SAUKVILLE, WIS. — Barry Geller Mortgage & Investments has sold a 59,000-square-foot retail building occupied by Pick’n Save in Saukville for $6.5 million. The buyer is Fairfield, N.J.-based Executive Capital Group. The triple-net-lease store is located at 810 E. Green Bay Ave. in Saukville. The Milwaukee-based Redmond Co. completed construction of the store in 2004.
BOSTON — EagleBridge Capital has arranged a $6.24 million mortgage loan for the Verizon Wireless facility in Boston. The 56,870-square-foot facility is net leased to Verizon, which has been a tenant at 173 Boston St. for more than 38 years. The property includes a mix of office and service space including a carport and warehouse building. Ted Sidel and Brian Sheehan of locally based EagleBridge arranged the mortgage financing.
CHICAGO — Inland Real Estate Corp. has signed Old Time Pottery to a lease for a 78,271-square-foot store at the Mosaic Crossing shopping center in West Chicago. The store, which is expected to open this summer, will be the retailer’s third location in metro Chicago. The Mosaic Crossing shopping center is located at the intersection of Route 64 and 59 and is anchored by Dollar Tree and Hobby Lobby. Old Time Pottery is leasing 100 percent of Inland’s stake in Mosaic Crossing.
NEW YORK CITY — 130 Seventh Avenue South, a vacant single-story retail building, has sold for $6.1 million in New York City. The building, which is located at the corner of Seventh Avenue and West 10th St., was previously occupied by Veranda, a Mediterranean restaurant. Keystone Group purchased the property and plans to develop a high-end, mixed-use building on this site. Besen & Associates represented the buyer and seller in the deal.
FRISCO, TEXAS — Marcus & Millichap has arranged the $4.7 million sale of a 12,969-square-foot CVS/pharmacy in Frisco. Dan Yozwiak, Antoine Matthews, John Reehil, Dean Zang and Mark Taylor of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Tim Speck of Marcus & Millichap also assisted in the sale.
BOOTHWYN, PA. — Marcus & Millichap has arranged the acquisition of Chichester Square, a 29,025-square-foot retail property, for $4.1 million. The shopping center, which is located along Chichester Avenue in Boothwyn, was 83 percent occupied. Dean Zang and Mark Taylor of Marcus & Millichap represented the seller, a partnership of RPC Real Estate, and the buyer, an affiliate of Westport, Conn.-based Paragon Realty Group LLC.
Scotch Plains, N.J. — Covington Realty Partners has acquired an Advance Auto Parts building for $2.9 million. The 6,240-square-foot retail building is located at 445 Terrill Road in Scotch Plains, about 25 miles west of Staten Island, N.Y. Lew Finkelstein and CJ Huter of The Goldstein Group represented the seller, RGK Development Inc., in this deal.
TRACY CALIF. – The Tracy Pavilion Shopping Center has sold to Excel Trust for $32 million. The 404,721-square-footcommunity shopping center is located on Naglee Road in Tracy, which is just east of San Francisco. The center is anchored by Home Depot, WinCo, Marshalls, Ross Dress for Less, PetsMart and Staples. Home Depot and WinCo are both tenant-owned and were not part of the sale. Ulta, Anna’s Linens, Chase Bank, Rubio’s, Panda Express, Starbucks, Supercuts, UPS and Subway also reside at the center. Lucescu Realty represented both the buyer and the multiple selling entities in this transaction. Tracy Pavilion was developed by affiliates of Kornwasser Shopping Center Properties in 2002.
MONTECITO, CALIF. – A 13,778-square-foot retail property in Montecito has sold to a local investor for $10.2 million. The property is located at 1046-1054 Coast Village Road. The fully leased center boasts a tenant roster that includes Starbucks, Von’s Pharmacy, Blenders In the Glass, Boutique Antoinette and Occhiali Fine Eyewear. The buyer was represented by Austin Herlihy and Steve Brown of Radius Group. The private seller was represented by Clarice Clarke of Lee & Associates – Central Coast.
CHARLESTON, KY. — Kroger Limited Partnership of Cincinnati has acquired Ashton Place Shopping Center, a 76,947-square-foot, Kroger-anchored center in Charleston. The property, located at 1100 Fledderjohn Road, is fully occupied. Kevin Fryman of Hanley Investment Group Real Estate Advisors represented the seller, a private investor based in Tennessee, in the transaction.
