LA VERNE, CALIF. — NorthMarq Capital has arranged the $4.4 million refinance of a shopping center located at 1400, 1410 and 1480 Foothill Blvd. in La Verne. Michael Elmore and Ory Schwartz of NorthMarq secured financing through a national bank. The loan is structured with a 13-year term and 30-year amortization schedule and features a 4.46 percent fixed rate for 10 years with a floating tail. Tenants at the center include RiteAid, Auto Zone and Carl’s Jr.
MATTESON, ILL. — The Starbucks | T-Mobile Center in Matteson has sold for $6.1 million to an undisclosed buyer. Located at 4800 211th St., the 11,904-square-foot property was constructed in 2014. The property consists of a 4,504-square-foot stand-alone Sleepy’s mattress store and a three-tenant strip center, which is fully occupied by Starbucks Coffee, T-Mobile and Giordano’s Pizza. Austin Weisenbeck and Sean Sharko of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a limited liability company, in the transaction.
FORT WAYNE, IND. — Bradley Co. has arranged two leases and one condominium sale across various property types in Fort Wayne. Kienan O’Rourke of Bradley Co. represented the tenant, Vintage Treasures LLC, in the lease of 21,600 square feet of retail space located at 265 Coliseum Blvd. In a separate transaction, O’Rourke represented the seller, B&R Real Estate, in the sale of a 2,077-square-foot office condo located at 515-519 Airport North Office Park in Fort Wayne to an undisclosed buyer. In a third transaction, O’Rourke represented the landlord, Kurt Mundinger, in the lease of 7,108 square feet of industrial space located at 224 E. Wallace St. to Three Rivers Distilling Co. Kelly Castle, also of Bradley Co., represented the tenant in the transaction. Terms and additional details of the transactions were not released.
SCHAUMBURG, ILL. — CBRE has brokered the lease of 31,924 square feet of office space at 1100 E Woodfield Road in Schaumburg to Fullerton Engineering Consultants Inc. The firm’s new corporate headquarters will occupy the fifth floor of the property and offers three private balconies that overlook the lake at the 103-acre Woodfield Lake Office Park. Mark Smith and Bill Saviski of CBRE represented the landlord, McKnight Realty Partners, while Wayne Shulman of Newmark Grubb Knight Frank represented the tenant in the transaction.
LAKE ZURICH AND HOFFMAN ESTATES, ILL. — Cross Kick’s Fitness has signed two new leases for fitness facilities in Lake Zurich and Hoffman Estates. The company is opening a 2,500-square-foot location at 479 S. Rand Road within Village Square Retail Center in Lake Zurich, and a 2,000-square-foot location at 2567 Golf Road within Hoffman Village Shopping Center in Hoffman Estates. The fitness facility in Lake Zurich is slated to open later this month while the facility in Hoffman Estates will open later this fall. Cross Kick’s Fitness offers a 40-minute power workout, which includes circuit training, boxing, weight lighting and aerobics led by a certified personal trainer. Linda Kost and Dave Schmidt of RealtyMetrix LLC represented Cross Kick’s Fitness in the lease transactions.
CHESTERFIELD AND ST. LOUIS, MO. — Gershman Commercial Real Estate has arranged two leases, totaling 7,364 square feet in Missouri. In the first deal, The Vandiver Group Inc. leased 3,864 square feet of office space within the Herman Stemme II Office Building located at 16052 Swingley Ridge Road in Chesterfield. The landlord is Chesterfield Stemme II Inc. Marcia Finch of Gershman Commercial represented the tenant in the lease. In the second deal, PPM Enterprises LLC, doing business as STL One Price Cleaners, inked a lease for 3,500 square feet of retail space within The Adler Lofts at 2035 Washington Ave. in St. Louis. Stephen Symsack and Roger Zigler of Gershman Commercial represented the landlord, Adler Lofts Master Landlord LLC, while Hilliker Corp. and Xsite Real Estate Inc. represented the tenant in the transaction. Additional terms of the transactions were not released.
CEDARHURST, N.Y. — Cedarhurst-based Paradigm Commercial Real Estate LLC has secured $47 million in refinancing for a package of 25 retail buildings located throughout the Bronx and Westchester counties. The properties are occupied by mom-and-pop shops, most of which have short-term leases. Michael Edery of Paradigm Commercial arranged the fully non-recourse loan, which features a 70 percent loan-to-value, for the borrower, a private family office. Proceeds of the loan will be used to expand the borrower’s portfolio, which currently includes 100 properties.
FARMINGTON, CONN. — Chozick Realty Inc. has arranged the sale of Centennial Inn Apartments, located on Spring Lane in Farmington. Mystic Properties Management acquired the property for $7.5 million from Centennial Inns Inc. Originally built in 1987 as a 112-suite extended-stay hotel, 56 of the units were converted to full-time apartment use in 2010, while the remaining suites operate as extended-stay use. The buyer plans to convert the remaining hotel portion into full-time apartment occupancy. At the time of sale the apartment portion was fully occupied, with a waiting list. Rick Chozick of Chozick Realty’s Hartford, Conn., office represented the seller and procured the buyer in the transaction.
SHREWSBURY, MASS. — CS Holdings LLC has acquired an office/retail building located at 307 Grafton St. in Shrewsbury. Kalamat LLC sold the property for $2.4 million. Constructed in 2005, the two-story property is fully occupied by Café Noir, Salon Sogno, Piel Skin Boutique and Modern Dentistry of Shrewsbury. David Cohen and William Kelleher IV of Kelleher & Sadowsky Associates represented the seller in the transaction.
CHATTANOOGA, TENN. — Berkadia has brokered the sale of six apartment communities in Tennessee totaling 1,110 units for a combined $96.4 million. Marcus Lyons of Berkadia’s Chattanooga office led the investment sales team in representing the sellers with help from other Berkadia offices. The transactions include Quarry Trail in Knoxville, which sold for $42 million to an investment group based in Atlanta; a trio of Middle Tennessee State University apartment communities that sold for $32.1 million to another Atlanta-based investment group; King’s Crossing and Tara’s Place in Murfreesboro, a combined 184 units, which sold for $11.3 million; and Waterview, a 160-unit property in Henderson that sold for $10.9 million. The Berkadia team for the transactions includes Kevin Larimer, David Oakley, Aaron Hargrove, Eric Taylor and Royce Emerson.
