REAL ESTATE

Rent-A-Center opens Hawaii store

BY Dan Berthiaume

Wichita, Kan. – Rent-A-Center has opened a new store in Kihei, Hawaii. The new Rent-A-Center is located at 1215 S. Kihei Rd., Ste. 3.

“We’re very excited to be here in Kihei,” said store manager Robyn Idemoto. “We’ve gotten a great response from the community. Everyone’s like family out here, and I really like that. I feel that we can bring a lot of positivity to the community.”

The store employs a manager and three sales associates. Rent-A-Center operates 13 locations in the state of Hawaii and more than 3,000 in the U.S., Puerto Rico, Canada and Mexico.

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REAL ESTATE

Leslie’s Poolmart going to Portsmouth’s Academy Crossing

BY Michael Fickes

Virginia Beach, Va. — Leslie’s Poolmart has signed a lease for 5,200 sq. ft. in the Academy Crossing Shopping Center in Portsmouth, Va. Divaris Real Estate represented the landlord, Midlantic Builders VA in the transaction.

Other tenants at Academy Crossing include Coldwell Banker, Gymboree, Beadworks, Serenity Nails and Rita’s Pizza.

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REAL ESTATE

Five Applebee’s sold in 1031 exchange

BY Michael Fickes

San Diego — Representing a real estate investment trust, The Mansour Group has sold a portfolio of five Applebee’s for $13.3 million.

To complete the transaction, The Mansour Group sourced a private high net worth California investor, who sold an apartment complex and acquired the portfolio through a 1031 exchange. The restaurants are located in North Carolina, Texas, Tennessee, Minnesota and Kentucky:

  • Elizabeth City, N.C.: A 4,676-sq.-ft. Applebee’s occupies an outparcel at Elizabeth City Crossing, a 99,417-sq.-ft. shopping center anchored by Big Lots and Farm Fresh.
  • Lufkin, Texas: A 5,199-sq.-ft. Applebee’s stands on an outparcel at South Loop Crossing, a 125,000-sq.-ft. power center anchored by Ross, Best Buy, Old Navy and Bed Bath and Beyond.
  • Madisonville, Ky.: A 5,393-sq.-ft. Applebee’s is located in the heart of the area’s retail hub. Neighbors include Wal-Mart, Lowe’s, Kroger, CVS, Burger King and others.
  • Memphis, Tenn.: Situated along a main retail corridor, a 4,830-sq.-ft. Applebee’s is about two miles east of The Regional Medical Center at Memphis and the Methodist University Hospital, a teaching hospital of the University of Tennessee Health Science Center.
  • Owatonna, Minn.: A 5,460-sq.-ft. Applebee’s occupies a site just east of Interstate 35, the area’s main traffic artery. Combined daily traffic counts exceed 49,700 vehicles. Neighbors include an AmericInn Hotel & Suites, Target, Sears, Starbucks, KFC, Taco Bell, Jimmy John’s and others.

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