CHESTERFIELD TOWNSHIP, MICH. — Anytime Fitness has inked a lease for 5,000 square feet in Chesterfield Village Square at 27851 23 Mile Road in Chesterfield Township. Brad Rosenberg and Gabe Schuchman of Mid-America Real Estate-Michigan Inc. represented the landlord, 51382 Gratiot Avenue Holdings LLC, in the transaction.
BEDFORD, N.H. — P&P Realty Trust, a Massachusetts investment group, has acquired a 23,497-square-foot retail plaza in Bedford for $3.8 million. The center is anchored by Rite Aid, and additional tenants include Sleepy's and Radio Shack. Tom Fini of the Fini Real Estate Group represented the seller, RAD08 LLC, in the transaction. He also represented the buyer.
WILMINGTON, DEL. — Auto parts retailers Advance Auto Parts and Pep Boys recently signed new leases in Wilmington. Advanced Auto leased 6,000 square feet at The Depot, a freestanding building at 3405 Kirkwood Highway that was formerly a Blockbuster store. Pep Boys leased 5,000 square feet in the Villa Monterey Shopping Center at 729 Philadelphia Pike. Jim O'Hara of NAI Emory Hill represented the landlord, Gap 41 Ventures, in the Advanced Auto transaction. Jim O'Hara and Kevin O'Hara, also with NAI Emory Hill, represented Pep Boys in the Villa Monterey lease.
HEBRON, THE COLONY AND LOWRY CROSSING — Houston-based Spec's Wine, Spirits & Finer Foods has leased locations in Hebron, The Colony and Lowry Crossing. The Hebron store, located at 2401 W. Parker Road, spans 12,000 square feet and is now open. Sam Gruner of Hank Dickerson Co. represented the landlord, One Emsee, in the lease transaction. The Colony store, located at the northeast corner of State Highway 121 and Blair Oaks, spans 20,000 square feet and is projected to open in the spring of 2013. Tommy Crowel of The Standridge Company represented the landlord, Memorial 121 Land, LTD. The Lowry Crossing store, located at 4100 E. State Highway 380, spans 14,261 square feet and also serves as the Spec's Collin County distribution facility. Gruner represented the landlord, Big Tex Lowry Crossing. Jeff Brand of Brand Capital Partners, along with Jody Detmore of SFP Brokerage, represented the tenant in all three lease transactions.
BOISE, OREM, UTAH, MALIBU, CALIF. — Kennedy Wilson(KW) and its partners have recently acquired three Western-based retail properties for a total of $37.3 million. Its most recent acquisition was a 209,329-square-foot, multi-tenant retail center in Orem. It has also purchased 15,118 square feet of retail and office space in Malibu, as well as a 114,404-square-foot retail center in Boise. Partners in these acquisitions included The LeFrak Organization and Kennedy Wilson Fund IV, among others.
FREDERICKSBURG, VA. — Calkain Cos. has arranged the $2.9 million sale of a 2.08-acre McDonald's ground lease, located in Fredericksburg. The lease term is 20 years, with structured rent increases and renewal options. Andrew Fallon of Calkain Cos. represented the seller, a private family investment group, in the transaction. The buyer was a 1031-exchange, California-based buyer.
GLEN ELLYN, ILL. — Phillips Edison — ARC Shopping Center REIT has acquired Baker Hill Center, a 135,355-square-foot shopping center in Glen Ellyn, a western suburb of Chicago. Baker Hill is 98.2 percent occupied and anchored by a 72,397-square-foot Dominick's grocery store. Additional tenants include Gymboree and Nationwide. The acquisition brings the company's total portfolio to 20 properties with an aggregate purchase price of $222.6 million.
KILLEEN — Tarantino Properties has arranged the sale of the 58,300-square-foot Expressway Plaza, a shopping center located at 1500 Lowes Blvd. in Killeen. The property is currently fully leased. Nick Tarantino of Tarantino Properties' Austin office represented the seller in the transaction.
BONITA SPRINGS AND FORT MYERS, FLA. — RLR Investments has acquired the 106,454-square-foot Promenade at Bonita Springs, located at 26811 S. Bay Drive in Bonita Springs, and the 108,575-square-foot Island Park, located at 16520 S. Tamiami Trail in Fort Myers, for a total of $9.12 million. The buyer purchased Promenade for $5 million and plans to renovate the property in terms of maintenance and appearance. Tenants include Roy's Hawaiian Fusion, Molina's Ristorante and Robert of Philadelphia Hair Design. RLR Investments acquired Island Park for $4.12 million. Tenants include Mother Earth Natural Foods, Downtown Jerry's bar, Vincenzo's Pasteria, Coast Dental, Quizno's and The Clam Bake. Karen Johnson-Crowther of Colliers International represented the seller in the transaction. Donald DeLuca of Royal Shell Real Estate represented the buyer.
HUNTSVILLE, ALA. — GBT Realty Corp. has broken ground on a 72,000-square-foot Academy Sports + Outdoors, located at Highway 72 and Nance Road in Huntsville. This is GBT's third store with the retailer. Reed Construction is the site contractor and Stewart Perry Construction is the general contractor. Completion is slated for April 2013.