REAL ESTATE

Aveda Salon headed to Sierra Vista

BY Michael Fickes

Sierra Vista, Ariz. — The Realm Salon, an approved Aveda Salon, is opening a new 1,500-sq.-ft. full-service salon in Indian Hills Plaza in Sierra Vista, Ariz. The new salon plans to open by June 1.

First West Properties Corporation represented the tenant in the transaction. Commercial Retail Advisors represented the landlord, Indian Hills Investors.

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REAL ESTATE

Mid-America brokers sale of Milwaukee MSA center

BY Michael Fickes

MilwaukeeMid-America Real Estate Corporation’s investment sales team has brokered the final sales phase of The Shoppes of Nagawaukee in Delafield, Wis. This was the third transaction consummated on behalf of the seller, Told Development, for this shopping center since 2012.

Ramco-Gershenson Properties Trust purchased the first phase, which is anchored by Kohl’s and encompasses 137,000 sq. ft., for $15.1 million. Ramco-Gershenson also purchased the second phase for $22.7 million. It spans 106,000 sq. ft. and features anchor tenants Marshall’s and Sports Authority.

The third and final phase totals over 57,000 sq. ft. and includes Best Buy, Famous Footwear, Panera Bread, Noodles & Co., Scottrade and Qdoba. Wangard Partners Inc. purchased the third phase for $13.75 million.

In all, the three phases of the shopping center totaled over 276,000 sq. ft. and sold for more than $51 million.

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REAL ESTATE

CBRE completes sale Frisco, Texas shopping center

BY Michael Fickes

Dallas — Shayan Holdings has purchased the 29,200-sq.-ft. Lebanon Ohio Center, an unanchored strip retail complex, in Frisco, Texas. The seller was LandPlan Development Corporation. The price was not disclosed.

The center is currently 90% occupied. Tenants include CrossFit Remedy and Arts and Technology Institute. CBRE’s Dallas office represented the seller in the transaction and conducted the financial analysis.

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