NEW YORK CITY — Cushman & Wakefield has brokered the $13.5 million sale of a three-story retail building in Midtown, Manhattan. John Ciraulo, Craig Waggner, Doug Blankrot and Lou Magarelli of Cushman & Wakefield represented the seller, who was undisclosed, in the transaction. The buyer was also undisclosed. Located at 976 Avenue of the Americas, the property is fully leased to a tenant roster that includes 5 Boro Burger and Red Rocket Tattoo.
WASHINGTON, D.C. — Aria Development Group has purchased a land parcel located at the corner of Florida Avenue and North Capitol Street N.E. in Washington, D.C., for an undisclosed price. The buyer is planning to develop a mixed-use building, including residential space, on the 25,000-square-foot site. The purchase represents the culmination of three years of assemblage activity to connect tree-lined P Street N.E. with Florida Avenue and North Capitol Street. Additional details of the transaction were not released. This acquisition represents Aria’s eighth multifamily or mixed-use investment in Washington, D.C.
FORT MYERS, FLA. — The Shopping Center Group has brokered the sale of Pelican Preserve, a grocery-anchored neighborhood center in Fort Myers. An affiliate of Baltimore-based Continental Real Estate purchased the property from an institutional seller for $12.2 million. Completed in 2007 and situated on 18.4 acres, Pelican Preserve features 69,500 square feet of retail space. At the time of sale, the property was 95.7 percent leased to a variety of tenants, including Winn-Dixie, H&R Block, Pizza Hut, Suncoast Credit Union and Great Expressions. Also included in the transaction is a city-approved plan for a second phase of the shopping center. Ready for immediate development, the plan includes two outparcels that can accommodate nearly 35,000 square feet of retail and restaurant space. Anthony Blanco and Lynn De Marco led The Shopping Center Group team that represented the seller in the deal.
SANTA MARIA, CALIF. — Goldman Sachs has completed the sale of Santa Maria Town Center, a regional mall located at 100 Town Center East in Santa Maria. A global insurance company acquired the property for an undisclosed price. Built in 1976 and situated on 6.11 acres, the mall features 331,804 square feet of retail space. Tenants include Edwards Theatres RPX Digital Cinema. The Sears and Macy’s at the site were not part of the sale. Philip Voorhees, Jimmy Slusher, George Good, James Tyrrell of CBRE’s National Retail Partners-West represented the seller in the deal.
PHOENIX — Scottsdale, Ariz.-based LevRose Commercial Real Estate has negotiated the sale of Sonoran Desert Village, a retail center located at 2805-2815 W. Carefree Highway in Phoenix. An undisclosed seller sold the property for $5.1 million, or $370 per square foot. The property features 13,760 square feet of retail space and ample parking. Mark Cassell and Trenton McCullough of LevRose Commercial represented the seller in the transaction.
DENVER AND WHEAT RIDGE, COLO. — NAI Shames Makovsky has arranged the sales of two retail properties located in metro Denver totaling $4.5 million. In the first transaction, Second and Broadway LLC sold a 4,821-square-foot property located at 141 Broadway in Denver. KRF Post LLC acquired the property for $3 million. Sandy Feld and Jake Malman of NAI Shames Makovksy represented both parties in the deal. In the second transaction, All Sacred Holdings LLC purchased a 7,205-square-foot property at 7700 W. 44th Ave. in Wheat Ridge. Patrick Nichols Associates LLC sold the property for $1.5 million. Todd Silverman and Paul Cattin of NAI Shames Makovsky represented the seller in the deal.
SUGAR GROVE, ILL. — The Boulder Group has arranged the $10.9 million sale of a single-tenant property net leased to Jewel-Osco in Sugar Grove, a western suburb of Chicago. The 61,301-square-foot building is located on 7.9 acres at 465 N. Illinois Route 47. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private real estate investment company based in the Southwest. A California-based private investor was the buyer.
TAMPA, FLA. — Colliers International has brokered the $55 million sale of 10 single-tenant retail properties in Florida and Georgia that are net-leased to Walgreens. Mike Milano, Sean Glickman, Donald Jennewein, Nathan Lynch and Tara Paronto of Colliers arranged the transaction on behalf of the seller, Olympia Development Group. A California-based real estate investment company acquired six of the locations, while private investors purchased the other four locations as part of a 1031 exchange. The sales prices ranged from $2.7 million to $8.2 million. Two of the Walgreens stores are located in Naples, and the other Florida locations are in Sarasota, Temple Terrace, Bradenton, Merritt Island, Seminole, Dunedin and Oldsmar. The one Georgia property is located in Lawrenceville. Each building ranges between 15,000 and 17,000 square feet.
MARYVILLE, TENN. — Hutton has opened the redeveloped Maryille Commons, a 69,540-square-foot shopping center in Maryville, about 18 miles south of Knoxville. The Chattanooga-based developer originally acquired the former Kroger-anchored shopping center last year, and began construction on the redevelopment in November. As part of the project, Hutton redeveloped the previously freestanding Kroger and constructed an additional 11,130-square-foot expansion. Maryville Commons is now home to tenants such as HomeGoods, Ulta Beauty, Five Below, Kirkland’s, Rack Room Shoes and Chicken Salad Chick. In addition, the center is located adjacent to Target, which remodeled its store in July.
OWINGS MILLS, MD. — Kimco Realty Corp. has inked a 66,450-square-foot lease with Giant Food at Mill Station, a $108 million project located at the site of the former Owings Mills Mall in Owings Mills, about 18 miles northwest of Baltimore. The grocer will join previously announced tenants including Lowe’s Home Improvement, Marshalls, HomeSense, Burlington, Five Below, AMC Theatres and Costco, which is scheduled to open next month. With the addition of Giant Food, the 621,000-square-foot center is roughly 90 percent leased. Upon completion, Mill Station will house up to 30 tenants and feature green space, a courtyard and walkways connecting to existing office and retail space.
