CALDWELL, N.J. — Marcus & Millichap has negotiated the sale of a 6,175-square-foot retail property located in Caldwell for $1.25 million. Seth Pollack of Marcus & Millichap's New Jersey office represented the seller, a local retail developer. David Thurston, also of Marcus & Millichap, represented the buyer, a local investor participating in a 1031 exchange.
Retail
PORTERVILLE, CALIF. — Retail West has negotiated the sale of the 81,000-square-foot Eastridge Plaza in Porterville to Vallarta Properties. The retail center includes a recently opened Vallarta Supermarket. Retail West’s John DuBois, Jon Gianulias and Mark Denholm represented the seller, a partnership including New York-based Kimco and Prudential.
COLUMBIA, S.C. — RCG-Northway has sold the 79,413-square-foot North Columbia Square shopping center to CRP II North Columbia Square for $4.6 million. Located at 5110 Fairfield Road in Columbia, the Food Lion-anchored property is 95 percent occupied. Additional center tenants include Rent-A-Center, Family Dollar, Rainbow Fashions and Shoe Time. Tim Giambrone of Marcus & Millichap's Atlanta office represented the seller.
MYRTLE BEACH, FLA. — Greenville, S.C.-based RealtyLink has brokered the $2.23 million sale of an 8,142-square-foot Bridgestone tire store between two private companies. The building, which was completed in February, is located 5 miles from the Myrtle Beach International Airport in Myrtle Beach. The tenant's 15-year lease carries 10 percent rent increases every 5 years.
MAUMELLE, ARK. — Marcus & Millichap has brokered the sale of a 1,750-square-foot Starbucks between two private investors for $1.11 million. The tenant has leased the space, which is located at 105 Commons Drive in Maumelle, through 2017. Gino Lollio, William Bennett and Andy Gallas of Marcus & Millichap's Chicago office represented the seller. Peter James of the firm's Los Angeles office represented the buyer. Clarence Cropper of the Montgomery, Ala., office also assisted in the deal.
DALLAS — Equinox Fitness Clubs has opened its second Texas location in Dallas. The 30,000-square-foot facility is located on Hillcrest Road in the city's Preston Hollow neighborhood. It features six fitness studios, a rooftop terrace and a water feature. Fitness club amenities include a retail store, a cafe, a kid's club, a full-service space, a fully amenitized locker room area and wireless Internet access.
ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of a 7,918-square-foot retail property located in Arlington. Situated at 2009 E. Copeland Road, the property is occupied by Texas Land & Cattle. It was built in 1997. Philip Levy and Jason Vitorino of Marcus & Millichap's Dallas office represented the seller, a limited liability company. Chad Knibbe and Marla Rhodes of Marcus & Millichap's San Antonio office represented the buyer, also a limited liability company. The acquisition price was not disclosed.
DOTHAN, ALA. — Aronov Realty Management of Montgomery, Ala., has started the development of Cottonwood Corners, a 63,000-square-foot shopping center anchored by a 45,600-square-foot Publix. The Dothan property will help generate approximately 200 jobs. Delivery is expected next fall.
BENTONVILLE, ARK. — Wal-Mart Stores Inc. has tapped Fort Myers, Fla.-based J.L. Wallace to remodel a Sam's Club store in Bentonville. The remodeling will only take place at night, which will keep the store fully operational during the project. Ronald D. Ress will serve as the architect, and Kimley-Horn & Associates will provide engineering services.
ORLANDO, FLA. — Simon Property Group has completed the development of a 150,000-square-foot outdoor promenade at The Florida Mall in Orlando. Forever 21 and Zara have opened in the property as well as a 25,000-square-foot H&M, which is one of the first in Florida. The Florida Mall houses more than 250 retailers, six department stores and six restaurants.