GREENVILLE, S.C. — An undisclosed buyer has purchased Crosspointe Plaza, a 72,978-square-foot shopping center in Greenville, from an affiliate of Harbor Group International, for an undisclosed amount. The center is situated on 5.6 acres near the Greenville-Spartanburg International Airport. Tenants include Circuit City and Jason’s Deli. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle’s Atlanta office represented the buyer.
SANFORD, FLA. — Lake Mary, Fla.-based Lexington Plaza LLC is developing Lexington Plaza, a $4.8 million, 18,000-square-foot retail center in Sanford, near the intersection of State Road 46 and Mangoustine Road behind Central Florida Regional Hospital. Construction will begin this month and complete in the fall. Stirling International Realty’s Commercial Group is the exclusive leasing agent.
ORLANDO, FLA. — Charlotte, N.C.-based Pavilion TK-Orange Ave. LLC has purchased a 3,800-square foot retail building in Orlando, from Michael Crisante, for $1.4 million. The property is situated on a .38-acre site at 2100 South Orange Ave. Kevin O’Connor and Matt Cichocki of NAI Realvest represented the buyer in the sales transaction. The facility will be renovated for a Tire Kingdom.
HANOVER PARK AND ORLAND PARK, ILL. — Chad Firsel of NAI Hiffman has arranged two retail transactions in the Chicago area. A Chicago-based private developer sold a 3,903-square-foot, multi-tenant retail center to a Chicago-based private investor for $1.85 million. Located across the street from the redeveloped Metra Station in Hanover Park, the center is anchored by Starbucks Coffee, Jackson Hewitt and T-Mobile. In Orland Park, Firsel acted as the sole broker for a $3.3 million land sale located at 16153 S. LaGrange Rd. The pad site, which houses a freestanding Houlihan’s restaurant, was sold by a local developer to Juan Tamayo of Orland Park.
OAK BROOK, ILL. — Inland Real Estate Sales has brokered the sale of Wilson Plaza, which is a 11,600-square-foot retail center located at 336 East Wilson St. in Batavia, Ill., for $1.73 million. Tenants include White Hen, Subway, Rosati’s Pizza, Fantastic Sam’s, Panda Restaurant, Dimples Doughnuts and Wilson Cleaners. Richard Kehoe of Inland’s Lake Bluff, Ill., office represented the seller, a real estate investment trust. The property was acquired by an Oak Brook Terrace, Ill.-based investment group.
HANOVER PARK AND ORLAND PARK, ILL. — Chad Firsel of NAI Hiffman has arranged two retail transactions in the Chicago area. A Chicago-based private developer sold a 3,903-square-foot, multi-tenant retail center to a Chicago-based private investor for $1.85 million. Located across the street from the redeveloped Metra Station in Hanover Park, the center is anchored by Starbucks Coffee, Jackson Hewitt and T-Mobile. In Orland Park, Firsel acted as the sole broker for a $3.3 million land sale located at 16153 S. LaGrange Rd. The pad site, which houses a freestanding Houlihan’s restaurant, was sold by a local developer to Juan Tamayo of Orland Park.
REEDLEY, CALIF. — Nashashibi Family Trust has acquired Reedley Place Shopping Center, which is located at 1721-1761 E. Manning in Reedley. The two-building, 22,222-square-foot center sold for $7.72 million. The center is anchored by a Rite-Aid and the Educational Employees Credit Union. Baycal Realty represented the buyer; Reg Kobzi, Sam Aliso and Dan Riley of CB Richard Ellis represented the seller, Sterling Development Corp., in the transaction.
CHELSEA, ALA. — Grubb & Ellis Realty Investors has acquired a 14,800-square-foot Walgreens building in Chelsea on behalf of a private investor, from Chelsea Corners LLC, for an undisclosed amount. The property is situated on 1.7 acres of land at 164468 Block US Highway 280 and is 100 percent leased to Walgreens. Grubb & Ellis Realty Investors represented the buyer, and the seller was represented by Lior Regenstreif of Marcus & Millichap’s Encino, Calif., office.
ST. LOUIS — Swansea, Ill.-based Holland Construction Services has begun construction of the $16 million Dave Mungenast Lexus of St. Louis, located at the corner of Mason and Manchester roads in St. Louis. The 70,000-square-foot car dealership will replace the current Mungenast Lexus located on Manchester Road. The LEED-certified project will include a large showroom, a service department, a customer lounge and office space. Green features include preferred parking for fuel-efficient vehicles, a reflective roofing system, and the use of recycled and renewable materials. Chesterfield, Mo.-based HDA Architects is providing design services. Completion is scheduled for early 2009. Holland recently completed the new Dave Mungenast Alton Toyota/Scion dealership, located in Alton, Ill.
READING, PA. — NorthMarq Capital has provided a $9.1 million in first mortgage financing for Exeter Plaza in Reading. The 128,000-square-foot neighborhood shopping center includes tenants such as Blockbuster and is anchored by a Giant Grocery Store. David Henrich of NorthMarq Capital’s Philadelphia office arranged the financing for the borrower, Exeter Plaza Associates. The loan was base done a 10-year term with a 30-year amortization schedule.