LOS ANGELES — Westwood Center, a 34,136-square-foot shopping center in Los Angeles, has received $5.5 million in financing. The center is located at 2180 Westwood Blvd. It is fully occupied by tenants such as Subway, Fast Frame, Beauty Supplies and MB Nails. The seven-year loan was used to refinance existing debt. It boasts a 5 percent fixed interest rate. The loan was arranged for Westwood Center, LLC by HFF’s James Fowler.
BALTIMORE — CBRE Capital Markets has arranged $77.9 million in permanent financing for Spinnaker Bay Apartments and The Promenade at Harbor East in Baltimore. CBRE worked on behalf of H&S Properties Development Corp. to arrange two permanent loans through its Fannie Mae DUS program. Joe Donato led CBRE’s Washington, D.C., team in arranging the permanent financing. Spinnaker Bay is a 315-unit, Class A multifamily community at 707 S. President St. in Baltimore, and The Promenade at Harbor East is a 113-unit Class A multifamily community at 1001 Aliceanna St. in Baltimore.
DULUTH, GA. — ViaSat Inc., which produces satellite and other digital communication products for the government and commercial customers, has begun construction on a 60,000-square-foot expansion at the firm's facility in Duluth. The company will invest $10.5 million in the build-to-suit project located at 1725 Breckinridge Plaza. The company's Duluth campus is ViaSat's second largest location in the nation, following behind its headquarters in Carlsbad, Calif. The Duluth warehouse focuses on antenna systems and commercial networks. Lindsay Martin, project manager with the Georgia Department of Economic Development, along with the Gwinnett Chamber Economic Development, assisted with the project.
BIRMINGHAM, ALA. — The Willows, a 170-unit apartment community in Birmingham, has sold for $5.2 million. David Oakley of Hendricks-Berkadia’s Alabama office represented the seller, Willows Partners LLC, an Alabama limited liability company. Willow United LLC purchased the multifamily property.
HOLLY SPRINGS AND CARY, N.C. — CBRE/Raleigh has finalized a co-leasing agreement with Kite Realty Group to lease Holly Springs Towne Center, a 545,000-square-foot regional shopping center in Holly Springs, and Parkside Town Commons, a 572,000-square-foot mixed-used development in Cary. Kite Realty Group owns both retail developments. Holly Springs Towne Center is under construction and includes tenants Target, Dick’s Sporting Goods, Marshalls, Michaels and Petco. Target and other retailers are expected to open in March. Parkside Town Commons will break ground this spring and will be anchored by Target and Harris Teeter. Charlie Coyne, Reagan Crabtree, Spencer Borders and Lisa Dorminey of CBRE/Raleigh will handle retail leasing for both developments.
RALEIGH, N.C. — The 183,500-square-foot Falls Village Shopping Center has sold in Raleigh for an undisclosed price. Anchor tenants include TJ Maxx, HomeGoods and Dollar Tree. Casey Rosen and Mike Burkard of CBRE’s National Retail Investment Group represented the seller, an affiliate of Greensboro, N.C.-based Bell Partners Inc. A joint venture between New York-based DRA Advisors LLC and Atlanta-based RCG Ventures LLC purchased the retail property, which was built in 1973 and renovated in 2002.
SAUK VILLAGE, ILL. — Principle Construction Corp. has completed a new 267,000-square-foot, build-to-suit manufacturing facility for Winpak Portion Packaging in Sauk Village, located about 30 miles south of Chicago. Demody Properties is the building owner. The facility includes a warehouse, production area, offices, maintenance area, chemical storage room and printing area. Winpak manufactures and distributes packaging materials and related packaging machines. Harris Architects provided architectural services and Jacob & Hefner Associates provided civil engineering service. George Cibula of Darwin Realty represented Dermody in the transaction. Justin Fierz of Lee & Associates represented the tenant.
MINNEAPOLIS, INDIANAPOLIS AND MIDLOTHIAN, ILL. — Viking Partners has acquired three shopping centers in the Midwest as part of its Fund II portfolio. Viking acquired a fee simple ownership in the 28,289-square-foot Kensington Park in Minneapolis, and tenants include Starbucks, Chipotle and Sprint. The company also acquired a fee simple interest in Indian Creek Commons, a 59,782-square-foot center in Indianapolis. Tenants include FedEx Kinko's, Deals and GameStop. Additionally, Viking bought a non-performing loan secured by Mid Oak Shopping Plaza, a 77,249-square-foot property in Midlothian, 20 miles south of Chicago.
TWINSBURG, OHIO — Albrecht Inc. has acquired a 130,000-square-foot office and warehouse property in Twinsburg, situated about halfway between Akron and Cleveland. Located at 1333 Highland Road, the 13-acre site was previously owned by Arsena Investments Co. It is two miles from the intersection of I-271 and Route 8, and three miles from I-480. The office section features marble floors and large-sized offices, while the warehouse includes 20-foot clear ceiling heights, sprinklers and high-efficiency fluorescent lighting.
ITASCA, ILL. — Priority Wire, a wire and cable distributor, has renewed its lease for 113,785 square feet of industrial space at 1311 Meacham Road in Itasca. The landlord, CenterPoint Properties, plans to upgrade the facility by adding a drive-in door, new lighting and other improvements. Joe Bronson of NAI Hiffman represented the tenant in the transaction.