OAK BROOK ILL., AND GRAND RAPIDS, MICH. — On behalf of Barnes & Noble, David Metrick and Patrick Owens of Transwestern have arranged two leases totaling 83,231 square feet in Illinois and Michigan. In Oak Brook, Transwestern has negotiated a 10-year lease for a 42,583-square-foot store within the Oakbrook Center Mall. The Oakbrook Center Mall store is owned by General Growth Properties and is currently under construction. The store is projected to open in November. Additionally, in Grand Rapids, Barnes & Noble is relocating from 28th Street to Woodland Mall. The mall is owned by PREIT Properties. Barnes & Noble has signed a 40,648-square-foot lease for a 10-year term. The store is projected to open in the fourth quarter of 2009.
Retail
TOLEDO, OHIO — NAI Daus has brokered the sale of Wildwood Hollow Commons, a 15,681-square-foot retail center located in Toledo. A private investor in California has acquired the center from a private merchant developer for $4.15 million. Tenants at the property, which is 100 percent leased, include Caribou Coffee, FedEx Kinko’s, San Francisco Oven, Wireless Toyz and Snap Fitness. The Luttner Retail Group of NAI Daus represented the seller in the transaction.
ATLANTA — John Glass of Marcus & Millichap’s San Francisco office represented an undisclosed party in the sale of 12 Napa Auto Parts stores leased to Genuine Parts Co., which were listed at a sales price of $18.65 million. The properties are located in Bessemer, Ala., Florida City and St. Augustine, Fla., Lake City, Ga., Jackson, Miss., Charlotte, N.C., Midlothian, Va., Vancouver, Wash., and four other states. The stores are between 5,000 and 11,000 square feet, and the leases come with six 5-year renewal options. Rob Fox of Marcus & Millichap’s Atlanta office represented the buyer, and Marcus & Millichap employees in 11 states helped broker the transaction.
GEORGIA — Atlanta-based MetroGroup Development, a preferred developer of CVS/pharmacy stores in Georgia and Florida, is currently constructing two stores in Georgia and has plans for 16 more statewide. Construction is underway on CVS/pharmacy stores in Macon, Ga.’s Hartley Station and in Rome, Ga., at the intersection of Martha Berry Boulevard and North Rome Connector. In the next 2 to 12 months, MetroGroup will begin construction on two stores in Atlanta, three stores in Sandy Springs, Ga., and one store each in Braselton, Canton, Cartersville, College Park, Ellijay, Fairburn, LaFayette, LaGrange, Newnan, Sharpsburg and Tallapoosa, Ga.
HOLLYWOOD, FLA. — Deerfield Beach, Fla.-based SIKON Construction Corp. has completed a 96,000-square-foot Kohl’s department store. Located at 4999 Sheridan St. in Hollywood, the two-story building was designed by Tulsa, Okla.-based Scott & Goble Architects.
HUNTSVILLE, ALA. — Beverly Hills, Calif.-based O&S Holdings has leased a 42,000-square-foot building to The Sports Authority as part of the more than 150,000-square-foot second phase in Huntsville’s Bridge Street Town Centre. The store, located on the corner of Old Madison Pike and Governors West Drive, will open in fall 2009. The new tenant will join a 14-screen Monaco Pictures, a 210-room Westin Huntsville Hotel and 144,000 square feet of office space.
ORLANDO, FLA. — Dennis Carson and George Good of CB Richard Ellis have represented an affiliate of St. Petersburg, Fla.-based The Sembler Company in its sale of the 1.14 million-square-foot Winter Garden Village to an affiliate of Cole Real Estate Investments for an undisclosed amount. The open-air shopping center, located on 161 acres at the intersection of State Road 429 and State Road 535 in Orlando, is anchored by SuperTarget, Lowe’s Home Improvement Warehouse, Best Buy, Barnes & Noble, Marshalls and Staples. Michael Strober of CB Richard Ellis Capital Markets arranged financing for the transaction through Northwestern Mutual.
JACKSONVILLE, FLA., AND MANASSAS AND CHARLOTTESVILLE, VA. — Regency Centers Corp. has contributed three of its properties to Oregon Public Employees Retirement Fund, one of its co-investment partners, in a deal worth $83.4 million. The transaction included the Publix-anchored John’s Creek Center in Jacksonville, a center in Manassas anchored by Shoppers Food Warehouse and Hollymead Town Center in Charlottesville, which is anchored by Target and Harris Teeter.
TAMPA, FLA. — Les Aron, David Goldstein and Dan Wolf have represented both parties in the sale of the 150,210-square-foot Tampa Plaza from a Minnesota investor to a New York-based LLC for $4.41 million. The property, located at 8303 N. Florida Ave. in Tampa, was built in 1968 and is anchored by Kmart.
NEW YORK CITY — Eastern Consolidated has brokered the sale of a vacant retail condominium, located at 221-225 Center St. (aka 161 Grand St.) in New York City, for $4.5 million. The condo is located on the ground floor of an eight-story residential building. Ety Lee of Eastern Consolidated represented the seller, a Chinese developer. David Schechtman, Eric Anton and Ronald Solarz, also of Eastern Consolidated, represented the locally based buyer, which acquired the property in an off-market 1031 exchange. The property traded at a price of $1,125 per square foot.