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Tuesday, May 22, 2012 Retail
In Houston, Texas, Jerry Goldstein represented locally-based Weingarten Realty in the $5.4 million sale of the Westbury Triangle Shopping Center to a Dallas-based private investor. Located at 11334 Chimney Rock Rd. at the intersection of West Bellfort and Chimney Rock, the retail plaza is situated on 5.89 acres between Chase Bank and Home Depot. Built in 1964, it was 78 percent occupied by tenants including Ace Cash Express, 99 Cents Only Store and Domino's Pizza. In West Chester, Ohio, Adam Schlosser and Brett Hatcher, investment specialists in Marcus & Millichap's Columbus office, represented a Cincinnati-based private investor in the $3.8 million sale of the West Chester Mason Store & Lock. Locally based developer BGB Investments purchased the storage unit, which is located at 7454 Hamilton Mason Rd. and sold for $65 per square foot. Built in 2000, the property contains a mix of traditional and climate controlled units on 5.5 acres. It was 96 percent occupied at the time of sale and includes an additional half acre for expansion. Finally, in Newark, Del., Dean Zang and Mark Taylor of Marcus & Millichap's Philadelphia office, represented Northtowne, Inc. in the $3.218 sale of the Residence Inn by Marriott. The buyer, Andymorris, LLC, purchased the hotel in a 1031 exchange and was represented by Letovsky Real Estate Corporation. The hotel sold with a 4.95 percent capitalization rate and was on the market for approximately one month. It comes with a 75-year NNN Ground Lease in place with 54 years remaining. Located at 240 Chapman Rd., the hotel is situated on five acres immediately off Interstate 95. Built in 1982, the hotel underwent renovations last year and is located near the University of Delaware. Address: Westbury Triangle Shopping Center at 11334 Chimney Rock Rd., Houston, Texas - West Chester Mason Store & Lock at 7454 Hamilton Mason Rd. , West Chester, Ohio - Residence Inn at 240 Chapman Rd., Newark, Del. Size: 67,306 square feet Built: 1964, 2000, 1982 Filed Under: Retail E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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