WHITEHALL, PA. — Marcus & Millichap has completed the $13.21 million sale of a 14.28-acre, 20-year absolute triple-net ground lease in Whitehall. The parcel, which is located at 2650 MacArthur Rd., will house a 166,609-square-foot Lowe’s Home Improvement store. Brand Nathanson and Jordan Muchnick of Marcus & Millichap represented the seller and the buyer in the negotiations.
ORANGE COUNTY, FLA. AND COLONIAL HEIGHTS, VA. — Fort Lauderdale, Fla.-based Morgan Property Group (MPG) is developing two retail centers in Orange County and Colonial Heights, through its local affiliates. MPG acquired 19 acres at the southeast corner of Auvers Boulevard and Semoran Boulevard in Orange County. Its local affiliate, Semoran Partners, is developing the 6-acre commercial tract, which will be anchored by a 14,280-square-foot Walgreens. The drugstore is scheduled to open in first quarter 2009. MPG acquired 2.7 acres at the southwest corner of Boulevard and Bruce Avenue in Colonial Heights, from multiple sellers. Its local affiliate, Boulevard I Realty, is developing a retail center, which will be anchored by a freestanding 14,820-square-foot Walgreens. The remaining 3,600 square feet is available for ground lease or build-to-suit. The drugstore will open in January 2009. Whittle & Roper and Jones Realty & Construction Corp. represented MPG in the land transaction.
ORANGE COUNTY, FLA. AND COLONIAL HEIGHTS, VA. — Fort Lauderdale, Fla.-based Morgan Property Group (MPG) is developing two retail centers in Orange County and Colonial Heights, through its local affiliates. MPG acquired 19 acres at the southeast corner of Auvers Boulevard and Semoran Boulevard in Orange County. Its local affiliate, Semoran Partners, is developing the 6-acre commercial tract, which will be anchored by a 14,280-square-foot Walgreens. The drugstore is scheduled to open in first quarter 2009. MPG acquired 2.7 acres at the southwest corner of Boulevard and Bruce Avenue in Colonial Heights, from multiple sellers. Its local affiliate, Boulevard I Realty, is developing a retail center, which will be anchored by a freestanding 14,820-square-foot Walgreens. The remaining 3,600 square feet is available for ground lease or build-to-suit. The drugstore will open in January 2009. Whittle & Roper and Jones Realty & Construction Corp. represented MPG in the land transaction.
FORT WAYNE, IND. — Marcus & Millichap has brokered the sale of Covington Plaza, a 199,701-square-foot shopping center located at 6400 W. Jefferson Blvd. in Fort Wayne, for $21.02 million. The property comprises two buildings situated on a 28.26-acre lot, and sold for a price of $106 per square foot. Greg Moyer of Marcus & Millichap’s Indianapolis office, along with Lori Schneider of the firm’s Fort Lauderdale, Fla., office, represented the undisclosed seller. The property was acquired by Lamar Cos.
FORT WAYNE, IND. — Marcus & Millichap has brokered the sale of Covington Plaza, a 199,701-square-foot shopping center located at 6400 W. Jefferson Blvd. in Fort Wayne, for $21.02 million. The property comprises two buildings situated on a 28.26-acre lot, and sold for a price of $106 per square foot. Greg Moyer of Marcus & Millichap’s Indianapolis office, along with Lori Schneider of the firm’s Fort Lauderdale, Fla., office, represented the undisclosed seller. The property was acquired by Lamar Cos.
NEW YORK CITY — Bremen House has sold Unilake Shopping Plaza in Queens, New York City, to Vickers Realty for $4.7 million. The 14,780-square-foot retail center is located at the intersection of Union Turnpike and 271st St. in the New Hyde Park area. Alan Miller and Benjamin Tapper of Eastern Consolidated represented the seller, and Robert Oritz, also of Eastern Consolidated, represented the buyer.
NEW YORK CITY — Bremen House has sold Unilake Shopping Plaza in Queens, New York City, to Vickers Realty for $4.7 million. The 14,780-square-foot retail center is located at the intersection of Union Turnpike and 271st St. in the New Hyde Park area. Alan Miller and Benjamin Tapper of Eastern Consolidated represented the seller, and Robert Oritz, also of Eastern Consolidated, represented the buyer.
WESLEY CHAPEL, FLA. — Forest City Commercial Development and West Palm Beach, Fla.-based The Goodman Company have signed 42 additional tenants at The Shops at Wiregrass, an 800,000-square-foot lifestyle center in Wesley Chapel, located at the intersection of State Road 56 and Bruce B. Downs Boulevard. The new retailers include American Eagle Outfitters, Barnes & Noble, Coldwater Creek, Fifth Third Bank, Gymboree, Kay Jewelers, Talbots and White House | Black Market. The property is anchored by Dillard’s, Macy’s and JC Penney, and will open in October.
WESLEY CHAPEL, FLA. — Forest City Commercial Development and West Palm Beach, Fla.-based The Goodman Company have signed 42 additional tenants at The Shops at Wiregrass, an 800,000-square-foot lifestyle center in Wesley Chapel, located at the intersection of State Road 56 and Bruce B. Downs Boulevard. The new retailers include American Eagle Outfitters, Barnes & Noble, Coldwater Creek, Fifth Third Bank, Gymboree, Kay Jewelers, Talbots and White House | Black Market. The property is anchored by Dillard’s, Macy’s and JC Penney, and will open in October.
KALAMAZOO, MICH. — Kalamazoo-based PlazaCorp Realty Advisors has plans to build a 12,055-square-foot retail center near the intersection of West Main Street and Drake Road in Kalamazoo. The existing Colonial Kitchen Restaurant located on the property will be demolished to make way for the new building and parking facility. The building will be occupied by Colonial Kitchen, AT&T, and additional retail tenants. Completion is scheduled for this fall.