GULFPORT, FLA. — Southern Commercial Developers has acquired the 45,000-square-foot Gulfport Plaza Shopping Center from an undisclosed party for $1.3 million. The buyer is now undertaking renovations to the property, which is located at the intersection of 49th Street and 22nd Avenue South in Gulfport. A grand opening is planned for the summer. Family Dollar and Save-A-Lot anchor the property.
GILBERTSVILLE, PA. — The grand opening has been held for Douglass Town Center, a 90,000-square-foot shopping center located in Gilbertsville. A 70,000-square-foot Giant Food anchors the center, which was developed by Moorestown, N.J.-based Retail Sites. Other tenants include AT&T Wireless, Chinese Restaurant, Custom Cleaners, GameStop, Hair Cuttery and Hallmark. One shop space and one outparcel remain for lease.
AUBURN, CALIF. — Marcus & Millichap has announced the more than $6.35 million sale of a 14,550-square-foot Walgreens located at 12120 New Airport Road in Auburn. Marcus & Millichap’s Alvin Mansour represented the seller of the single-tenant, net-leased property, which is situated directly across from the 130,000-square-foot Auburn Village retail center.
GREER AND GREENVILLE, S.C. — RealtyLink has sold two Tuffy Auto locations to private buyers for more than $3 million. One 5,100-square-foot property, located adjacent to a Target center in Greer, was sold for $1.62 million. The other store, a 5,390-square-foot property in downtown Greenville, also sold for $1.62 million. The new stores were completed 2 years ago and are leased to the tenants on 20-year terms.
DANBURY, CONN. — Electronics retailer P.C. Richard & Son will open a new location in Danbury at 80 Danbury Road. A.J. Richard & Sons Inc. acquired a leasehold interest in the property, which was formerly occupied by Border's and Circuit City. An adjoining space controlled by Sleepy's Bedding Co. will also be incorporated into the new P.C. Richard store. Steven Spector of Interstate Realty Advisors and Bruce Wettenstein of Vidal/Wettenstein arranged the transaction. In addition, the brokers arranged a similar transaction in Milford, Conn., for a new P.C. Richard location.
SOUTHLAKE, TEXAS — Timarron Venture of Dallas has acquired the 36,284-square-foot Village at Timarron shopping center from a private party for an undisclosed price. The property is located at the intersection of Southlake Boulevard and Byron Nelson Parkway in Southlake. Tenants at the center include Frost Bank, Spa D'Aroma, Studio A, Hexter Fair Title Co. and Duncan Cleaners. JC Burciaga of The Weitzman Group brokered the sale.
CENTENNIAL, COLO. — IKEA has broken ground for its 38th store in the United States, a 415,000-square-foot location situated north of the Park Meadows area in Centennial. The Swedish home-furnishings retailer’s Denver-area store is scheduled to open in fall 2011. To be built on 13.5 acres along the western side of Interstate 25 with approximately 1,500 parking spaces, IKEA Centennial will be the first company store in the country to incorporate a geothermal component as part of its heating/cooling system.
TEMECULA, CALIF. — Faris Lee Investments has completed the $4.8 million sale of a two-tenant, 10,000-square-foot retail property located adjacent to the Temecula Promenade Mall at 40758 Winchester Road in Temecula. Built in 2000, the property is fully occupied by Verizon Wireless and The Vitamin Shoppe. Faris Lee’s Jeff Conover and Richard Walter represented Beverly Hills, Calif.-based Plaza Temecula LLC in its all-cash disposition to 1031-exchange buyer, R&R Real Properties of Los Angeles.
MIDDLEBURG HEIGHTS, OHIO — Design Studio, an embroidery, silkscreen and promotional company, has signed a 5-year lease for a facility in Middleburg Heights. Located at 6909 Engle Road, Suites 5, 6 and 7, the property offers 8,300 square feet of space. Pamela Bertovich of CRESCO Real Estate represented the undisclosed landlord in the transaction. Additional information about the transaction was not disclosed.
HARLINGEN, TEXAS — Bass Pro Shops is planning to open a new store, which will span between 130,000 and 150,000 square feet, in Harlingen during the second or third quarter of 2011. The property will serve as an anchor for the Cameron Crossing shopping center, which will be located at the intersection of U.S. Expressways 83 and 77. The Harlingen City Commission, the Harlingen Economic Development Corp. and Cameron Crossing's developers worked for more than 2 years to bring Bass Pro Shops to the project.