PLOVER, WIS. — Marcus & Millichap has arranged the $6.1 million sale of a 47,217-square-foot retail property in Plover, a city in central Wisconsin. Adam Connor, an investment specialist in Marcus & Millichap’s Milwaukee office, marketed the property on behalf of the seller, a developer, and represented the buyer, a REIT. TJ Maxx, Staples and Maurices occupy the property located at 1240 Commons Circle.
HAZLET, N.J. — Marcus & Millichap has arranged the sale of a14,500-square-foot retail property in Hazlet, located about 30 miles south of Newark. CVS/pharmacy and Best Buy Liquors occupy the property, which is located at 14 Route 36. Ben Sgambati, a vice president of investment, and Alan Cafiero, a senior associate in Marcus & Millichap’s New Jersey office, marketed the property on behalf of the seller, a private investor. Robin David, an investment specialist in Marcus & Millichap’s New Jersey office, represented the buyer, a developer.
DALLAS — HFF has brokered the sale of Preston Center Pavilion and Square, a 230,842-square-foot shopping center in the Park Cities neighborhood of Dallas. The property, which was redeveloped in 2000, is in proximity to the interchange of Northwest Highway, Preston Road and the Dallas North Tollway. Tenants include DSW Shoe Warehouse, Marshalls, Gold's Gym, CVS Pharmacy, Office Depot and Chipotle. The HFF team of Barry Brown, Jim Batjer, Doug Hazelbaker and Ryan Shore represented the seller, US Commercial LLC, and also procured the buyer, a real estate fund advised by Crow Holdings Capital Partners LLC. The transaction involved the assumption of the existing CMBS mortgage.
ATLANTA — Franklin Street Real Estate Services has arranged the sale of a new freestanding Family Dollar in southwest Atlanta in an all-cash, 1031 tax-deferred exchange. Family Dollar has a new 10-year lease at the store, located at 5403 Old National Highway three miles from Hartsfield Jackson Airport. Mac McCall and Bryan Belk of Franklin Street represented the seller, a local developer, in the transaction. The buyer is based in California.
GRETNA, NEB. — Developer OTB Destination LLC has completed the 350,000-square-foot Nebraska Crossing Outlets in Gretna. The $112 million project is situated 20 miles southwest of Omaha at the intersection of I-80, Highway 6 and Highway 31. The development features more than 70 tenants, including Eddie Bauer Outlet, Nike Factory Store, Polo Ralph Lauren Factory Store, Tommy Bahama, Cole Haan Outlet, J.Crew Outlet and Coach Factory Store. Nebraska Crossing Outlets also includes a center courtyard and additional public spaces. The design is a modern interpretation of rural Nebraskan architecture, according to Cleveland-based ka, which provided planning and design services for the project. The company collaborated with Avant Architects of Omaha. Nebraska Crossing Outlets celebrated its grand opening in November.
ST. JOHN, MEADE AND COLDWATER, KAN. — The Boulder Group has completed the $2 million sale of a three-property portfolio leased to Dollar General in Kansas. The single-tenant properties, which average 9,036 square feet, are located in St. John, Meade and Coldwater. Dollar General has 5.5 to 6.5 years of lease term remaining at the properties. Each of the leases features three five-year renewal option periods with 10 percent escalations. Two of the properties were constructed in 2009, while the other was built in 2010. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private real estate investor. The buyer was a private individual.
BERLIN, VT. — Construction has begun on an 18,700-square-foot expansion of a Walmart store within the Berlin Mall in Berlin, a city in northern Vermont. The project will also include renovating 7,500 square feet of existing stores in the mall. Walmart plans to use the extra space to expand its grocery products and general merchandise. After the expansion, Walmart is expected to hire 72 additional employees to supplement its current workforce of 144 employees. DEW Construction Corp. of Williston, Vt., is serving as the general contractor. Lerner-Heidenberg Associates acquired the mall in 2010.
HOUSTON — Coldwell Banker Commercial United Realtors (CBCUR) has brokered the sale of Emerald Plaza, a 20,165-square-foot retail property in Houston. Located at 11509 Veterans Memorial Parkway, the community center was constructed in 2002. Mark McGinley of CBCUR represented the undisclosed seller in the transaction. James Lee of Gulf South Investment LLC represented the buyer, Whole Win LLC.
ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Green Oaks Village, a 16,490-square foot retail property in Arlington. Constructed in 2003, the strip shopping center was 94 percent occupied at the time of the sale. The property, located at 3851 Southwest Green Oaks Blvd., offers close proximity to Park Springs Boulevard. Ron Hebert and Blake Burnett of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company, and also procured the buyer, an out-of-state individual investor.
TUCSON, ARIZ. — Floor & Decor has leased 58,205 square feet at ABC Retail Center in Tucson. The center is located at 7125 E. Broadway Blvd. ABC was represented by CBRE’s Nancy McClure and Jeff Kittleson. The landlord, ABC Broadway/Kolb Center LLC, represented itself in this transaction.
