DOVER, DEL. — Marcus & Millichap has arranged the $3.3 million sale of a double net-leased Walgreens Pharmacy, located at 1205 S. State St. in Dover. Walgreens has 11 years remaining on its lease at the 12,000-square-foot property. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller in the transaction. Derrick Dougherty, also of Marcus & Millichap, represented the buyer.
FLOWER MOUND — Tom Thumb Food & Pharmacy plans to open a 59,000-square-foot Tom Thumb store in the 140,000-square-foot Cross Timbers Village, a mixed-use shopping center located at the southwest corner of Bruton Orand Boulevard and FM 1171 in Flower Mound. The new location will be Tom Thumb's fourth location in Flower Mound. The property will feature a drive thru pharmacy, fuel station and a Starbucks. Cross Timbers Village is owned by Direct Development.
WYLIE — Ross Stores will open a new, 22,000-square-foot facility, located at Woodbridge Crossing Shopping Center in Wylie. The shopping center is anchored by Super Target and Kohl's and includes retailers such as Rue 21 and Rack Room Shoes. Direct Development is handling the property's development.
DALLAS — Stream Realty Partners is planning to lease 40,000 square feet of office space at Trammell Crow Center, a 1.2 million-square-foot office tower located in Dallas' Art District. The 50-story tower's tenants include Vinson & Elkins, Baker Botts and PricewaterhouseCoopers. Stream Realty will move into the tower in fall 2012. The firm is expanding its Dallas office to the tower due its 30 percent growth since January 2011. Stream Realty was recently awarded the tower's leasing and management duties.
LAS VEGAS — Marcus & Millichap has arranged the $27.8 million sale of a 16,016-square-foot Walgreens, located at 3025 S. Law Vegas Blvd. on the Las Vegas strip. At a sale price of $1,736 per square foot, it is the most valuable single-tenant drugstore to ever trade in the U.S. Ray Germain of Marcus & Millichap's Las Vegas office represented the seller, a local real estate investment partnership, in the transaction. Sean Shahar Ziv of the firm's San Diego office represented the buyer, a foreign fund. Walgreens was in the 11th year of a 20-year, triple-net lease and prior to the close of escrow Germain negotiated an additional 10-year extension.
WINSTON-SALEM, N.C. — A 10,125-square-foot CVS/pharmacy, located in Winston-Salem, has sold for $3.45 million. The freestanding building is leased to CVS/pharmacy through Jan. 31, 2023. Terry Marks of New Hope, Pa.-based National Net Lease Investors represented the buyer, a Pennsylvania-based investor, in the all-cash transaction. The seller was a North Carolina-based developer.
CHAPEL HILL, N.C. — The 42,370-square-foot, 433-unit Ironclad Self Storage, located at 102 Vickers Rd. in Chapel Hill, has sold for $3.11 million. Joy Godbold of Percival McGuire Commercial Real Estate and Argus Self Storage Sales Network represented the seller, W. Mitchell, in the transaction. Phoenix-based Amerco Real Estate, the buyer, also purchased an additional 5 acres for future expansion.
LARGO, FLA. — Fort Lauderdale, Fla.-based Integra Real Estate Corp. has acquired a 10,300-square-foot shopping center, located at U.S. 19 and East Bay Drive in Largo. Tenants include FedEx Kinko's and Einstein Bros. Bagels. Joe Tyszko of Insite Real Estate represented the seller, a private investor, in the transaction. The buyer was self-represented by Michael Rechter.
BETHESDA, MD. — Silverspot has signed a 50,000-square-foot lease at the 1 million-square-foot Rock Spring Centre, a mixed-use development located along Old Georgtown Road and Rock Spring Drive in Bethesda. The Peterson Cos. and DRI Development Services plan to break ground this summer on the project, which will include 549,900 square feet of office space, 210,000 square feet of retail space, the 12-screen Silverspot movie theater, a 40,000-square-foot health club, a 200-room hotel and 161 residential units. Silverspot, which is slated for completion in spring 2014, will offer a full-service cafe and bar, lounge area and concession stand. Bill Miller and Alex Walker of Transwestern represented the development team in the transaction. Mathew Focht and Sierra Group represented the tenant.
KANSAS CITY, KAN. — The Boulder Group has arranged the $1.1 million sale of a triple net-leased Dollar General property at 2272 Quindaro Blvd. in Kansas City. The 9,100-square-foot Dollar General was built in 2012 and is leased to Dollar General for 15 years. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a high-net-worth investor from Chicago, in the transaction. A Midwest-based developer was the seller.
