NEW WINDSOR, N.Y. — Island Associates has arranged the acquisition of a retail property located at 170 Windsor Highway in New Windsor. An undisclosed buyer purchased the property for $5.7 million. Situated on 2.9 acres, the 7,254-square-foot property is net-leased to QuickChek and features 10 gas dispensers and a drive-thru car wash. Roger Delisle of Island Associates represented the buyer, while Matthew Gorman of CBRE represented the undisclosed seller in the deal.
SOUTH KINGSTOWN, R.I. — Sweeney Real Estate & Appraisal has arranged the sale of a retail property located at 84 Old Tower Hill Road in South Kingstown. BCP Capital Properties acquired the 4.97-acre site for $2.1 million. The site includes a 10,804-square-foot building. The buyer plans to redevelop the property into a retail and self-storage facility. Thomas Sweeney and Kevin Casey of Sweeney Real Estate & Appraisal brokered the transaction. The name of the seller was not released.
NEW BEDFORD, MASS. — An entity operated by Charterhouse Development Corp. has purchased a retail property located at 2100 Acushnet Ave. in New Bedford. HRES Acushnet sold the property for $1.9 million. CVS/pharmacy occupies the property.
LONG BEACH, CALIF. — Marcus & Millichap has facilitated the sale of a retail property located at 4411 Pacific Coast Highway in Long Beach. A partnership sold the property to an individual/personal trust for $6.6 million. Wells Fargo Bank occupies the 3,479-square-foot property under a 10-year, triple-net lease with five five-year options to renew. Kevin Boeve of Marcus & Millichap represented the seller, while Neema Ahadian, also of Marcus & Milichap, represented the buyer in the transaction.
VICTORVILLE AND HESPERIA, CALIF. — Progressive Real Estate Partners has arranged the sales of two parcels of land to Circle K and Chevron for a combined total of $4.7 million. Pablo Velasco of Progressive Real Estate Partners represented the sellers in both transactions. In the first deal, Circle K acquired a 3-acre land parcel, located at 15 Freeway and Nisqualli Road in Victorville, for $2.8 million. Circle K plans to build a convenience store, gas station and car wash on the site. The development is slated to open in mid-2018. In the second transaction, Chevron purchased a 1.2-acre land parcel, located at 15 Freeway and Ranchero Road in Hesperia, for $1.9 million. Projected to open in mid-2018, the development will feature a convenience store and car wash.
REDONDO BEACH, CALIF. — CBRE has arranged the sale of a retail property located at 2525 Artesia Blvd. in Redondo Beach. El Indio Property LLC sold the property to MattKarr Properties LLC for $4.2 million. A drive-through Coffee Bean & Tea Leaf, which signed a 15-year lease in 2017, occupies the property. Alex Kozakov and Patrick Wade of CBRE represented the seller, while Sanjo Investments represented the buyer in the deal.
NEWPORT BEACH, CALIF. — Newmark Knight Frank has added Daniel Samulski as a senior managing director with the firm’s Newport Beach office. Samulski has almost two decades of retail expertise in Southern California. Previously, he served as a senior vice president at CBRE.
ORLANDO, FLA. — Unicorp National Developments Inc. has unveiled plans for O-Town West, a $1 billion mixed-use development located at the corner of Palm Parkway and Daryl Carter Parkway in Orlando. The development will feature retail, restaurants, upscale apartments, a 600-car garage and a water show in the style of The Fountains of Bellagio in Las Vegas. The retail portion of the 82-acre development will be housed in two segments: the Village at O-Town West and the Boardwalk at O-Town West, according to reports by Orlando Weekly. The Village will feature retailers offering everyday necessities, including a national grocery store. The Boardwalk will offer new-to-market restaurants and retail. A 15,000-unit multifamily community is also planned for the development, alongside 300 to 400 homes, all of which will overlook a recreational lagoon by Miami-based Crystal Lagoons. Groundbreaking is slated for early 2019, with a grand opening projected for summer 2020, Orlando Weekly reports. Unicorp has developed over $2.5 billion worth of commercial and residential real estate, with a focus on retail, mixed-use centers, multifamily and master-planned communities. The company recently developed I-Drive 360 in Orlando, a mixed-use development featuring an observation wheel known as the Coca-Cola Orlando Eye. A $100 million Phase II is currently …
ARLINGTON, TEXAS — CBRE has brokered the sale of Seville Commons, a 113,742-square-foot, Class A retail center in Arlington. Anchored by Walmart Neighborhood Market, the property was 95 percent leased at the time of sale to tenants such as Chase Bank, Sprint, Subway and GNC. Chris Gerard, Chris Cozby and Blaine Dozier of CBRE represented the undisclosed seller in the transaction. Cincinnati-based Phillips Edison, a REIT specializing in grocery-anchored assets, purchased the center for an undisclosed price.
KILLEEN, TEXAS —Fitness chain Crunch Fitness will open a 27,587-square-foot gym at Wendland Plaza, a 205,224-square-foot shopping center located in Killeen, about 70 miles north of Austin. The lease brings the occupancy rate of the property, which also houses tenants such as Conn’s HomePlus, Altitude Trampoline Park and Lumber Liquidators, to 98 percent. Grant Gary and Dan Rebensdorf of The Woodmont Co. represented the landlord, Killeen ATM LLC, in the lease negotiations.
