PHOENIX — Marcus & Millichap has brokered the $2.9 million sale of a Fry's Shops located at 4212 West Cactus Road in Phoenix. Built in 1990, the 17,055-square-foot retail property is 81 percent occupied by nine tenants. Marcus & Millichap’s Jesse Goldsmith and Steve Julius represented the seller, Bell Rd 67 LLC, in the transaction.
CONCORD, N.H. — Marcus & Millichap has brokered the sale of a 5,800-square-foot TGI Friday's located at 221 Loudon Road in Concord. The restaurant traded for $1.62 million at a 8.06 percent cap rate. TGI Friday's currently has 7.5 years remaining on a 10-year lease, which includes four 5-year renewal options with rent escalations. The Marcus & Millichap team of Robert Horvath, Adam Mancinone, Todd Tremblay and Blake Barbarisi represented the seller, Connecticut-based Crown Point Real Estate Investors. Emily McGranaghan of Boston Condo Group procured the buyer, Massachusetts-based 571-575 Broadway LLC.
TAMPA, FLA. — Marcus & Millichap has brokered the $1.42 million sale of a Discount Mini Storage location between two private parties. The property is located on 1.67 acres at 8323 W. Hillsborough Ave. in Tampa. Discount Mini Storage, which was built in 1998, is 68 percent occupied. Michael Mele of the firm's Tampa office brokered the sale.
ALEXANDRIA, MINN. — American Asset Management Services (AAMS) has acquired a Walgreens property in Alexandria for an undisclosed price. Located at 910 Broadway St., the 38,460-square-foot land asset includes a Walgreens store and adjacent land. The seller was Gendell Partners Alexandria LLC, an entity affiliated with Wilmette, Ill.-based Terraco. AAMS currently owns and operates 2 million square feet of retail space in six states.
LEXINGTON, KY. — Aldi Food Market has signed a 1.76-acre ground lease to occupy the former Man O' War Ford property in Lexington. The 18,800-square-foot space is located adjacent to Fayette Mall at 3695 Nicholasville Road. Aldi will open at the new space in August. Bruce Isaac of NAI Isaac Commercial Properties represented Aldi in the transaction. Caller Properties' Bret Caller and Ben Hall represented the undisclosed landlord.
GULF BREEZE, FLA. — Strategic Storage Trust has purchased a 280-unit self-storage facility from Seagreen Marine for an undisclosed amount. The 39,750-square-foot property, located at 4761 Gulf Breeze Parkway in Gulf Breeze, was developed in 2004 and 2005. National Real Estate Auction Group represented the seller.
LAS VEGAS — Dunbar Commercial represented Ashley Furniture in its $4.8 million purchase of a 37,707-square-foot free-standing retail building located at the Galleria at Sunset Mall in Las Vegas. Previously occupied by Linens Ôn Things, the property has been vacant for nearly 2 years. Bill Dunbar of Dunbar Commercial, an X Team International partner, represented the buyer, which will move from its 35,261-square-foot location at nearby Sunmark Plaza.
LAS VEGAS — Hanley Investment Group Real Estate Advisors has negotiated the more than $4.8 million sale of a four-tenant shopping center located at 1125-1175 East Charleston Blvd. in Las Vegas. Built in 2003 and 100 percent occupied at the time of sale, the 27,300-square-foot Family Place is home to 99 Cents Only, Burger King, Launderland and Moneytree. Hanley’s Eric Wohl and Edward Hanley represented both the buyer and seller — Commerce, Calif.-based 99 Cents Only Inc. and Family Place Station LLC of Salt Lake City, respectively — in the transaction.
MIAMI —Turnberry Associates has sold Biscayne Retail, a 75,000-square-foot shopping center, to DEER Capital for $15.25 million. The Miami property is anchored by Borders Books. Aztec Group brokered the sale and arranged $7.87 million in acquisition financing for the buyer.
DALLAS — Centro Properties Group has opened a 21,667-square-foot Save-A-Lot grocery store in its Jeff Davis Shopping Center in Dallas. The property is located at the intersection of West Jefferson Boulevard and North Plymouth Road. Venture Commercial Real Estate's Bryan Cornelius represented Save-A-Lot in the transaction. Centro Properties Group represented itself.