HAVERSTRAW, N.Y. — The Boulder Group, an Illinois-based brokerage firm, has arranged the $5 million sale of a 3,034-square-foot retail property in Haverstraw, about 35 miles north of Manhattan, that is net leased to 7-Eleven. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a regional developer, in the transaction. The buyer was a New York-based private investor that acquired the asset via a 1031 exchange. Both parties requested anonymity.
CHICAGO — Bradford Allen Investment Advisors has acquired The Henry, a multifamily and retail building located at 4346 N. Honore St. in Chicago’s Ravenswood neighborhood. The purchase price was undisclosed. The five-story building, completed in 2019, features 38 apartment units and one retail space occupied by Culver’s. At the time of sale, the property was 97 percent occupied. Rents range from $1,751 to $3,000 per month. John Butler and Danielle Morse represented Bradford Allen on an internal basis. Tyler Hague and Lauren Stoliar of Colliers represented the undisclosed seller.
WARSAW, ILL. — Marcus & Millichap has brokered the $1.1 million sale of a 7,489-square-foot retail property occupied by Dollar General in Warsaw, a city in western Illinois along the Mississippi River. The net-leased property is located at 511 Main St. Dustin Javitch, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a limited liability company. Edward Nelson and Jake Parker of Marcus & Millichap secured and represented the buyer, an individual trust completing a 1031 exchange.
PADDOCK LAKE, WIS. — Ashish Merchant, an operator of the Culver’s restaurant chain, has purchased 1.6 acres of vacant land on Highway 83 in Paddock Lake, about 15 miles west of Kenosha. The sales price was undisclosed. Tom Treder of Founders 3 Real Estate Services represented the buyer. The seller was PL 83 Development Inc., an affiliate of Bear Development. There are nearly 900 Culver’s restaurants across the United States. The first location opened in Wisconsin in 1984.
COLORADO SPRINGS, COLO. — Evergreen Devco has completed the disposition of six retail parcels located on the northeast corner of Centennial Boulevard and Filmore Street in Colorado Springs. The 8.5-arce retail development at West Mesa Commons is part of Evergreen Devco’s 51-acre mixed-use project. The development includes the 317-unit Outlook West Mesa apartment community developed by Evergreen, a 6.6-acre parcel sold to Lokal Communities for the development of 105 townhomes at The Vistas at West Mesa, and collaboration with the City of Colorado Springs’ parks department for the remaining 21.7 acres within the West Mesa corridor, called West Mesa Commons. Evergreen sold the last retail parcel, which a 2,213-square-foot Starbucks Coffee occupies, in May for an undisclosed price. Other already open retailers at the center are a 5,606-square-foot Super Star Car Wash and a 5,533-square-foot Circle K. California-based Pacific Dental Service will commence construction of a location this fall, while Popeyes Louisiana Kitchen and Les Schwab Tire Centers both plan to start construction before year’s end.
BANNING, CALIF. — CBRE has brokered the sale of a retail building located at 806 W. Ramsey St. in Banning, approximately 90 miles east of Los Angeles. A local private investor acquired the asset from another private investor for $6.8 million. David McNevin, Melissa Ley Marshall and Ian Schroeder of CBRE’s Net Lease Property Group in Newport Beach represented the seller in the transaction. Rite Aid occupies the 17,272-square-foot property, which was built in 2009, on a double-net lease.
FORT WORTH, TEXAS — JLL has brokered the sale of Eastchase Market, a 261,730-square-foot shopping center in Fort Worth. Built in 1995, the center was 92 percent leased at the time of sale to tenants such as AMC Theatres, Ross Dress for Less, Spec’s Wine, Spirits & Finer Foods, Big Lots, Harbor Freight Tools and Marshalls. Adam Howells, Barry Brown and Cole Sutter of JLL represented the undisclosed seller in the transaction. The buyer was also not disclosed.
GLEN BURNIE, MD. — Floor & Décor, a flooring and tile specialty retailer based in metro Atlanta, plans to open a new warehouse store and design center in Glen Burnie. The store will mark the retailer’s second location in the greater Baltimore area and fourth in Maryland. Floor & Décor operates more than 200 warehouse stores and five design studios across 36 states. The company has signed a ground lease with locally based St. John Properties for the Glen Burnie location. Bill Holzman represented the landlord in the lease negotiations on an internal basis, and John Meyer and Brian Finkelstein of KLNB represented the tenant. Floor & Décor will employ 50 full-time and part-time associates when it opens next year. The property will be situated at the intersection of Ritchie Highway and Dover Road. The square footage of the property was not disclosed, but Floor & Décor’s prototypical stores span 75,000 to 80,000 square feet.
LUMBERTON, N.C. — Legacy Realty Group Advisors has arranged the $7.1 million sale of Northeast Plaza, a 53,867-square-foot shopping center in Lumberton. Built in 2000, the property was leased to 10 tenants at the time of sale. Jacob Baruch of Legacy represented the undisclosed seller in the transaction. Lisa Schaefer of LRS Management represented the buyer.
HOUSTON — Locally based brokerage firm The Blue Ox Group has arranged the sale of Centre at Oak Park, a retail strip center located in Houston. According to LoopNet Inc., the center was built in 2016 and totals 9,200 square feet. Tenants at the property include Jimmy Johns and Smart Financial Credit Union. Burdette Huffman of Blue Ox represented the seller in the transaction. Gigi Wenjie Wang of The Sunet Group represented the buyer. Both parties requested anonymity.