SWANSEA, ILL. — BARBERMurphy Group has arranged the sale of a retail and office property, located at 1704 N. Belt West in Swansea, located about 17 miles southeast of St. Louis, Mo. Welzbacher Land Trust sold the 6,012-square-foot property to JHK LLC for an undisclosed price. BARBERMurphy Group represented the seller in the transaction.
COLUMBUS, OHIO — The Cooper Commercial Investment Group has brokered the sale of Bethel Plaza, a 12,516-square-foot retail center located in Columbus. The property sold for $1.6 million, representing an 8.38 percent capitalization rate, or the annual return to the buyer based on the purchase price and the asset’s current net operating income. Anchored by Papa John’s, the center is 100 percent occupied by a variety of tenants. Dan Cooper of Cooper Commercial represented the seller, a private investment group, and the local buyer in the transaction.
CHICAGO — Marcus & Millichap has brokered the sale of a retail property located at 6422 W. Archer Ave. in Chicago. The 8,100-square-foot property sold for $7.5 million. The property is net leased to MB Financial Bank. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, an individual/personal trust, while Steven Siegel, also of Marcus & Millichap, represented the buyer, a limited liability company.
DALLAS — RAA Investments Inc. has sold a commercial property fronting West Lovers Lane to a local investor in an all-cash transaction. The existing business, Foster Cleaners, will close at the end of this month. The structure, totaling 5,100 square feet, sits on nearly 0.3 acres at 4931 W. Lovers Lane in Dallas. MSM Trust was the buyer. The property is located directly across the street from Providence Christian School of Texas and close to Love Field, Inwood Village and the Pavilion on Lovers Lane.
SEATTLE — Retail Properties of America (RPA) has acquired Woodinville Plaza, a 171,000-square-foot shopping center near Redmond, for $35.3 million. The center is located at 14001 – 14235 NE Woodinville Duvall Road in Woodinville, on the eastside of the Puget Sound region. Woodinville Plaza was 91 percent occupied at the time of closing. It is anchored by County Market, a SuperValu concept. Other notable tenants include T.J. Maxx and Rite Aid.
RIDGECREST, CALIF. – Ridgecrest Town Center, a 204,709-square-foot community center northeast of Bakersfield, has sold to El Rey Properties for $5.8 million. The center is located at the corner of North China Lake Boulevard and Drummond Avenue. It is fully leased to Jo-Ann Fabrics & Crafts, Marshalls, and DSS Shoes. The seller was China Lake 700 LLC. The buyer was represented by Steve Heri and Steve Gim of NAI Capital.
SACRAMENTO, CALIF. – Riverpoint Marketplace in west Sacramento has sold to Excel Trust for an undisclosed sum. The power center is anchored by Ikea, Walmart Supercenter, Home Depot, Petco and Ross. John DuBois, Mark Denholm and Jon Gianulias of Core Commercial represented both the buyer and seller, Buzz Oates Group of Cos., in this transaction.
NEW YORK CITY — Eastern Consolidated has brokered the sale of a 67,000-square-foot mixed-use property at 135-145 W. Kingsbridge Road in the Bronx’s Kingsbridge Heights section. The asset sold for $14.7 million, or $220 per square foot. The six-story walk-up building features 10 fully occupied retail stores and 57 apartments. Adelaide Polsinelli of Eastern Consolidated represented the seller, and Ronda Rogovin of Eastern Consolidated represented the buyer in the transaction. The names of the buyer and seller were not released.
MEDFORD, N.Y. — A 10,000-square-foot Dollar Tree location has opened at Medford Plaza in Medford. Additional tenants at the retail center include Island Recreation, Edible Arrangements, Brick House Cardio, Medford Pastaria and Dunkin’ Donuts. Vintage Vapors is also slated to join the roster. Robert Delavale of Garden City, N.Y.-based Breslin Realty represented the undisclosed landlord in the transaction.
JOLIET, ILL. — Cohen Financial has arranged $12.5 million in refinancing for Hillcrest Shopping Center, a 246,000-square-foot grocery-anchored retail center in Joliet. A 65,000-square-foot Food4Less anchors the center. Other tenants include Dollar Tree, Payless Shoes, Harbor Freight Tools, T-Mobile and Subway. Don C. Trossman of Cohen arranged the fixed-rate, 10-year loan on a 25-year amortization schedule with a correspondent life insurance company. Joliet-Hillcrest LLC was the borrower in the transaction.