WEST ODESSA — A 6,446-square-foot AutoZone, a single-tenant, net-leased property, has sold in West Odessa. The buyer, a limited liability company, was secured and represented by Ray Germain, an investment specialist in Marcus & Millichap's Las Vegas office. The retail property is located at 420 N. County Rd.
HOUSTON — DriveTime has purchased the former Beck & Masten car dealership at 11205 Gulf Freeway in Houston. The 8.8-acre tract included a 22,339-square-foot showroom and maintenance facility. The buyer was represented by John Ferruzzo and Stephen Tou of NAI Houston. Christopher Klein of Colliers International represented the seller, Barnett Realty, Inc.
CHARLOTTESEVILLE, VA. — Dallas-based The Cogent Group has acquired 12 convenience stores and gas stations, totaling 21 acres in Charlottesville, all of which are leased to Charlottesville-based Virginia Oil Co. The purchase was part of a simultaneous transaction among The Cogent Group, VPS Convenience Store Group (an affiliate of Sun Capital Partners) and Virginia Oil Co. In conjunction with VPS's acquisition of Virginia Oil Co., The Cogent Group acquired Virginia Oil's fee-owned properties through a concurrent sale-leaseback transaction.
FORT LAUDERDALE, FLA. — Stiles has been selected to build the new 50,000-square-foot flagship store for West Marine, to be located at 2401 South Andrews Ave. in Fort Lauderdale. This will be West Marine's largest store. In January 2011, Stiles acquired the land with construction financing provided by Wells Fargo and has leased the space to West Marine on a long-term basis.
BRAINTREE, MASS. — Here Comes There Goes, a joint venture between Dinosaur Capital Partners and The Grossman Cos., has purchased a former Borders, located at 255 Grossman Dr. in Braintree, from Zaremba Group for $4 million. Andrew Bonica and Michael Hotarek of Newton, Mass.-based Eastern Retail Properties represented the buyer.
MISHAWAKA, IND. — Syndicated Equities has arranged the sale of a 3,592-square-foot, single-tenant property net-leased to Arby's in Mishawaka. The property was purchased by a Florida-based investor from an Indiana-based real estate developer for $1.34 million. Isaac Metzger of Syndicated Equities represented both parties in the deal.
EAST LANSING, MICH. — Mexican restaurant Famous Taco has opened its second location. The East Lansing restaurant's second location is within Haslett Village Square shopping center at the corner of Haslett and Marsh Road. The new restaurant totals 1,565 square feet. Its original location is on West Saginaw Highway. CB Richard Ellis provided landlord representation in the lease and manages Haslett Village.
HUNTLEY, ILL. — Crystal Lake, Ill.-based Gallant Building Solutions has been selected to build a new 8,000-square-foot Auto Tech auto service center in Huntley. The project will be Auto Tech's first newly built location. Completion is slated for the fall.
COLORADO SPRINGS, COLO. — Coyote Management, L.P. and Garrison Investment Group have acquired the Chapel Hills Mall in Colorado Springs, CO, through their affiliates. This super-regional mall boasts six anchors, including Macy’s, Sears, JCPenney, Dillard’s, Burlington Coat Factory and Dicks Sporting Goods. This acquisition will add an additional 1.2 million square feet to Coyote Management’s 3.3-million-square-foot portfolio, for a total of 4.5 million square feet of owned and managed properties.
BESSEMER, ALA. — Atlanta-based RCG Ventures has acquired the shopping center 59 West, located in Bessemer, right outside of Birmingham. Burke’s Outlet, Hibbett Sports and Shoe Show anchor the center. Marcus & Millichap represented the seller, a special servicer, and RCG was self-represented.