SAN ANTONIO — United Commercial Realty (UCR) has brokered the sale of Camelot Plaza in San Antonio. The retail property, located on the southwest corner of Walzem Road and FM 1976, totals 79,161 square feet and includes two spaces with potential drive-thru capability. UCR’s Craig Garansuay represented the seller in the transaction.
TEMECULA, CALIF. – A 13,630-square-foot retail building in Temecula has sold to Aro Partners for $3.5 million. The free-standing building is located at 40810 Winchester Road. It is 75 percent leased to Hallmark and Beauty One Cosmetics Supply store. The property fronts the Promenade Temecula. The 1031 exchange buyer was represented by Nick Frasco of Voit. The seller, Temecula Pad H LLC, was represented by Jeff Conover of Faris Lee Investments.
HICKORY, N.C. — Q10 | New York Realty Advisors (Q10NY) has closed a $1.8 million first mortgage loan on a free-standing Rite Aid drug store in Hickory. Q10NY worked with Q10 | Professional Mortgage of North Carolina, which represented the lender, an insurance company. Jeanne Cronin of Q10NY arranged the 15-year, self-liquidating loan on behalf of the borrower, a Midwest-based real estate family with a portfolio of single-tenant properties. Rite Aid's lease expires during the loan term. The lease has four five-year renewal options. Q10NY is a member of Q10 Capital LLC, a commercial mortgage banking company.
NAPERVILLE, ILL. — Quantum Real Estate Advisors Inc. has arranged the sale of an 82,453-square-foot shopping center located in Naperville, a western suburb of Chicago, for $24 million. The property includes four single-tenant restaurants on long-term ground leases including Zapatistas, Maggiano’s Little Italy, White Chocolate Grill and Morton’s Steakhouse. The property also features four multi-tenant buildings leased to tenants including Subway, Einstein’s Brothers Bagels, Scottrade, Jason’s Deli, Athletico and others. An institutional investment firm purchased the property, which was 95 percent leased at the time of sale. A Lemont, Ill.-based development company was the seller. Chad Firsel and Daniel Waszak of Quantum Real Estate Advisors Inc. represented the buyer and the seller in the transaction.
MAYFIELD HEIGHTS, OHIO — Marcus & Millichap has arranged the sale of a 6,760 square-foot net-leased property in Mayfield Heights for $2.9 million. Glen Kunofsky, executive vice president investments, and Russell Wachtler, investment associate at Marcus & Millichap marketed the property on behalf of the seller, a private investor. Michael Glass, also of Marcus & Millichap, assisted in the transaction. 7-Eleven Gas and Convenience leases the property, located at 6680 Mayfield Road.
HOUSTON — A new anchor store, The Fresh Market, has opened at Lantern Lane shopping center, located at 12500 Memorial Drive in Houston’s affluent Memorial neighborhood. The specialty grocer replaces former anchor Rice Epicurean, also a specialty grocery store. The center, which totals 79,501 square feet and is 100 percent leased, is owned by AmREIT Monthly Income & Growth Fund III Ltd., an advised fund of AmREIT Inc.
MACON, GA. — Phillips Edison-ARC Shopping Center REIT, a public, non-traded REIT sponsored by Phillips Edison & Co. and AR Capital, has purchased a Macon shopping center from New York City-based Nightingale Group. Rivergate Shopping Center is a 207,567-square-foot property located at the interchange of Interstate 75 and Tom Hill Sr. Boulevard. The shopping center was renovated in 2012 and is 86 percent leased to a tenant roster that includes Publix, Planet Fitness, Dollar Tree, Batteries Plus, Buffalo Wild Wings, Dunkin Donuts, IHOP, Panera Bread, Starbucks Coffee and Subway. Richard Reid and Jim Hamilton of Holliday Fenoglio Fowler represented the seller in negotiations.
EDINA, MINN. — Anderson Cos. has broken ground on a new 51,565-square-foot grocery store for Lunds and Byerly’s in Edina. The project includes the construction of a new Byerly’s grocery store adjacent to its existing store at the intersection of France Avenue and Hazelton Road, which the company has operated for more than 40 years. The new store is expected to open in late summer/early fall of 2014. The existing store will remain open during the construction. The new store will include a full-service bakery, deli, meat and seafood departments, Caribou Coffee and Bachman’s floral arrangements. A new feature at this location will be a Creations Café, offering made-to-order lunch and dinner options.
CORALVILLE, IOWA — Von Maur has opened an80,000-square-foot department store in Iowa River Landing, a 180-acre mixed-use development in Coralville. OliverMcMillan is the master developer of Iowa River Landing, which is situated along the Iowa River. The mixed-use development includes a 286-room flagship Marriott Hotel and Conference Center, a 100-room Homesuites Hotel and the University of Iowa Hospital and Clinics’ new 150,000-square-foot facility. The master-planned development includes 330,000 square feet of retail, office, residential and entertainment offerings. Construction is set to begin later this year on a multi-story residential development, which includes 60 condominiums and 13 townhouses. The residential development is projected to open in spring 2015.
OAKBROOK TERRACE, ILL. — NAI Hiffman has been awarded management and leasing assignments for Tower Station in West Chicago, Railway Plaza in Naperville and Nelson Plaza in New Lenox. The addition of the three properties expands NAI Hiffman’s retail management and leasing portfolio in the Chicago metropolitan area to more than 56.6 million square feet. Tower Station, a 23,184-square-foot strip center located at 956 N. Neltnor Blvd., is shadow-anchored by Aldi grocery store. Railway Plaza, a shopping center located at 572 Western Ridge Court, is anchored by Starbucks. Nelson Plaza, a 32,655-square-foot shopping center located at 402-414 Nelson Road, has three vacant units ranging in size from 1,322 to 6,029 square feet.