TOPEKA, KAN. — Mid-America Real Estate Corp.’s investment sales team brokered the $18 million sale of Wanamaker Shopping Center in Topeka, Kan. Fort Wayne, Ind.-based Equity Investment Group Inc. purchased the regional shopping center. Wanamaker Shopping Center is located at the southeast corner of Wanamaker Road and 17th Street in Topeka, Kan. Big Kmart, Hobby Lobby and Bed Bath & Beyond anchor the 269,875-square-foot center. Joe Girardi of Mid-America Real Estate Corp. in cooperation with Eric Gonsher of The R.H. Johnson Co. represented the seller, Kansas City, Mo.-based Eighteen Capital Group in the transaction.
Retail
WICHITA, KAN. — A new Sam’s Club has opened in Wichita, Kan. The 136,000-square-foot store is located at 3084 N. Maize Road. A grand opening ceremony for the new membership warehouse club took place on Thursday, July 17. Associates of Sam’s Club presented several local organizations with more than $18,000 in grants during the ceremony. The new store features a variety of members-only amenities, including a fresh bakery, tire and battery center, a café and a fuel station. Sam’s Club, a division of Wal-Mart Stores Inc., hired more than 180 new associates for the new store.
SYRACUSE, N.Y. — Carrols Restaurant Group has entered into a definitive agreement to purchase 21 Burger King restaurants from Kessler Group. The restaurants are around Rochester, N.Y., and in the Southern Tier region of Western New York. The transaction is expected to close by the end of July. This transaction is the latest in Carrols’ move to expand and increase its ownership of Burger King restaurants. The company recently acquired eight restaurants in two separate transactions — four locations in the Pittsburgh market and four locations in Fort Wayne, Ind.
SEABROOK, N.H. — DDR Corp. has opened Seabrook Commons, a ground-up retail power center in Seabrook, a northern suburb of Boston MSA. The 380,000-square-foot retail center is 96 percent leased. Retail tenants include Walmart, Dick’s Sporting Goods, PetSmart, Michaels, ULTA, Famous Footwear and Five Below. Additionally, the center offers a variety of restaurants, including Panera Bread, Outback Steakhouse and Noodles & Company. Seabrook Commons serves a trade area population of 251,000 people with an average household income of $90,000.
SAN ANTONIO — James Avery, a Texas-based jeweler, has opened a new store at South Park Mall in San Antonio. The location features James Avery’s new store design. It’s the company’s ninth location in the San Antonio metroplex and its 70th store overall. The new store is located at 2310 SW Military Drive, just off I-35.
LEXINGTON PARK, MD. — Federal Capital Partners (FCP) and Westmoreland Partners have sold Lexington Village, a 160,000-square-foot shopping center, for $24.1 million. The 96 percent leased center is located at the intersection of Maryland Route 235 and Buck Hewitt Road in Lexington Park. After acquiring the property in 2010, FCP and Westmoreland completed the development of the property.
FLOWOOD, MISS. — Inland Real Estate Income Trust Inc. has acquired Dogwood Festival Shopping Center, a 187,610-square-foot retail center located in Flowood, roughly 10 miles northeast of Jackson. Lou Quilici of IREIT Business Manager & Advisor Inc. brokered the transaction. The property is 97.8 percent leased to 36 tenants, including T.J. Maxx, HomeGoods, Old Navy, Gap, Men’s Wearhouse and Hibbett Sports.
BRANDON, FLA. — Publix Grocery Stores Inc. has purchased Kingsway Crossing, a 63,423-square-foot, Publix-anchored shopping center in Brandon, about 11 miles west of Tampa. Publix purchased the asset from Valrico Lake Brandon LP, a private Canadian investment entity, for $8.2 million. The shopping center, located at 1254 Kingsway Road, is 90 percent leased to tenants including Great Clips, Metro PCS and Kumon Learning Center. Mark Shellabarger and Dennis Carlson of CBRE represented the seller. CBRE handles the property management and leasing of Kingsway Crossing.
TOMS RIVER, N.J. — HFF has arranged a $20 million loan for the refinancing of Tri-City Plaza, a 108,109-square-foot retail center in Toms River. Situated on 15.97 acres at 2360 Lakewood Road, the property is fully occupied by 17 tenants, including Super Stop & Shop, Dollar Tree, Starbucks Coffee, GN and The UPS Store. HFF secured the fixed-rate loan through a life company for the borrower, Paramount Realty Services. Jon Mikula, Jim Cadranell and Samuel Seiden of HFF negotiated the refinancing, which will replace existing debt on the property.
NEW YORK CITY — Marcus & Millichap has brokered the sale of a Dollar Tree (dba Deal$) location at 78-02 Metropolitan Ave. in the Middle Village neighborhood of Queens. The 10,240-square-foot, net-leased retail property sold for $4.6 million. Scott Plasky of Marcus & Millichap represented the seller, a New York-based retail developer, in the transaction.