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.
PHILADELPHIA — Media, Pa.-based Sperry Van Ness/Location333 Realty (SVN) has brokered the sale of Erie Plaza, a 34,422-square-foot retail center located at 1240 E. Erie Ave. in Philadelphia, for $3.46 million. The property is currently 100 percent occupied by a tenant roster that includes Pa Liquor Store, City Thrift Store, a Chinese restaurant and a Mensic group. Mark Berk of SVN represented the seller, Erie Plaza Partners. The property was acquired by a New Jersey-based private investor.
OSTERVILLE, MASS. — Boston-based EagleBridge Capital has arranged $2.2 million in acquisition financing for 846 Main Street, a 19,950-square-foot retail center located in Osterville. The property comprises 18,450 square feet of first-floor retail space, as well as 1,500 square feet of second-floor office space. It is anchored by Osterville House & Garden; additional tenants include Books by the Sea, Oyster Island Emporium, Cape Cod Originals, Christine’s Osterville Needlepoint, Gone Chocolate and Upstairs Imports. Ted Sidel and Brian Sheehan of EagleBridge Capital originated the financing for the undisclosed borrower through a regional thrift institution. Terms of the financing include a 90 percent loan-to-value ratio; the interest rate was not disclosed.
LANCASTER, OHIO — The Cooper Commercial Investment Group of Cleveland-based NAI Daus has brokered the sale of the Shops at Ety Village retail center located in Lancaster. Tenants at the 29,400-square-foot development include Panera Bread, Pet Supplies Plus, Game Stop and Great Clips. Dan Cooper and Bob Havasi of NAI Daus represented the local sellers in the transaction. A Chicago-based independent investor purchased the property for $7.3 million.