MISHAWAKA, IND. — Grubb & Ellis|Cressy & Everett has leased 80,890 square feet of space within the Indian Ridge Plaza, which is located at 5802 Grape Rd. in Mishawaka, to h.h.gregg and Bed Bath & Beyond. Construction is underway on the 42,280-square-foot h.h.gregg, which is expected to open in July. Bed Bath & Beyond will relocate to its 38,610-square-foot facility in the first quarter of 2009. Kimco Realty, the landlord, was represented in both transactions by Tim Mehall, Matt Creviston and Mindy Risser of Grubb & Ellis|Cressy & Everett.
Retail
CARROLLTON, TEXAS — Marcus & Millichap has completed the sale of Carrollton Shopping Center, a 14,950-square-foot retail property located at the corner of Old Denton Road and President George Bush Turnpike in Carrollton. The property is shadow-anchored by a Wal-Mart Supercenter. Gavin Kam and Brad Kam of the Dallas office of Marcus & Millichap represented the seller, a Michigan-based developer. The pair also procured the buyer, a Colorado-based development company. The acquisition price was not disclosed.
VIRGINIA BEACH, VA. — The Goodman Company has opened Landstown Commons, a 510,000-square-foot retail development located at Princess Anne and Dam Neck roads in Virginia Beach. Retailers at the center, which is 90 percent leased, include Kohl’s, Ross Dress For Less, Bed Bath & Beyond, PetsMart, Office Max and Best Buy. Approximately 38,000 square feet of office space has been constructed at the center, and is available for leasing.
BAINBRIDGE, OHIO — On behalf of a Bainbridge-based private investor, Marcus & Millichap has brokered the sale of a 9,100-square-foot Family Dollar in Bainbridge. The single-tenant retail facility was acquired by a New York-based investment group for $701,000 or $77 per square foot. Bill Settle, Stanton Falk and Joel Dumes of Marcus & Millichap’s Cincinnati office has represented the seller; the New York office of Marcus & Millichap has represented the buyer.
WAXAHACHIE, TEXAS — Marcus & Millichap has arranged the sale of The Marketplace at Waxahachie, a 100,044-square-foot shopping center located at 791 N. Highway 77 in Waxahachie. Situated on 11.4 acres, the building is anchored by Bealls, Hastings, Dollar Tree and Sleep Experts. Additional tenants include Cotton Patch Café and Double Dave’s Pizza. Samueal Herskovits and Gavin Kam of Marcus & Millichap’s Dallas office represented the undisclosed seller. The buyer also was not disclosed.
FORT WORTH, TEXAS — Dallas-based Henry S. Miller Commercial (HSMC) has brokered the sale of a 29,200-square-foot retail property located at 821-825 W. Vickery Blvd. in Fort Worth. The property was acquired by Stage West Theatre dba Allied Theatre Group. The theatre company previously had occupied 9,000 square feet within 821 W. Vickery Blvd. more than 20 years ago. Stage West Theatre will renovate the theater seating and dining area of the new property, now that it has control over the whole building. HSMC represented the Fort Worth-based seller, Marshall Robinson. The acquisition price was not disclosed.
RANCHO BERNARDO, CALIF. — CBRE Capital Markets has arranged a $62.5 million loan for Regency Centers for 4S Commons Town Center in Rancho Bernardo. Situated at the corner of Rancho Bernardo and Dove Canyon roads, the 265,609-square-foot Class A shopping center is anchored by Ralphs and Bed Bath & Beyond. The center is currently 99.5 percent occupied. The 9-year, interest-only permanent financing was provided by Allianz of America. Wayne Paulus of CBRE Capital Markets’ San Diego office and John Peterson of the company’s Portland office represented Regency Centers in the transaction.
LOS ANGELES — Robin Yi, Ryan Oh and Jason Kim of Coldwell Banker Commercial Wilshire Properties negotiated the disposition and acquisition of Little Tokyo Shopping Center in Los Angeles. A group of undisclosed investors purchased the property in an off-market transaction for $35.5 million. The buyer plans to renovate the property. The seller/developer was Richard Meruelo.
CHARLOTTE, N.C. — Ferncroft Capital has acquired Hunter’s Crossing, a 93,782-square-foot, grocery-anchored retail center, which is located in Charlotte, for an undisclosed amount. Tenants in the center include Lowes Foods, CVS/pharmacy, Dunkin’ Donuts and Wendy’s. Berkeley Capital Advisors LLC has represented the seller, Crosland LLC, which has been retained to lease and manage the property. Acquisition financing for Charlotte-based Ferncroft Capital was provided by Carolina First.
SPRING GARDEN, PA. — The York, Pa., office of Coldwell Banker Commercial | Bennett Williams (CBC) has completed the sale of Randolph Park Shopping Center, a 24,353-square-foot shopping center located in Spring Garden, for $4.3 million. The shopping center is situated on 1.88 acres along South Queen Street. CBC represented the buyer, New Jersey-based Randolph Park Associates, as well as the undisclosed seller.