LOS ANGELES COUNTY, CALIF. — Voit Commercial Brokerage has completed two transactions, totaling $4.1 million, in Los Angeles County. In Downey, Calif., Benedict Partners LLC acquired a 23,200-square-foot property, which is located at 12406-12422 Benedict Ave., for $2.1 million. Rob Socci and Peter Castleton of Voit’s Anaheim, Calif., office represented the sellers, George and Margaret Maginn; Jeff Hubbard of Lee & Associates represented the buyer in the transaction. In a separate transaction, Guthrie Development Company completed the disposition of an 11,516-square-foot property, which is located a 7901 Somerset in Paramount, Calif., for $2 million. The property is located within the 158,000-square-foot Somerset Business Park. Louis Tomaselli, Mitch Zehner, Cameron Driscoll and Luke McDaniel of Voit’s Anaheim office represented the seller; Steve Bryant of Grubb & Ellis represented the buyers, Yungtai and Lisa Hsu.
JERSEY CITY, N.J. — Sperry Van Ness (SVN) has completed the sale of 440 Commons, a 162,533-square-foot shopping center, located on Route 440 in Jersey City, for $24.6 million. Situated on 15 acres, the property is fully occupied by The Home Depot and Raymour & Flanigan. Both tenants are currently paying below-market rents, with 5-year rent escalations built into their leases. The shopping center is located on the west side of Jersey City, in an area that is poised to undergo a massive redevelopment. Joseph French and Thomas Dalzell of SVN’s White Plans, N.Y., office represented the seller, Beachwood, Ohio-based Developers Diversified Realty, as well as the undisclosed buyer. The property traded at a 6.76 percent cap rate.
DEPTFORD, N.J. — The Philadelphia office of Marcus & Millichap has brokered the sale of a 5,000-square-foot retail building, located at 1188 Hurfville Rd. in Deptford, for $2.45 million. The two-tenant property, which was completed in late 2007, is occupied by FedEx/Kinko’s and The Vitamin Shoppe. At the time of occupancy, FedEx/Kinko’s signed a 5-year triple net lease with two 5-year extension options, and The Vitamin Shoppe signed a 10-year triple net lease with two 5-year extension options and scheduled rent escalations every 5 years. Mark Taylor, Dean Zang and Chris Munley of Marcus & Millichap represented the seller, 1188 Hurfville Associates LLC, which is an affiliate of EDEN Property Co. The trio also procured the private, out-of-market buyer. The property traded at a capitalization rate of 7.51 percent.
MALDEN, MASS. — Boston-based Fantini & Gorga has arranged $11.1 million in interim financing for Plaza 188, a 71,500-square-foot retail center located in Malden. Situated on 5.55 acres along Commercial Street, the property is anchored by grocer Super 88; other tenants include Ace Hardware, Brookline Bank, Dunkin Donuts and CitiFinancial. Additionally, the Social Security Administration will soon move its local offices into the center. There is currently 3,400 square feet of space still vacant within the center. Terms of the financing, as well as the borrower and lender, were undisclosed.
HERCULES, CALIF. — Jim Roessler of Roessler Investment Group represented the undisclosed seller in the disposition of Creekside Shopping Center in Hercules. A trade buyer purchased the property for approximately $5.83 million. The property offers 14,000 square feet of retail space.
WESLEY CHAPEL, FLA., AND HENRICO COUNTY, VA. — Forest City Enterprises and The Goodman Company have opened the 646,000-square-foot Shops at Wiregrass, located at the intersection of State Road 56 and Bruce B. Downs Boulevard. A 150,000-square-foot Dillard’s, a 140,000-square-foot Macy’s and a 98,000-square-foot JC Penney anchor the $156 million center. Restaurant tenants include The Brass Tap, GrillSmith, Moe’s Southwest Grill and Yamato Japanese Steak House. The Shops at Wiregrass is the retail component of the 5,022-acre Wiregrass Ranch mixed-use development. A division of Forest City Enterprises and partner Pruitt Associates have also opened The Shops at White Oak Village. Located at 4500 S. Laburnum Ave. in Henrico County, the $113 million project spans more than 900,000 square feet and 136 acres. Anchor tenants include Target, Ukrop’s, Lowe’s Home Improvement Warehouse, Sam’s Club, JC Penney, PetsMart, OfficeMax and Circuit City.
SEVIERVILLE, TENN., AND MACON, GA. — Atlanta-based RCG Ventures has purchased two shopping centers totaling more than 180,000 square feet. The company purchased the 135,491-square-foot Governor’s Crossing from CW Capital for an undisclosed price. The center, located on Collier Drive in Sevierville, is anchored by Books-A-Million and Vanity Fair Outlet. RCG has also acquired the 54,155-square-foot Fall Line Plaza, located on Rocky Creek Road in Macon, from an undisclosed party for an undisclosed amount. Fall Line Plaza is anchored by Piggly Wiggly and Family Dollar. Jim O’Donnell and Parker Blanchard served as in-house representation for RCG.
CUYAHOGA FALLS, OHIO — Michael Howard and Steve Hryszko of CB Richard Ellis’ Self Storage Advisory Group have arranged the acquisition of a self-storage property located at 4133 State Rd. in Cuyahoga Falls. SAMM Management, operating under the Storage Zone name, acquired the facility from State 8 Mini Storage for $1.3 million. The 28,700-square-foot building houses 180 units.
SANTA MONICA, CALIF. — Santa Monica-based 1550 5th St. LLC has purchased a 35,250-square-foot commercial property in Santa Monica. Located on the northwest corner of 5th Street and Colorado Avenue, the property was 100 percent occupied at the time of acquisition. Los Angeles-based Arthur Goode Family Trust sold the property. Terms of the transaction were not disclosed. Joseph Gabbaian and Guy Eisner of Grubb & Ellis’ West Los Angeles office, along with Kathleen Silver of Colliers International, represented both parties in the transaction.
WINCHESTER, VA. — JBG Rosenfeld Retail has purchased a 76 percent interest in Winchester Gateway and Stonewall Plaza from Bruce A. Grffin LLC, the developer of the centers, for an undisclosed amount. Griffin will retain a 24 percent interest in the properties. Located at the intersection of I-81 and Route 7 in Winchester, the 157,000-square-foot Winchester Gateway is anchored by Martin’s Grocery. The center, which is 94 percent leased, also houses PETCO, Fashion Bug, Sonic, Virginia ABC, Starbucks Coffee, Quiznos Subs and Curves. The 119,000-square-foot Stonewall Plaza, which is anchored by a 68,000-square-foot Martin’s Grocery, is located at the intersection of routes 37 and 522 in Winchester. The center is 89 percent leased and is home to Dollar Tree, McDonald’s, Quiznos Subs and Wachovia.