TEMPLE HILLS, MD. — A Florida-based party has sold a 32,065-square-foot former Circuit City building to Beauty 4 U for $2.1 million. The property was built in 1991 on a 6.31-acre lot at the intersection of Branch Avenue and Hillcrest Parkway in Temple Hills. Circuit City vacated the building in January 2009. Peter Snell of Marcus and Millichap represented the seller.
Retail
NEWINGTON, CONN. — Electronics retailer P.C. Richard & Son has acquired a former Circuit City retail store in Newington for $3.3 million. The 40,850-square-foot building is located at 3440 Berlin Turnpike. Kim Mowers of Grubb & Ellis negotiated the deal between P.C. Richard the seller, a private investor.
PFLUGERVILLE, TEXAS — Cinemark Theaters has leased 30,000 square feet from NewQuest Properties in the Stone Hill Town Center. The property is located at the intersection of SH130 and SH45 in Pflugerville. NewQuest's Steven Alvis and Jay Sears represented the tenant. The firm's David K. Meyers and Heather Nguyen represented the company internally.
OXNARD, CALIF. — Hagelis Group has completed the sale of the 171,000-square-foot Target Plaza located at 150-300 W. Esplanade Drive in Oxnard. Listed for $15.1 million and anchored by Target and Food 4 Less, the regional shopping center is situated directly across the street from the 550,000-square-foot Esplanade shopping center. Bill Hagelis of Hagelis Group represented both the undisclosed buyer and the seller, KIR Oxnard LP, in the all-cash transaction.
NORCROSS, GA. — A Tampa, Fla.-based lender has traded the 78,600-square-foot Plaza Azteca shopping center to Live Oak Plaza LLC for $3.2 million. The property is located at 1600 Live Oak Parkway in Norcross and is 45 percent occupied. Marcus & Millichap brokered the sale.
OCALA, FLA. — Four Florida Shopping Centers has sold the 110,000-square-foot Oakbrook Plaza to a private buyer for $2.77 million. The Ocala property is anchored by Winn Dixie and Family Dollar. Reichel Realty represented the seller in the transaction.
NEW YORK CITY — Gateway Center at Bronx Terminal Market, an approximately 1 million-square-foot shopping center located in the Bronx, has received LEED Core & Shell – Silver certification. The designation makes the $500 million project, which was developed by Related Cos., the largest retail center in the nation to receive LEED-Silver. Sustainable features include a reflective roof, a stormwater filtration system and reserved parking for low-emissions and hybrid vehicles. During the construction phase, more than 30 percent of construction materials were sourced regionally, and more than 82 percent of the construction waste was diverted from landfills. Gateway Center is currently 95 percent leased to a tenant roster that includes BJ's, The Home Depot, Target, Bed Bath & Beyond, Marshall's, Raymour & Flanigan, Staples, Best Buy, Toys “R” Us/Babies “R” Us and Applebee's.
GRAPEVINE, TEXAS — Marcus & Millichap has brokered the sale of a 6,148-square-foot Buffalo Wild Wings Grill & Bar between two private parties for an undisclosed amount. The property is located at 1525 William D. Tate Ave. in Grapevine. The net-leased property has 10 percent rent escalations every 5 years, and the tenant has 10 years remaining on its lease. Craig Lewin and Patrick Giles of Marcus & Millichap represented the seller. The firm's Tommy Tucker and Vincent Knipp represented the buyer.
ROCKVILLE, MD. — Archbishop Phillip Hannan has sold a 3,657-square-foot McDonald's to a Maryland-based developer for $2.34 million. Located at the intersection of Viers Mill Road and Atlantic Avenue in Rockville, the property was built on 1.01 acres of land in 1998. Kirk Knight, Peter Snell and Benjamin Marks of Marcus & Millichap brokered the sale.
JOHNSTOWN, OHIO — Agree Realty Corp. has acquired a retail property, which is located at the intersection of West Coshocton Street and Clark Drive in Johnstown. The property sold for approximately $3.5 million. CVS/Caremark currently net leases the property, with 24 years remaining on the base term of the lease.