LEXINGTON, MASS. — Stone River Properties has purchased the Marrett Square shopping center in Lexington for $2.52 million. Tenants at the 16,791-square-foot retail center include Anton's Cleaners and Boston Nail & Spa. The center is also located 1.5 miles from Interstate 95. Robert Tito and Gina Barroso of NAI Hunneman represented the seller, Camblex Realty Trust, in the transaction. They also procured the buyer.
STANTON, DEL. — Bernie Kenny of FSSC has purchased the First State Plaza in Stanton, a 164,779-square-foot shopping center. Kenny is the founder of Delaware Supermarkets, a company that operates five ShopRite supermarkets in Delaware. First State Plaza is anchored by a ShopRite supermarket and tenants also include Cinemark, Dollar Tree and the U.S. Post office. The new owner plans to renovate the property and include the installation of a bus shelter. Jeff Dunne of CBRE Group represented the seller, USRP I LLC, in the transaction.
PLANO — HFF has arranged $11.76 million in financing for the 138,154-square-foot Legacy Drive Village, a shopping center located at 7000 Independence Parkway in Plano. Kroger Signature anchors the 92 percent-leased center, which includes other tenants such as Domino's Pizza, Dunkin Donuts, Einstein Brother's Bagels, Palm Beach Tan and Subway. Travis Anderson of HFF arranged the 10-year loan through Prudential Mortgage Capital Co. on behalf of the borrower, a Cencor Realty Services joint venture.
DALLAS — Marcus & Millichap has arranged the sale of a 1,440-square-foot Starbucks, located at 3330 Oak Lawn Ave. in Dallas. Philip Levy of Marcus & Millichap's Fort Worth office represented the seller, a personal trust, in the transaction and procured the buyer, a partnership.
PHOENIX – A 3,078-square-foot property in Phoenix that is occupied by a Circle K Gas & Convenience store has sold to a family trust for $2,285,000. The single-tenant, triple-net leased retail property was built in 1987 at 1901 West Cactus Road. The transaction closed at a 7.35 percent cap rate. The buyer was represented by Jon Boland of Voit Real Estate Services in San Diego. The seller, D.E.E Holdings, was represented by Chris Maling and David Maling of Colliers International.
FRESNO, CALIF. – Family Dollar has leased 11,016 square feet of retail space in Fresno. The new location resides at 4027 N. Marks Ave. The property’s landlord is Lanmark Plaza, LLC. The transaction was executed by John Lee and Lewis Smith of Retail California.
LEXINGTON, S.C. — Ziff Properties has acquired the 23,000-square-foot Colonnade at White Knoll, a shopping center located at 1787 S. Lake Drive in Lexington, from BB&T Bank for $1.4 million. Bill Simerville of Cassidy Turley represented the seller in the transaction. The buyer was self-represented by Christian Chamblee.
WINDERMERE, FLA. — Orlando-based Roger B. Kennedy Inc. has broken ground on a new 45,350-square-foot LA Fitness, located at 4768 The Grove Drive in Windermere. Cuhaci & Peterson designed the multi-million dollar property, which is slated for completion in November.
DALLAS — Luby's Fuddruckers Restaurants LLC has sold a 11,516-square-foot former Luby's Cafeteria, located at Meadow Central Market at 10425 N. Central Expressway in Dallas. Larry Leon, Kelly Hampton and Ross McCook of Venture Commercial represented the seller in the transaction. Bruce Fry of Bruce B. Fry Co. represented the buyer, SRS Holdings.
FREDERICKSBURG — MIMCO Inc. has purchased the 69,000-square-foot Baron's Creek Shopping Center, located in Fredericksburg. The shopping center includes tenants such as Beall's, Dollar Tree and AT&T.