WATERBURY, CONN. — R. Calabrese Agency has completed the sale of Fair Oaks Center, a 47,000-square-foot inline retail center located at 708 Wolcott St. in Waterbury, for $4.57 million. The property is anchored by Aaron’s Rents Furniture Store; additional tenants include Hertz Rent-A-Car, American Automobile of Connecticut, FYE and Play It Again Sports. Bob Bowden of R Calabrese Agency negotiated the transaction between the seller, Waterbury-based Deeken Associates, and the buyer, Long Island, N.Y.-based Malachite Group Ltd.
OGDEN, UTAH — Ogden Utah Holding Co. LLC has purchased Three Tenant Shopping Center, a 60,220-square-foot retail center in Ogden. Robertson Family Trust sold the property for $2.8 million. Barry Higgins and Danny Bahng of Marcus & Millichap represented the seller; the buyer was self-represented in the transaction.
BENBROOK, TEXAS — The Dallas office of Marcus & Millichap has arranged the sale of a 7,250-square-foot retail strip center located at the intersection of Interstate 20, Loop 820 and Benbrook Boulevard in the Fort Worth suburb of Benbrook. Situated on more than a half acre, the property is tenanted by Blockbuster Video and Trendsetters. It is surrounded by several national retailers, including Wal-Mart Supercenter and The Home Depot. Philip Levy of Marcus & Millichap represented the Texas-based seller and brought the Dallas-based buyer to the table. The acquisition price was not disclosed.
FORT MYERS, FLA. — Cincinnati-based North American Properties has opened its 480,000-square-foot power center at The Forum at Fort Myers, a 706-acre site located between Colonial Boulevard and State Route 82 in Fort Myers. Anchor tenants include Target, Best Buy, Ross Dress For Less, Bed Bath & Beyond, Staples, Books-A-Million, Petco, Rack Room Shoes, The Home Depot and Mattress Giant. An additional five tenants will open shop in the next few months, and SunTrust Bank will move into an outparcel in early 2009. The master-planned Forum at Fort Myers, which features 850,000 square feet of office space and 1,300 residential units, will deliver in 2010.
RICHMOND, VA. — James Ashby, IV, of Thalhimer’s Richmond office handled the negotiations in The Salvation Army’s purchase of a 15,600-square-foot store from Washington, D.C.-based LZB Furniture Galleries for $2 million. The building, located at 11000 Midlothian Turnpike in Richmond, will be converted from a La-Z-Boy retailer to a Salvation Army.
OAK PARK, ILL. — Marcus & Millichap Real Estate Investment Services has arranged the sale of the Eleven 20 Club, a 63,256-square-foot retail center located at 1120 Lake St. in Oak Park. The sales price for the property was $15.8 million. Tenants at the center include Bar Louie and Lane Bryant, as well as a Fitness Formula Gym, which occupies the second and third floors. Situated directly above the development are 44 residential condos. Evan Halkias and Michael Marks of Marcus & Millichap’s Chicago Downtown Office represented both parties in the transaction.
HUTCHINSON, MINN. — Twin Cities, Minn.-based Welsh Cos. has completed the investment sale of Hutchinson Mall located at 1060 Highway 15 in Hutchinson. A local private investor has acquired the 120,831-square-foot retail facility, which is 80 percent leased, for an undisclosed amount. Bob Pounds and Tim Prinsen of NAI Welsh represented the seller, Beachwood, Ohio-based Developers Diversified Realty, in the transaction.
SPRINGFIELD, VT. — Ted Sidel and Brian Sheehan of Boston-based EagleBridge Capital have arranged $2 million in construction and permanent financing for the Springfield Shopping Center, which is located on River Street in Springfield. When complete, the center will consist of two buildings totaling 21,830 square feet. Current tenants of the 12,730-square-foot first building include Sherwin Williams, Enterprise Rent-A-Car, Springfield Hospital and Vermont Golden Eagle Restaurant. Dollar General will occupy the second building, which totals 9,100 square feet.
NEW YORK CITY — California-based The Walking Company, a national shoe retailer, has leased 3,135 square feet of retail space at 551 Madison Ave. in New York for its Manhattan flagship store. The company signed a 15-year lease for the ground level of the building, which is located between 55th and 56th streets in Manhattan’s Plaza District. The space, which was previously occupied by Allen-Edmonds, offers 30 feet of frontage on Madison Avenue. Retail neighbors include Robert Marc, Geox, Lacoste, Links of London and Thomas Pink. Kenneth Hochhauser of Newmark Knight Frank represented The Walking Company; Steven Soutendijk and Nick Madden of Cushman & Wakefield Retail Services represented the landlord, LaSalle Investment Management, in the lease negotiations.
HAYWARD AND SAN LORENZO, CALIF. — ProWash Consulting has acquired Hutch’s Car Wash and Quick Lube, a 4-property car wash and quick lube retail chain located in Northern California, for $15.75 million. The portfolio consists of Hutch’s Car Wash at 1367 A St. in Hayward; Hutch’s Quick Lube at 1360 B St. in Hayward; Hutch’s Self-Serve Car Wash at 494 Rousseau St. in Hayward and Hutch’s Car Wash at 17945 Hesperian Blvd. in San Lorenzo. The transaction consists of fee-simple real estate for two of the car washes and the quick lube, as well as a leasehold interest in the third car wash. Paul Dadgar represented both the seller and buyer in the off-market transaction.