EAST HARTFORD, CONN. — Sperry Van Ness has completed the $19.16 million sale of School Street Square in East Hartford. The 147,258-square-foot retail center is located on 14 acres at 265 Ellington Rd. Tenants include Big Y World Class Market, Rite Aid, Fashion Bug and Blockbuster. Joseph French, Jr. and his team at Sperry Van Ness represented the seller, Trumball, in the transaction. The buyer was an undisclosed New York-based private investor.
MORRISTOWN, N.J. Houlihan Parnes/iCap Realty Advisors have arranged the $13 million sale of a 54,000-square-foot retail building in Morristown. The facility is located in South Street in the city s business district. Rob Tilburzi and Richard Slavin of Houlihan Parnes/iCap arranged the sale for the undisclosed buyer and seller in the transaction.
TUSKEGEE, ALA. — Delaware-based Kamin Realty has acquired a CVS/Pharmacy, featuring 10,125 square feet in Tuskegee, from Tom and Lucy Fullerton, for $1.7 million. The pharmacy and is located at 202 West Martin Luther King Hwy. Mark Taylor and Dean Zang of Marcus & Millichap’s Philadelphia office represented both the seller and buyer in the transaction.
NORTH MIAMI, FLA. — The Craig Zinn Automotive Group is developing a 1 million-square-foot, 9-acre Lexus dealership in North Miami, located at 14100 Biscayne Blvd. The project will include a 222,000-square-foot showroom, service and parts facility; a four-story, 808,074-square-foot parking structure to hold 2,000 cars; and a Lexus Lifestyle Center, which will partner with the Rosomoff Pain Center to offer consultations on lifestyle modification. The project will be the largest Lexus dealership in the country. Fort Lauderdale, Fla.-based Stiles Construction Co. is the general contractor, and the showroom was designed by Winningham, Bundy & Tice Architects. Construction is slated for completion next spring.
OVIEDO, FLA. — Tarrytown, N.Y.-based Juster Development Co. has acquired Tuscawilla Bend Shopping Center, a 83,777-square-foot center in Oviedo, from Jacksonville Beach, Fla.-based Case Pomeroy, for $12 million. The shopping center is located at 2010 Winter Springs Blvd. and is anchored by Publix. Karl Johnston of Cushman &Wakefield’s Jacksonville, Fla., office was the sole broker in the transaction and exclusively represented the seller.
CHICAGO — Newcastle has acquired a 17,514-square-foot retail building, which is located at 801 West Diversey in Chicago’s Lincoln Park neighborhood, for $10 million. The single-story structure is 81 percent leased to a tenant roster that includes Dunkin Donuts, Back to Bed and Performance Bicycle Shop. It also includes 32 parking spaces. David Stone of Stone Real Estate represented Newcastle, as well as the undisclosed seller.
CANTON, MICH. — Birmingham, Mich.-based Broder & Sachse Real Estate Services will open a 19,000-square-foot Aldi grocery store this month in Canton Shopping Center, located at the intersection of Ford and Lilly roads in Canton. Broder & Sachse, which is the center’s owner and property manager, is also planning a multi-million dollar renovation of the center to correspond with the opening. Renovations, which will begin this spring, will include a new faade and streetscape. Additional tenants in Canton Shopping Center include bd’s Mongolian Barbecue, Chuck E. Cheese Pizza and Play It Again Sports.
BEAUMONT, TEXAS — Holliday Fenoglio Fowler’s (HFF) Houston office has arranged $6.5 million in 5-year, fixed-rate financing for the acquisition of a shopping center located at 4410 Dowlen Rd. in Beaumont. California-based Wu Investments acquired the property from an undisclosed seller. Crossroads Shopping Center is a five-building, 80,440-square-foot retail center that was fully leased at the time of sale. Tenants at the property include Stein Mart, Sprint and Morgan Stanley. Tucker Knight and Steven Gautier of HFF’s Houston office represented the buyer in the transaction, securing the loan through Mercantile Commercebank.
ANNAPOLIS AND OCEAN CITY, MD.; GAINESVILLE, VA. — Bed Bath & Beyond will open three stores in Annapolis, Ocean City and Gainesville this year. A superstore location will open this fall at Parole Towne Plaza in Annapolis, featuring 42,446 square feet. The center is anchored by Whole Foods Market and Target. Also, a location will open this spring at White Marlin Mall in Ocean City, featuring 23,404 square feet. The mall is anchored by Marshalls, Michaels, Staples and Petco. Both retail centers are owned and managed by Owning Mills, Md.-based Greenberg-Gibbons. In Gainesville, a 30,000-square-foot store will open will open this summer at the Shoppes at Stonewall, a 250,000-square-foot retail center being developed by Regency Centers. Anchor tenants include Wegman’s, Michaels and Staples. Construction on the shopping center began last fall and will complete this summer. Bed Bath & Beyond was represented by Les Sax and Dennis Bodley of Bethesda, Md.-based Sax Realty in all three transactions.
TROY, MO. — Swansea, Ill.-based Holland Construction Services, as general contractor for developer Turnbull Properties, has completed a $2.3 million Walgreens at the intersection of Highway 47 and Lincoln Drive in Troy. The freestanding, 14,500-square-foot building marks the first Walgreens developed in the community. The Lawrence Group of St. Louis served as the architect for the project. Holland has completed the construction of a number of Walgreens projects in the greater St. Louis area.