OSCEOLA, WIS. — Marcus & Millichap has negotiated the $1.1 million sale of a 9,026-square-foot retail property occupied by Dollar General in Osceola, about 47 miles northeast of Minneapolis. The net-leased building is located at 928 240th St. Mitch Grant and Nicholas Kanich of Marcus & Millichap represented the seller, a Milwaukee-based limited liability company. The property sold to a 1031 exchange, all-cash buyer. Todd Lindblom assisted in closing the transaction as the Wisconsin broker of record.
DURHAM, N.C. — Publix Super Markets has opened a 46,791-square-foot store at Marketplace at Ellis Crossing, a 30-acre mixed-use development underway in Durham. Located at the northeast corner of Ellis Road and Watchorn Street, the project marks the fourth North Carolina development for Thompson Thrift. Other tenants at the property, which features an additional 25,000 square feet of retail space, include Chipotle and First National Bank, which is scheduled to open in 2024. Sheetz, Heartland Dental, Lee Nails and It’s a Southern Thing Kitchen & Bar are also expected to open at the development this summer.
CHARLOTTE, N.C. — Two tenants have signed leases at Oakhurst Commons, a 135,000-square-foot adaptive reuse project currently underway in Charlotte. Massage studio Mood House will lease 3,000 square feet, marking the brand’s second Charlotte location. Additionally, Pop the Top Craft Beer will open a 2,000-square-foot brewery with outdoor patio space. A joint venture between MDH Partners and Parkside Partners acquired the property — located at 4000 Monroe Road and formerly home to a five-building office, warehouse and lab facility — in 2021. Upon completion, the development will include 120,000 square feet of office space and 15,000 square feet of retail space. Alex Mann of Thrift Commercial Real Estate Services handles leasing for the project.
ROUND ROCK, TEXAS — Partners Real Estate, the Houston-based investment and brokerage firm formerly known as NAI Partners, has arranged sale of a 5,302-square-foot retail property in the northern Austin suburb of Round Rock that is leased to Mister Car Wash. Landan Dory and Jason Chtay of Partners represented the buyer, an entity doing business as AJH Williamsburg Ltd., in the transaction. Spencer Henderson and Jim Ceresnak from B&E CRE represented the undisclosed seller.
STURGEON BAY, WIS. — Marcus & Millichap has arranged the $1.1 million sale-leaseback of a 1,650-square-foot property occupied by Jimmy John’s in Sturgeon Bay, a city in eastern Wisconsin. The single-tenant, net-leased building is located at 845 Egg Harbor Road. The property was originally built in 1995 and reconfigured for Jimmy John’s in 2017. Damien Yoder and Madison Harman of Marcus & Millichap represented the seller, a private investor. Tom Gommels of Marcus & Millichap secured and represented the buyer, an out-of-state private investor. Todd Lindblom assisted in closing the transaction as the Wisconsin broker of record.
BELL, CALIF. — NAI Capital Commercial has arranged the purchase of Atlantic Center Mini Mall, a 20,909-square-foot retail center located in Bell, just south of Los Angeles. Steven Weiss and Sam Kangavari of NAI represented the buyer, a private investor, in the transaction. The buyer plans to redevelop the property, converting it to a single-tenant retail building. The NAI team also negotiated a new lease with a national tenant.
OAKLAND PARK, FLA. — Walker & Dunlop has arranged $51 million in construction financing for Sky Building, a mixed-use development located in the South Florida city of Oakland Park. The borrower, locally based NRI Investments, previously signed a development agreement, lease agreement and purchase and sale agreement for the 2.1- acre site with the City of Oakland Park. Sky Building will house 136 affordable and workforce units, which are connected by a skybridge to the City of Oakland Park’s new City Hall, alongside roughly 15,000 square feet of ground-floor retail space. The site is within an opportunity zone approximately three miles north of downtown Fort Lauderdale. Jeremy Pino, Livingston Hessam, Carl Passmore, Kyle Miller, David Strange and Keith Melton of Walker & Dunlop arranged the financing via senior construction lenders and debt and equity funds. The financing was underwritten at 80 percent loan-to-cost and is non-recourse through the capital stack, according to Walker & Dunlop. The construction timeline for Sky Building was not disclosed.
ROGERS, ARK. — Atlanta-based SJC Ventures has signed casual American restaurant chain Firebirds Wood Fired Grill to join the tenant roster at Pinnacle Springs, a mixed-use development underway in Rogers. The 80,498-square-foot development will be anchored by Whole Foods Market. Construction at the site, located at the corner of West Seneca Road and South Promenade Boulevard, will begin this spring. Firebirds Wood Fired Grill is tentatively planned to open in the fourth quarter of 2024. Tina Howard of SJC Ventures is leading the leasing assignment for Pinnacle Springs. The developer plans to announce more tenants in the near future. North Carolina-based Firebirds Wood Fired Grill has more than 60 locations across the country, and the Pinnacle Springs location will be its first in Arkansas.
JANESVILLE, WIS. — Chase Properties has acquired Pine Tree Plaza in Janesville, about 70 miles southwest of Milwaukee. The purchase price was undisclosed. The 184,834-square-foot shopping center is home to tenants such as TJ Maxx, HomeGoods, Michaels, Old Navy and Petco. The property was 82 percent leased at the time of sale. Ben Snyder and Zack Bates of Matthews Real Estate Investment Services brokered the transaction, which marks Chase’s sixth acquisition within its Chase Properties Retail Opportunities Fund IV. Chase is an Ohio-based owner and operator of shopping centers.
LIBERTY, MO. — Marcus & Millichap has brokered the $1.9 million sale of a 10,963-square-foot retail building in Liberty, a northern suburb of Kansas City. The two-tenant property at 8500-8504 N. Church Road is home to Hallmark and a salon. Dustin Javitch, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a limited liability company. David Saverin assisted in closing the transaction as the Missouri broker of record. A local buyer purchased the asset.