BRUNSWICK, OHIO — The Cooper Commercial Investment Group of NAI Daus in Cleveland has brokered the sale of a retail center located at 55-67 Pearl Rd. in Brunswick. The 19,200-square-foot Forest Hills Plaza shopping center was 81 percent leased at the time of the sale. Winbury Group Ltd. has purchased the property from an undisclosed local seller for $1.2 million. Dan Cooper and Bob Havasi of NAI Daus represented the seller in the transaction.
GRAND PRAIRIE, TEXAS — Baltimore, Md.-based Prime Retail has completed leases for 20 new retailers at Prime Outlets – Grand Prairie, a $100 million, 485,000-square-foot outlet retail center owned and operated by the company in Grand Prairie. New tenants at the center, which is located at the interchange of Interstate 20 and State Highway 360, include: Aeropostale, adidas Outlet Store, Bass Outlet, BCBGMAXAZRIA Factory Store, Brooks Brothers Factory Store, Columbia Sportswear, Dooney & Bourke, Easy Spirit Outlet, GUESS, IZOD, Jones New York, Nike Factory Store, Nine West Outlet, Oakley, Perry Ellis, Reebok Outlet Store, Samsonite, Tommy Hilfiger, Totes/Sunglass World and Van Heusen. The new tenants will join previously announced anchors Neiman Marcus Last Call and Saks Fifth Avenue OFF 5TH when the project opens in time for the 2009 holiday season.
CHANDLER, ARIZ. — Phoenix-based Opus West has started construction on Mill Crossing, a 170,000-square-foot retail center located at the southwest corner of Gilbert and Germann roads in Chandler. The center will be occupied by a 104,000-square-foot J.C. Penney, a 10,180-square-foot Shoe Carnival and a 5,000-square-foot Sears, Roebuck and Co., as well as restaurants, including Ah-So Sushi, Teriyaki Experience and Berry Good Yogurt. Additionally, the center will feature stand-alone pads occupied by Commercia Bank, McDonald’s and Native New Yorker. Opus West Construction Corp. is serving as general contractor for the project; BDG and Opus Architects & Engineers are providing architectural services. Completion is slated for fall 2009.
BLUFFTON, S.C. — Hargray Communications has completed a sale/leaseback to Kiawah General Store LLC for a 17,000-square-foot call center building. The property is located at 5 Buck Island Rd. in Bluffton. Michael Carmody of Charleston, S.C.-based CB Richard Ellis Carmody brokered the transaction.
FORT LAUDERDALE, FLA. — Marcus & Millichap Real Estate Investment Services has brokered a Coral Gables, Fla.-based company’s sale of Victory Shopping Center to a Davie, Fla.-based investor for $1.27 million. Located at 3901 S.W. 16th St. in Fort Lauderdale, the 11,350-square-foot center is 100 percent leased. Tenants include Revelation Baptist Church, Smiley Wash Laundry and A Plus Linen Service. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented both parties in the transaction.
LAKE GENEVA, ILL. — AEI Capital Corp. has purchased a 30,162-square-foot Best Buy store located on a freestanding site within the Target-anchored Geneva Commons shopping center in Lake Geneva. The $6 million property was purchased for three of AEI Capital Corp.’s investment funds. The newly constructed Best Buy store opened in March. This is the third Best Buy store that AEI has invested in this year, with two more locations under contract to close before the end of the year.
NEWBURGH, IND. — Holland Construction Services has completed a 63,692-square-foot Schnucks grocery store within Bell Oaks Center in Newburgh. DESCO Group owns the newly constructed store, as well as another Schnucks location in Waterloo, Ill., which was recently completed by Holland. The company has constructed 22 Schnucks stores. In addition to the store, the $6.6 million project included the restructuring of the surrounding retail component. This was Holland’s first project in the state of Indiana.
BOSTON — Linear Retail Properties has acquired four retail condominiums, located within the Guildford Halls Condominiums building at the corner of Newbury and Clarendon streets in Boston’s Back Bay district, for $3.95 million. The four units, located at 108 Newbury St. and 220 Clarendon St., total 6,300 square feet, and are fully occupied by Tealuxe, Frank Stella Clothiers and Pour Le Corps Spa. The purchase was made in cooperation with Brookline, Mass.-based Farmer & Flier. Linear Retail has tapped Colliers Meredith & Grew to provide property management services, and Sam Hawkey of The Dartmouth Company to serve as exclusive leasing agent. The seller was not disclosed.
NEW YORK CITY — CB Richard Ellis (CBRE) has arranged the relocation of the relocation of the flagship dealership location of Mercedes-Benz USA. The automakers new 332,982-square-foot facility will be located at 770 11th Ave., between 53rd and 54th streets, on the West Side of Manhattan, New York City. It will feature 39,236 square feet of first-floor showroom and office space, 28,918 square feet of mezzanine space, and three below-grade levels averaging approximately 90,000 square feet each. The facility will sell the Mercedes-Benz and Maybach brands, as well as other smart brands from the automaker. It will also feature a service center, as well as used car sales. Completion is scheduled for 2011. The project is being developed by Two Trees Management Co. CBRE’s Michael Laginestra, Michael Geoghegan and Joan Meixner arranged the deal. Mercedes-Benz will be relocating from a smaller facility located at 41st Street and 11th Avenue, near the entrance to the Lincoln Tunnel. Terms of the deal were not disclosed.
NEW YORK CITY — Walgreens has held the grand opening for its 16,000-square-foot flagship store at One Times Square in Manhattan, New York City. The store will be located on the first three levels of the building. The highlight of the location is a 341-foot tall Walgreens billboard that will rise above the store. The 17,000-square-foot, LED-powered billboard is the largest of its kind in the nation. Walgreens had been previously located in the same Time Square space from the 1930s through 1970. The new store marks the 11th Walgreens in Manhattan and the 53rd in New York City. The pharmacy plans to open 30 more New York area locations within the next 3 years.