BLAIR, NEB. — Omaha, Neb.-based DKC Development Ventures has been selected as project manager for a 12,000-square-foot multi-tenant retail building, which will be located along Highway 30 in Blair. The Hayden Place development will be situated adjacent to a proposed Wal-Mart Supercenter. Tenants at the project will include a 1,200-square-foot Scooter’s Coffeehouse, Anytime Fitness and Great Clips. An additional seven outlots ranging in size from .48 acres to 1.72 acres are available at the site. Grading of the retail-building pad is complete, and additional site work is set to begin immediately. Omaha-based Reed Design Architects is acting as architect; Omaha-based Dicon Construction has been selected as general contractor for the project.
ROCKAWAY, N.J. — The New Jersey office of Marcus & Millichap has brokered the sale of Rockaway Plaza, a 104,549-square-foot retail property located at 295 Route 46 in Rockaway, for $16.12 million. Situated on 6.78 acres, the property is anchored by Drug Fair; additional tenants include Ace Hardware, Kiddie Academy and Party Fair. The property has recently undergone a renovation that included a new façade and storefronts, as well as a resurfaced parking lot. Seth Pollack and Michael Kestin of Marcus & Millichap represented the seller, a regional developer. Kevin McCrann, also of Marcus & Millichap, represented the buyer, a regional investment group. The property traded at a price of $154 per square foot.
PELHAM MANOR, N.Y. — White Plains, N.Y.-based Acadia Realty Trust, in partnership with PA Associates, has entered into an agreement with BJ’s Wholesale Club to anchor Pelham Manor Shopping Center, a 230,000-square-foot community shopping center located in Pelham Manor. BJ’s will occupy the space formerly leased by Home Depot, and is expected to open in the first half of 2009. Terms of the lease were not disclosed.
BOSTON — Burlington, Mass.-based Linear Retail Properties has acquired two Boston retail condominiums in two separate transactions for a total of $4.04 million. The first property is a 7,339-square-foot unit located at 58 Summer St. in the city’s financial district. The vacant unit was previously occupied by McDonald’s, which sold the property to Linear for $2.37 million. John Butterworth of Boston-based CB Richard Ellis – New England Partners and Christopher Lawrence of Boston-based Colliers Meredith & Grew brokered the transaction. The second property is a 4,360-square-foot unit located within the Wilkes Passage condominium project at 1313 Washington St. Linear acquired the property from Red River Trading Co. for $1.67 million. Red River will be relocating to 577 Main St. in Hudson, Mass. Ken Girvin of Boston-based Chandler Co. brokered the transaction. The Dartmouth Company has been retained to lease the property.
FORT WORTH AND CORINTH, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged approximately $10 million for two retail projects being developed by Dallas-based Margaux Development Co. MCA secured a $6.91 million interim loan for the predevelopment of Parkwood Shopping Center, a 31-acre retail project located in Fort Worth. Proceeds will be used to retire the existing land acquisition loan, prepare the site for vertical development, and proceed with site work and preparation. Current plans call for Margaux to develop a 212,500-square-foot regional shopping center; tenants already signed on include Academy Sports, NTB Tire & Battery and Aldi’s. The second loan totals $2.89 million and is secured by a 20.62-acre land parcel located in Corinth. Margaux plans to develop a retail project on the site known as Corinth Marketplace Shopping Center. Proceeds will be used to retire the existing land acquisition loan. Todd McNeill of MCA arranged both of the loans. The lenders and terms of the loans were not disclosed.
ALLEN, TEXAS — The Woodlands Grill has held the grand opening for its fourth location at 932 Garden Park Dr. in Allen. The new restaurant is situated within Watters Creek at Montgomery Farm, a 1.15 million-square-foot, mixed-use development. The restaurant seats 220, and also contains an outdoor dining patio and a semi-private dining area for special events. The design of the restaurant is inspired by Frank Lloyd Wright’s famous Fallingwater House.
JACKSONVILLE, FLA. — An affiliate of Boca Raton, Fla.-based Woolbright Development has sold the 93,272-square-foot Cobblestone Crossings Shopping Center to an affiliate of Aventura, Fla.-based Halberstein Investments for $13.85 million. The property is anchored by a 39,795-square-foot Publix and is 100 percent leased to Edward Jones & Co., GNC, Hair Cuttery, Pizza Hut, Starbucks and Subway. Cobblestone, located at the intersection of Monument and McCormick roads in Jacksonville, was built in 1987. Mark Gilbert, Adam Feinstein and Eric Williams of Cushman & Wakefield’s Miami office and Karl Johnston of the company’s Jacksonville office represented the seller.
ARDEN, N.C. — Jeff Matulis of Stan Johnson Co. has represented an undisclosed retail developer in the sale of a Walgreens building in Arden to a private buyer for $6.24 million. The buyer represented itself in the purchase of the 14,820-square-foot property.
OMAHA, NEB. — Omaha-based Grubb & Ellis|Pacific Realty has brokered the sale of a 31,766-square-foot retail center located at 11414 Davenport St. in Omaha. Sundance Properties LLC has acquired the property from Shaver Realty Co. Terry Root of Grubb & Ellis|Pacific Realty represented the seller in the transaction. The acquisition price was not disclosed.
COPPELL, TEXAS — Dallas-based United Commercial Realty/Chain Links (UCR) has arranged a lease in Coppell. Arizona-based Sprouts Farmers Market will occupy 28,673 square feet of anchor space formerly tenanted by grocer Albertson’s at a shopping center located at the corner of Sand Lake and Denton Tap roads in Coppell. Jean Smith and Karla Smith of UCR represented the tenant in lease negotiations. Christopher Gibbons and John Zikos of Dallas-based Venture Commercial Real Estate represented the undisclosed landlord. Terms of the lease were not released.