Belchertown, Mass. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $14.6 million sale of a 56,832-square-foot retail property occupied by Stop & Shop in Belchertown, roughly 18 miles outside Springfield. The buyer and seller were not disclosed. Jim Koury and Marty Cohan of IPA brokered the deal.
Cross Roads and Red Oak, Texas — Woodmont Co. has arranged two leases for Firehouse Subs in the Dallas-Fort Worth area. First, Firehouse Subs signed a 1,500-square-foot lease at Village at Cross Roads located at 11700 US Highway 380 in Cross Roads. Edge represented the landlord, Irish Tiger Investments LLC. The sandwich chain also signed a 1,200-square-foot lease at a retail center located at 106 East Ovilla Road in Red Oak. Gilbert Realty Group represented the landlord, Annadon LLC. Grant Gary and Kendall Graff of The Woodmont Co. represented Firehouse …
Davie, Fla. — RK Centers has acquired Lakeside Town Shops, a 79,746-square-foot retail property in Davie, for $28.7 million. An entity known as Lakeside Town Shops LLC, which is managed by Columbia, South Carolina-based Edens, was the seller. Dennis Carson of CBRE represented the seller and the buyer in the transaction. Lakeside Town Shops features three buildings on 10.3 acres. The property was 98 percent leased at the time of sale to 25 tenants, including Dollar Tree, Ross Dress for Less, Target SuperCenter and Chick-fil-A.
Warrington, Pa. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $22.5 million sale of Warrington Plaza, an 87,581-square-foot shopping center located in the Philadelphia suburb of Warrington. Brad Nathanson of IPA represented the seller, Valley Forge Investment Corp., and procured the buyer, Realty Resource Capital Corp. Warrington Plaza was fully occupied at the time of sale by tenants including a 35,000-square-foot Avalon Floor & Tile.
Summerville, S.C. — Crosland Southeast has bought 23.7 acres for the first phase of One Nexton, a Publix-anchored mixed-use development in Summerville, roughly 24 miles outside Charleston. Daniel Pellegrino and Seth Clark of Bridge Commercial represented the seller, Brookfield/NASH, in the transaction. Upon completion, the multi-phase project will include 150,000 square feet of shopping and dining space and 351 multifamily units. Charlotte-based Shook Kelley will be the development’s master designer, and Alpharetta, Georgia-based Hiscutt & Associates Inc. is the retail architect for Phase I. Jeff Yurfest of The Shopping Center …
Cape Coral and Melbourne, Fla. — SRS Real Estate Partners’ National Net Lease Group has brokered the $12.5 million sale of two single-tenant properties occupied by Crunch Fitness in South Florida. The newly developed portfolio includes a 19,200-square-foot property located at 244 Nicholas Parkway West in Cape Coral; and a 19,500-square-foot property located at 4880 N. Wickham Road in Melbourne. Matthew Mousavi and Patrick Luther of SRS represented the seller, a Southeast-based developer, as well as the buyer, a family partnership from South Florida, in the transaction.
Jurupa Valley, Calif. — Progressive Real Estate Partners has arranged the sale of a Shell gas station and Circle K convenience store and car wash in Jurupa Valley. A Riverside County-based private investor sold the asset to another Riverside County-based private investor for $9.3 million. Built in 1999 at 3873 Pyrite St., the property was fully remodeled in 2013. The asset features 28 fueling positions, an express car wash, a 4,000-square-foot Circle K convenience store and a 2,580-square-foot drive-thru restaurant building occupied by Alberto’s Mexican Food and Sub Hub Sandwiches. …
Nashville, Tenn. — Stan Johnson Co. has brokered the $7.3 million sale of a single-tenant restaurant located at 1911 Broadway St. in Nashville. The 3,643-square-foot property is leased to Velvet Taco, a fast-casual dining concept based out of Plano, Texas. Blaise Bennett of Stan Johnson Co. represented the seller, an undisclosed local developer. The 1031 exchange buyer was an entity based out of Glen Allen, Virginia. The 3,643-square-foot property in Nashville is leased to Velvet Taco.
Sevierville, Tenn. — CBRE has arranged the sale of Smoky Mountain Gateway, a 137,286-square-foot shopping center located at 750 Winfield Dunn Parkway in Sevierville. Anchored by Publix, the center features other tenants such as HomeGoods, Hamrick’s and Five Below. Casey Rosen, Paul Gaither, Steele McDonald and Dennis Carson of CBRE represented the seller, Horne Properties Inc. JRW Realty represented the buyer, an affiliate of ExchangeRight, which purchased the property for an undisclosed price.
Rochester, Pa. — Marcus & Millichap has brokered the $12 million sale of Madison Square Shopping Center, a 184,082-square-foot retail property in Rochester, located northwest of Pittsburgh. Giant Eagle anchors the property, which was originally constructed in 1967 as a Kaufmann’s Department Store. John Reehil of Marcus & Millichap represented the seller, an undisclosed partnership, in the transaction.