JACKSONVILLE, FLA. — Tampa-based Franklin Street has arranged the sale of a six-property shopping center portfolio in Jacksonville for $86.3 million. Curbline Properties Corp. (CURB), a publicly traded firm and a former spinoff of SITE Centers Corp., was the buyer. The deal marks CURB’s largest acquisition to date. The portfolio totals 184,680 square feet and includes Carrie Plaza, Deerwood Station, Julington Square, Southlake Plaza, Roosevelt Plaza and Oakleaf Crossing. Bryan Belk and John Tennant of Franklin Street represented the seller, a local private investor, in the transaction.
CARROLLTON, TEXAS — Lee & Associates has negotiated a 20,538-square-foot industrial lease in the northern Dallas metro of Carrollton. According to LoopNet Inc., the building at 2853 Dickerson Parkway was constructed in 1995 and totals 41,354 square feet. Johnny Anderson of Lee & Associates represented the landlord, Stonelake Capital Partners, in the lease negotiations. The tenant is American Leak Detection.
FITCHBURG, WIS. — Mid-America Real Estate Corp. has arranged the sale of Hatchery Hill Towne Center in the Madison suburb of Fitchburg for an undisclosed price. Shadow anchored by Pick ‘n Save, the 85,880-square-foot shopping center was 80 percent leased at the time of sale. Tenants include Panera Bread, Verizon, Cold Stone Creamery, MOD Pizza, Great Dane Pub & Brewing Co., Anytime Fitness, Kim’s Nails and Tabby & Jack’s Pet Supplies. Rick Drogosz and Dan Rosenfeld of Mid-America represented the seller, Bridge33 Capital. Brar Investments was the buyer.
WESTLAKE, OHIO — New tenants are opening and existing tenants are expanding at Crocker Park lifestyle center in Westlake, a western suburb of Cleveland. New tenants include Color Me Mine, Garage, Océanne, State & Liberty, Ten Seconds Yunnan Rice Noodle, Tradehome Shoes and Vera Bradley. Arhaus and Lucky Shoes are relocating to larger spaces. Additionally, CPL Architecture, Engineering & Planning will soon open an office, and Palmer Holland is expanding its footprint, now occupying a ground-floor space in addition to its third-floor office space. Crocker Park features more than 4.5 million square feet with over 130 local and national retailers and dining options as well as office buildings, luxury apartments and an event venue. Cleveland-based Stark Enterprises is the owner.
POMPANO BEACH, FLA. — Northmarq has arranged a $59 million loan for the refinancing of Old Town Square, a 281-unit midrise apartment community located at 200 N.E. 1st Ave. in Pompano Beach. David Gahagan, Chris Hammel and Chandler Kaye of Northmarq’s West Palm Beach office arranged the loan through an unnamed life insurance company on behalf of the borrower, Adache Real Estate. The bridge loan was underwritten with a three-year term, interest-only payments and extension options. Completed in 2024, Old Town Square features studio, one- and two-bedroom apartments, as well as a resort-style swimming pool, hot tub, summer kitchen with barbecue grills, gaming deck, 24/7 fitness center, sauna, coworking lab, community bicycles, onsite mini market, 24/7 property management and a dog run. The City of Pompano Beach provided a TIF financing to Adache as an economic incentive for the development of Old Town Square, according to Northmarq.
SPRING ARBOR, MICH. — Marcus & Millichap has brokered the $5.5 million sale of Village Crossing, a 17-suite retail center in Spring Arbor, about 46 miles west of Ann Arbor. The multi-tenant property totals 53,900 square feet and is situated on Spring Arbor Road. The asset consists of two buildings that are 94.4 percent leased. The anchor tenant is Henry Ford Health, which recently extended its lease for five years with annual rent increases. Darin Gross, Seth Haron and Ashish Vakhariya of Marcus & Millichap represented the seller and procured the buyer. The deal closed at 97.3 percent of the asking price.
APPLETON, WIS. — NAI Pfefferle has negotiated the sale of a 14,185-square-foot office building in Appleton. The sales price was not disclosed, but the asking price was $2.2 million. Elizabeth Ringgold and Jonathan Glassco of NAI Pfefferle negotiated the sale. Buyer and seller information was not provided.
DENVER — First Stone Development has received $15.8 million in financing for the construction of The Jasper, a multifamily property at 4353 Tennyson St. in Denver. Phillip Gause and Jim Wilkins of Marcus & Millichap Capital Corp.’s Denver office secured $2 million in preferred equity and $13.8 million in debt for the borrower. The construction loan was placed with a debt fund and features a two-year term. Situated in Denver’s Berkeley neighborhood, The Jasper will offer 34 apartments and 2,700 square feet of street-level retail space.
LAS VEGAS — Intersection Equities, in partnership with Sundance Bay, has acquired Valley View Industrial, a multi-tenant flex industrial asset in Las Vegas, from Sanders Wyoming Trust. The transaction was valued at $8.7 million, or $181 per square foot. Erik Sexton and Camila Rosales of NAI Excel represented the buyer in the deal. Located at 5325 S. Valley View Blvd., Valley View Industrial consists of a 48,304-square-foot facility offering nine warehouse/office units ranging from 1,000 square feet to 28,000 square feet. The property features 14- to 18-foot clear heights and 11 grade-level doors. The ownership plans to implement a series of capital improvements to elevate the property to an institutional-quality asset. Planned renovations include a façade upgrade, new exterior paint and parking lot seal-and-stripe enhancements to improve curb appeal and long-term asset value.
FAYETTEVILLE, N.C. — Matthews Real Estate Investment Services has negotiated the sale of The District at Freedom Town Center, a 40,733-square-foot retail center located at 2707-2737 Freedom Parkway Drive in Fayetteville. The buyer, an affiliate of Serota Properties doing business as Serota Islip NC II LLC, purchased the property from Greenville, S.C.-based developer RealtyLink for an undisclosed price. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews brokered the transaction. The District at Freedom Town Center is adjacent to Phases I and II of the adjacent Freedom Town Center that includes tenants including Sprouts Farmers Market, HomeGoods, Hobby Lobby, Dick’s Sporting Goods, Burke’s Outlet, Five Below, World Market, DSW and Petco.