ALEXANDRIA, VA. — H&R Retail has arranged the sale of the 145,273-square-foot Alexandria Commons, located at 3117 Duke St. in Alexandria, from a local investor to American Realty Advisors. Giant and Staples anchor the center. The price was undisclosed. Michael Gorsage of H&R Retail's Washington, D.C., office represented both parties in the transaction.
ST. LOUIS, MO. — NorthMarq Capital has secured $2 million in permanent loan financing for an 18,950-square-foot retail building currently leased to Jo-Ann Fabrics, located at 6910 S. Lindbergh Blvd. in St. Louis. Jeff Chaney of NorthMarq's St. Louis office arranged the fully amortizing loan through Protective Life.
KINGSTON, N.Y. — The Hampshire Companies of Morristown, N.J., has acquired Hudson Valley Plaza, a 673,379-square-foot, two-tiered retail property at 401 Frank Sottile Blvd. in Kingston. The property sits on 43 acres and houses tenants such as Walmart, Lowe's Home Improvement Warehouse, Sam's Club, Michael's Arts and Crafts, Petsmart, Gander Mountain and Toys 'R Us. Chris Phaneuf of Eastdil Secured represented the seller, Pyramid Property Group, and The Hampshire Companies in the transaction.
DALLAS — An 8,338-square-foot retail center anchored by My Fit Foods has been purchased. The property sits at 4015 Lemmon Ave. in Dallas. Brad Cruickshank of The Woodmont Company represented the seller, LNR Partners, in the transaction. The buyer is a Dallas-based private investment firm and was self-represented.
DOUGLASVILLE, GA. — Phoenix-based Cole Real Estate Investments has acquired a 222,500-square-foot Wal-Mart Supercenter and a 129,500-square-foot Sam's Club, located on Concourse Parkway in Douglasville, for $32.8 million. The adjacent properties are both subject to individual 20-year leases scheduled to expire in 2019, with six, 5-year renewal options. Craig Johnson of Marcus & Millichap's Atlanta office along with Jeffrey Piccinelli of Cole represented the buyer. Johnson also represented the seller, a California-based investor.
LOS ANGELES — West Elm, a division of Williams Sonoma, has leased a 10,909-square-foot, single-tenant building at 8366 Beverly Blvd. in Los Angeles. The 15-year lease is valued at $6.5 million. Epsteen & Associates represented West Elm in the transaction. David Ickovics and David Aschkenasy of Commercial Asset Group represented the landlord, Brand Art LLC. CAG will also provide property management services to the building.
SAN DIEGO – The Torrey Corner Shopping Center has sold to 3 Tier Investments, LLC, for $6.1 million. Located in the San Diego submarket of Carmel Valley, the 13,344-square-foot Torrey Corner is anchored by Bank of America, Prudential Real Estate and Massage Envy, among others. Cassidy Turley’s Andrew Peterson, Bruce Schiff, Phil Lyons and Chad Iafrate represented the seller, Sorrento Hills Marketplace 2, LLC, in the transaction. The buyer represented itself.
MADISON, MISS. — CBL & Associates Properties has started construction on the 83,000-square-foot Phase II of The Forum at Grandview, located on Interstate 55 in Madison. Anchors of Phase II include ULTA, Homegoods, Petco and a national arts and crafts retailer along with 14,000 square feet of specialty stores. Completion is slated for summer 2012.
RICHMOND, VA. — The 19,276-square-foot Downtown Capital Ale House buildings, located at 619 and 623 E. Main St. in Richmond, have been purchased by Fezzer Holdings for $1.53 million. Bruce Bigger and Lee Warfield of Cushman & Wakefield/Thalhimer's Richmond office represented the seller, Super Duper Properties, in the transaction.
MONROE, MICH. — Phoenix-based Cole Real Estate Investments has acquired the 141,935-square-foot Telegraph Plaza Portfolio, a three-property portfolio located in Monroe, for $12.9 million. Ashish Vakhariya of Marcus & Millichap's Detroit office represented the seller, a national developer, and worked with Scott Holmes of Cole in closing the transaction.