OSPREY, FLA. — Fort Myers, Fla.-based J.L. Wallace Inc. has completed the construction of a CVS/pharmacy location at Blackburn Point and U.S. Highway 41 in Osprey. The 13,013-square-foot project includes a drive-thru area, an extensive aluminum storefront work, automatic glass doors, a prefabricated entry trellis, a single-ply roof system over lightweight concrete, building signage, a compactor enclosure and monument signs. Additionally, the project included extensive site work and the interior features detailed cabinetry, shelving, fixtures and graphics, security grills, an overhead door, resilient flooring, carpeting, coolers/freezers, a fire system and an alarm system. Robert Reid Wedding Architects and Planners provided architectural services for the project, while Foresite Group provided engineering services. The project was contracted with Armstrong Development Properties.
CHICAGO — A local private investor has acquired 1625 North Damen Avenue, an 8,768-square-foot multi-tenant property in Chicago’s Bucktown neighborhood. Current tenants include Potbelly’s and Nanette Lepore, a high-end women’s retailer. The undisclosed seller sold the property, which was formerly a firehouse, for $3.12 million. Kyle Stengle and Stephen Rachman of Marcus & Millichap’s Chicago Downtown office represented the seller; Marcus & Millichap’s Michael Marks and Evan Halkias represented the buyer in the transaction.
SANTA BARBARA, CALIF. — U.S. Bank has signed a lease for 5,708 square feet for a new branch in downtown Santa Barbara. The property is located at 936 State Street on the east corner of State and Carrillo streets. Candace Morey of Kennedy Wilson Properties represented the tenant; Michael Martz and Kristopher Roth of Hayes Commercial Group represented the landlord, Sobhani Family, in the transaction. Terms of the deal were not released.
KANSAS CITY, MO. — Westchester, Ill.-based Tri-Land Properties has started the redevelopment of Brywood Centre, an 183,464-square-foot retail center along 63rd Street in Kansas City. A recently renovated Price Chopper anchors the center. Additionally, Dollar Tree has signed a 10-year deal to occupy 12,000 square feet of space. The renovation project includes a new building façade, exterior parking lot upgrades, and the construction of six outlot pads. Completion of the project’s first phase is slated for spring 2011. The redevelopment project is partially funded by Tax Increment Financing and a Community Investment District totally $10 million.
HUMBLE, TEXAS — Cole Real Estate Investments has purchased the 306,890-square-foot Atascocita Commons shopping center in Humble from Trammell Crow Co. for $56.5 million. The property, which is 98.5 percent leased, houses Kohl's, TJ Maxx/HomeGoods and other regional and national tenants. Clint Marchuck served as in-house representation for Cole. William Kent, Ryan West and Gary Lawrence of CB Richard Ellis represented the seller.
OLATHE, KAN. — McShane Construction Co. has recently completed the construction of a 13,255-square-foot CVS/pharmacy retail store in Olathe. Construction of the property began in September 2009 and the location celebrated its grand opening in June. The property features retail space, a L-shaped walk-in cooler and a fully operational pharmacy with a customer drive-thru lane. Cedarwood Architectural Inc. provided architectural services for the project, which was developed by CDI Development.
NEW YORK CITY — Massey Knakal Realty Services has arranged the sale of an approximately 12,100-square-foot retail building in Brooklyn's Brighton Beach neighborhood for $4.8 million. The two-story property is located at 1113-1123 Brighton Beach Ave. It contains seven spaces, six of which were occupied at the time of closing. Massey Knakal's Brian Hanson and Valentin Presnov represented the undisclosed seller. The buyer was a Russian investor.
EL CAJON, CALIF. — Westfield America LP has purchased the former 85,758-square-foot Mervyn’s building, located at 565 Fletcher Parkway in El Cajon, for an undisclosed amount. The two-story retail building is part of Westfield’s Parkway Plaza regional mall and features four storefront entrances, including internal mall access. Cushman & Wakefield’s Nick Alford and Pete Bethea represented the seller, DDR MDT MV El Cajon LP, in the transaction; the buyer represented itself.
COLORADO SPRINGS, COLO. — Grubb & Ellis|Quantum Commercial Group has negotiated the more than $1.4 million sale of a 9,200-square-foot retail building located at 1795 & 1805 E. Cheyenne Mt. Blvd. in Colorado Springs. Grubb & Ellis’ Candace Seaton represented the seller, Fazio’s, and Phil Hicks of David Hicks Lampert represented the buyer, DCL-Lake LLC. Situated on 37,175 square feet of land, the development consists of the Eye Care Center of Colorado Springs and a space formerly occupied by Blockbuster.
ATLANTA AND ROSWELL, GA. — The Hayman Co. has sold two Georgia shopping centers for $4.26 million to AT Altus Roswell GA. The 38,937-square-foot Crossing at Roswell traded for $2.16 million. The property, located at 690 Holcomb Bridge Road in Roswell, is 33 percent occupied. In Atlanta, Hayman sold the 33,200-square-foot Shops at Cumberland Place, located on Cumberland Boulevard, for $2.1 million. The property is 30 percent occupied. Elliott Kyle of Shane Investment Property Group represented the buyer in both deals. Transwestern's Jon Kleinberg represented the seller.