Tucson, Ariz. — Alturas Real Estate Funds has acquired Tucson Fiesta, a retail center at 4215, 4225 and 4235 N. Oracle Road in Tucson. EVT Tucson Fiesta sold the property for $14.6 million. Chris Hollenbeck of Cushman & Wakefield represented the buyer in the deal. Three major retailers in the discount furniture, clothing and golf industries fully occupy the 93,005-square-foot property.
Chesapeake, Va. — An affiliate of Klein Enterprises has purchased Towne Place at Greenbrier, a 76,500-square-foot shopping center located at 725 Eden Way North in Chesapeake, about seven miles from Norfolk. David Crotts of Institutional Property Advisors brokered the disposition of the property from Lingerfelt Commonwealth Partners. The center was 97 percent leased at the time of sale to 23 tenants including Jersey Mikes, Moe’s, Cox Communications, Pure Barre and Stretch Labs. The property is also shadow anchored by Target and Dollar Tree’s global headquarters.
Wilmington, N.C. — Floor & Décor will occupy a 51,270-square-foot single-tenant retail building located at 816 South College Road in Wilmington. The property was formerly occupied by Dick’s Sporting Goods. The building became available when Dick’s relocated to nearby Independence Mall. Brian Grabowski of TradeMark Properties represented property owner, Winwil Realty, in the leasing transaction. Renovations to the space are underway, with Floor & Decor expected to open this summer.
Phoenix — Lee & Associates has hired Mark Bramlett as principal in the firm’s Phoenix office. Bramlett has over 25 years of commercial real estate experience, specializing in the transactional representation of national retailers and landlords, as well as commercial land development. “Mark Bramlett combines a superior understanding of the Arizona market combined with his strategic thinking ability, to formulate a total real estate landscape for his retail customer base,” says Fred Darche, managing principal at Lee & Associates. “He is incredibly knowledgeable about future competitive changes, as well as …
Delray Beach, Fla. — Sleiman Enterprises has acquired Delray Square, a 160,000-square-foot shopping center in Delray Beach. Berkeley Capital Advisors represented the undisclosed seller in the transaction. Delray Square was 96 percent occupied at the time of sale by tenants including Publix, Hobby Lobby, Walgreens, Chipotle Mexican Grill and Chick-fil-A. Publix recently relocated to a newly constructed 45,600-square-foot space at the property, while Hobby Lobby recently signed a long-term lease with plans to open in the next few months.
Cleveland — KeyBank Real Estate Capital (KBREC) has provided $51.6 million in acquisition financing to First National Realty Partners for three retail centers in Ohio, Oklahoma and Pennsylvania. Acquisitions include Southland Crossings, a 245,678-square-foot center in the eastern Ohio city of Boardman that is anchored by Giant Eagle, Michaels, Ross Dress for Less and PetSmart; Summit Square, a 166,552-square-foot property in Tulsa, Oklahoma, that is anchored by Reasor’s Foods, American Freight and Tuesday Morning; and The Village at Pittsburgh Mills, a 161,079-square-foot center in Tarentum, Pennsylvania, that is anchored by …
Lewisville, Texas — Disney Investment Group has negotiated the sale of Lewisville West, a 129,129-square-foot shopping center located in Lewisville, about 25 miles north of Dallas. Anchored by El Rancho Supermercado, the center was 79 percent leased at the time of sale to tenants such as Liquor Den, Jefferson Dental, Verizon, Cricket Wireless and Starbucks Coffee. David Disney and Adam Crockett of DIG represented the undisclosed seller and procured the buyer, Newport Capital Partners, in the transaction.
Chino Hills, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of two multi-tenant retail properties in Chino Hills for a combined $19.1 million. Ed Hanley, Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, VantageOne Real Estate Investments, in both transactions. The first transaction included the $11.4 million disposition of Chino Hills Grand Plaza to a Burbank, California-based private investor. The 12,948-square-foot retail building was leased to First Citizens Bank, Pacific Dental Services, It’s Boba Time and Pick Up Stix at the time …
Tulsa, Okla. — Stan Johnson Co. has arranged the $7.3 million sale of a 13,225-square-foot retail property in Tulsa leased to CVS/pharmacy. The property was built in 2011. B.J. Feller of Stan Johnson Co. represented the seller in the transaction. A California-based institutional investor acquired the property. The deal traded at a cap rate of 5.25 percent and was executed via a 1031 exchange.
Charlotte, N.C. — BayHaven Restaurant Group plans to open four restaurants at Camp North End, a mixed-use development currently underway in Charlotte. Passage Seafood, The Abyss, Bird Is The Word and B.A.D. (Beyond Amazing Donuts) are expected to open this summer. B.A.D. and Bird Is The Word will be situated next to each other in a 1,400-square-foot space; Passage Seafood will occupy 2,000 square feet; and The Abyss will occupy 1,300 square feet. Passage Seafood and The Abyss will offer indoor and outdoor dining space. Developed by ATCO Properties & …
