JACKSONVILLE, FLA. — Charleston, S.C.-based HJB Construction has completed a 9,100-square-foot Family Dollar store. The property is located at 5799 Ft. Caroline Rd. in Jacksonville. The project was developed by Charleston-based Twin Rivers Capital.
ELLISVILLE, MO. — The Chesterfield, Mo., office of Brinkmann Constructors has completed a 40,000-square-foot Straub’s Markets, located at 15830 Fountain Plaza in Ellisville. The $4.4 million project comprises a two-story grocery store that also features a 150-seat café, a cooking school, a reading lounge and a wine cellar with a tasting room. The produce department of the store has a glass roll-up door that can transform it into a seasonal, outdoor farmers’ market. The new Straub’s is the retailer’s fifth location in metro St. Louis and its largest store to-date. It was designed by Tr,i Architects, with Robert Gorski Associates providing interior design services.
TOPEKA, KAN. — A joint venture between USAA Real Estate Co. and Seefried Industrial Properties has acquired a 74-acre land parcel located within Central Crossing Commerce Park in Topeka. The venture plans to develop a build-to-suit distribution center at the site for The Home Depot. The facility will be tri-docked and will total 465,600 square feet. The Home Depot signed a 20-year lease for the property, and will operate it as a regional distribution center. Completion is scheduled for this fall.
BRIGHTON, N.Y. — Marcus & Millichap has completed the $9.13 million sale of Twelve Corners Shopping Center, a 96 percent occupied, 29,414-square-foot center located at the intersection of Monroe Avenue, Elmwood Avenue, and South Winton Road in Brighton. Tenants include Panera Bread, Starbucks, HSBC Bank, Federal Express, Super Cuts and Subway. Mark Taylor and Dean Zang of Marcus & Millichap’s Philadelphia office represented the seller, GDC Randolph Crossing. The buyer, Brighton Corners, was represented by Steven Stoehrer of Marcus & Millichap’s Manhattan office. The center was sold for a 7.16 percent capitalization rate.
PLANO, TEXAS — Stan Johnson Co. has brokered the sale of a 14,820-square-foot, freestanding Walgreens pharmacy in Plano for $5.8 million. The building is situated on 3.2 acres at 2300 E. Park Blvd. Ryan Butler and Brad Moulder of Stan Johnson Co. represented the seller, a retail developer. The buyer, an individual investor, was represented by Susan Clarkson of Litton-Fuller Group.
DELAND, FLA. — An undisclosed private investor has purchased a 7,895-square-foot Tire Kingdom store from an undisclosed retail developer for $2.36 million. The property is located at 1615 Woodland Blvd. in Deland. Ryan Butler and Brad Moulder of Tulsa, Okla.-based Stan Johnson Co. represented the seller.
CINCINNATI — Phillips Edison & Co. has completed a $118 million secured revolving credit facility. Bank of America Securities was the lead arranger, and Bank of America, N.A. was the administrative agent. The credit facility is secured by 22 properties and has a 3-year term with two 1-year extension options. As a result of the financing, Phillips Edison, which focuses on investing in grocery-anchored shopping centers with value-creation opportunities, has no meaningful debt maturities until 2011.
COLUMBIA, MO. — R.G. Brinkmann Construction Co. has completed the first Menards home improvement center in central Missouri. The 233,000-square-foot store is located within Centerstate Crossing, a mixed-use community located at the intersection of Interstate 70 and Missouri Highway 63 in Columbia. Centerstate Crossing is owned by Centerstate Realty, and encompasses more than 348,000 square feet over 200 acres, with tenants such as Bass Pro Shops, Furniture Row, Ruby Tuesday and Hilton Garden Inn. The Menards project totaled more that $6.7 million.
CLEVELAND HEIGHTS, OHIO — Pine Tree Commercial Realty, the co-owner and exclusive leasing representative for the 620,000-square-foot Severance Town Center, has signed Conway Stores to a 24,000-square-foot lease within the shopping center. Severance Town Center, which Pine Tree co-owns with Syndicated Equities Corporation of Ohio, is located at 3640 Mayfield Rd. in Cleveland Heights. Conway Stores, which specializes in men’s, boy’s and women’s discount apparel, opened at the end of last year. Two other leases were signed recently at the center: Gibbs Jazz Café is expected to open a 5,900-square-foot restaurant in May, and Rainbow Apparel Companies recently opened a 5,400-square-foot store.
ENFIELD, CONN. — Australia-based Centro Properties Group has disposed of Stop & Shop Plaza, a 122,718-square-foot community shopping center located at the interchange of Interstate 91 and State Route 190 in Enfield. Constructed in 1988, the Class A property is anchored by a 71,440-square-foot Stop & Shop grocery store. Additional tenants include 99 Restaurant, Advance Auto Parts, UPS and H&R Block. Occupancy was 86 percent at the time of closing. Representing Centro in the transaction was Cushman & Wakefield’s Capital Markets Group. The property was acquired by Katz Properties for an undisclosed amount.