RICHMOND, VA. — Chicago-based The Bond Cos. has acquired Beaufont Center, a 314,898-square-foot shopping center in Richmond, from GSC/Jon Perel, for $17 million. The center is situated on 47 acres at the intersection of Midlothian Turnpike and Chippenham Parkway. The property is anchored by a 169,876-square-foot space, occupied by a division of UPS. Plans for redevelopment are undetermined. Mike Dillon of Marcus & Millichap’s Chicago office, Michael Early of its Williamsburg, Va., office and Matthew Greenspon of its Charlotte, N.C., office were the sole brokers in the transaction.
Retail
TOPEKA, KAN. — The Irvine, Calif., office of Sperry Van Ness (SVN) has completed the sale of a 45,000-square-foot, single-tenant retail property, located at 5900 SW Huntoon St. in Topeka, for $6.83 million. The building is situated on 3.5 acres of land and is occupied by Dick’s Sporting Goods. Jereme Snyder, Geoff Tranchina and Scott Tiano of SVN represented the seller, a private Las Vegas-based investor. The buyer, which was also undisclosed, was represented by Larry DeSantis, also of SVN.
SOMERVILLE, MASS. — Shawn Herlihy and Christine Morrell of Goedecke & Co.’s Boston office have secured $10 million in permanent financing for One Davis Square in Somerville. The 48,799-square-foot retail/office property features a new CVS/pharmacy on the first level and a new Boston Sports Club on the second level. The facility also includes 12,000 square feet of office space. The loan was funded for the borrower, Krisco Development, by Genworth Life Insurance.
CARLSBAD, CALIF. — Irvine, Calif.-based Faris Lee Investments has arranged the sale of a major portion of The Island @ Carlsbad, located at 5814 Van Allen Way in Carlsbad, for $23.6 million or $590 per square foot. The two-story retail center is located within Carlsbad Research Center, a master-planned office and R&D development totaling approximately 15 million square feet on 560 acres. The portion of the center sold in the transaction comprises 39,982 square feet, and includes tenants such as Carl’s Jr., U.S. Healthworks, TD Waterhouse, First Future Credit Union, Randstad U.S. and The Islands Oasis Food Court. Dennis Vaccaro of Faris Lee represented the seller, Orange County, Calif.-based Island Property Partners LLC, et al. The property was acquired by Los Angeles-based Sero Properties in a 1031 exchange. In January, Faris Lee completed the $5.3 million sale of two buildings in the retail center, which were the only two not included in the present transaction. The buildings are occupied by U.S. Bank and 7-Eleven, and total 7,276 square feet.
GOOSE CREEK, S.C. — Charlotte, N.C.-based Lincoln Harris, an affiliate of Lincoln Property Company, has acquired 16 acres in Goose Creek, from Charleston, S.C.-based The Daniel Island Company, for Phase 1 of The Market at Carnes Crossroads. The initial $25 million, 150,000-square-foot phase will feature a 48,756-square-foot Harris Teeter grocery store, 60,000 square feet of specialty shops and restaurants, 25,000 square feet of office space and multiple outparcel tenants. The retail-oriented center will be built within Carnes Crossroads, a 2,400-acre master-planned residential community developed by The Daniel Island Company. Erin England of Colliers Keenan’s Charleston office represented the buyer in the land transaction, and the seller was represented by Eric Meyer of Charleston-based Meyer Kapp.
CAPE COD AND BROCKTON, MASS. — Jonathan Aron of NAI Hunneman has brokered the $9.2 million sale of three freestanding CVS Pharmacy locations in Cape Cod and Brockton. In Cape Cod, Liberty Properties purchased two facilities located at 1030 Putman Ave. in Marstons Mills and 176 N. St. in Hyannis. In Brockton, Main Street Brockton, LLC. acquired a facility located at 1933 Main St. Aron represented the seller, an entity affiliated with Coffman Realty, and procured the buyers in both transactions.
JACKSON, N.J. — Marcus & Millichap has completed the $8.5 million sale of a strip shopping center in Jackson. The newly constructed strip center features 32,068 square feet with tenants such as The Learning Experience. Paul Hewitt of Marcus & Millichap represented the seller, Diversified Developers, and Mark Gjonbalaj of Marcus & Millichap represented the buyer, Jackson Square Equities.
LAS VEGAS — South Korea-based Shinhan E&C America has acquired Durango Commons in Las Vegas for $6.97 million from PVD Charleston Stone Mart. The 14,030-square-foot retail center is located at 950 S. Durango Dr. and is anchored by Starbucks Coffee. Charles Moore, Christina Roush and Marlene Fujita of CB Richard Ellis’ Las Vegas office represented the seller in the transaction.
LAS VEGAS — Las Vegas-based LM Construction Co. has broken ground on Wagon Trail Village in Las Vegas. The 29,120-square-foot, three-pad retail center is located at the northwest corner of Decatur Boulevard and Interstate 215. The project is estimated to cost $3.2 million and is being developed by San Francisco-based J3 Properties.
NEWPORT NEWS, VA. — Chicago-based Inland Western Retail has acquired Jefferson Commons, a 306,249-square-foot shopping center in Newport News, from an affiliate of West Palm Beach, Fla.-based The Goodman Company, for $79.6 million. The center is located at the intersection of Jefferson Avenue and Bland Boulevard. Tenants include Ross Dress For Less, T.J. Maxx, Off Broadway Shoe Warehouse, Trader Joe’s, Petco and Starbucks. The property is also anchored by a Kohl’s, which was not included in the sale. Casey Rosen and Dennis Carson of CB Richard Ellis’ Miami office and Debra Ramey of The Shopping Center Group’s Norfolk, Va., office represented the seller.