BIRMINGHAM, MICH. — Walgreens plans to open a new location at the former Borders Books & Music site in Birmingham. The drugstore retailer will occupy the ground floor and second floor of the building, located between East Maple and West Beaver roads. Michigan-based Lormax Stern managed the deal and the approval process. Brad Rosenberg and Susan Acciaiolli of Mid-America Real Estate represented the landlord, Related Birmingham LLC, in the deal.
WOBURN, MASS. — Linear Retail Properties has acquired West Marine Plaza in Woburn for $5.3 million. The 32,515-square-foot shopping center is located at 299 Mishawum Rd., across from the Woburn Mall. The retail property was developed in 1993 for Toys “R” Us, and is currently fully leased to West Marine and Sleepy's. Peter Considine and Scott Black of The Dartmouth Co. and Aaron Savin of ECHO Retail represented the seller, Office Depot Inc., in the transaction. They also procured the buyer.
BETHLEHEM, GA. — A 45,200-square-foot, 12-screen Carmike Cinemas movie theater, located at the intersection of GA Highways 316 and 81 in Bethlehem, has sold for $8 million. The tenant commenced a 20-year, triple-net lease with rent bumps in January 2012. The seller was a local real estate company and the buyer was a national single-net, net-leased investment group.
EDWARDSVILLE, KAN. —Zumiez.com, a skateboarding and apparel retailer, has inked a new lease for 153,000 square feet at 9911 Woodend in Edwardsville, Kan. Joseph Accurso of Kessinger/Hunter & Co. represented the tenant in the transaction. Phil Algrim of NAI Capital Realty represented the landlord, Fastenal Co.
PHARR — Plano-based Cinemark Holdings has plans to open a 16-screen, all-digital Cinemark NextGen movie theatre, which will be located in Phase I of Pharr Town Center's renovation and expansion at North Jackson Road and U.S. 83 Expressway in Pharr. The theater is slated to open in 2013.
DENVER — Sur La Table is expanding at the Cherry Creek Shopping Center in Denver. The specialty cookware retailer will close its current location within the center on April 3 before expanding into a 7,434-square-foot space at 121 Clayton Lane. Stuart Zall of The Zall Company and Steven Bartha of SJBartha Consulting Group represented Sur La Table. David, Hicks & Lampert Brokerage represented the landlord, AmCap Properties, in this transaction.
SUN CITY CENTER, FLA. — NorthMarq Capital has arranged $4.6 million in first mortgage refinancing for the 97,450-square-foot Sun City Plaza, located at 1601 Sun City Plaza in Sun City Center. Matthew Kohlhoss of NorthMarq's Washington, D.C., office arranged the 10-year loan with a 25-year amortization on behalf of the borrower, Sun City LLC, through RiverSource.
BAXTER, MINN. — Eidco Construction has been selected to renovate the 260,725-square-foot Westgate Mall in Baxter, Minn. The 65,000-square-foot renovation project will include a building addition and exterior facade work. Tenants at the shopping center include Heberger's Department Store, Big Lots and Dunhams. The mall is located at 14136 Baxter Dr.
IRONWOOD, MICH. — Farmington Hills, Mich.-based Agree Realty Corp. plans to expand Miner's Super One Foods at its Ironwood Commons Shopping Center in Ironwood. The grocery store will be expanded from 35,000 square feet to 55,000 square feet. The project includes the elimination of in-line retail space, including Sears Hardware, to make way for the Miner's expansion.
SAN ANTONIO — 4M Realty has arranged a 1031 tax exchange for the sale of the 12,421-square-foot Castle Hills Crossroads, a retail center located at 2277 NW Military Hwy. in San Antonio. Sandi Leone of San Antonio-based 4M Realty represented the seller in the transaction. David Ballard of San Antonio-based Reata Real Estate represented the buyer, KFM Partners.