WESTON, FLA. — Strategic Storage Trust has purchased two storage facilities in Weston and New Jersey from Chicago Five Properties for a combined $23 million. The 651-unit Florida property is located at 16400 State Road 84 and is currently 86.1 percent occpuied. CB Richard Ellis represented the seller.
ZANESVILLE, OHIO — A Cincinnati-based private investor has acquired the ownership interest of a freestanding Family Dollar retail store in Zanesville. Family Dollar recently renewed its 5-year lease at the property, which is located at 1236 Maple Ave. New York-based Cedar Shopping Centers sold the 6,900-square-foot building for $575,000 at an 8.97 percent cap rate. Dan Cooper of Cooper Commercial Investment Group represented the seller in the transaction.
CRANSTON, R.I. — Boston-based NAI Hunneman has brokered the sale of a 113,000-square-foot shopping center in Cranston for $3.2 million. The building is situated on 9.6 acres at 1441 Elmwood Ave. The anchor tenant is a 35,800-square-foot PriceRite supermarket. The remaining space is vacant following the closing of National Wholesale Liquidators, which recently filed for bankruptcy. Robert Tito of NAI Hunneman and Jonathan Aron, formerly of NAI Hunneman, represented the seller, Cardinal Properties, and procured the buyer, OSJ of Cranston LLC.
RUSTON, LA. — Stan Johnson Co. has brokered the $4.94 million sale of a 14,550-square-foot Walgreens in Ruston between two private parties. The property, which sits on 1.6 acres, is fully leased to the retailer. Gill Warner of Stan Johnson Co. represented the seller. The firm's Rod Pickney and Chad Byerly represented the buyer.
ORMOND BEACH, FLA. — Century Retail has finished a 45,600-square-foot Publix and 20,000 square feet of retail space at Ormond Beach Mall. The property is located on Ocean Shore Drive in Ormond Beach. The two-phase project commenced in April 2009, and Publix will open on March 12.
ROMEOVILLE, ILL. — Adam Haefner and Victor DeBoer of Darwin Realty & Development Corp. represented landlord Ardmin Properties Real Estate Investment Group in the leasing of 36,734 square feet of flex space, located at 1265 Naperville Drive in Romeoville. In the first transaction, Primus Natural Stone inked a deal for Unit A, which offers 18,226 square feet of space. Jeffrey Galante of Lee & Associates represented Primus. In the second transaction, Brent DeNoble of Interstate Realty represented Ruhrpumpen Inc. in the leasing of the 18,508-square-foot Unit B. Terms of the transactions were not disclosed.
PHILADELPHIA, PA. — Discount retailer Roses has signed a lease for 50,000 square feet of space at Rising Sun Plaza, a shopping center located at the intersection of Rising Sun and Adams avenues in Philadelphia. Jed Masloff and Jim Creed of Fameco Real Estate represented the retailer in lease negotiations. The store will hold its grand opening this week. The landlord's name as well as the terms of the lease were not disclosed.
CORPUS CHRISTI, TEXAS — KWM Investments has purchased a 6,500-square-foot building formerly occupied by Hertz Equipment Rentals from The Hertz Equipment Rental Corp. for an undisclosed price. The property is located0 on 2.14 acres at 921 Port Ave. in Corpus Christi. The tenant plans to undertake interior and exterior upgrades to the facility, which features a 1,000-square-foot covered wash bay. NAI Cravey Real Estate Services brokered the sale.
BLACKFOOT, IDAHO — Stan Johnson Co. has completed the $1.725 million sale of a 7,790-square-foot shopping center in Blackfoot. Located on a 0.73-acre pad site at a Walmart Supercenter, the retail property is 100 percent leased to three national tenants and one local. Stan Johnson’s Gill Warner represented the retail developer in its sale of the property to a 1031-exchange private investor.
NEWARK, N.J. — The Goldstein Group has brokered the sale of a freestanding Walgreens pharmacy located in Newark. The building is situated at 361-397 Bergen St. and is part of a shopping center that also includes The Home Depot, Applebee's and Wendy's. The buyer was undisclosed and the seller was Springfield Bergen LLC. The sale price was not release, but the property traded at a 6.5 percent cap rate. The Goldstein Group also negotiated the sale of the land for the building's development as well as the leasing of the building to the pharmacy chain.