GREENSBORO, N.C. — Sacramento, Calif.-based Tower Investments has purchased 30 acres in Greensboro, formerly the site of the Guilford Mills plant, for future retail development. The property is located along Hornaday Road near Interstate 40 and I-840. The current 300,000-square-foot industrial building on the property will be leased until an anchor retail tenant has been secured. Don Moss of Charlotte, N.C.-based Hart Corporation represented the buyer, and the seller was represented by Tom Townes of Greensboro-based Triad Commercial Properties.
Retail
YUMA, ARIZ. — Yuma-based Fury Lane LLC has acquired a 37,100-square-foot retail center, which is located at 2816-2820 S. 4th Ave. in Yuma, for $6 million. The six-tenant property is anchored by Hastings Entertainment. Other tenants include Papa John’s Pizza, FACI Fashion Specialists, Sharkley’s Backpacks & Luggage, Elite Tanning and Elegant Nails & Spa. The center is also anchored by a CVS/pharmacy, which was not included in the sale. John Conover of Irvine, Calif.-based Faris Lee Investments represented the buyer and the seller, Indiana-based Hastings Development LLC, in the transaction.
CHICAGO AND CHESTERFIELD, MO. — Colliers Bennett & Kahnweiler (CBK) has represented Evanston, Ill.-based Davis Street Land Co. in the sale of two Midwest shopping centers for a total of $22.9 million. In Chicago, the company disposed of Clybourn Galleria, a 25,054-square-foot retail center located at 1845 N. Clybourn Ave. The center is fully occupied by tenants including Ann Taylor Loft, Chico’s, Jos. A. Bank, Gymboree, Talbot’s and Nine West. The property was sold to Greenstreet Real Estate Partners for $13.5 million. In Chesterfield, CBK disposed of The Shops at Clarkson Corner, a 20,432-square-foot lifestyle center located at 1540 Clarkson Rd. The center is also fully leased and includes tenants Talbot’s, White House/Black Market, Chico’s and Venetian Nail Spa. The property was acquired for $9.4 million by a private St. Louis-based investor, which was represented by Jane Hollo of Colliers Turley Martin Tucker. Kevin Gazley of CBK represented Davis Street Land Co. in both transactions.
ELKHART, IND. — Oakbrook Terrace, Ill.-based Mid-America Real Estate Corp. has arranged the sale of North Pointe Plaza, a 179,602-square-foot community shopping center located at the corner of Cassopolis Street and the Indiana Tollway in Elkhart. The center is anchored by Martin’s Super Market and Kmart; other tenants include CVS/pharmacy, Beneficial Finance, GNC and Fashion Bug. The property is currently 93 percent occupied. Ben Wineman and Joe Girardi of Mid-America represented the seller, West Bloomfield, Mich.-based NP Associates, which is an affiliate of First Holding Management Co. The buyer, Fort Wayne, Ind.-based Equity Investment Group, negotiated the transaction in-house. The acquisition price was not disclosed.
ROCHESTER, N.Y. — The Rose Hill Group of WNY LTD has arranged $3.25 million in permanent financing for Webster Parc Retail Center in Rochester. The 14,000-square-foot retail facility is located along Route 404 and includes tenants such as Metro Mattress, AT&T, and Aspen Dental. The borrower was undisclosed.
ROCHESTER, N.Y. — The Rose Hill Group of WNY LTD has arranged $3.25 million in permanent financing for Webster Parc Retail Center in Rochester. The 14,000-square-foot retail facility is located along Route 404 and includes tenants such as Metro Mattress, AT&T, and Aspen Dental. The borrower was undisclosed.
SIOUX CITY, IOWA — Sioux City-based NAI LeGrand & Co. has arranged the sale of a 68,000-square-foot retail building located in Sioux City. The building is located in Perry Creek Shopping Center, and was formerly occupied by Cub Foods. Ritch LeGrand of NAI represented the seller, Supervalu. The property was acquired by Sioux City-based retailer Bomgaars for an undisclosed price.
NAPERVILLE, ILL. — Edgemark Commercial Real Estate Services has completed the sale of Waterside Center, a 52,101-square-foot retail center located at 2764-2768 Aurora Ave. in Naperville. The building is situated on 5.97 acres and is anchored by Michaels. Jeffrey Kowal of Edgemark represented the seller, a locally based partnership; Rueben Helich of Wilson Bros. Commercial represented the buyer, a California partnership participating in a 1031 exchange. The acquisition price was not disclosed.
ALLEN PARK, MICH. — Southfield, Mich.-based Bernard Financial Group has secured a $13.7 million loan for Fairlane Green, a 125,450-square-foot retail center located in Allen Park. The borrower was DBSI Housing, and the lender was Goldman Sachs Commercial Mortgage Co. The terms of the loan were not disclosed.
LODI, N.J. — Goldstein Development Co. and ARC Properties, a joint venture, have completed construction of Essex Square Shopping Center in Lodi. The 15,000-square-foot retail center is almost fully tenanted with retailers such as North Fork Bank, 7-Eleven, Ranch One, Sleepy’s and Rita’s Water Ice. Located at the intersection of Route 17 and Essex Street, the center is situated in close proximity to national retailers such as Home Depot and Stop & Shop. Lew Finkelstein of The Goldstein Group represented the tenants and owners in each lease transaction.