GOODYEAR, ARIZ. — Palm Valley Pavilions East, a 35,199-square-foot retail center in Goodyear, has sold to Claxton Real Estate LP 1 for $4.8 million. The center is located at SE McDowell and Litchfield roads. The buyer was represented by Tivon Moffitt and Peter Bauman with Colliers International. The seller, MEI Properties LLC, was represented by Andrew Fosberg, Steve Fernandez and Joseph Compagno of CBRE’s Phoenix office.
LOS ANGELES — Reseda Plaza, a 10,000-square-foot shopping center, has sold to Collins 36 Ltd. for $4 million. The center is located at 18300 Vanowen in the Los Angeles submarket of Reseda. The buyer was represented by Paul Kenworthy of Charles Dunn Company. The private seller was represented by Cheryl Pester of NAI Capital.
PALM BEACH HARBOR, FLA. — Phillips Edison-ARC Shopping Center REIT Inc. has acquired Crystal Beach Plaza, a 59,015-square-foot shopping center located in Palm Beach Harbor, about 30 miles northwest of Tampa. The shopping center is anchored by a 39,203-square-foot Publix. The REIT’s current portfolio includes 59 properties in 21 states, with an aggregate portfolio purchase price of about $857 million.
MAITLAND, FLA. — Morrison Commercial Real Estate has arranged the sale of two office buildings located in the Keewin Lexington Office Park in Maitland, about eight miles north of Orlando. The two assets sold for approximately $1.2 million. The office buildings are the 3,760-square-foot 220 Lookout Place and the 4,962-square-foot 237 Lookout Place. Michael Sieg of Prudential Results Realty represented the buyer, Tony LLC, in the 220 Lookout Place acquisition. MacMillan Straus Co. LLC purchased 237 Lookout Place for its holistic healthcare practice, The Center of Wellness. Christi Davis of Morrison Commercial Real Estate represented the seller, Maitland-based CRS Real Estate Holdings LLC, in both transactions.
JACKSONVILLE, FLA. — Capital Advisors has arranged $10.5 million in refinancing for the 288-unit Gregory Cove Apartments, a garden-style apartment community located at 5601 Edenfield Road in Jacksonville. The apartment features a swimming pool, fitness center, business center, a picnic/park area and a library. Philip Rachels of Capital Advisors’ Jacksonville office arranged the loan through Prudential Mortgage Capital Co. LLC on behalf of the borrower, Vestcor Fund XXII Ltd. The 10-year non-recourse loan features a 30-year amortization schedule.
NEW ORLEANS — The Howard Hughes Corp. has announced the tenant roster for the redevelopment of the Riverwalk Marketplace in downtown New Orleans into The Outlet Collection at Riverwalk. The property’s tenants that are new to New Orleans include Last Call Studio by Neiman Marcus, Coach Men’s Factory Store, Tommy Bahama, Toby Keith’s I Love This Bar & Grill, Hartstrings Childrenswear, U.S. Polo Assn. Outlet, It’s Sugar, Sunglass Warehouse, Red Mango and New Balance Factory Stores. Additional tenants include Coach Factory Store, Café du Monde, Kenneth Cole Co. Store, LOFT Outlet, Chico’s Outlet, Clarks/Bostonian Outlet, Gap Outlet, Guess Factory Store, Kay Jewelers, Raising Cane’s, Sunglass Hut Outlet and The Fudgery. The redevelopment will expand the property’s footprint by about 50,000 square feet to an approximate total of 250,000 square feet. Interior demolition and other construction activities are underway. The property is scheduled to reopen in late spring/early summer of 2014.
ARLINGTON HEIGHTS, ILL. — Weber Atrium Centre LLC has sold an 115,000-square-foot flex building in Arlington Heights, about 30 miles northwest of Chicago, for $2.7 million. RMS Properties purchased the property, which is located at 715-723 Algonquin Road. The building, which fronts Interstate 90, is approximately 80 percent office. Tenants at the property include the State of Illinois and AVI Systems Inc., which signed a lease for 23,000 square feet earlier this year. Ed Lowenbaum and Jason Talanian with Chicago-based Lowenbaum REP represented Weber Atrium Centre LLC in the transaction. Kelly Joyce and Jason Simon of Colliers International represented RMS Properties.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the sale of a 55,000-square-foot industrial building in Milwaukee. Theodore F. Dragotta purchased the building from The Robert A. Paneitz Revocable Living Trust. The property is located at 900 N. 46th St. Anthony Huenerbein of Dickman/CORFAC was the broker involved in the transaction.
ROSELLE, ILL. — HREC Investment Advisors has arranged the sale of the 101-guestroom Country Inn & Suites in Roselle, located about 30 miles west of Chicago. Scott Stephens, COO and senior principal, and Scott Kaniewski, senior vice president at HREC Investment Advisors, represented the seller, a private equity firm, in the transaction. The Country Inn & Suites is located two miles from the Schaumburg Regional Airport and roughly 13 miles from O’Hare International Airport. The hotel also includes 22,000 square feet of meeting space.
PAPILLION, NEB. — The Lerner Co. and RED Development have begun construction on a new Sam’s Club in Papillion, a southern suburb of Omaha. Sam’s Club will open at Settler’s Creek Shopping Center, located at 72nd Street and Cornhusker Road. The new location, scheduled to open in the fall of 2014, will feature a pharmacy, optical department, fuel station and photo center to serve members in the community. Sam’s Club will join Walgreens and Hobby Lobby, which have previously opened at Settler’s Creek. When completed, the Settler’s Creek Shopping Center development will total 250,000 square feet.