Southeast

MORROW, GA. — DDRTC, a joint venture between DDR Corp. and TIAA, has sold the 530,000-square-foot Southlake Pavilion Shopping Center, located at 1912-1947 Mount Zion Rd. in Morrow, to U.S. Properties Group. Tenants include Ashley Furniture, Shoppers World, LA Fitness, Ross Dress for Less, hhgregg, Sears, Staples, Barnes & Noble and Old Navy. Target, The Home Depot and an AMC 24-screen theater shadow-anchor the center. CBRE represented the seller in the transaction.

CHAPEL HILL, N.C. — Madison Marquette has sold the 113,000-square-foot Rams Plaza, a shopping center located at 1728 Fordham Blvd. in Chapel Hill, to a joint venture in a direct deal for $13.25 million. Food Lion and CVS/pharmacy anchor the center. A joint venture entity known as Rams Plaza Associates, headed by The Kalikow Group, the buyer, plans to renovate the center, spending a minimum of $1.5 million on the façade and improving the overall site and tenant spaces. Argus Development Group, a partner through its ARGUS RAMS PLAZA, LLC subsidiary, is responsible for the approval process, renovations and management of the property. BCP RAMS PLAZA, LLC, a Florida-based limited liability company, is the third member of the joint venture acquisition team. Retail Strategies is the leasing agent for Rams Plaza.

BRANDON, FLA. — Marcus & Millichap has brokered the $2.12 million sale of the 52,465-square-foot Brandon Mini Storage, located at 203 Providence Rd. in Brandon. Michael Mele of Marcus & Millichap's Tampa, Fla., office represented the seller, a Brandon-based private investor, in the transaction and procured the buyer, a California-based partnership.

ST. PETERSBURG, FLA. — Atlanta-based Halpern Enterprises has purchased the 46,020-square-foot The Shoppes at The Royale, located at 1400 66th St. N. in St. Petersburg, from Tyrone Crossings Investors for $7.55 million. Tenants include Jimmy John's, Chipotle, Pei Wei, Five Guys Burers & Fries, Massage Envy, Smoothie King, Verizon Wireless and Rib City. The center will be renamed The Village at Tyrone. Michael Milano of Colliers International's Tampa Bay, Fla., office, along with Cynthia Shelton of the firm's Orlando, Fla., office represented the seller in the transaction. The buyer was self-represented.