ST. LOUIS, MO. — McGrath & Associates recently completed construction of a $1 million retail building at Lindbergh Commons in South St. Louis County. Starbucks and Sleep Number are the tenants of the 4,300-square-foot building located at Lindbergh Boulevard. and Lemay Ferry Road. Irving Sherman Trust developed the property. Dawdy & Associates was the architect. The project was completed on schedule in May, despite a winter of extremely harsh weather. The Starbucks store at Lindbergh Commons is one of just a few in the country that opened by its original schedule despite the challenging winter conditions. McGrath previously built an adjacent 7,000-square-foot building at Lindbergh Commons. Tenants include Maytag, AT&T and Imo’s Pizza.
Retail
SAN ANTONIO — CBRE has brokered the sale of Potranco Village Shopping Center in San Antonio to an unnamed buyer. Texas-based Barshop & Oles Co. sold the asset for an undisclosed price. Potranco Village, located at 430 W. Loop 1604 in the Far West San Antonio submarket, is near the intersection of Highway 90 and Loop 1604. The center includes 18,000 square feet of space and is 100 percent occupied. Tenants include Pei Wei Asian Diner, Wingstop and GNC. Academy Sports + Outdoors shadow-anchors the property. Barshop & Oles Co. will continue to lease and manage the asset for the new owner. Chris Cozby, Chris Gerard and Kevin Holland of CBRE represented the seller in an off-market transaction.
CLERMONT, FLA. — Forness Properties has arranged the $9.5 million sale of Golden Eagle Village, a 64,050-square-foot Publix-anchored shopping center located at 2430 U.S. Highway 27 in Clermont. Constructed in 2009, Publix occupies approximately 45,600 square feet at Golden Eagle Village, which was 85 percent leased at the time of the sale. Other tenants include Great Clips, AT&T, Bamboo Garden and a dry cleaner. Drew Forness of Forness Properties, along with Bob Barkett of Barkett Realty Group, represented the seller, Battaglia Group Management LLC, the developer of the shopping center. The buyers include Golden Eagle Ridge I and Equinox Development Properties.
BURLINGTON, MASS. — Burlington-based KeyPoint Partners has added 16 Boston retail properties to its property management portfolio. The properties, which are owned by Linear Retail, total more than 104,000 square feet and include four Newbury Street locations. KeyPoint currently manages 38 properties throughout New England for Linear Retail, ranging from small suburban properties to grocery-anchored shopping centers. With the new assignments, KeyPoint will manage 54 properties for Linear Retail totaling nearly 1.3 million square feet.
WESTLAND, MICH. — Bernard Financial Group has arranged a $2.8 million loan to refinance the Bayview Market Place Center, a 21,024-square-foot shopping center in Westland, located approximately 20 miles west of Detroit. The complex consists of two buildings situated on nearly one acre. Dave Dismondy of Bernard Financial Group arranged the loan for the borrower, Westland Associates Partners LLC, with a CMBS lender.
LUBBOCK, TEXAS — CBRE has brokered the sale of Northpark Village in Lubbock. Cincinnati, Ohio-based Phillips Edison & Co. bought the grocery-anchored center for an undisclosed price. Lubbock-based United Supermarkets anchors the 70,479-square-foot Northpark Village at the intersection of 4th Street and Slide Road. Texas Tech University is two miles from the center. The complex is 96.8 percent occupied. Other tenants include Starbucks and GNC. Chris Cozby, Chris Gerard and Kevin Holland with CBRE represented the unnamed seller in an off-market sale.
WORCESTER, MASS. — CBRE/New England’s Capital Markets team has brokered the sale of Price Chopper Supermarket located at 50 Cambridge St. in Worcester. H&R REIT sold the 69,000-square-foot property to The Federated Companies for $16 million. Built in 2003, the Worcester Price Chopper serves as the flagship store in Worcester, one of Price Chopper’s primary markets. Price Chopper operates 10 stores in the Greater Worcester market and has more than 130 locations throughout the Northeast. Nat Heald, Chris Angelone, Bill Moylan and Bruce Lusa of CBRE/New England represented the seller and buyer in the transaction.
LOS ANGELES – Cotti Foods has received a $39.4-million loan to acquire 39 Wendy’s Restaurants throughout Los Angeles and Hawaii. Some of the funds will also be used to remodel existing units, as well as to develop new units. The acquisition includes 32 restaurants in the Greater Los Angeles market and seven in Hawaii. The restaurants were sold by Wendy’s International Inc. So far, the company has disposed of 418 Wendy’s restaurants across 13 U.S. markets. Most of these dispositions occurred out West. The loan was provided by GE Capital’s Franchise Finance business.
HOUSTON — Progressive Real Estate Partners has brokered the sale of a 24,000-square-foot former PetSmart building for $5 million. The freestanding building is located at 10500 Katy Freeway in Houston. Built in 1992, the 1.8-acre property is shadow-anchored by Home Depot, Hobby Lobby and Sam’s Club. The site is near Interstate 10 and Beltway 8 in Houston’s Memorial City District.
ATLANTA — Westbridge Partners has acquired the retail component of a new mixed-use building located at 691 14th St. in Atlanta’s West Midtown neighborhood. Completed in 2014, the property features 197 apartment residences and 10,980 square feet of retail space. Patterson Real Estate Advisory Group arranged acquisition financing through Hamilton State Bank on behalf of Westbridge. Westbridge purchased the retail portion from Greystar and has executed leases with Cooks and Soldiers (4,625 square feet), Kane Boutique (1,192 square feet) and an unnamed national coffee/tea company (1,700 square feet).