COLUMBIA, S.C., AND MOORESVILLE, N.C. — Peter Couchell of NAI Earle Furman has brokered two retail sales in South and North Carolina. In the first transaction, Couchell represented the undisclosed buyer in the $1.08 million acquisition of a 9,014-square-foot retail investment in Columbia. Additionally, Couchell represented a New York-based corporation in the acquisition of a 3,545-square-foot retail asset in Mooresville. The property, which is occupied by AT&T, sold for $1.98 million. The sellers in both transactions were not disclosed.
Retail
MARQUETTE, MICH. — A California-based REIT has acquired a single-tenant, triple-net leased Best Buy property in Marquette. Located on a 4.81-acre site, the 30,040-square-foot building sold for $4.95 million. The property is long-term leased to Best Buy. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer. The seller was an undisclosed private partnership.
ST. PETERS, MO. — Myeng Park has purchased a 5,334-square-foot retail building in St. Peters. Pheasant Tracks sold the property, which is located at 1320 Triad Center Dr., for an undisclosed price. Carl Conceller of Coldwell Banker Commercial represented the buyer. The seller was represented by Cassidy Turley.
NEW YORK CITY — Discount grocer ALDI has opened its first New York City location. That store is located at 61-11 Junction Blvd. in Queens' Rego Park neighborhood. The grocer also plans to open stores in the Bronx and in the Long Island community of Bay Shore in the near future.
ALBUQUERQUE, N.M. — NAI Maestas & Ward Commercial Real Estate’s Jim Hakeem represented Twisters in the purchase of a 25,000-square-foot parcel of vacant land in the retail center located near the northwest corner of Paseo del Norte and Wyoming in Albuquerque. Terms of the deal were not disclosed. According to NAI Maestas & Ward, the acquisition will accommodate the fast-casual restaurant company’s 15th location.
ORLANDO, FLA. —The Lightstone Group, along with Paragon Outlet Partners, has acquired Festival Bay Mall, which is located at 5250 International Dr. in Orlando. Situated on 139 acres, the 750,000-square-foot shopping center sold for $25 million. Lightstone plans to reposition the asset. The property is currently occupied by a variety of tenants, including Bass Pro Shops Outdoor World, Cinemark 20 Theatres, Ron Jon Surf Shop, Sheplers Western Wear and Vans Skatepark.
COMMACK, N.Y. — NorthMarq Capital has secured $2.34 million in first-mortgage financing for Heatherwood Shopping Center, a 47,000-square-foot neighborhood retail property located at 6090-6136 Jericho Turnpike in Commack. The loan carries a 5.4 percent interest rate, a 10-year term and a 25-year amortization schedule. The lender was Sun Life of Canada. The NorthMarq team of Charles Cotsalas and Ernest DesRochers arranged the loan.
ROWLETT — Expo Retail Center, a 28,511-square-foot retail property located on Lakeview Parkway near Rowlett Road in Rowlett has sold. Rowlett Lakeview Investments, L.P., sold it to Lakeview Expo, Ltd., and Tommy Crowell and Stacy Standridge of Standridge Cos. The property is 61 percent occupied with tenants including Fuzzy's Taco Shop, Fresenius Medical Care and Amelia's Mexican Restaurant. Sean Byrne of Byrne Co. and Jason Byrne of Venture Commercial represented Rowlett Lakeview Investments, L.P. Doug Archer of POB Montgomery served as the receiver and special servicer for Midland Loan Services for a year and a half before the property changed hands.
DALLAS AND LEWISVILLE — Dallas-based SRS Real Estate Partners has represented Archon Group in its sale of a 4.8-acre tract of land to Centric Capital Partners. The site sits across from Prestonwood Town Center on the northwest corner of Monfort Road and Town Center Boulevard in Dallas. Centric Capital Partners intends to develop the land into four pad sites that will be put up for sale or lease. Mark Newman and Mark Reeder of SRS Real Estate Partners' Dallas-Fort Worth office represented Archon Group. In addition, Asbury Automotive Group has sold the former Saturn of Lewisville, located at 1515 S. Stemmons Fwy. in Lewisville, to Baum Auto Sales. The 4.05-acre lot includes a 19,400-square-foot building and the purchaser intends to operate an automotive sales facility. Newman and Ryan Johnson of SRS Real Estate Partners represented Asbury Automotive Group.
NAGS HEAD, N.C. — Todd Crouse of NorthMarq Capital's Raleigh, N.C., regional office has arranged $4.7 million in first mortgage financing for The Shoppes at 10.5 in Nags Head. The 48,718-square-foot, grocery-anchored retail center is located at 2515 S. Croatan Parkway. Major tenants include Food Lion and Monarch Bank. Financing was based on a 10-year terms with a 25-year amortization schedule. The loan funded by Genworth Financial.