NORTHBROOK, ILL. — A 5,000-square-foot building leased to TD Ameritrade has sold for $3.2 million in Northbrook. Isaac Metzger and Jason Schwartz of Syndicated Equities represented the seller, 400 Investors LLC, an investment partnership, in the transaction. The buyer was a local investor completing a 1031 exchange.
SPRINGFIELD AND CHAMPAIGN, ILL. — Appliance and electronics retailer hhgregg will open two new stores in the Springfield-Champaign area today. The stores are located at 2501 Wabash Ave. in Springfield and 718 Town Center Blvd. in Champaign, Ill. The store will feature a wide selection of televisions, appliances and electronics as well as new product categories such as fitness equipment and furniture. About 120 new employees were hired to staff the stores.
PITTSBURGH — Rue 21, the teen apparel retailer, has hired Sabre Real Estate Group as its exclusive broker for Long Island. The Pittsburgh-based company, which operates two stores in Nassau and Suffolk counties, announced plans to open more than 12 stores in the region. Officials of Rue 21, which has 800 stores in 46 states, is also opening 120 stores nationwide this year. The chain is seeking well-located spaces ranging from 4,000 to 5,000 square feet.
PLANO — Bo Avery, an investor based in Texas, has purchased the 123,011-square-foot Ruisseau Village, a shopping center located at 3303 N. Central Expressway in Plano. Dan Avnery of Retail Realty represented the buyer in the transaction. Kelly West of C-III Realty represented the seller, Wells Fargo Bank, which acted as trustee for the registered holders of JPMorganChase Commercial Mortgage Securities Corp. C-III Asset Management serviced the transaction.
LAKELAND, FLA. — Ramco-Gershenson Properties Trust has acquired a 93 percent interest in the 183,842-square-foot Shoppes of Lakeland, a shopping center located in Lakeland, from its joint venture partner for $26 million. Michaels, Staples, Ashley Furniture, Petco and an anchor-owned Target anchor the center, which is 96.4 percent leased.
HUNTERSVILLE, N.C., AND NORTH CHARLESTON, S.C. — Hawthorne Retail has purchased two shopping centers for a total of $16.3 million. In Huntersville, the company purchased the 56,120-square-foot Northcross Commons for $3.91 million. The fully leased property is anchored by Food Lion. The company also acquired the 266,588-square-foot North Rivers Market in North Charleston for $12.39 million. The property is 87 percent leased, and the buyer plans to begin a major renovation in 2013. Rob Carter, Alex Quarrier, David Webb and Rebecca Levell of Berkeley Capital Advisors represented the seller, a public REIT, in the North Rivers Marketplace transaction.
TAMPA, FLA. — CBRE Group has arranged a $46.47 million acquisition loan for a six-property portfolio of shopping centers, located in Florida. The properties total more than 400,000 square feet, and include Corridors at Ponte Vedra in Ponte Vedra Beach, First Merritt Center in Merritt Island, Mandarin Oaks in Jacksonville, Publix at Holly Hill in Daytona, Publix at Summer Bay in Clermont and Regency Village in Orlando. Michael Strober, Amanda Valenti and Donald Jennewin of CBRE Group secured the seven-year loan with a 25-year amortization schedule through a life insurance company on behalf of the borrower, H&R REIT.
ST. LOUIS, MO. — hhgregg (NYSE:HGG), the Indianapolis-based appliance and electronics retailer, will open four new stores in Missouri on Thursday, Sept. 13. The stores will be located at 101 Gravois Bluff Dr. in Fenton, Mo.; 301 Costco Way in St. Peters, Mo.; 5925 N. Illinois in Fairview Heights, Ill.; and along Chesterfield-Airport Road in Chesterfield, Mo. The stores will showcase more than 100 HDTVs and 350 major appliances will be in stock. The locations will also feature new product categories consisting of fitness equipment and furniture. More than 240 employees have been hired to staff the new St. Louis area stores.
NEW YORK CITY — Zar Properties has purchased a 35,000-square-foot retail condominium building in Soho for $39 million. The property is located at 105-113 Wooster St. and the current tenant, Room & Board, has seven years remaining on its lease. The transaction also includes three residential loft apartments.
DALLAS — Studio Movie Grill plans to open its fifth Dallas/Fort Worth location at the 142,961-square-foot Keystone Park Shopping Center, located at the southwest corner of U.S. Highway 75 and Spring Valley Road in Dallas. Other tenants include El Chico, Micro Center, Bone Daddy's and Razzoo's. Rancho Keystone Park LP, owner of Keystone Park, plans to add several pad sites to the property as well. Dallas-based UCR handles leasing for Keystone Park.
