MADISONVILLE, TEXAS — Marcus & Millichap has arranged the sale of Huntsville Memorial Hospital ER, an 8,200-square-foot net-leased property in Madisonville. Philip Levy and Chris Gainey of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Gainey and Levy also represented the buyer, another private investor. Huntsville Memorial Hospital ER is a single-tenant ER clinic located at 3301 E. Main St. in Madisonville. The double-net lease is guaranteed by Walker County Hospital Corp. Eight years remain on the primary term, and the tenant has two, five-year options for renewal with rent increases at the beginning of each option period. The building was constructed in 2012 and sits on 1.4 acres.
HOFFMAN ESTATES, ILL. — Sears Holdings will close 68 Kmart and 10 Sears stores this summer, 23 of which are located in the Midwest. In February, the company, which is based in the Chicago suburb of Hoffman Estates, announced it would accelerate the closing of unprofitable stores. The majority of the store closings will take place in July. The closing Kmart and Sears stores will start their liquidation sales on May 12 and April 29, respectively. Associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at other area Kmart or Sears stores. Sears Holdings expects the store closures to generate a meaningful level of cash from the liquidation of store inventory and from the sale or sublease of some of the related real estate. A complete list of store closures can been found here.
DUBLIN, OHIO — The Cooper Commercial Investment Group has brokered the sale of a 30,493-square-foot retail property located in Dublin, approximately 17 miles northwest of Columbus, for $7.5 million. An private investment group from the East Coast sold Emerald Town Center to an undisclosed California-based buyer. Tenants at Emerald Town Center include Mango’s Place, NXStage Dialysis, The Gyro Shoppe, Ty Ginger, Jets Pizza, Snap Fitness, Rancho Alegre Mexican Restaurant, Michael Hendrick’s Veterinary Clinic and Ellie Nail Spa. Bob Havasi and Dan Cooper of Cooper Commercial represented the seller in the transaction.
ATLANTA — Regency Centers has inked a lease with Huff Harrington, a fine art gallery and home furnishings retailer, to lease 5,000 square feet of space at Buckhead Court, a 48,000-square-foot shopping center in Atlanta’s Buckhead district. The new store will offer art, design services, tableware, home décor and furnishings, accessories and jewelry. The retailer is expected to open for business at Buckhead Court in September. Other tenants at Buckhead Court include Superica, Range Boutique, DTOX and Buckhead Lash. Leslie Mintz of Regency Centers handles leasing responsibilities for Buckhead Court.
CHINO, CALIF. — Hanley Investment Group Real Estate Advisors is marketing Stater Bros. Plaza in Chino for $35 million. Located at 6939, 6989 and 7011 Schaefer Ave., the property is 95 percent occupied. Situated on 7.5 acres, a 44,000-square-foot Stater Bros anchors the 73,600-square-foot retail center. Ed Hanley and Bill Asher of Hanley Investment Group are marketing the property on behalf of the undisclosed seller.
PLEASANTON, CALIF. — Peet’s Coffee & Tea has inked a deal for 1,400 square feet of retail space at 349 Main St., Suite 110, in Pleasanton. The company will use the space to serve coffee, tea and baked goods. Craig Semmelmeyer of Main Street Property Services Inc. represented the landlord, Main Street Pleasanton LLC, while Andrew Lindsey of SRS Real Estate Partners represented the tenant in the transaction.
WEST HOLLYWOOD, CALIF. — BRC Advisors has brokered a 10-year, five-month lease for 1,584 square feet of restaurant space at a newly developed mixed-use building at 7141 Santa Monica Blvd. in West Hollywood. Yummy.com will occupy the space, which is located at Domain, a residential and retail development. Shane Murphy and Evan Weiss of BRC Advisors represented the tenant and landlord, Domain Wello, in the $3.8 million lease transaction.
MADERA, HANFORD AND FARMERSVILLE, CALIF. — Retail California, a division of Pearson Realty, has brokered three retail leases totaling 12,400 square feet. In Madera, Total PCS Solutions Inc. leased 900 square feet of space at 422 S. Gateway from Mark Knox. Nick Frechou of Retail California arranged the deal. In Hanford, EECU signed a deal for 1,000 square feet of retail space at Fargo Crossing Shopping Center from Blackheart Capital LLC. John Lee and Mike Kennedy of Retail California represented the landlord, while Troy McKenney of Newmark Grubb Pearson Commercial represented the tenant in the transaction. In Farmersville, Rite Aid signed a deal for 10,500 square feet of space at the corner of Farmersville Boulevard and Walnut Avenue from Halferty Development Co. Lewis Smith and John Lee of Retail California brokered the transaction.
NEW YORK CITY — Meridian Investment Sales has arranged the sale of a mixed-use property located at 600 E. 178th St. in the Bronx. The six-story, elevator-serviced building sold for $8.8 million, equivalent to a 5.5 percent cap rate. Located in the Tremont neighborhood, the 47,200-square-foot property features 45 residential units and six retail units. Mark Steinmetz of Meridian Investment Sales represented the buyer and seller in the transaction. The names of the buyer and seller were not released.
SAN RAFAEL, CALIF. — Cushman & Wakefield’s Mortgage Services has closed a $46 million refinancing for Montecito Plaza in San Rafael. Located at Third and Grand streets, the shopping center is occupied by Trader Joe’s, Petco, Pier 1 Imports and Rite Aid, among others. Kurt Scheidt and Terry Daly of Cushman & Wakefield arranged the 10-year loan for the borrower, longtime owner/developer Seagate Properties.