COLUMBIA, TENN. — Charles Warner of Baker Storey McDonald Properties has brokered Realty Income Corp.'s sale of a 7,500-square-foot former Hollywood Video location to Aaron's Inc., part of a three-property deal valued at $2.06 million. The building, located at 803 S. James Campbell Blvd. in Columbia, will be converted into a Aaron Rents store. The other stores are located in Arkansas and Ohio. Warner, with the help of the firm's Sheldon Griffen, has also brokered BSM Creekside's sale of a 2,500-square-foot building formerly occupied by Regions Bank to Kroger Limited Partnership I for $735,000. The property is located at 1000 S. James Campbell Blvd.
Retail
OXFORD, MICH. — Mandy LLC has acquired 20,000 square feet on 3.5 acres of commercial space located at 43 E. Burdick in Oxford. Hi-Hill Lawn Service will occupy the space. James Lumber Co. sold the property for an undisclosed price. Larry Schultz of Friedman Real Estate Group represented the buyer in the transaction.
DUBLIN, CALIF. — Colliers International has arranged Loja Real Estate Fund 1’s purchase of The Shops at Waterford, located at 4440 Tassajara Road in Dublin, from Shea Properties for what is believed to be a price of $44 million. The shopping center is anchored by a 55,000-square-foot Safeway and integrated with a 390-unit apartment complex. Colliers’ Kevin Van Voorhis and Scott Kinsey represented the buyer in the transaction, and Eastdil Secured’s Chris Hoffman and Robb Wehmueller represented the seller.
MONROE, GA. — An Atlanta-based private investor has sold a Monroe Rite Aid to an Atlanta-based buyer for $1.52 million. Located at 703 W. Spring St., the property is NNN leased to Rite Aid for another 7 years. The sale also included 1.57 acres of land. Tim Giambrone of Marcus & Millichap's Atlanta office represented the seller.
INDIANAPOLIS — Mann Properties, along with a group of investors, has formed a real estate investment group to acquire the senior mortgage debt on Georgetown Commerce Park in Indianapolis. Located at 7301 N. Georgetown Road, the center offers 148,845 square feet of retail space. The new investment group, GCP Investment, plans to use Mann Properties to lease and manage the property. Current tenants at the center include Methodist Health Care Center, the National MS Society, Vibbert DDS and Symbios Technologies. Additional terms of the transaction were not disclosed.
SALINA, KANSAS — Marcus & Millichap's Alvin Mansour and Adam Christofferson have completed the sale and acquisition of Salina Strip Center, which is located at 2629 Market Place in Salina. The 6,400-square-foot retail property sold for $1.07 million. At the time of acquisition, the property was fully occupied by Check N Go, Sprint and Snap Fitness. The seller and buyer were not disclosed.
EDWARDSVILLE, ILL. — U.S. Bank has opened a new location at 1411 Lewis Road in Edwardsville. The 3,300-square-foot facility features four teller stations, three drive-thru lanes, a drive-up automated teller and night drop, safe deposit boxes and a specialized banking team. St. Louis-based The Lawrence Group provided architectural services for the project, which has been submitted for LEED certification. Swansea, Ill.-based Holland Construction Services served as general contractor for the project.
AUSTIN, TEXAS — Phoenix-based Cole Real Estate Investments has acquired Mueller Regional Retail Center, a 351,462-square-foot retail property located in Austin. The center is anchored by The Home Depot, Best Buy, Marshalls, PetSmart, Staples and Bed, Bath & Beyond. The seller as well as the acquisition price were not disclosed.
DEMOPOLIS, ALA. — The Mississippi-based grocery chain Vowell's Marketplace will open a location in Demopolis this March. The tenant will move into a 50,000-square-foot space vacated by Food World. Duckworth Realty's John Michael Holtmann represented Vowell's in the lease. Will Akin and Hugo Isom of the Shopping Center Group represented the undisclosed landlord.
HOUSTON — Tootsies has announced that it will relocate its Houston store to the 34,000-square-foot anchor space at West Ave, a seven-story multi-use residential project located at the intersection of Westheimer and Kirby in Houston. Build-out for the space will begin in the summer, and Gensler will serve as the architect of record. Tootsies will join Zaika, Eddie V's, Cru and Rome in the 190,000-square-foot retail and restaurant component of the project. Above the two levels of retail space, West Ave will also contain 389 luxury apartment units. Approximately 40 percent of the retail space is lease and 70 percent of the residential space, which opened last February, is leased. The project's first retail openings will begin in May. The owners of West Ave are Gables Residential and Northwestern Mutual.