GREENVILLE, S.C. — Cabela’s Inc., an outdoor sporting retailer based in Sidney, Neb., will open a 100,000-square-foot store in spring 2014 at Menin Development’s Magnolia Park in Greenville. It will be the first Cabela’s store in South Carolina. The building’s exterior will include log construction, stonework, wood siding, metal roofing and a large glass storefront. Magnolia Park, formerly the Greenville Mall, consists of more than 500,000 square feet of retail and entertainment space on 85 acres. Tenants include Costco, Regal Cinemas, Rooms to Go, Old Navy, Bed Bath & Beyond and Toys “R” Us/Babies “R” Us. Currently, Cabela’s operates 40 stores across the United States and Canada.
MIAMI — A 24,894-square-foot Office Depot near Miami International Airport has sold for approximately $6.6 million. Scott Sandelin of Marcus & Millichap’s Miami office represented the seller, a New York-based real estate investment trust, and the buyer, a limited liability company based in Canada. The Office Depot store is strategically located at the entrance of the Miami International Airport at 3600 LeJeune Rd. in Miami.
FORT WAYNE, IND. — NAI Harding Dahm has arranged the sale of four shopping centers in northern Indiana for a combined total of $6.7 million. The centers, located in Fort Wayne, Portland and Auburn, Ind., total 164,050 square feet. The properties include: Pine Wally Crossing and Jefferson Center; both neighborhood centers in Fort Wayne; Auburn Cord Plaza in Auburn; and Portland Commons in Portland. The shopping centers were sold to a local Indian investment group. NAI Harding Dahm was the leasing agent for all properties.
HARRISBURG, PA. — Pennsylvania Real Estate Investment Trust (PREIT) has closed on its purchase of Paxton Towne Centre, a power center in Harrisburg, for $76.8 million. PREIT developed the center in 2001 for approximately $55 million. The 717,000-square-foot property is anchored by Target, Costco, Kohl's and Weis Markets.
SCARSDALE, N.Y. — NorthMarq Capital has arranged a $32 million loan for the refinancing of Midway Shopping Center, a 246,981-square-foot retail property at 1001 Central Park Ave. in Scarsdale. Major tenants at the site include Shop Rite, CVS/pharmacy, Jo-Ann Fabrics, The Dress Barn and Planet Fitness. Doug Austin of NorthMarq arranged the 15-year loan through a life company lender.
SPRING, TEXAS — RCG Ventures Fund II has sold a 45,222-square-foot retail property, located in Cypresswood Court in Spring. The property's tenants include Best Buy and Mattress Firm. Other tenants in Cypresswood Court include Target, Petco and Staples.
TORRANCE, CALIF. – Hawthorne Promenade, a 7,440-square-foot retail property in Torrance, has sold to Ron B. Tucker for $5 million. It is located at 20016 Hawthorne Blvd. The property is fully occupied by tenants like Trader Joe’s, Ross, Marshalls, Party City, Sears Outlet, David’s Bridal, Payless Shoes, Babies-R-Us, Office Depot and In-N-Out Burger. The seller, Hawthorne Promenade LLC, a subsidiary of Arenda Capital Management, LLC, was represented by Peter J. LundandScott Craneof NAI Capital’s West Los Angeles office.
ASHBURN, VA. — The Fresh Market will open a new location in Ashburn. The 23,000-square-foot specialty grocery store is set to break ground this month and will open this fall. This will be the first location for the specialty grocer in Loudoun County, Va. It will be located within One Loudoun, a 358-acre master-planned community featuring 1,040 homes and 702,000 square feet of retail space including fine dining and upscale shopping. One Loudoun Downtown LLC, a joint venture between Miller and Smith and North America Sekisui House LLC, is developing One Loudoun.
OAK BROOK, ILL. — Inland Real Estate Acquisitions and IREIT Business Manager & Advisor, on behalf of Inland American Real Estate Trust, have acquired retail assets in four states totaling $25.5 million. The properties include: Newington Fair, a 186,205-square-foot shopping center located in Newington, Conn., purchased for $17.2 million; and a portfolio of seven Dollar General stores, totaling approximately 63,000 square feet, located in Alabama, Georgia and Tennessee, purchased for $8.3 million. Lou Quilici, senior vice president of IREIT Business Manager & Advisor, facilitated the acquisition of Newington Fair. Joe Cosenza, president of Oak Brook-based Inland Real Estate Acquisitions, facilitated the purchase of the Dollar General stores.
RAYMORE, MO. — Sam’s Club has broken ground on a 136,085-square-foot grocery store at Raymore Galleria shopping center in Raymore just south of Kansas City. The store is scheduled to open this October. Sam’s Club is the newest tenant to the 400,000-square-foot shopping center located at Highway 58 and Dean Avenue. Kansas City-based Block & Co. Inc. is construction manager for the project.