SUPERIOR, WIS. — Cleveland-based NAI Daus and Brookfield, Wis.-based NAI MLG have brokered the sale of a freestanding building triple net leased to Kmart, which is located at 3015 Tower Ave. in Superior. An undisclosed Boca Raton, Fla.-based buyer has acquired the 87,407-square-foot store from Zeisler Morgan Properties Ltd. The property was sold for approximately $2.24 million. Dan Cooper and Bob Havasi of NAI Daus’ Cooper Commercial Investment Group represented the seller in the transaction.
WEBSTER AND HUDSON, MASS. — Jones Lang LaSalle (JLL) has completed the sale of a two-property retail portfolio in two separate transactions totaling $27.88 million. The first property is Price Chopper Plaza, a 101,000-square-foot shopping center located in Webster. The property is anchored by Price Chopper Supermarket, with additional tenants including Papa Gino’s, D’Angelo’s, and freestanding CVS/pharmacy and Burger King locations. It was acquired by Cedar-Webster LLC for $17.58 million. The brokers were not disclosed. The second property is Washington Square Plaza, a 46,512-square-foot strip center located in Hudson. The center was 98 percent occupied at the time of closing; tenants include CVS/pharmacy, Family Dollar, Applebee’s, Dominos Pizza, and Dunkin’ Donuts. Jim Koury and Nathaniel Heald of JLL represented the undisclosed seller and the buyer, RK Associates, in the $10.3 million transaction. The property traded at a price of $222 per square foot.
SAN ANTONIO — Marcus & Millichap Capital Corp. has arranged a $10.6 million loan for the refinancing of Bandera Heights, a 159,528-square-foot retail center located at 7098-7102 Bandera Rd. in San Antonio. Sharone Sabar of Marcus & Millichap’s Encino, Calif., headquarters office arranged the financing on behalf of the undisclosed seller. Terms of the loan include a 5-year term with a 30-year amortization schedule, a 65 percent loan-to-value ratio and an adjustable interest rate priced at the 1-month LIBOR plus 310 basis points.
MESA, ARIZ. — Barclay Holdings XXXVI LLC has completed the disposition of Fry’s Marketplace, a destination grocery-anchored shopping center in Mesa. Danny Campbell, et al, has acquired the 20,669-square-foot property for $7.6 million. The center is located at the southeast corner of Stapley Drive and McKellips Road. Jan Finchman and Patrick Dempsey of Lee & Associates Arizona represented the seller; Ryan Schubert of Grubb & Ellis|BRE Commercial represented the buyer in the transaction.
WELLINGTON, FLA. — Rockville, Md.-based Federal Realty Investment Trust has acquired the 127,000-square-foot Courtyard Shops, located at 13860 Wellington Trace in Wellington, from an institutional owner for $37.9 million. The 18-year-old center is anchored by a 49,000-square-foot Publix and underwent an expansion in 1998.
HENDERSONVILLE, TENN. — Bill Settle, Stanton Falk, Joel Dumes and Anne Williams of Marcus & Millichap have represented a private party in the sale of the 26,026-square-foot Indian Lake Market Shops to an undisclosed buyer for $6.5 million. The property, which was built last year at the intersection of North Anderson Lane and Indian Lake Boulevard in Hendersonville, is fully occupied. The buyer of the Wal-Mart Supercenter-anchored property was represented by Nashville, Tenn.-based Charles Warner.
INDIANAPOLIS — Thompson Thrift has brokered the sale of a 13,198-square-foot former International House of Pancakes located at 1529 N. Meridian St. in Indianapolis. GB Indiana 2 LLC has acquired the building from IL & IN Restaurant Realty LLC for an undisclosed amount. The buyer plans to construct a 12,900-square-foot CVS/pharmacy on this site and adjoining properties. Tony Orlando of Thompson Thrift represented the seller in the transaction.
FORT WORTH, TEXAS — Jones Lang LaSalle (JLL) has brokered the purchase of a former Carnival Food Store, located at 1719 8th Ave. in Fort Worth. Situated on more than 2 acres, the two-building, 28,000-square-foot property was acquired by Cook Children’s Health Care System, which plans to substantially renovate the property. Ryan Matthews and David Walters of JLL represented Cook in the transaction. The undisclosed seller was represented by Quine & Associates. The purchase price was also not released.
CENTENNIAL, COLO. — Sweden-based IKEA has submitted plans to develop a 400,000-square-foot IKEA store in Centennial. The proposed project would be built on 13.5 acres along the western side of Interstate 25 within the Park Meadows area. IKEA Centennial would feature approximately 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children’s play area and a 350-seat restaurant serving Swedish specialties. The development timeline will be determined at a later date.
DAYTON, OHIO — Centro Properties Group has unveiled its $15 million redevelopment of South Towne Centre, a retail center located at the intersection of Miamisburg-Centerville Road and Route 675 in Dayton. Christmas Tree Shops has announced plans to open its first Midwest store within the center. The 32,000-square-foot store, which will open later this year, will occupy the remaining portion of the 98,000-square-foot former Kmart building. The $15 million redevelopment project included site improvements and upgrades. Burlington Coat Factory, Jo-Ann Fabrics & Crafts, PetSmart and Value City Furniture are among the new retailers at South Towne Centre. A 4,200-square-foot Fifth Third Bank is currently under construction and is scheduled to open this year. Various existing tenants at the center have undergone façade renovations.