Hutchinson, Kan. — Marcus & Millichap has brokered the $6.5 million sale of an 87,119-square-foot retail property in Hutchinson, about 50 miles northwest of Wichita. Hobby Lobby and Bomgaars occupy the building. Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company.
Dallas — Russell Glen Co. will develop a 50,000-square-foot Tom Thumb at The Shops at RedBird, the mixed-use redevelopment of Southwest Center Mall in Dallas. Construction is scheduled to begin later this year, with the opening planned for summer 2024. Terrence Maiden of Russell Glen and co-developer and investor Peter Brodsky are leading the redevelopment of the property, which has included $250 million of investment to date. An additional 30,000 square feet of adjacent retail and restaurant space is under construction at the development.
Fenton and Howell, Mich. — A three-property car wash portfolio in Michigan has traded hands for an undisclosed price. The portfolio includes a Lake Effect Auto Wash in Fenton, a Lake Effect Auto Wash in Howell and a Classic Auto Wash in Howell. Garrett Monroe of Calder Capital provided merger and acquisition services on behalf of the seller, Fenton-based The Mechigian Auto Washes. Troy-based Ace Auto Wash was the buyer.
Goodyear, Ariz. — A joint venture between RED Development and Globe Corp. has released plans for GSQ, a 150-acre mixed-use development located in Goodyear, approximately 15 miles west of Phoenix. Groundbreaking on the project is proposed for next year. Plans include retail and entertainment space, restaurants, multifamily communities, office space and a hotel. GSQ will complement the Goodyear Civic Square at GSQ development, which Globe Corp. completed in August 2022. Goodyear Civic Square features a new city hall building, two-story library, two-acre community park, office space and retail space. “Our …
Pittsburgh — Friedman Real Estate has negotiated the sale of a 150,000-square-foot retail property located in Pittsburgh. The property, which is situated within Washington Crown Center Mall and formerly housed a Macy’s department store, was fully occupied at the time of sale by M@C Discount, which specializes in reselling returned retail items. Steven Silverman of Friedman Real Estate represented the undisclosed buyer in the transaction.
Fremont, Calif. — JLL Capital Markets has brokered the $40.5 million sale of two retail centers located in Fremont. The first property, Franciscan Center, comprises 106,840 square feet and the second, Mohave Center, totals 10,228 square feet. Together, the centers were 92 percent leased at the time of sale to tenants including Safeway, Taco Bell, KFC, Burger King, Bank of America and 7-Eleven. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Eric Kathrein of JLL represented the undisclosed seller in the transaction. Sterling Organization acquired the properties.
Suwanee, Ga. — CBRE has arranged the sale of The Village Shoppes at Windermere, a Publix-anchored shopping center located in the Atlanta suburb of Suwanee. The 73,404-square-foot property was 93.3 percent leased at the time of sale to tenants including a dry cleaner, martial arts studio, nail salon, orthodontics office and a Mexican restaurant. Phillips Edison & Co. purchased the center from Affinius Capital (formerly USAA Real Estate) for an undisclosed price. Chris Decoufle, Kevin Hurley and Matt Karempelis of CBRE’s National Retail Partners – Southeast team represented the seller …
Hesperia, Calif. — Progressive Real Estate Partners has arranged a 5,020-square-foot lease with West Coast Dental (WCD) at Hesperia Square in Hesperia. WCD has signed a 10-year lease at the property, which is anchored by Vallarta and Dollar Tree. Albert Lopez of Progressive represented the landlord in the negotiations. Chris Beauchamp of Lee & Associates represented the tenant.
Bradley, Ill. — RCG Ventures has acquired Bradley Commons, a 175,369-square-foot retail center located in Bradley. Dick’s Sporting Goods, JOANN Fabric and Crafts, Petco, Shoe Carnival and Ulta Beauty anchor the property. Joe Girardi and Rick Drogosz of Mid-America represented the undisclosed seller. Jeff Miller of RCG represented the company on an in-house basis.
Plymouth, Ind. — Friedman Real Estate has brokered the sale of Plymouth Plaza in Plymouth, a city in northern Indiana. The new owner plans to repurpose the 60,000-square-foot retail center into a mixed-use development featuring both retail and self-storage space. Steven Silverman and Ryan Wilner of Friedman represented both the buyer and seller in the transaction.