VINCENNES, IND. — A 12,414-square-foot shopping center shadow-anchored by a Walmart has been sold in Vincennes. Situated on 1.84 acres at 630 Kimmel Rd., the property is tenanted by Verizon Wireless and Sun Tan City. Christopher Hake of Thompson Thrift represented the seller, Old National Bank. Ryan Sarbinoff of Marcus & Millichap represented the buyer, Kimmel Square LLC. The acquisition price was not disclosed.
SOUTHINGTON, CONN. — Jones Lang LaSalle (JLL) has brokered the sale of Queen Plaza, 172,000-square-foot shopping center located in Southington. The property is anchored by TJ Maxx and Bed Bath & Beyond; additional tenants include Bob’s Discount Furniture, Dollar Tree, Fashion Bug and Radio Shack. Occupancy was 97 percent at the time of closing. The buyer, R.K. Associates, has subsequently renamed the property RK Queen Plaza. JLL brokers Jim Koury, Nathaniel Heald and Robert Borden represented the seller, Centro Properties Group, and procured the buyer. The acquisition price was not disclosed.
ROCKLEDGE, PA. — Conshohocken, Pa.-based Equity Retail Brokers has completed the sale of a 38,000-square-foot neighborhood shopping center located in Rockledge. Situated on approximately 2.25 acres at 410-412 Huntingdon Pike, the center is anchored by Blockbuster Video; additional tenants include Pennsylvania Wine & Spirits, Acker’s Hardware and Vincent’s Pizza. Bart Delfiner and Edward Ginn of Equity Retail Brokers represented the undisclosed seller. Good Rock Realty Partners purchased the center and plans to continue day-to-day operations.
LOS ANGELES — Ryan Noto Ventures has purchased a 14,270-square-foot building from Seward Property Investments for $4.3 million. The property is located at 712 Seward St. in Los Angeles. Klabin Co./CORFAC International’s Keith Fielding represented the buyer, and Grubb & Ellis’ Martin McDermott represented the seller.
BOYERTOWN, PA. — Retail Sites LLC has started construction on Douglass Town Center, a 90,000-square-foot shopping center in Boyertown. The project is located on an 11-acre site at the intersection of Route 100 and County Line Road. Tenants include a 70,000-square-foot Giant Foods Supermarket, a Hallmark Gold Crown Card store, Hair Cuttery and a dry cleaner. This will be Giants second new store in the Route 100 corridor. Three to four additional stores and an out-parcel for a bank or restaurant are also available. Additional improvements include a significant realignment and reconstruction of County Line and Holly Roads.
EXETER, N.H. — The Kane Company has completed the sale of a 2-acre lot located in the Garrison Glen Corporate Park at 7 Continental Dr. in Exeter. The land was purchased by Holding Court, LLC from Garrison Glen, LLC. The new owner plans to develop the property into an indoor tennis facility. Peter Billipp and Lisa Kane of The Kane Company represented the seller and Florence Ruffner of Ruffner Real Estate represented the buyer. The sale price was not disclosed.
MILPITAS AND FREMONT, CALIF. — Newmark Realty Capital Inc. has arranged permanent financing for two multi-tenant, triple-net leased retail properties in the East Bay area. Terri Slocombe of Newmark secured the financing through The Standard for Dempsey Plaza in Milpitas and Irvington Plaza in Fremont. The 16,268-square-foot Dempsey Plaza, which is located at the intersection of Interstate 680 and Landess Avenue, received $1.2 million in permanent financing. Irvington Plaza, a 21,000-square-foot center, received $1.4 million in financing.
SMYRNA, GA. — Westchester, Ill.-based Tri-Land Properties has set a construction date of early next year for its redevelopment of the 152,578-square-foot The Crossings at Four Corners shopping center. The property is located at the intersection of South Cobb Drive and Concord Road in Smyrna. A 92,000-square-foot Kroger Marketplace will anchor the center, which is expected to deliver in early 2011.
ESTERO, FLA. — Fort Myers, Fla.-based J.L. Wallace has finished a 3,773-square-foot SunTrust Bank branch in Estero. The property is located at 3501 Vanderburg Way and includes an elevated entry, concrete roof tile and foam moldings. CPH Engineers worked on the project, and Robert Reid Wedding Architects and Planners provided architectural assistance.
MONTECITO, CALIF. — Santa Monica, Calif.-based J.S. Rosenfield & Co. has purchased the 30-year ground lease from Pacific Capital Bank for the Coast Village Shopping Center in Montecito. The buyer plans to convert the 45-year center into a country market. The 40,000-square-foot is currently 50 percent leased by Von’s, Santa Barbara Bank & Trust, and a variety of restaurants and retailers. The company plans to spend approximately $1 million to preserve and renovate the property. Improvements include replacing the existing roofing, new paint, appropriate landscaping and public eating areas, and new architectural elements, including signage, lighting, awnings, canopies and benches. Completion is expected by year’s end.