SEAGOVILLE, TEXAS — A Dallas-based development group has sold the 51,835-square-foot Seagoville Corners shopping center to a Texas-based limited partnership for an undisclosed amount. The 2-year-old center, which is located on North Highway 175 in Seagoville, is populated by Bealls, Dollar Tree, CATO, Sally Beauty and Hibbett Sports. Brad and Gavin Kam of Dallas-based TKG represented the seller, and the buyer was represented by Quine & Associates of Richardson, Texas.
SAN DIEGO — ATTIQ Investments LLC has acquired Sweetwater Village, a 43,400-square-foot retail center located at 3505-3515 Sweetwater Springs Blvd. in San Diego’s Spring Valley area. Gladstone LLC and West Palm Blackpoint Associates LP, dba Westcore Properties, sold the asset for $6.2 million. The new owner will occupy a 28,000-square-foot space, which was formerly occupied by Frog’s Club One. The center is currently leased to a variety of tenants, including Help-U-Sell, Baskin Robbins, Nail Express and Shear Talent Salon. Brad Ihde of USA Realty and Loans represented the buyer; Pete Bethea, John Jennings and David Bradley of Cushman & Wakefield represented the seller in the transaction.
CALIFORNIA — Newmark has arranged financing totaling $14 million for four properties located in California. The first two loans totaling $10 million were secured for two single-tenant big box retail buildings in Southern California. The third loan totaling $1.32 million was arranged for a 20,000-square-foot office/warehouse facility located in San Francisco. The final loan totaling $2.75 million was secured for a 56,850-square-foot industrial building located in Stockton, Calif. Eric Von Berg of Newmark arranged the financing.
ANAHEIM, CALIF. — Ron Duong of Marcus & Millichap has brokered the sale and acquisition of Lincoln Brookhurst Shopping Strip in Anaheim. Located at 2175 W. Lincoln Ave., the 10,300-square-foot property sold for $1.32 million. Built in 1956, the asset was 100 percent occupied with four tenants at close of escrow. The seller and buyer were not disclosed.
POINCIANA, FLA. — With an eye toward building a 15,400-square-foot retail building, Boca Raton, Fla.-based Realcap Associates has purchased 3.71 acres of land from Avatar Properties for an undisclosed amount. The property, located at the intersection of Pleasant Hill Road and Southport Road in Poinciana, will serve as the second phase of Poinciana’s Southport Plaza retail development. The first phase was completed in 2006 and includes the tenants Domino’s Pizza, CORA Health and Rehabilitative Services, Extreme Art of Tang Soo Do karate studio and My Angel’s Dream Day Care. Realcap will break ground on the second phase in the next 90 to 120 days, with a delivery planned for the late summer or fall.
SHAKOPEE, MINN. — AEI Capital Corp. has purchased a 30,243-square-foot Best Buy property located at 8100 Old Carriage Court in the Minneapolis suburb of Shakopee. The approximately $7.7 million acquisition was purchased as part of AEI’s long-term investment strategy — using all-cash, without debt — to develop and acquire commercial real estate net leased to major credit tenants in prime locations. The store is situated in a recently completed retail property, adjacent to a Wal-Mart Supercenter, a Sam’s Club, a Home Depot and a Michael’s.
BETHLEHEM, PA. — Allentown, Pa.-based Summit Management & Realty Co. has completed the sale of the former Kospiah’s Nursery located at 2897 Easton Ave. in Bethlehem. The undisclosed buyer plans to raze the building and construct a 20,000-square-foot neighborhood shopping center on the property. It will contain 12 stores, and the grand opening has been scheduled for October. Jennifer Gold of Summit negotiated the transaction between the buyer and the sellers, Marion and Barry Kospiah. The acquisition price was not disclosed.
HOUSTON — Marcus & Millichap has brokered the sale of the former Bissonnet Corner Restaurant, a vacant 3,021-square-foot restaurant located 12180 Bissonnet St. in Houston. The property was originally built in 1985 and was renovated in 2000. Justin Miller of Marcus & Millichap’s Houston office represented the seller, a Texas-based private investor. The property was purchased by another Texas-based private investor/user. The acquisition price was not released, but the property listed for $500,000.
MT. JULIET, TENN. — Wal-Mart Supercenter and Lowe’s Home Improvement Warehouse are the two newest tenants in Atlanta-based The Gipson Co.’s 140-acre The Paddocks at Mt. Juliet. Wal-Mart will open a 176,348-square-foot store in the fall, and a 103,000-square-foot Lowe’s will open during the company’s third quarter. The Paddocks is located at the intersection of North Mt. Juliet Road and Pleasant Grove Road in Mt. Juliet. Atlanta-based The Shopping Center Group represented the owner in the leases. New York-based Real Estate Capital Partners and Hannover Leasing of Germany are partners in the development.
CARLE PLACE, N.Y. — The White Plains, N.Y., office of Sperry Van Ness (SVN) has negotiated the sale of Voice Road Plaza, a 131,850-square-foot community shopping center located on Glen Cove Road in Carle Place, for $36.22 million. Situated on 8.3 acres, the center was constructed in 1951 and renovated in 1996. It was 98.8 percent occupied at the time of closing; anchor tenants include Staples, Big Lots, Party City, Dress Barn and Bass. Joseph French and Neil Golub of SVN represented the seller, a New York-based hedge fund. The buyer was a New York-based private investor.
