WESTMINSTER, COLO. — A California syndicated investment group has acquired Westminster Crossings, a 31,279-square-foot retail center located at 13630-13640 Orchard Pkwy. in Westminster, for $9.67 million. Current tenants of the property include Starbucks Coffee, Verizon Wireless, Subway, Slim4Life, KaCee’s Wine & Spirits and Carl’s Jr. Jon Hendrickson of Marcus & Millichap brokered the transaction.
Retail
LINDSAY, CALIF. — Los Angeles-based Olivewood Properties LLC has acquired Olivewood Plaza, a 96,259-square-foot retail center located at 202-265 N. Highway 65 in Lindsay. Calabasas, Calif.-based Raymond Plaza LLC sold the property for $13.7 million. At the time of acquisition, the four-building property was 94 percent occupied by a variety of tenants, including Save Mart Supermarket, Rite Aid, Starbucks Coffee, AutoZone, Taco Bell, Tulare County, Subway, Movie Gallery and Straw Hat Pizza. Edward Hanley and Bryan Land of Hanley Investment Group Real Estate Advisors represented both parties in the transaction.
ALPHARETTA, GA. and TEXARKANA, ARK. — Boise, Idaho-based Spectrus Real Estate has closed four 1031 exchange transactions, totaling $26 million, in Alpharetta; Texarkana; Austin, Texas; and Meridian, Idaho, for San Francisco-based buyers. Mansell Plaza, a 14,473-square-foot retail building in Alpharetta, is located at 1605 Mansell Rd. The property is anchored by Starbucks, Waffle House and The Original Mattress Factory. Texarkana Plaza, an 11,600-square-foot retail center, is located at 131 Arkansas Blvd. The property is leased to five nationally accredited tenants. The buyers of both centers were represented by Stephen Pugh of Alain Pinel Investment Group, and the transactions included the Spectrus Net Lease PLUS program.
POLK COUNTY, FLA. — Cuhaci & Peterson Architects is designing two retail centers in Polk County, for Charlotte-based Crosland Co. and A.G. Armstrong, respectively. Crosland Co. is developing a 60,000-square-foot center, featuring a 40,000-square-foot Sweetbay supermarket, at the intersection of Highway 27 and State Route 547. A.G. Armstrong is developing Phase 2 of the Shoppes on the Ridge, which consists of a 40,000-square-foot addition. The property is located at the intersection of Highway 27 and Chalet Suzanne Road.
COLUMBIA, S.C. — Columbia Northeast LLC has acquired Columbia Northeast Shopping Center, a 58,783-square-foot, 10-acre property, from American Spectrum, for $3.2 million. The retail center is located at 9221 Two Notch Rd. Anchor tenants are Big Lots and Dollar General. Woody Sharpe of Columbia-based NAI Avant brokered the transaction.
SHEBOYGAN, WIS. — Milwaukee-based Ogden & Co. has arranged the sale of a 55,000-square-foot retail strip center, located at 3321 S. Business Dr. in Sheboygan, for $3.85 million. The property is anchored by Deals & Steals Furniture and Goodwill; additional tenants include Play It Again Sports, Pay Day Loan and The Barbershop. The property was acquired by Shevegas from HP Properties. Gordon Steimle and Roger Duchow of Ogden & Co. brokered the sale.
SHEBOYGAN, WIS. — Milwaukee-based Ogden & Co. has arranged the sale of a 55,000-square-foot retail strip center, located at 3321 S. Business Dr. in Sheboygan, for $3.85 million. The property is anchored by Deals & Steals Furniture and Goodwill; additional tenants include Play It Again Sports, Pay Day Loan and The Barbershop. The property was acquired by Shevegas from HP Properties. Gordon Steimle and Roger Duchow of Ogden & Co. brokered the sale.
ROCHESTER HILLS, MICH. — Footwear retailer DSW has opened a 16,400-square-foot store at Centro Properties Group’s Hampton Village Centre, a 460,000-square-foot shopping center located at the intersection of Rochester and Auburn roads in Rochester Hills. The store marks DSW’s 10th location in the Detroit metro area. Justine O’Brien represented Centro in the lease transaction.
ROCHESTER HILLS, MICH. — Footwear retailer DSW has opened a 16,400-square-foot store at Centro Properties Group’s Hampton Village Centre, a 460,000-square-foot shopping center located at the intersection of Rochester and Auburn roads in Rochester Hills. The store marks DSW’s 10th location in the Detroit metro area. Justine O’Brien represented Centro in the lease transaction.
PORTLAND, MAINE — John Edwards of Arbor Commercial Funding’s Boston office has arranged $1.18 million in financing for a 25-unit complex at 485 Cumberland Ave. in Portland. The 10-year loan was funded by Fannie Mae’s 3MaxExpress program. The borrower was undisclosed.