CHICAGO — The Boulder Group has arranged the $3.8 million sale of a triple net-leased Bank of America at 3010 S. Kedzie Ave. in Chicago. The 6,500-square-foot building was developed in 2003. The property is fully leased to Bank of America, which has 11 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest developer, in the transaction. The buyer was a high net-worth individual in California.
WAUKESHA, WIS. — Hallmark Gold will occupy the final space at the Shoppes at Fox River development in Waukesha. The addition of the greeting card retailer makes the first phase of the 273,000-square-foot development fully occupied. The shopping center is also home to Target, The Cash Store and Associated Bank. Opus Development Corp. also recently broke ground on the second phase of the project, which is expected to contain 150,000 square feet. The first building in Phase II will include T.J. Maxx, Ulta Salon and Rue 21. The Shoppes at Fox River is a redevelopment of a former Supervalu distribution facility located along Sunset Drive. Opus sold Phase I to Ramco-Gershenson in 2010, but has remained responsible for securing tenancy.
LEWISVILLE — Cosmic Jump Trampoline Entertainment Center will open a 22,900-square-foot location at 1915 S. Stemmons Freeway in Lewisville for its second location in Texas. The facility is a vacant Bassett Furniture store near Valley Ridge Mall. Cosmic Jump will open its doors in mid June. The location will feature private birthday rooms, trampoline dodge ball courts, trampoline basketball courts, parallel-ramped trampolines, X-Box Kinect activity fun zones, fitness boot camps and a full-service snack bar. Eric Vickers of Kim Martin Co. represented the landlord, Lewisville Bassett, in the lease transaction.
BASALT, COLO. — Cohen Financial has provided a $15-million construction loan to develop retail space at Willits Town Center, a multi-use community development in Basalt. The loan will cover the construction of a 26,200-square-foot Whole Foods Store and another 19,000 square feet of new retail space in the same building. It will also include 28,000 square feet of existing retail space that is partially leased. The loan is secured by the balance of the land in development. The loan was secured by Don C. Trossman of Cohen Financial’s Chicago office through a Midwestern-based bank. It features a 24-month term with an extension option rate.
OCONEE, GA. — Oconee 316 Associates has broken ground on the 410,000-square-foot Epps Bridge Center, a retail and entertainment project located at the intersection of Paul Broun Parkway and the Oconee Connector in Oconee. Benning Construction Co. is the general contractor for the project. A 16-screen Georgia Theater Co. stadium-style movie theater will anchor the development. The first phase, which is slated for completion in the summer of 2013, will include 400,000 square feet of retail space. Additional phases will include the development of the outparcels.
HOLLY HILL, FLA. — Marcus & Millichap has arranged the $2.92 million sale of a 13,662-square-foot Walgreens, located at 1600 N. Nova Rd. in Holly Hill. Walgreens has 6 years remaining on its original lease term. Kevin Yaryan of Marcus & Millichap's Orlando, Fla., office represented the seller, a private investor, in the transaction.
NORTH CHARLESTON, S.C. — A 3,500-square-foot restaurant building, located at 9135 University Blvd. in North Charleston, has sold for $1.16 million. Johnny Bevon of Avison Young represented Blane Cowart, the buyer, in the transaction. Alex Ramsey of King Street Commercial represented the seller.
RICHLAND HILLS — Centennial Real Estate Co. has purchased The Crossing, a 247,720-square-foot shopping center located at the northwest corner of Grapevine Highway and Precinct Line Road in Richland Hills. Kohl's anchors the center and Kroger Signature is a shadow anchor. Centennial will manage the center, and Greg Pierce and Rob Solls of UCR will handle the property's leasing.
HOUSTON — Marcus & Millichap has arranged the sale of a 1,504-square-foot retail property, located at 17500 NW Freeway in Houston, which is ground leased to Pizza Hut. Vincent Knipp of Marcus & Millichap's Fort Worth office represented the seller, a limited liability company, in the transaction. Glen Kunofsky and Judson Kauffman of Marcus & Millichap's Manhattan office represented the buyer, an individual trust. Pizza Hut has operated the location since 1991 and recently extended its lease on the property by 10 years.
JACKSONVILLE, FLA. — Inland Real Estate Acquisitions has purchased the 40,207-square-foot The Shops at Julington Creek, located at 12807 San Jose Blvd. in Jacksonville, for $8.8 million. The Fresh Market anchors the center, and additional tenants include Hurricane Grill & Wings, Metro Diner and Sprint. The buyer was self-represented in the transaction by Mark Consenza.
