HENDERSONVILLE, TENN. — Bill Settle, Stanton Falk, Joel Dumes and Anne Williams of Marcus & Millichap have represented a private party in the sale of the 26,026-square-foot Indian Lake Market Shops to an undisclosed buyer for $6.5 million. The property, which was built last year at the intersection of North Anderson Lane and Indian Lake Boulevard in Hendersonville, is fully occupied. The buyer of the Wal-Mart Supercenter-anchored property was represented by Nashville, Tenn.-based Charles Warner.
INDIANAPOLIS — Thompson Thrift has brokered the sale of a 13,198-square-foot former International House of Pancakes located at 1529 N. Meridian St. in Indianapolis. GB Indiana 2 LLC has acquired the building from IL & IN Restaurant Realty LLC for an undisclosed amount. The buyer plans to construct a 12,900-square-foot CVS/pharmacy on this site and adjoining properties. Tony Orlando of Thompson Thrift represented the seller in the transaction.
FORT WORTH, TEXAS — Jones Lang LaSalle (JLL) has brokered the purchase of a former Carnival Food Store, located at 1719 8th Ave. in Fort Worth. Situated on more than 2 acres, the two-building, 28,000-square-foot property was acquired by Cook Children’s Health Care System, which plans to substantially renovate the property. Ryan Matthews and David Walters of JLL represented Cook in the transaction. The undisclosed seller was represented by Quine & Associates. The purchase price was also not released.
CENTENNIAL, COLO. — Sweden-based IKEA has submitted plans to develop a 400,000-square-foot IKEA store in Centennial. The proposed project would be built on 13.5 acres along the western side of Interstate 25 within the Park Meadows area. IKEA Centennial would feature approximately 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children’s play area and a 350-seat restaurant serving Swedish specialties. The development timeline will be determined at a later date.
DAYTON, OHIO — Centro Properties Group has unveiled its $15 million redevelopment of South Towne Centre, a retail center located at the intersection of Miamisburg-Centerville Road and Route 675 in Dayton. Christmas Tree Shops has announced plans to open its first Midwest store within the center. The 32,000-square-foot store, which will open later this year, will occupy the remaining portion of the 98,000-square-foot former Kmart building. The $15 million redevelopment project included site improvements and upgrades. Burlington Coat Factory, Jo-Ann Fabrics & Crafts, PetSmart and Value City Furniture are among the new retailers at South Towne Centre. A 4,200-square-foot Fifth Third Bank is currently under construction and is scheduled to open this year. Various existing tenants at the center have undergone façade renovations.
VALPARAISO, IND. — Colliers Turley Martin Tucker has brokered the sale of a 24,049-square-foot Staples Office Superstore located at 2106 Morthland in Valparaiso. Brauvin Net Lease LLC has acquired the store from JRAN Co. of Valparaiso Ltd. for $3.52 million. Robert Taylor of the Colliers Investment Services Group and Giorgio Karras in the Cincinnati office of Colliers represented the seller in the transaction.
EGG HARBOR, N.J. — Port Washington, N.Y.-based Cedar Shopping Centers has taken out a $21 million bridge loan for Shore Mall, a 626,133-square-foot retail property located in Egg Harbor. Situated on 73.27 acres, Shore Mall consists of an enclosed regional shopping center anchored by Boscov’s Department Store and Burlington Coat Factory. The property also includes an adjacent 50-acre land parcel located at the intersection of The Garden State Parkway and Blackhorse Pike. The financing is for a 36-month term and carries an adjustable interest rate. The transaction was originated by John Taylor and Jim Cardranell with the New Jersey office of Holliday Fenoglio Fowler. The lender was Oritani Savings Bank, which was represented by David Garcia.
SOUTH GATE, CALIF. — Buchanan Street Partners has been selected to structure all the capital for El Portal Entertainment Center, a $218 million retail project in South Gate. Developed by Red Mountain Retail Group and Allied Retail Partners, the 498,880-square-foot, entertainment and multimedia-themed development will be anchored by Target, Ross Dress For Less and Regency Theatres. The project is located at the intersection of Atlantic Avenue and Firestone Boulevard.
WINCHESTER, VA. — Vienna, Va.-based NVRetail and Reston, Va.-based Tetra Partners recently opened the 400,000-square-foot Rutherford Crossing, a retail center located on U.S. Route 11 in Winchester. The property, which is anchored by Target and Lowe’s Home Improvement Warehouse, will welcome 12 new tenants during the third quarter of this year. Retailers moving into the square include Chick-fil-A, McDonald’s, Hair Cuttery, ProTel, Daily Grind, Beach Bum Tanning and Tropical Smoothie.
FREEPORT, MAINE — The L.L. Bean Hunting & Fishing Store, a specialty store located on the retailer’s Freeport campus adjacent to the L.L. Bean Flagship Store, has been awarded LEED-Silver certification from the U.S. Green Building Council. Sustainable features include recycled construction materials, stormwater management systems, energy-efficient windows and low-flow fixtures. In 2006, L.L. Bean committed to build all of its new projects to LEED standards; The Hunting & Fishing Store marks the retailer’s sixth LEED-registered project and the first to be awarded certification. The project is also the first LEED-certified retail project in the state of Maine.