February 2, 2010, REBusiness Online

MONMOUTH PURCHASES 184,317-SQUARE-FOOT DISTRIBUTION BUILDING

DALLAS – Monmouth Real Estate Investment Corp. has purchased a 184,317-square-foot industrial property located in Dallas. The building is situated on 10 acres at 2000 Luna Road within Valwood Industrial Park. It was completed last year and is leased to Carrier Corp. for a 10-year term. The company uses it as a regional distribution building. The seller was Langford Property Co. a developer of speculative and build-to-suit projects in Texas. Jud Clements and Robby Rieke of Holliday Fenoglio Fowler represented the seller. The purchase price was not disclosed.

KROGER MARKETPLACE COMING TO MANSFIELD
MANSFIELD, TEXAS – The Shops at Mansfield LLC has announced that Kroger Marketplace will anchor Broad Street Commons, a shopping center currently under development at the corner of East Broad Street and Highway 360 in Mansfield. The new concept from Kroger will feature 68,000 square feet of grocery items and 55,000 square feet of general home merchandise, including a kitchenware section, a Fred Meyer jewelry store and a home furnishings section. The opening is expected in summer. Karla Smith and Jean Smith of United Commercial Realty represented The Shops at Mansfield in lease negotiations. In addition to the Kroger Marketplace, Broad Street Commons will include a 16,000 square feet of inline retail space, pad sites and a Kroger fuel station. Conifer Real Estate is developing the project.

MARCUS & MILLICHAP BROKERS NEW BRAUNFELS HOTEL SALE
NEW BRAUNFELS, TEXAS – Marcus & Millichap has brokered the sale of a 128-room Rodeway Inn located at 1209 N. Interstate 35 in new Braunfels. Allan Miller of Marcus & Millichap’s Austin office represented the seller and procured the buyer, both of which were undisclosed limited liability companies. The acquisition price was not disclosed.