. — Sean Leahy of Phoenix-based Tradition Realty Advisors represented an undisclosed party in the purchase of a 14,820-square-foot Walgreens from an undisclosed seller for $5 million. The 2-year-old property, located at 1 Farmer Industrial Blvd. in Newnan, is NNN-leased to Walgreens for 25 years. Marcus & Millichap represented the seller.
KENT, OHIO — Marcus & Millichap has brokered the sale of University Plaza, a 128,028-square-foot retail center located at Cherry and South Water streets in Kent. An undisclosed investor has acquired the property from an undisclosed developer. The asset, which is anchored by a Save-A-Lot grocery store, commanded a sales price of $1.95 million. Additional tenants at the 65 percent occupied center include Dollar General, Fashion Bug and the 29,650-square-foot Plaza Theatres. Erin Wiles-Patton and Scott Wiles in the Columbus, Ohio, office of Marcus & Millichap represented both parties in the transaction.
STOUGHTON, MASS. — Norwell, Mass.-based Acella Construction Corp. has been selected by Venice, Calif.-based Gold’s Gym to build a new location for the fitness chain at 525 Washington St. in Stoughton. The building will total 45,000 square feet; one section will contain an Olympic-size swimming pool and a splash pool. The two-story center section of the building will include an indoor track, exercise rooms, a juice bar, tanning facilities, physical therapy services and a children’s activity area. The third section of the project will contain basketball and racquetball courts. Construction is expected to be complete by late 2009. Architecture services are being provided by Pando Associates Architects.
SANGER, TEXAS — NorthMarq Capital has arranged approximately $2.2. million in first-mortgage financing for the construction of Sanger Market Place, a 14,000-square-foot retail center located in Sanger. Terms of the loan include a 3-year term with interest-only payments. Stephen Whitehead of NorthMarq’s Dallas office secured the financing for the undisclosed borrower on behalf of Sovereign Bank.
SAN DIEGO — Saieb Abdulmeseh has acquired a 50,000-square-foot land parcel, which is located at 4724-4760 Federal Blvd. in San Diego. The property, which is improved with a 6,000-square-foot commercial building, sold for $1.12 million. The buyer plans to use the property for San Diego Pet Food. George Rodriguez of NAI San Diego represented the buyer; Rex Huffman of Voit Commercial represented the seller, Sedlack Development Company, in the transaction.
JACKSONVILLE, FLA. — Girvin Plaza LLC has sold the 32,000-square-foot Girvin Plaza to Girvin Center Ltd. for $4.31 million. The property, located at 12777 Atlantic Blvd. in Jacksonville, is shadow-anchored by a 45,000-square-foot Winn Dixie. The 10-year-old property is 100 percent occupied. Goldstein Commercial Properties brokered the transaction.