AUSTIN, TEXAS — Cole Real Estate Investments has acquired Sunset Valley Homestead, a 147,841-square-foot power center in Austin. Anchor tenants include PetSmart, Babies “R” Us, DSW Shoe Warehouse and ULTA Beauty. The center is located 6 miles from downtown Austin, and is in close proximity to the University of Texas.
Retail
MARCO ISLAND, FLA. — Ariyan LLC has acquired a 6,000-square-foot property in Marco Island. Located at 551 Collier Blvd., the property sold for $1 million. The sellers were Dennis and Marilyn Downes. Doris Taylor of CB Richard Ellis’ Fort Myers/Naples, Fla., office brokered the transaction.
PRATTVILLE, ALA. — Marcus & Millichap has completed the disposition and sale of a retail property in Prattville. Located at the corner of Cobb’s Ford Road and Legend’s Parkway, the 3,388-square-foot property sold for $1.46 million. The property is currently occupied by AT&T Wireless. Alvin Mansour, Phil Sambazis and Edwin Greenhalgh of Marcus & Millichap represented the seller in the transaction; Andrew Chason and Matt Fitzgerald, also of Marcus & Millichap, represented the Florida-based buyer.
DES PERES, MO. — St. Louis-based Pinnacle Contracting Inc. is managing the renovation and upgrade of a former grocery store property into Des Peres Centre in Des Peres. Located on Manchester Road, the 58,000-square-foot former Schnucks grocery store building is receiving a new façade, a new roof and new site utilities. Kuhlmann Design Group is providing architectural services for the project, which is owned by The DESCO Group.
PALM BAY AND JACKSONVILLE, FLA. — Affiliates of Greensboro, N.C.-based Bell Partners have completed the dispositions of two retail properties in Florida. In the first transaction, an affiliate of Palm Beach Gardens, Fla.-based Brock Development acquired Bayside Lakes, a 44,270-square-foot, Publix-anchored retail center located at 3450 SE Bayside Lake Blvd. in Palm Bay. Additionally, a fund advised by Palm Beach Gardens-based North American Development Group purchased Riverside Market Square, a retail center anchored by a 27,888-square-foot Publix. The property is located at 2033 Riverside Ave. in Jacksonville. CB Richard Ellis’ National Retail Investment Group – Florida Investment Team represented the sellers in the transactions. Terms of the sales were not released.
LEWISVILLE, TEXAS — Pet retailer PetSmart has leased 35,106 square feet of space, occupying a former Linens 'n Things space within Vista Ridge Village, a 373,437-square-foot center in Lewisville. Steve Lieberman and David Fazio of The Retail Connection, along with Craig Wielansky of L3 Corp., represented the tenant, while Jennifer Reynolds of JenCo Realty represented the landlord, PO'B Montgomery. Terms of the lease were not released.
CASEYVILLE, ILL. — Swansea, Ill.-based Holland Construction Services has completed the construction of Ritchie Bros. Auctioneers’ new auction facility in Caseyville. Located on Old Country Inn Drive, the 40-acre site features a 13,557-square-foot auction facility with telescoping bleachers, overhead doors and virtual ramp screens for viewing off-site and stationary items. Bellevue, Wash.-based Mulvanny G2 Architects designed the facility.
CORPUS CHRISTI, TEXAS — Trademark Property is brining three new tenants to La Palmera, the $50 million renovation of Padre Staples Mall located on South Padre Island Drive in Corpus Christi. A 2,480-square-foot Coach and a 3,635-square-foot Zumiez will open this summer. A 1,000-square-foot Aveda retail store is also on tap for summer (the 15,533-square-foot Aveda Institute Corpus Christi will open this fall).
HOUSTON — Marcus & Millichap has brokered the $1.61 million sale of a 4,201-square-foot Taco Cabana restaurant in Houston. The property is located at 5930 Gulf Freeway. The firm's Edward Benton and Glen Kunofsky brokered the sale.
COLUMBIA, MD. — Madison Marquette has purchased a land parcel that includes a 90,000-square-foot retail property from a private party for $7.2 million and will build a 63,000-square-foot Toys 'R Us/Babies 'R Us store on the site. The 10-acre property, located in the Columbia Center II shopping center in Columbia, was formerly occupied by Home Expo Design Center. After the new tenant moves in, additional retail space will be available.