Garden Grove, Calif. — Strategic Retail Advisors (SRA) has brokered the $18 million sale of a retail building located in Garden Grove. The property totals 46,287 square feet. OC Freedomhouse Church acquired the building, which formerly housed a Walmart Neighborhood Market, from a private investor. Blaine Bush of SRA arranged the transaction.
Spring, Texas — CenterSquare lnvestment Management has acquired Gleannloch Crossing, a 32,797-square-foot retail center located in the northern Houston suburb of Spring. The site is located at the intersection of Grand Parkway and Champion Forest Drive. The property was fully leased at the time of sale to tenants including MOD Pizza, The UPS Store, Subway, Gleannloch Family Dentist, Smoothie King and Salons by JC.
Fayetteville, Ark. — Arkansas-based fast-casual brand Slim Chickens has signed a franchise deal for 12 units in the state of Pennsylvania. Plans include the addition of restaurants in the counties of Lancaster, Lebanon, Dauphin, York, Cumberland, Centre, Franklin, Mifflin, Juniata, Perry and Adams. PSMMSM PA Ventures, also a Dunkin’ Donuts franchisee, will own and operate the new units.
Centennial, Colo. — Copper2 LLC has sold Southgate Shopping Center, a neighborhood shopping center located in Centennial, a suburb of Denver. Arapahoe RHSW LLC acquired the property for $7.7 million. The property, which was 83 percent leased at the time of sale, comprises 30,024 square feet of retail space across two buildings. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller in the disposition.
Dixon, Calif. — Marcus & Millichap has arranged the sale of a retail building located in Dixon, roughly 25 miles southwest of Sacramento. The multi-tenant property comprises 13,132 square feet of space. A private investor acquired the building from another private investor for $3.6 million. Michael Grandstaff and Christopher Hund of Marcus & Millichap represented the seller and procured the buyer in the transaction.
Westport, Conn. — Regency Centers has purchased Compo Shopping Center in Westport for $45 million. CVS/pharmacy anchors the center, which comprises two retail buildings. Dubbed Compo I and Compo II, the property’s buildings were 92 percent occupied at the time of sale. Totaling 76,368 square feet, the center will be joined with Regency’s adjacent retail center, Compo Acres. Together, the properties will form Compo Acres Shopping Center, which will total 120,000 square feet. Joanna R. Manfro of Matthews Real Estate Investment Services represented the undisclosed seller in the transaction.
East Setauket, N.Y. — Brixmor Property Group has acquired West Center, a 41,920-square-foot shopping center located in East Setauket on Long Island. Wild by Nature, a grocer, anchors the property. Other tenants at the center include Walgreens, Pure Barre, Starbucks Coffee and AT&T.
Tyler, Texas —NewQuest Properties has arranged the sale of Shops at Shiloh, a 14,927-square-foot retail center located in Tyler, about 100 miles east of Dallas. A CEFCO convenience store and gas station anchors the property, which was built on 2.4 acres in 2008. The center was 95 percent occupied at the time of sale. Austen Baldridge of NewQuest and Marc Peeler, formerly of NewQuest and now of Partners Real Estate, represented the undisclosed seller in the transaction. Eliud Sangabriel of SVN Trinity Advisors represented the undisclosed buyer, which acquired the property …
Rocky Hill, Conn. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $9.5 million loan for the refinancing of a retail center located in Rocky Hill, located just south of Hartford. Tenants at the property include a supermarket and a bank. Gerald Kray of MMCC arranged the loan, which was structured with a five-year term, 7.1 percent interest rate and 65 percent loan-to-value ratio.
Canton, Mich. — Michaels has signed a 17,514-square-foot lease at Premier Center, a shopping center located in Canton. The new lease brings the property to full occupancy. Other tenants at the center include Kroger, Home Depot and Dick’s Sporting Goods. First National Realty Partners (FNRP) is the landlord.
