PFLUGERVILLE, TEXAS — Retail Solutions has brokered the sale of Creekside at Dessau, a 13,750-square-foot strip retail center located at 16051 Dessau Road in the Austin metro of Pflugerville. Built in 2009, the center is leased to tenants such as Baylor Scott & White, Tree House Kids and Moi Vietnamese Grill. Alan Rust of Retail Solutions represented the seller in the transaction and Steve Tong of Home Direct Realty represented the buyer. Both requested anonymity.
IMPERIAL BEACH, CALIF. — Retail Insite has arranged the $7.2 million sale of a Grocery Outlet store in the San Diego submarket of Imperial Beach. Retail Insite and HFF arranged the transaction on behalf of the seller, Sudberry Palm Avenue LLC. Tri Star Hotel Investments Inc. acquired the asset. Grocery Outlet anchors Breakwater Town Center, which is home to tenants such as Starbucks Coffee, Chipotle Mexican Grill, Five Guys, Wing Stop, Baskin Robbins, T-Mobile, Great Clips and Poke 1-2-3.
WAKE FOREST, N.C. — Charlotte-based Moseley Real Estate Advisors is underway on 981 Crossing, a 20,494-square-foot retail development in Wake Forest, roughly 18 miles northeast of Raleigh. The project is located off of Capital Boulevard, at the Target entrance. The center will house tenants such as Starbucks Coffee, Chipotle Mexican Grill, Kay Jewelers, Firehouse Subs, Mattress Warehouse and Freddy’s Frozen Custard & Steakburgers. John Lambert of Moseley Real Estate Advisors is handling leasing for the remaining 2,000-square-foot parcel. The center is slated for completion in June, with tenants expected to open in September.
DOWNERS GROVE, ILL. — Bianco Properties has acquired Main Street Square in Downers Grove for an undisclosed price. The 56,000-square-foot shopping center is located at the intersection of Butterfield and Finley roads near I-355. Tenants include Duluth Trading Co., H&R Block and Subway. This is Bianco’s fifth acquisition in the Chicago metro. Mid-America Real Estate Corp. brokered the sale on behalf of a Denver-based private investor, according to the Daily Herald.
POCATELLO, IDAHO — Millennial Development Partners has announced plans for Northgate District, a master planned community located in Pocatello, a city in southeastern Idaho. At completion, the development will feature 10,000 residential units; a 1 million-square-foot office/technology park that will support 6,000 jobs; a medical campus; and a shopping district. The residential portion of the community will include single-family homes, condominiums and apartments. Phase I of the project is set to include a retail center, the beginning stages of an Office IT Park and between 500 and 1,000 residential units. Groundbreaking on a new interchange and Phase I of the development is scheduled for later this year. Millennial has selected Coldwell Banker Commercial Advisors to lead commercial sales and leasing efforts for the development. The company has also partnered with Geomancer, a real estate investment startup that blends market analytics, GIS mapping services and data visualization via a software platform. Salt Lake City-based Millennial Development Partners specializes in multifamily, office, industrial, retail and master planned developments. The company has completed 100 real estate projects. — Katie Sloan
BOSTON — Avison Young Capital Markets has arranged a $47 million bridge loan for the gut renovation and repositioning of the Custom House Block and John Hancock Counting House located at 62-70 Long Wharf and 58-60 Long Wharf, respectively, in Boston. David Krasnoff and Michael Buckley of Avison Young secured the financing for the borrower, Capital Properties. The borrower plans to fully rehabilitate the properties, including converting the Custom House Block building into a modernized office space. The John Hancock Counting House is occupied by the Chart House restaurant.
NEW WINDSOR, N.Y. — Island Associates has arranged the acquisition of a retail property located at 170 Windsor Highway in New Windsor. An undisclosed buyer purchased the property for $5.7 million. Situated on 2.9 acres, the 7,254-square-foot property is net-leased to QuickChek and features 10 gas dispensers and a drive-thru car wash. Roger Delisle of Island Associates represented the buyer, while Matthew Gorman of CBRE represented the undisclosed seller in the deal.
SOUTH KINGSTOWN, R.I. — Sweeney Real Estate & Appraisal has arranged the sale of a retail property located at 84 Old Tower Hill Road in South Kingstown. BCP Capital Properties acquired the 4.97-acre site for $2.1 million. The site includes a 10,804-square-foot building. The buyer plans to redevelop the property into a retail and self-storage facility. Thomas Sweeney and Kevin Casey of Sweeney Real Estate & Appraisal brokered the transaction. The name of the seller was not released.
NEW BEDFORD, MASS. — An entity operated by Charterhouse Development Corp. has purchased a retail property located at 2100 Acushnet Ave. in New Bedford. HRES Acushnet sold the property for $1.9 million. CVS/pharmacy occupies the property.
LONG BEACH, CALIF. — Marcus & Millichap has facilitated the sale of a retail property located at 4411 Pacific Coast Highway in Long Beach. A partnership sold the property to an individual/personal trust for $6.6 million. Wells Fargo Bank occupies the 3,479-square-foot property under a 10-year, triple-net lease with five five-year options to renew. Kevin Boeve of Marcus & Millichap represented the seller, while Neema Ahadian, also of Marcus & Milichap, represented the buyer in the transaction.