ST. PAUL, MINN. — SUPERVALU has opened Cub Foods Phalen, the first grocery store in Minnesota to seek LEED certification. The new store, which was built to achieve LEED Gold-certification, is located at 1177 Clarence St., within the Phalen neighborhood of St. Paul. Sustainable elements of the 62,900-square-foot building include 44 skylights that illuminate 75 percent of regularly occupied spaces using a solar powered GPS system that tracks and redirects sunlight as needed; LED lights in the parking lot; a maintenance-free floor that eliminates the need for chemicals during the cleaning process; and a landscape irrigation system that uses 50 percent less water than typical systems. Additionally, the store features a pharmacy with a drive-thru window and a full-service TCF Bank. The estimated cost of completion was not disclosed.
NEW YORK CITY — Marcus & Millichap has completed the sale of a 14,000-square-foot Walgreens pharmacy, located in Brooklyn, New York City, for $7.09 million. Ben Sgambati and Michael Lombardi of Marcus & Millichap represented the seller, an undisclosed Northeast-based developer. The duo also represented the Manhattan-based buyer in the transaction.
CHANDLER AND PHOENIX, ARIZ. — SCI Real Estate Investments LLC and 34 tenant-in-common co-owners have sold Casa Paloma Shopping Center in Chandler for an undisclosed price. The company acquired the property in 2005 for approximately $43.68 million. The 130,096-square-foot center is tenanted by AJ’s Fine Foods, Gap Women, Gap Body, Bath & Body Works and Banana Republic. Additionally, the company recently sold Deer Valley Village in Phoenix. The 832-unit luxury apartment community was purchased by SCI and 19 TIC co-owners in 2004 for approximately $71 million. The property recently reached full cycle, selling for $85.2 million.
LOS ANGELES COUNTY, CALIF. — Voit Commercial Brokerage has completed two transactions, totaling $4.1 million, in Los Angeles County. In Downey, Calif., Benedict Partners LLC acquired a 23,200-square-foot property, which is located at 12406-12422 Benedict Ave., for $2.1 million. Rob Socci and Peter Castleton of Voit’s Anaheim, Calif., office represented the sellers, George and Margaret Maginn; Jeff Hubbard of Lee & Associates represented the buyer in the transaction. In a separate transaction, Guthrie Development Company completed the disposition of an 11,516-square-foot property, which is located a 7901 Somerset in Paramount, Calif., for $2 million. The property is located within the 158,000-square-foot Somerset Business Park. Louis Tomaselli, Mitch Zehner, Cameron Driscoll and Luke McDaniel of Voit’s Anaheim office represented the seller; Steve Bryant of Grubb & Ellis represented the buyers, Yungtai and Lisa Hsu.
JERSEY CITY, N.J. — Sperry Van Ness (SVN) has completed the sale of 440 Commons, a 162,533-square-foot shopping center, located on Route 440 in Jersey City, for $24.6 million. Situated on 15 acres, the property is fully occupied by The Home Depot and Raymour & Flanigan. Both tenants are currently paying below-market rents, with 5-year rent escalations built into their leases. The shopping center is located on the west side of Jersey City, in an area that is poised to undergo a massive redevelopment. Joseph French and Thomas Dalzell of SVN’s White Plans, N.Y., office represented the seller, Beachwood, Ohio-based Developers Diversified Realty, as well as the undisclosed buyer. The property traded at a 6.76 percent cap rate.
DEPTFORD, N.J. — The Philadelphia office of Marcus & Millichap has brokered the sale of a 5,000-square-foot retail building, located at 1188 Hurfville Rd. in Deptford, for $2.45 million. The two-tenant property, which was completed in late 2007, is occupied by FedEx/Kinko’s and The Vitamin Shoppe. At the time of occupancy, FedEx/Kinko’s signed a 5-year triple net lease with two 5-year extension options, and The Vitamin Shoppe signed a 10-year triple net lease with two 5-year extension options and scheduled rent escalations every 5 years. Mark Taylor, Dean Zang and Chris Munley of Marcus & Millichap represented the seller, 1188 Hurfville Associates LLC, which is an affiliate of EDEN Property Co. The trio also procured the private, out-of-market buyer. The property traded at a capitalization rate of 7.51 percent.
MALDEN, MASS. — Boston-based Fantini & Gorga has arranged $11.1 million in interim financing for Plaza 188, a 71,500-square-foot retail center located in Malden. Situated on 5.55 acres along Commercial Street, the property is anchored by grocer Super 88; other tenants include Ace Hardware, Brookline Bank, Dunkin Donuts and CitiFinancial. Additionally, the Social Security Administration will soon move its local offices into the center. There is currently 3,400 square feet of space still vacant within the center. Terms of the financing, as well as the borrower and lender, were undisclosed.
HERCULES, CALIF. — Jim Roessler of Roessler Investment Group represented the undisclosed seller in the disposition of Creekside Shopping Center in Hercules. A trade buyer purchased the property for approximately $5.83 million. The property offers 14,000 square feet of retail space.
WESLEY CHAPEL, FLA., AND HENRICO COUNTY, VA. — Forest City Enterprises and The Goodman Company have opened the 646,000-square-foot Shops at Wiregrass, located at the intersection of State Road 56 and Bruce B. Downs Boulevard. A 150,000-square-foot Dillard’s, a 140,000-square-foot Macy’s and a 98,000-square-foot JC Penney anchor the $156 million center. Restaurant tenants include The Brass Tap, GrillSmith, Moe’s Southwest Grill and Yamato Japanese Steak House. The Shops at Wiregrass is the retail component of the 5,022-acre Wiregrass Ranch mixed-use development. A division of Forest City Enterprises and partner Pruitt Associates have also opened The Shops at White Oak Village. Located at 4500 S. Laburnum Ave. in Henrico County, the $113 million project spans more than 900,000 square feet and 136 acres. Anchor tenants include Target, Ukrop’s, Lowe’s Home Improvement Warehouse, Sam’s Club, JC Penney, PetsMart, OfficeMax and Circuit City.
SEVIERVILLE, TENN., AND MACON, GA. — Atlanta-based RCG Ventures has purchased two shopping centers totaling more than 180,000 square feet. The company purchased the 135,491-square-foot Governor’s Crossing from CW Capital for an undisclosed price. The center, located on Collier Drive in Sevierville, is anchored by Books-A-Million and Vanity Fair Outlet. RCG has also acquired the 54,155-square-foot Fall Line Plaza, located on Rocky Creek Road in Macon, from an undisclosed party for an undisclosed amount. Fall Line Plaza is anchored by Piggly Wiggly and Family Dollar. Jim O’Donnell and Parker Blanchard served as in-house representation for RCG.