MONTGOMERY AND UNION TOWNSHIP, OHIO — Cassidy Turley has brokered two transactions totaling approximately $2.07 million in Ohio. In the first transaction, ITIS Group purchased 32,000 square feet of retail space at 11033 Montgomery Road in Montgomery from National City Trust for $1.2 million. Andrew Sellet, Sean Wall and Mike Heekin of Cassidy Turley represented the seller in the transaction. In the second transaction, Clermont County Public Library has acquired 11,093-square-foot former Ryan’s Steakhouse, which is located at 4450 Ryan’s Way in Union Township. Figryanah LLC sold the property for $875,000. Sellet, Wall and Heekin represented the seller in the transaction.
LINDALE — GVentures LLC has sold Lindale Corners Shopping Center to a private party for an undisclosed amount. The 20,000-square-foot property is located on South Main Street in Lindale next to a Wal Mart and a Lowe's Home Improvement Center. The shopping center is fully leased.
TEMECULA, CALIF. — Grubb & Ellis has negotiated the sale of the 69,000-square-foot Temecula Creek Plaza, a retail center located at 31021 – 31141 Temecula Pkwy. in Temecula. Financial terms of the deal were not disclosed. Built in 2007 and 68 percent leased at the time of sale, Temecula Creek Plaza is anchored by CVS/pharmacy and Guaranty Bank. Grubb & Ellis’ Michelle Schierberl and Donald Ellis, with assistance from Robert Griffith of Financial Services Asset Management, represented the property’s receivership in the transaction, and William Meinhold of Swoboda Hospitality Specialists represented the private-investor buyer.
VOORHEES, N.J. — CB Richard Ellis (CBRE) Capital Markets has secured $12.6 million for the recapitalization of the Lowe's Home Improvement Warehouse located in Voorhees. The permanent loan is non recourse, self amortizing and carries a 5.47 percent interest rate. The lender is CTL Capital. The 168,382-square-foot Lowe's is located at 144 Route 73 North and is part of Cedar Hill Shopping Center. The property is subject to a ground lease. Enoch Lawrence and Rayna Karaivanov of CBRE Capital Markets arranged the transaction. The borrower's name was not disclosed.
DALLAS — Centro Properties Group has opened a 14,650-square-foot Anna's Linens store in Wynnewood Village Shopping Center. The property is located at the intersection of West Illinois Avenue and South Zang Boulevard in Dallas. Brian Heitzman is in charge of leasing the property for Centro.
IRVINGTON, N.J. — NAI James E. Hanson has brokered the sale of Valley Mall Plaza, a 160,000-square-foot shopping center located in Irvington, for approximately $4.25 million. The property is situated on 11.52 acres at 468-480 Chancellor Ave. It formerly served as the flagship location for Valley Fair department store. The new owner, Valley Mall Plaza LLC, plans to subdivide the space and lease it to multiple tenants. Renovations will be complete by spring 2011. Thomas Ryan and Barry Cohorsky of NAI Hanson represented both parties in the buyer as well as the undisclosed, Columbus, Ohio-based seller.
LOS ANGELES — In a multiple store site agreement, The Westfield Group and Costco Wholesale Corp. have announced the future addition of a 146,000-square-foot Costco to anchor Westfield’s proposed The Village at Westfield Topanga within the San Fernando Valley’s Warner Center business district in Los Angeles. The other two U.S. markets included in the agreement are Sarasota, Fla., and Wheaton, Md. The new Costco at The Village at Westfield Topanga is expected to open in late 2012.
ST. CHARLES, ILL. — Ryan Companies US Inc., serving as general contractor, is constructing a 31,400-square-foot Mercedes-Benz dealership and showroom in St. Charles for Resnick Automotive. Located at 225 N. Randall Road, the property will include an 8,600-square-foot showroom, a 17,900-square-foot service center and 3,700 square feet of office space. Additionally, the facility will offer 1,200 square feet of storage space. Gensler is providing architectural and design services while Aurora, Ill.-based Watermark Engineering Resources Ltd. is providing civil engineering services for the project, which is slated for completion in first quarter 2011.
HAYMARKET, VA., AND WASHINGTON, D.C. — Velmeir Cos., the preferred developer of CVS/pharmacy stores, has expanded into the D.C.-area market by opening two stores. A 13,013-square-foot CVS is located on Route 15 in Haymarket; the other, a 10,181-square-foot store, is located at the intersection of Georgia and New Hampshire avenues in Washington. The company is planning more stores in the area.
CHICAGO HEIGHTS, ILL. — Food 4 Less has leased 82,126 square feet of retail space at Lincoln Crossing, a shopping center in Chicago Heights. The property is located at the corner of Route 30 and Western Avenue. Food 4 Less plans to open a location at the center in spring 2011. Current tenants of Lincoln Crossing include GNC, Check ‘N Go and City Nails. Liz Krebs of Mid-America Asset Management represented the landlord, PERA Lincoln Crossing Inc., in the transaction. Terms of the lease were not released.