SOUTHPORT, IND. — Spectrus Real Estate has arranged the 1031 exchange of Southport Pavilion, a 16,369-square-foot retail strip center located at the interchange of Southport Road and Interstate 65 in Southport. The property is shadow-anchored by Meijer Supercenter, and has a tenant roster that includes Panera Bread, Game Stop, Great Clips, Azteca Mexican Restaurant and Domino’s Pizza. Tom Georges of Spectrus’s northeast regional office represented the seller. Stuart Singer of NAI Eric Bram & Co. represented the buyer. Both parties, as well as the acquisition price, were undisclosed.
WINSTON-SALEM, N.C. — Ionian Investments is developing The Shops at St. George Square, a $10 million, 120,000-square-foot retail center in Winston-Salem, located along Hanes Mall Boulevard near Interstate 40 and South Stratford Road. The project consists of 60,000 square feet of Class A retail and office space, 40,000 square feet of retail shops and an interior boulevard of 20,000 square feet of office space. Two restaurants are expected to open in June and late this year, respectively. The Meridian Realty Group of Winston-Salem is exclusively leasing the property.
LOMBARD, ILL. — Midwest Real Estate Equities has sold a 66,000-square-foot shopping center condominium located in the company’s Landings of Lombard shopping center at the interchange of North Avenue and Interstate 355 in Lombard. The condo was acquired by Restaurant Depot, which was represented in the transaction by Glen Ellyn, Ill.-based Spartan Real Estate & Development. Midwest Real Estate Equities was represented by Buffalo Grove, Ill.-based Horizon Realty Services. Midwest is in the process of redeveloping the 204,000-square-foot Landings of Lombard, which was formerly anchored by Menards. The center is currently shadow-anchored by an 11,000-square-foot Harlem Furniture. The sale price was not disclosed.
MADISON, WIS. — The Madison office of Lee & Associates has arranged the sale of Pewaukee Commons, a 33,555-square-foot retail property located at the corner of Pewaukee and Capitol drives in Madison. The shopping center is occupied by Office Max and Rec Room Plus. Steve Doran and John Walsh of Lee represented the undisclosed buyer. The Milwaukee office of CB Richard Ellis represented the undisclosed seller.
DANBURY, CONN. — I.C.A Realty Corp. has brokered the sale of a triple net leased Borders Books & Music in Danbury. Located at 110 Federal Rd., the store encompasses 27,594 square feet of space. James Dwoskin of I.C.A Realty Corp. represented the undisclosed buyer and seller in the transaction. The sale price was also undisclosed.
AURORA, ILL. — CB Richard Ellis (CBRE) has arranged the sale of West Aurora Plaza, a 207,102-square-foot community shopping center located at 1901-1961 W. Galena Blvd. in Aurora. The property includes six buildings comprising 21 units. It is 88 percent occupied, and is anchored by Wal-Mart. Additional tenants include Auto Zone, Hallmark, Blockbuster Video and Sally Beauty Supply. George Good and Christian Williams of CBRE represented the seller, Arnold Lies Co.; the property was acquired by Northbrook, Ill.-based The Cloverleaf Group for an undisclosed amount.
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.