OREGON, OHIO — Reichle Klein Group has negotiated the $1.4 million sale of a Dollar General-occupied property in Oregon, a suburb of Toledo. Completed in October 2018, the 9,100-square-foot building is located at 2450 Woodville Road. Christian Zaciewski of Reichle Klein represented the seller, Linden Avenue LLC. Net Realty Advisors represented the buyer, California-based Frank Living Trust.
HUNTSVILLE, ALA. — Big V Property Group has acquired Westside Centre, a 655,638-square-foot shopping center in Huntsville, for $35.9 million. The property was 74 percent leased at the time of the sale to tenants including Big Lots, Stein Mart, Tuesday Morning, PetSmart, Ross Dress for Less, Shoe Carnival and Party City. Super Target shadow anchors the center. Westside Centre is situated at 6275 University Drive NW, adjacent to the 4,000-acre Cummings Research Park and six miles west of downtown Huntsville. The seller was not disclosed.
LAWRENCEVILLE, N.J. — Marcus & Millichap has arranged the sale of Princeton Plaza, a 29,600-square-foot retail center in Lawrenceville, located roughly midway between New York City and Philadelphia. The asset, which was fully occupied at the time of sale, fetched a sales price of $2.9 million. Shannon Bona led the Marcus & Millichap team in marketing the property on behalf of the seller, a private investor, with help from Mark Taylor and Derrick Dougherty of Marcus & Millichap. Brian Hosey of Marcus & Millichap acted as the broker of record. Additional terms of the sale were not disclosed.
MUSKEGON, MICH. — RD Management LLC has unveiled plans to redevelop Muskegon Shopping Center located at 3530 Henry St. in western Michigan. The project will include removal of the 134,874-square-foot building formerly occupied by Kmart, renovation of the 32,338 square feet of adjacent retail space and the construction of five residential buildings totaling 126 units. Demolition of the Kmart building will begin in late spring. In addition, Mercy Health has agreed to purchase a 6.2-acre parcel of the shopping center in order to construct a new 40,900-square-foot medical office building that will include urgent care, physical therapy, research laboratories, doctor’s offices and a pharmacy.
CHICAGO — Animal hospital operator GoodVets has opened two new full-service facilities in Chicagoland. GoodVets Southland is a 3,000-square-foot facility located at 18355 S. Halsted St. in Glenwood. GoodVets West Loop is a 4,500-square-foot facility located at 901 W. Jackson Blvd. in the West Loop neighborhood. The company had previously opened a location in the Streeterville neighborhood.
WESLEY CHAPEL, FLA. — Hutton, a real estate development and investment firm based in Chattanooga, has opened Cypress Creek Town Shopping Center, a 190,000-square-foot shopping center located in Wesley Chapel, 20 miles north of downtown Tampa. Earth Fare anchors the center, which is the latest phase of Cypress Creek Town Center. Other tenants in the new shopping center include Burlington, Hobby Lobby, Five Below, Dollar Tree and HomeGoods. Remaining tenants are scheduled to open in late spring. Chattanooga, Tenn.-based Hutton has completed three previous developments at Cypress Creek Town Center, including a 26,000-square-foot, multi-tenant development leased to retailers such as Mellow Mushroom and Men’s Wearhouse; an adjacent 8,000-square-foot Chuy’s; and a 16,000-square-foot multi-tenant building that includes Blaze Pizza, Chipotle Mexican Grill, Verizon Wireless and Sleep Number.
GAINESVILLE, FLA. — Celebration Pointe developers have signed a lease to bring in The Keys, a fresh seafood restaurant and entertainment venue. The Keys is locally owned by Tony Espetia, a real estate professional with Coldwell Banker M. M. Parrish Realtors and former owner of Rum Runners and Fat Tuesday in Gainesville; Brad Heron, the current owner of Rockeys Dueling Piano Bar; and Diego Ibanez, who has more than 25 years of restaurant experience and is the co-owner of Emiliano’s Café, a longtime family-owned restaurant that started as a bakery in the early 1980s. The Keys will serve freshly caught seafood and feature dueling pianos. The Keys, which has a double meaning playing off both the Florida Keys and piano keys, is expected to open this summer. Celebration Pointe is a 160-acre mixed-use development that will span more than 1 million square feet and will include office and retail space, residential units and a mix of experiential and entertainment venues.
WATCHUNG, N.J. — Cinemark Holdings Inc. (NYSE: CNK) has opened a 10-screen theater at 1670 Route 22 East in Watchung, N.J., located about 30 miles west of New York City. The theater will feature wall-to-wall screens, oversized recliners, reserved seating services and a party room for private events. The venue will be the third in the state for Cinemark, which currently operates 546 theaters across 41 states and various Latin American countries.
SALINE, MICH. — Marcus & Millichap has brokered the $2.9 million sale of a property net leased to Tractor Supply in Saline, about 10 miles south of Ann Arbor. The 18,104-square-foot building is located at 111 Sage Court. Tractor Supply has operated at the property for 18 years. Brett Winger and Dominic Sulo of Marcus & Millichap brokered the sale. Steve Chaben assisted on the transaction as the broker of record.
NAPERVILLE, ILL. — Higher Grounds Education has purchased a 9,897-square-foot building to open a Montessori school in Naperville. The purchase price was not disclosed. The property, situated on one acre at 5051 Ace Lane, formerly served as an Alder School daycare facility. Linda Kost and Dave Schmidt of Realty Metrix Commercial represented the seller, DBJ Corp. Higher Grounds plans to renovate the property and reopen the facility late this summer. Higher Grounds is a Montessori education program for children from birth to adolescence.
