Retail

Cooper Commercial Arranges the $2.9M Sale of Retail Center in Logansport, Ind.

by Danielle Everson January 23, 2015

LOGANSPORT, IND. — The Cooper Commercial Investment Group has arranged the $2.9 million sale of an 18,600-square-foot retail property in Logansport, approximately 30 miles northeast of Lafayette. Cass County Commons is located at the corner of Mall Road and Lexington Road. Wal-Mart shadow anchors the property. Tenants include Buffalo Wild Wings, Maurice’s, Great Clips, Petsense and Arnold’s Jewelry. Dan Cooper of Cooper Commercial’s Cleveland office represented the seller, an Indiana-based private investor. A Connecticut-based private investment group purchased the property.

January 23, 2015

Restaurant Retail Texas

M&M Arranges Sale of 3,500 SF Net-Leased Property in Midland

by Haisten Willis January 23, 2015

MIDLAND, TEXAS — Marcus & Millichap has arranged the sale of Chick-fil-A, a 3,500-square-foot net-leased property in the west Texas city of Midland. Geoff Ficke and Neal Waldman of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Alvin Mansour of the firm’s San Diego office procured the buyer, a private investor. Chick-fil-A is located at the northwest corner of Village Circle and South Garfield Street at 25 Village Circle. The property was built in 2012 and sits on more than one acre. The asset is within walking distance to Midland Memorial Hospital and is less than one mile south of Midland High School. At the time of listing, 13 years remained on the original 15-year corporately guaranteed ground lease.

January 23, 2015

Retail Texas

Coldwell Banker Arranges Sale of Convenience Store in San Jacinto

by Haisten Willis January 23, 2015

SAN JACINTO, TEXAS – Coldwell Banker Commercial United has arranged the sale of a 5,136-square-foot gas station/convenience store and Village Pizza in San Jacinto, 58 miles north of Houston. The property is located at 11037 Market St. Daniel Bekele of Coldwell Banker represented the seller, a bank. The buyer was unnamed.

January 23, 2015

Florida Retail Southeast

Morgan Property Group to Develop Florida Community Bank Branch in Fort Lauderdale

by John Nelson January 23, 2015

FORT LAUDERDALE, FLA. — Morgan Property Group (MPG) has purchased two adjacent land parcels totaling 19,560 square feet at the northeast corner of South Federal Highway and Southeast 7th Street in Fort Lauderdale. Through its affiliate Rio Vista Financial LLC, MPG purchased a 14,760-square-foot parcel of land from Caryl L. Henry Exempt Trust and the adjacent 4,800-square-foot parcel from Rio-Vista Saloon LLC. Bill Rotella of The Rotella Group Inc. represented Caryl L. Henry Exempt Trust, and Kimberly Barbar of Stiles Realty represented Rio-Vista Saloon. MPG plans to develop a freestanding, 3,500-square-foot branch of Florida Community Bank, which will feature a single-lane drive thru and a 24-hour ATM. Construction is expected to commence in April, and the bank is slated to open in October.

January 23, 2015

California Retail Western

Agoura Hills Shopping Center Sells for $5.6M

by Nellie Day January 23, 2015

LOS ANGELES – A 19,481-square-foot retail property in the Los Angeles submarket of Agoura Hills, has sold to GJD Holdings for $5.6 million. The center is located at 29020 Agoura Road. It was built in 1991. The property is part of an even larger 82,226-square-foot retail center. Tenants at the recently sold center include Prime Steakhouse and Teague Pilates. GJD was represented by Rod Delson of NAI Capital’s Westlake Village office. The seller, Agoura Hills Shopping Center Capital LLC, was represented by Ken Simons of the same firm.

January 23, 2015

California Retail Western

Ramon Plaza Near Riverside Sells for $9.1M

by Nellie Day January 22, 2015

RIVERSIDE, CALIF. – Ramon Plaza, a 70,131-square-foot retail property in the Riverside submarket of Cathedral City, has sold to an unnamed buyer for $9.1 million. The property is located at 68100 Ramon Road. It contains three buildings that feature a mix of medical, retail and office uses. The seller, a private investor, was represented by Pablo Rodriguez and Richard Vincent of Marcus & Millichap’s Ontario office.

January 22, 2015

Illinois Midwest Retail

Mid-America Real Estate Brokers Sale of Carillon Court in Romeoville, Ill.

by Danielle Everson January 22, 2015

ROMEOVILLE, ILL. — Mid-America Real Estate Corp. has brokered the sale of a 29,209-square-foot shopping center in Romeoville, a suburb of Chicago. Scottsdale-based Sand Capital purchased the property located at the northwest corner of 135th and Weber Road. Carillon Court features Allstate Insurance, Comcast, Stella’s Bar & Grill and Essential Chiropractic Center. Carly Gallagher and Ben Wineman of Mid-America brokered the transaction on behalf of a Chicago-based bank.

January 22, 2015

Midwest Office Retail Wisconsin

ALTUS Arranges 3,263 SF Lease of Retail/Office Space in Middleton, Wis.

by Danielle Everson January 22, 2015

MIDDLETON, WIS. — ALTUS Commercial Real Estate Inc. has arranged the lease of 3,263 square feet of retail/office space in Middleton, a northwestern suburb of Madison. The property is located at 6301 University St. Dr. Joe Cristoforo and Dr. Ken Neidhart have joined together to create The Center for Periodontics & Dental Implants Clinic, which will serve at this new location. The practice is set to open in March. Jeff Jansen represented the landlord in the transaction.

January 22, 2015

Florida Retail Southeast

Marcus & Millichap Brokers $6.2M Sale of Orlando Shopping Center

by John Nelson January 22, 2015

ORLANDO, FLA. — Marcus & Millichap has brokered the $6.2 million sale of Rosemont Plaza, a 99,103-square-foot shopping center located at 5800 N. Orange Blossom Trail in Orlando. The property was 79 percent occupied at the time of sale to tenants such as dd’s Discounts, Save-A-Lot, Dollar Tree and Hungry Howies. Douglas Mandel and Barry Wolfe of Marcus & Millichap’s Fort Lauderdale office represented the seller, an affiliate of Ram Realty Services, in the transaction. Jason Yukins, also with Marcus & Millichap’s Fort Lauderdale office, secured and represented the buyer, a partnership based in Opa Locka, Fla.

January 22, 2015

Connecticut Northeast Retail

GHP Office Realty Buys 19,000 SF Vacant Retail Center in Connecticut

by Amy Works January 22, 2015

WESTPORT, CONN. — GHP Office Realty LLC has acquired a retail shopping center located at 20 Saugatuck Ave. in Westport for an undisclosed price. The 19,000-square-foot center was vacant at the time of sale. The buyer has a $2 million capital improvement program slated for the property to redevelop it into a Class A multi-tenant shopping center. Upgrades will include installation of a new modern glass façade, awning and signage; installation of new mechanicals and gas service; new landscaping; resurfacing and re-striping of the parking lot; and resurfacing the roof. Additional terms of the transaction were not released. GHP Office Realty is a division of Houlihan-Parnes Realtors LLC.

January 22, 2015

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