VERNON HILLS, ILL. — Hobby Lobby has signed a 46,984-square-foot lease at the Hawthorn Village Commons shopping center at 220 Townline Road in Vernon Hills. Additional tenants include Dollar Tree, Pearle Vision and El Famous Burrito. Inland Real Estate Corp., the property owner, was self-represented by Mike Fitzgerald in the transaction. The retailer is scheduled to open later this year.
PHOENIX – Goodwill has leased a 50,000-square-foot space at the northwest corner of Thomas Road and 32nd Street in Phoenix. The company will be expanding and relocating to this new space once it opens in early 2013. Goodwill was represented by Andy Kroot of Velocity Retail. The landlord, Bodega Latina Corporation, was represented by Ed Beeh and Robbie Petty of SRS Real Estate Partners.
BETHESDA, MD. — Walker & Dunlop has secured $8.25 million in permanent financing for the 62,800-square-foot Bethesda Corner, a two-level retail building located in Bethesda. Tyler Blue and Ted Hermes of Walker & Dunlop arranged the 10-year loan with a 25-year amortization schedule through a life insurance company on behalf of Washington Property Co., the borrower.
CANTON, OHIO — The 11,400-square-foot Jared Jewelers Center in Canton has sold to a private group in Youngstown, Ohio for $4.6 million. The building is fully leased and tenants include Jared The Galleria of Jewelers and Danner Dental. Dan Cooper of Cooper Commercial Investment Group represented the owner, a private investor from Cleveland, in the transaction. He also secured the buyers.
WILBRAHAM, MASS. — M. Dunitz Business Holdings Group, a Delaware-based limited partnership, has acquired the Big Y Plaza in Wilbraham for $18.1 million. The 63,850-square-foot Big Y supermarket opened at 2031 Boston Road in 2008. Shortly thereafter, a Red Robin restaurant opened on the site's outparcel. Matt Halprin of New England Properties represented the seller, Merchant Wilbraham LLC, in the transaction. Dan Barnes of Lee & Associates represented the buyer.
MONTVALE, N.J. — Life Time Fitness has closed on its purchase of One BMW Plaza, the 129,346-square-foot former BMW facility in Montvale. The Minnesota-based health and lifestyle club has recently obtained approvals to level the existing structure and construct a state-of-the-art fitness center on the site. Construction is slated to begin either later this month or early September. Robert Kossar, David Knee, Joel Lubin, Blake Chroman and Christopher Hile of Jones Lang LaSalle represented the seller, a group of charitable trusts, in the transaction. Kenneth Lundberg of NAI Hanson represented Life Time Fitness.
FORT WORTH — Marcus & Millichap has brokered the $7.14 million sale of a 12,738-square-foot CVS/pharmacy drugstore, located at 2603 W. Berry St. near the entrance to Texas Christian University (TCU) in Fort Worth. Lior Regenstreif of Marcus & Millichap's Encino, Calif., office represented the seller, a REIT, in the transaction. Scott Sandelin of Marcus & Millichap's Miami office represented the buyer, a private investor. Timothy Speck of Marcus & Millichap's Dallas office served as the firm's broker of record in Texas.
TORRANCE, CALIF. – A2,180-square-foot retail property in Torrance has sold to Bobecka LLC for $1.75 million. The free-standing building was constructed in 1973. Sheri Messerlian and Damon Wyler of NAI Capital’s South Bay office represented both the buyer and the seller, Rosenbaum, in this transaction.
CLAYTON, N.C. — Crosland Southeast plans to construct the first phase of the 125,000-square-foot Flowers Crossroads, located on Highway 42 in Clayton. The shopping center will be part of the 28-acre Flowers Plantation, a master-planned community. A 53,000-square-foot Harris Teeter will anchor the center. The first phase will break ground in the fall with completion slated for fall 2013.
MASON, OHIO — Squire Hill Properties II has acquired the Shoppes of Deerfield South, a 20,150-square-foot retail center in Mason, for $3.2 million. The center is 89 percent occupied and tenants include AAA, GameStop and SuperCuts. The transaction is Viking Partners' first disposition, which acquired 10 assets in its first fund. A team from Colliers International, including Steve Timmel, Jeff Johnston and Chris Prosser, represented Viking Partners in the deal.