ONALAKSA, WIS. — The Hampshire Companies has completed the disposition of a 134,900-square-foot retail building in Onalaska. Located at 1211 Crossing Meadows Dr., the property is fully leased to Sam's Club. Walmart, the tenant's parent company, acquired the property for an undisclosed price. Greg Dalton and Chris Bosworth of CB Richard Ellis (CBRE) represented the seller; Yoni Zvi, also of CBRE, represented the buyer in the transaction.
DERBY, CONN. — Marcus & Millichap has brokered the sale of Derby Shopping Center for $13.7 million. The 170,097-square-foot retail property is located at 500 New Haven Ave. in Derby. It comprises five single-tenant buildings on 16.8 acres. Tenants include anchor Lowe's Home Improvement Warehouse, Dunkin' Donuts, Burger King, Webster Bank and Dollar Tree. Adam Mancinone and Blake Barbarisi of Marcus & Millichap's New Haven, Conn., office partnered with Robert Horvath and Todd Tremblay of the firm's Boston office to represent the seller, a partnership of New York investors that redeveloped the property in 2008. The team also represented the buyer, a Connecticut-based private investor.
PENNSYLVANIA AND MASSACHUSETTS — Cedar Shopping Centers has exercised the buy-sell provisions in its joint venture with Canadian firm Homburg Invest. Cedar owns a 20 percent interest in the nine-property retail portfolio and Homburg owns the other 80 percent. First, Cedar is purchasing Homburg's 80 percent interest in Meadows Marketplace, a 91,538-square-foot property located in Hershey, Pa., for $5.3 million. In addition, Cedar will be selling its 20 percent interest in the other eight shopping centers to Homburg for a total of $9.7 million. The properties include, Fieldstone Marketplace in New Bedford, Mass.; Aston Center in Aston, Pa.; Scott Town Center in Bloomsburg, Pa.; Stonehedge Square in Carlisle, Pa.; Pennsboro Commons in Enola, Pa.; Ayr Town Cener in McConnellsburg, Pa.; Parkway Plaza in Mechanicsburg, Pa.; and Spring Meadow Shopping Center in West Lawn, Pennsylvania. All nine properties are grocery anchored. The portfolio has been valued at approximately $55 million over existing property-specific financing of approximately $102.42 million.
HURST — Texas Appliance Supply, a local residential appliance dealer serving both retailers and builders, has purchased a 71,000-square-foot retail building located at 840 Airport Fwy. in Hurst from Syms Corp. The appliance dealer will occupy 26,500 square feet of the property with 45,000 square feet still available for lease. Doug Jennings of the William C. Jennings Co. represented Texas Appliance Supply, while Richard Polishuk and Christopher Walker of the commercial retail division with The Weitzman Group represented Syms Corp.
CANTON, GA. — Marcus & Millichap has brokered the sale of Miracle Self Storage, which is located at 6380 Hickory Flat Highway in Canton. The 53,105-square-foot property sold for approximately $2 million or $37.66 per square foot. Stacey Gorman of Marcus & Millichap represented the undisclosed seller and undisclosed buyer in the transaction.
MIAMI — BankUnited has purchased a 10,397-square-foot building, which is located at 2159 S.W. 22nd St. in Miami. BF 2159 Coral Way LLC sold the property, which is situated on 29,391 square feet of land, for $2.8 million. David Preston of Newmark Knight Frank represented the buyer; Stephen Gaunt and Eric Gaunt of CresaPartners represented the seller in the transaction.
COLUMBUS, OHIO — Menards has acquired a 20-acre site at Columbus Corporate Center, which is located on East Broad Street at Rosehill Road in Columbus. The company plans to construct a 160,000-square-foot store on the site. This location will be Menards second store in Columbus. Additionally as part of the project, Brice Road will be completed to the north of the Menards site. CASTO brokered the transaction. Terms of the sale were not released.
DUNDEE, MICH. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.28 million credit-tenant lease loan for the acquisition of a retail property in Dundee. The asset is a 13,650-square-foot Walgreens location. Steven Wiltshire of MMCC's Portland, Ore., office arranged the financing. The loan is for 23 years with a 23-year amortization schedule and a fixed interest rate of 6.05 percent.
BROCKTON, MASS. — Paramount Partners has completed the sale of a Walgreens pharmacy in Brockton for $1.77 million. The property totals 12,536 square feet and is located at 1101 Main Street. Jay Nuss of Paramount represented the seller, Cindy Lou Realty Trust. Deborah Meyers, also of Paramount, represented the buyer, 1101 Main Brockton LLC.
AURORA, COLO. — Marcus & Millichap has brokered the $3.31 million sale of the 20,927-square-foot Office Depot at Southlands, a single-tenant, net-leased property located in Aurora. In the transaction, the brokerage firm’s Garrette Matlock represented the seller, a limited-liability company that developed the property.