Retail

Kennedy Wilson Arranges $1.3M Sale of Retail Property in New Braunfels

by Danielle Everson November 19, 2014

NEW BRAUNFELS, TEXAS — Kennedy Wilson has arranged the sale of a 6,000-square-foot retail building in New Braunfels, 15 miles north of San Antonio, for $1.3 million. The property is located at 490 S. Business IH-35 and is fully leased to Advance Auto Plus, a provider of aftermarket automotive parts. Ernest Brown and Jorge Rodriguez of Kennedy Wilson’s San Antonio office represented the unnamed buyer. John Heeren of SMPO Real Estate LLC represented the seller, Mitchell Leigh Potash, trustee of the Mitchell Leigh Potash Dynasty Trust. Retailers located near the property include Sears, Hobby Lobby, CVS Pharmacy and Domino’s Pizza.

November 19, 2014

Salt Pond Shopping Center Sells for $39.2M in Rhode Island

by Amy Works November 19, 2014

NARRAGANSETT, R.I. — A subsidiary of Dividend Capital Diversified Property Fund Inc. has purchased Salt Pond Shopping Center for $39.2 million. Located at 91 Point Judith Road in Narragansett, the property is occupied by Stop & Shop, Marshalls/HomeGoods, Sports Authority, West Marine and Dollar Tree. Chris Angelone, Bill Moylan, Nat Heald and Bruce Lusa of CBRE/NE represented the undisclosed seller and the buyer in the transaction.

November 19, 2014

Multifamily New York Northeast Retail

Rosewood Realty Brokers Sale of Four-Building Portfolio in Brooklyn for $24.1M

by Amy Works November 19, 2014

NEW YORK CITY — Rosewood Realty Group has arranged the sale of a four-building portfolio in Brooklyn. A long-term investor purchased the assets for $24.1 million from a local seller. The portfolio includes 256 E. 37th St., 2902 Cortelyou Road, 3613 Avenue D and 414 East 34th St. The portfolio features 164 apartment units and six commercial units. David Berger of Rosewood Realty represented the buyer, while Aaron Jungreis, also of Rosewood, represented the seller in the transaction.

November 19, 2014

Retail Southeast Tennessee

Landmark Brokers $22.8M Sale of Shopping Center in Tennessee

by John Nelson November 19, 2014

HIXSON, TENN. — Landmark Commercial Real Estate Services Inc.’s investment sales group has brokered the $22.8 million sale of Oak Park Town Center, a 178,384-square-foot shopping center in Hixson. The property’s tenant roster includes Marshalls, Gander Mountain, Burke’s, Office Depot, Petco and Shoe Carnival. A Walmart Supercenter shadow anchors the property. Kevin Baker and Daniel Kukes of Landmark Commercial Real Estate Services represented the buyer, a non-traded REIT, and the seller, a private developer based locally.

November 19, 2014

Georgia Retail Southeast

Crossman & Co. Brokers $8.8M Sale of Publix-Anchored Center

by John Nelson November 19, 2014

HOSCHTON, GA. — Crossman & Co. has brokered the $8.8 million sale of West Jackson Crossing, a Publix-anchored shopping center in Hoschton. The 68,649-square-foot center’s tenant roster includes Verizon Wireless, Pizza Hut and Great Clips. John Zielinski and Mark Thompson of Crossman & Co. represented the undisclosed seller in the transaction.

November 19, 2014

Midwest Minnesota Restaurant Retail

M&M Arranges $2.1M Sale of 2,112 SF Taco Bell Property

by Danielle Everson November 18, 2014

EAGAN, MINN. — Marcus & Millichap has arranged the sale of a 2,112-square-foot Taco Bell, net-leased property in Eagan. The property is located at 2000 Cliff Road. Border Foods Inc. guaranteed the lease. The property is an outparcel for Regal Cinemark Movies 16 and is adjacent to a Target Shopping Center and a Cub Foods. Dan Yozwiak and Mark Lovering of Marcus & Millichap’s Columbus office represented the seller, a limited liability company. Joubin Manoocherhi of JNM Investments in Los Angeles, Calif. represented the undisclosed buyer.

November 18, 2014

Maine Massachusetts Northeast Retail

The Boulder Group Brokers $39M Five-Property Walgreens Portfolio Sale

by Amy Works November 18, 2014

CLINTON, MASS., AND BELFAST, MAINE — The Boulder Group has brokered the sale of a Walgreens portfolio of five single-tenant, net-leased properties. The properties sold for $39 million. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer, a Midwest-based institutional investment firm, and the seller, a Midwest-based private partnership, in the transaction. The portfolio is comprised of 720 Main Street, Clinton, Mass.; 32 Main Street, Lakeville, Mass.; 268 Main Street, Belfast, Maine; 1112 Civic Center Drive, Rochester, Minn.; and 1537 Charleston Highway, West Columbia, S.C.

November 18, 2014

Connecticut Northeast Retail

The Geenty Group Brokers Retail Lease in Connecticut

by Amy Works November 18, 2014

OLD SAYBROOK, CONN. — The Geenty Group, Realtors, has brokered a long-term lease at 137 Mill Rock Road in Old Saybrook. Located within The Old Saybrook Business Park, the 5,192-square-foot unit is occupied by Iron House Fitness LLC. Mill Rock Leasing LLC is the landlord. Kevin Geenty of The Geenty Group, Realtors, arranged the transaction.

November 18, 2014

Florida Restaurant Southeast

Marcus & Millichap Brokers $26.5M Sale-Leaseback of Wendy’s Portfolio in South Florida

by John Nelson November 18, 2014

MIAMI — Marcus & Millichap has brokered the $26.5 million sale-leaseback of 12 Wendy’s restaurants in South Florida. Adam Tiktin and Debra Franklin of Marcus & Millichap’s Miami office, along with Philip Rosen of Bloomgarden, Goudreau & Rosen PA, represented the seller, Starboard Group, in the transaction. Todd Cohen, Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the buyer, a Miami-based limited liability company. Farhan Kabani of Mark One Capital arranged a 10-year acquisition loan that amortizes over 30 years on behalf of the buyer. As part of the transaction, Starboard Group signed a new 20-year lease at the restaurants. The 12 Wendy’s restaurants are located at 831 Yamato Road in Boca Raton; 4950 Linton Road in Delray Beach; 15020 Jog Road in Delray Beach; 1197 S. Military Trail in Deerfield Beach; 10050 W. Sample Road in Coral Springs; 4676 N. University Drive in Coral Springs; 6375 W. Sample Road in Coral Springs; 9960 W. Oakland Park Blvd. in Sunrise; 14900 S.W. 31st St. in Miramar; 7560 N.W. 186th St. in Hialeah; 11925 N.W. 27th Place in Miami; and 1515 N.W. 7th St. in Miami.

November 18, 2014

New Mexico Retail Western

At Home Stores Leases 87,915 SF at Market Center Crossing in Albuquerque

by Nellie Day November 18, 2014

ALBUQUERQUE, N. MEX. – At Home Stores has leased 87,915 square feet at Market Center Crossing in Albuquerque. The center is located at the northeast corner of Interstate 40 and Eubank. It is shadow anchored by Target. At Home will be leasing a space previously occupied by Sports Authority and Michael’s. The center is currently undergoing a redevelopment. The landlord is a partnership between Accelerated Development Services and Q Investments.

November 18, 2014

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