PRESCOTT, ARIZ. — Depot Marketplace, a 91,461-square-foot, grocery-anchored shopping center, has sold to Depot Marketplace Investors LLC for $11.2 million. The property was redeveloped in 1991 and currently boasts a 92 percent occupancy rate. Bob Young, Glenn Smigiel, Steven Brabant, Rick Abraham and Nancy Romanovsky of CBRE’s Phoenix office, along with Bebe Wright of Arizona Commercial in Prescott, represented the seller, Depot Marketplace Owners LLC, in this transaction.
Retail
ONTARIO, CALIF. — Pacific Plaza Shopping Center in Ontario has sold to Westwood Financial Corp. for $7.4 million. The 49,901-square-foot shopping center was built in 1989. It is located at 2544-98 South Archibald. The center is currently 58 percent leased. Notable tenants include 24-Hour Fitness, Taco Bell, Manila Bay Seafood, Pizza Hut, Frazee Industries, Bank of America and Vineyard of Hope. Westwood was represented by Alan Kruger of Marcus & Millichap in this transaction.
SAN DIEGO – A 15,459-square-foot retail building that currently hosts a CVS Pharmacy has sold to Wateridge Kiffmann Investors, LLC for $7.2 million. The property is located at 4404 El Cajon Blvd. Wateridge was represented by Michael Campbell of Cassidy Turley San Diego. The seller was represented by the firm’s Chuck Klein and Kevin Held.
MOUNT JULIET AND SMYRNA, TENN. — Academy Sports + Outdoors has plans to build two new stores in Tennessee. Construction has started on the 71,250-square-foot store at the 365,000-square-foot The Paddocks, a shopping center located at the intersection of Mount Juliet and Pleasant Grove roads in Mount Juliet. Academy Sports + Outdoors acquired the land from The Gipson Company. In May, the company will also break ground on a 71,250-square-foot location at the 185,000-square-foot The Gateway Centre, located at the intersection of Ridley Parkway and Wolverine Drive in Smyrna. Academy Sports + Outdoors purchased the land from GCAG Gateway. Drew Chorney and Brian Forrester of The Shopping Center Group's Nashville, Tenn., office represented both sellers in the transactions. GBT Realty represented Academy Sports + Outdoors in the land acquisition at The Gateway Center. Completion for both stores is slated for early fall.
FORT LAUDERDALE, FLA. — Marcus & Millichap has arranged the $6.82 million sale of a 19,176-square-foot Fresh Market, located at 400 N. Federal Hwy. in Fort Lauderdale. Lior Regensteif of Marcus & Millichap's Encino, Calif., office, along with Kirk Felici of the firm's Miami office, represented the seller, a developer, in the transaction.
MCALLEN — Sam's Club has opened a new, 139,000-square-foot store, located in the Valencia Marketplace at 7601 N. 10th St. in McAllen. The new store is expected to hire approximately 178 employees.
GLENDALE, CALIF. – The Glendale Galleria, a 1.5-million-square-foot super-regional shopping center, has begun its redevelopment efforts. The renovation will include the addition of a new 120,000-square-foot Bloomingdale's in the former Mervyn's space that is scheduled to open in fall 2013. The Central Avenue Plaza will also be reconstructed, while the mall’s Target and JCPenney courts will undergo dramatic renovations.
PLANT CITY, FLA. — RCG Ventures has sold the 37,458-square-foot Collins Park Shopping Center, located at the intersection of SR 39 and Park Road in Plant City, to Coastal Equities. A 29,000-square-foot Tractor Supply anchors the center, which is 90 percent leased. Plaza Advisors represented the seller in the transaction.
ST. JOSEPH, MO. — Dick's Sporting Goods is opening a new location at Cook Crossing, located at 4202 N. Belt Highway in St. Joseph. The store will be the retailer's 10th store in the state of Missouri and 486th nationwide. Dick's Sporting Goods includes equipment, apparel and footware. The store will open April 25.
MANCHESTER, CONN. — Outdoor retailer Eastern Mountain Sport has opened an 18,831-square-foot store in Manchester. The store is located next to PetSmart in the Plaza at Buckland Hills. The space is nearly three times the size of the former location in the same shopping complex. The store will feature a new section for kids, an expanded kayak department and a larger, full-service bike shop. A grand opening is scheduled April 27 to April 29.