WOODCLIFF LAKE, N.J. — AAG Management Inc. has sold 500 Chestnut Ridge Road, a 70,000-square-foot, grocery-anchored retail center, for $29 million. The shopping center, which is located in Woodcliff Lake, was renovated in 2011 and is fully leased. A & P Supermarket anchors the property and other tenants include Luxury Nail & Spa, A+ Cleaners, Wine & Liquors and Marco Polo’s. Jose Cruz and Andrew Scandalios of HFF represented the seller. The buyer was a private entity.
RIVERSIDE, CALIF. – A 6,160-square-foot, single-tenant property that is occupied by Chase Bank in Riverside has sold to a private Los Angeles investor for $5 million. The property is located at 10355 Magnolia Ave. The buyer was represented by George Y. Ragheb of Entrance Homes. The seller, 665 Claremont LP, was represented by William B. Asher, Kevin T. Fryman and Edward B. Hanley of Hanley Investment Group Real Estate Advisors.
FERNDALE, WASH. – A 2,812-square-foot, net-leased building in Ferndale that is occupied by Jack in the Box has sold to an unnamed buyer for $2 million. The property is located at 1819 Main Street. The seller, a limited liability company, was represented by Aaron Hines of Marcus & Millichap’s Seattle office.
HENDERSON, NEV. — LBG Realty Advisors has purchased a Home Depot building at the Sunset Plaza shopping center in Henderson for $13.5 million. Home Depot anchors the center. The acquisition also includes an undeveloped pad that could house an additional 6,000-square-foot building. LBG purchased the building in partnership with an affiliate of Aviva Investors North America. The seller was SMA Ltd.
NEW YORK CITY — Brown Harris Steven, a luxury real estate firm, has arranged the sale of The Fine Arts Building for $34 million. Located at 232 E. 59th St. in New York City, the 42,176-square-foot building was built in 1926. Fine Arts Building LLC purchased the six-story commercial property. Howard Morrel of Brown Harris Stevens represented the buyer in the deal. The seller was Battaglia Realty LLC.
SUGAR LAND, TEXAS — Fiesta Mart Inc. has leased 40,324 square feet of retail space at the Sugar Creek Village Shopping Center, located at 13833 SW Freeway in Sugar Land. Buster Freedman of United Equities Inc. represented the landlord in the transaction.
MCKINNEY, TEXAS — Playtri has signed a 10,908-square-foot lease at Times Square at Craig Ranch, a shopping center located at 7951 Collin McKinney Parkway in McKinney. When Playtri opens the store in May, it will be the largest triathlon store in the U.S. The store will feature bikes, apparel, onsite coaches and sports nutritionists, training sessions and various fitness testing at the store's Performance Center. Playtri is an official USA Triathlon Certified Performance Center. Ward Richmond, Chris Teesdale and Tom Pearson of Colliers International's Supply Chain Real Estate Advisors in Dallas represented the tenant in the lease transaction. Bry Taylor of Bryson Messer Properties LLC represented the landlord, Mid-America Apartments LP.
HENDERSON, NEV. — LBG Realty Advisors has purchased a Home Depot building at the Sunset Plaza shopping center in Henderson for $13.5 million. Home Depot anchors the center. The acquisition also includes an undeveloped pad that could house an additional 6,000-square-foot building. LBG purchased the building in partnership with an affiliate of Aviva Investors North America. The seller was SMA Ltd.
MIAMI — Heitman has purchased Miracle Marketplace, a seven-story, 243,047-square-foot Class A vertical retail building located along the Miracle Mile/Coral Way in Miami, for an undisclosed price. It is anchored by Nordstrom Rack, Bed Bath & Beyond, Marshalls, LA Fitness, PetSmart, DSW Shoe Warehouse and Ulta. Carson Good, Margaret Caldwell, Kris Cooper and Denny St. Romain of Jones Lang LaSalle represented the seller, AWE Talisman, which specializes in imaginative repositioning of shopping centers. AWE Talisman converted five floors of retail space into three floors of big box retail space. Bally’s Total Fitness, another Miracle Marketplace tenant, remained in operation during the renovation.
FLORIDA AND GEORGIA — IBM Southeast Employees’ Federal Credit Union (IBM) has selected CBRE as the exclusive agency provider for IBM’s 16-property real estate portfolio of owned and leased office and branch facilities in Florida and Georgia. Rick Miller and Tyler Harrison of CBRE comprise the team providing tenant advisory services to IBM. Miller and Harrison specialize in office brokerage services in the South Florida region. Matt Kiziah of CBRE will lead the project management side of the agreement.
