FORT LAUDERDALE, FLA. — SIKON Construction has broken ground on a 30,907-square-foot Publix at Fort Lauderdale's The Galleria Mall. The $5 million development will be located at 2501 E. Sunrise Blvd. The firm is also building a 1,300-square-foot, free-standing Starbucks Coffee and additional retail space. The project, which was designed by Fisher & Associates, is slated to deliver in April 2011.
ANN ARBOR, MICH. — Anytime Fitness has opened a new location at Maple Village in Ann Arbor. The company leased 6,893 square feet of space at the retail center, which is located at the corner of Maple and Jackson roads. Richard Parnell of Hastings, Minn.-based Franchise Real Estate represented the tenant; Justine O’Brien provided in-house representation for Centro Properties Group, which owns the retail property.
NEW JERSEY AND PENNSYLVANIA — Metro Commercial Real Estate has assisted Dollar Tree in signing leases for 11 new locations within the greater Philadelphia and southern New Jersey markets. The leases total approximately 120,000 square feet of space. The new retail stores will be in the New Jersey cities of Absecon, Cape May, Egg Harbor and Upper Deerfield; as well as the Pennsylvania cities of Audubon, Bensalem, Easton, Exton, Malvern, Philadelphia and Upper Darby. Metro Commercial's Donna Drew represented Dollar Tree in each of the deals.
FORNEY, TEXAS — Two undisclosed parties have traded the 31,220-square-foot Mustang Crossing shopping center in an REO sale. The sale price was not disclosed. Located at 1012 US Highway 80 in Forney, the center is shadow-anchored by Lowe's and Walmart Supercenter. Tommy Tucker of Marcus & Millichap's Dallas office brokered the sale.
PHILADELPHIA — Metro Development Co. (MDC) has unveiled plans for the redevelopment of the former Tasty Baking Co. site in Philadelphia's Hunting Park West neighborhood. Plans for the 20-acre site, which housed Tasty Baking's corporate headquarters and production facility, call for a 145,000- to 170,000-square-foot shopping center. The $30 million first phase would include a grocery-anchored strip center with pad sites. The second phase would include a bog-box retail anchor and small-space shops. MDC is currently developing a site plan and drafting preliminary land development documents, but construction could begin as early as this fall, with Phase I completion coming as early as the fourth quarter of 2011. US Realty Associates is handling leasing for the project.
SOMERSET, N.J. — Marcus & Millichap has brokered the sale of Nora Shopping Center in Somerset for $3.7 million. The strip center was fully occupied at the time of closing. Michael Lombardi of Marcus & Millichap's New Jersey office represented the undisclosed seller. Seth Pollack, also of the broker's New Jersey office, represented the buyer, a local investor.
PALESTINE, TEXAS — Graham Investments has sold the 209,197-square-foot Palestine Mall to the City of Palestine. The 30-year-old property, which is located at 2017 South Loop 256 in Palestine, was listed for $4.5 million. Upon renovation, the development will be the new home of the city's public library, Texas State Technical College and an early-start college program for high school students. The Woodmont Company's Brad Cruickshank represented the seller. Cody Harris of United Country-Southland Realty represented the buyer.
SACRAMENTO AND PLEASANT HILL, CALIF. — Retail Opportunity Investments Corp. has purchased two Northern California centers totaling in excess of $27 million. Located in Sacramento, the $13.46 million Norwood Center is an approximately 90,000-square-foot, fully leased property anchored by Viva Supermarket, Rite Aid and Citi Trends. Located at 3250 Buskirk Ave. in Pleasant Hill, an approximately 71,000-square-foot shopping center anchored by Office Depot and Basset Furniture was purchased for $13.65 million.
SOUTH ELGIN, ILL. — An entity of a Northbrook, Ill.-based development company has purchased the 260,000-square-foot South Elgin Crossings shopping center from a national bank for $24 million. Located at the intersection of Randall Road and McDonald Road in South Elgin, the property houses Home Depot, Best Buy, PetsMart, Staples and Buffalo Wild Wings. Wells Fargo Bank financed the transaction. Chad Firsel of Quantum Real Estate Advisors represented the buyer in the transaction.
MICHIGAN — NAI Farbman’s Paul DeBono represented Amherst Partners in the sale of a retail property to Residential Rental-Harry for an undisclosed amount. The 58,443-square-foot building is located at 34150 Gratiot Ave. in Clinton Township, Mich. DeBono and the firm’s Ronald Goldstone represented Bank of America National Association’s sale of a 36,336-square-foot retail property to a private party. The development is located at 35300 Central City Parkway in Westland, Mich.