SAVANNAH, GA. — The 185,244-square-foot Abercorn Common, a community shopping center located adjacent to Oglethorpe Mall in Savannah, has traded through Auction.com. It is 96 percent leased to tenants including HomeGoods, Michaels, Office Depot, Party City, ULTA, Ashley Furniture, McDonald’s, Firehouse Subs and Panera Bread. A special purpose entity controlled by LNR Partners LLC served as special servicer and the buyer was a private investor from Savannah. Mark Gilbert, Adam Feinstein and Gary Saykaly of Cushman & Wakefield Retail Investment Advisors acted on behalf of the seller.
BROOK PARK, OHIO — Philips Edison — ARC Shopping Center REIT has acquired Brook Park Plaza, a 157,459-square-foot shopping center in Brook Park, a suburb of Cleveland, for $10 million. The center is 87 percent occupied and anchored by an 82,000-square-foot Giant Eagle grocery store, which has a fuel station.
REYNOLDSBURG, OHIO — National Net Lease Realty has arranged the $4.8 million sale of a net-leased Walgreens property in Reynoldsburg. The 15,120-square-foot store was built in 2000 and is situated on 1.9 acres. Walgreens has eight years remaining on its lease, with an additional eight, five-year options to renew at the same rental rate. Terry Marks of National Net Lease Realty represented the buyer, Reynoldsburg WAG LLC, in the transaction. Transwestern Real Estate represented the seller, Reynoldsburg-W Investment LLC.
SAGINAW, MICH. — Party City has signed a lease for 13,874 square feet at Saginaw Square at Bay and Tittabawassee roads in Saginaw. Adam Goodman, Brad Rosenberg and Tony Schmitt of Mid-America Real Estate-Michigan Inc. represented the tenant in the transaction.
TOMS RIVER, N.J. — Diversified Equities Corp. has purchased the 10,205-square-foot AAA Mid-Atlantic Car Care Center in Toms River for $3.2 million. Gregory Panayoti of The Goldstein Group represented the buyer in the transaction. Berkeley Capital Advisors represented the seller, HNM Toms River LLC.
AUSTIN — Velocis has purchased West Woods Shopping Center and Springdale Shopping Center, two centers located in Austin totaling more than 350,000 square feet. The shopping centers are valued at approximately $60 million. The 189,340-square-foot West Woods is located at the intersection of Bee Caves Road and Walsh Tarlton Lane. The center is 97 percent leased to Stein Mart, Michael's, Petco and CVS/pharmacy, as well as a variety of local boutique shops. The 163,677-square-foot Springdale Shopping Center is located in northeast Austin near the new Mueller Airport redevelopment. H-E-B anchors the center, whose other tenants include Fashion Outlet, Carousel Pediatrics, Family Dollar and O'Reilly Auto Parts.
HOUSTON — Marcus & Millichap has brokered the sale of a Comerica Bank branch in Houston. Alvin Mansour of Marcus & Millichap's The Mansour Group in San Diego represented the seller, a developer, in the transaction. The buyer was a Southern California-based investor.
CEDAR HILL — Uptown Village at Cedar Hill, a 615,000-square-foot shopping center located at 305 W. FM 1382 in Cedar Hill, has added new tenants to its roster. Recent store openings include Wet Seal, PS from Aeropostale, Crazy8, Kid's Foot Locker and Christopher's Menswear. Journeys and DXL Men's Apparel will open new stores in December as well. In 2013, Kay Jewelers and Massage Envy will open new stores. In addition, The MGHerring Group, owner of Uptown Village, has installed three Electronic Vehicle (EV) charging stations at Uptown Village. Cedar Hill is currently the only city with EV charging stations between Dallas and Houston.
LAS VEGAS – Robert Graham has signed a lease to open a branded retail store at the Fashion Show Mall in Las Vegas. The store will offer the full Robert Graham collection. The Robert Graham store is set to open in spring 2013.
SURPRISE, ARIZ. — The Boulevard At Surprise Pointe, a 141,507-square-foot specialty/entertainment shopping center in Surprise, has sold to CIRE Investments for $17.5 million. The center is located on the southeast corner of Waddell and Litchfield Roads. It is 62 percent leased. Its anchors include Ultra Star Cinemas, Walgreens and Uptown Alley Entertainment Center. The Boulevard features eight strip-retail buildings and six land pads for future development. The seller, Karlin Real Estate, was represented by Ryan Schubert and Michael Hackett with Cassidy Turley Arizona’s Capital Markets Group. Brad Douglass and Chris Hollenbeck of Cassidy Turley Arizona’s Retail Group will act as the center’s leasing agents.