Real Estate

Indianapolis — Mid-America Real Estate Corp.’s Net Lease Investment Group recently brokered the sale of an 8,320-sq.-ft. Family Dollar in Indianapolis. An investment fund in Texas purchased the property from a private developer for $1.142 million, which is a 7.5% cap rate. The building is leased to Family dollar for 10 years.

The newly constructed Family Dollar is in the Lawrence Commons shopping center anchored by LA Fitness.

Austin, Texas — CBRE’s National Retail Investment Group has announced the sale of The Market at Parmer Lane on behalf of LPC Retail, a division of Dallas-based Lincoln Property Company. The buyer is a Texas-based private real estate fund advised by Crow Holdings Capital Partners. Terms were undisclosed.

H-E-B Grocery anchors the 122,349-sq.-ft. center, which is 93.3% occupied.

Montreal - Canadian jewelry retailer Maison Birks is opening its first store in China, located at Xanadu Plaza in the Central Business District of Beijing, in early 2014.

Hibbett Sports has put its succession plan into motion. Effective Feb. 2, 2014, Mickey Newsome will go from executive chairman of the board and CEO to non-executive chairman. Additionally, president and CEO Jeff Rosenthal has been appointed to the board, bringing the total number of members 10.

New York — Ricky’s Halloween, backed by Ricky’s NYC, a 23-year-old brand of ultra-hip beauty shops, has leased new pop-up locations for its Halloween retail stores in the Financial District and West Chelsea. The Winick Realty Group represented Ricky’s in those transactions.

Those two leases bring Ricky’s Halloween pop-up locations — which also merchandise products from its year-round stores — to 17.

Sauk Rapids, Minn. — The Mansour Group www.themansourgroup.com has closed on the sale of a Walgreens in Sauk rapids, Minn., in the St. Cloud metropolitan area, for $10.9 million.

Mansour had the exclusive listing to market the property on behalf of the seller, a developer in Houston. The property generated multiple offers and sold to a 1031 California investor who needed a premium investment to meet the exchange needs.

Medford, Mass. — A joint venture between Charter Realty & Development Corp. and Regency Centers Corporation has acquired Fellsway Plaza in Medford, Mass. The joint venture acquired the 150,000-sq.-ft. neighborhood center, anchored by a recently constructed Stop & Shop, from Berenson Associates of Boston. PNC Bank provided permanent and development financing. Commercial Property Group represented the joint venture in the transaction.

Denver – Quiznos is preparing to expand in the United Arab Emirates (UAE) with the recent signature of Royal Bun Cafe as its newest franchisee. Quiznos and Royal Bun Cafe worked together to establish the blueprint for the venture that will bring more than 70 restaurants to the UAE during the next eight years.

Abu Dhabi, Dubai, and Sharjah will be the first UAE expansion locales, with stores expected to be complete by early 2014. Quiznos recently expanded into Mexico and Russia.