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, which was used to refinance existing debt, carries a 5 percent fixed interest rate. HFF’s James Fowler arranged the loan for Westwood Center LLC.
MEMPHIS, TENN. — US Foods has more than doubled the size of its distribution center in Memphis by adding 385,000 square feet. Improvements include a new state-of-the-art kitchen in which the company will hold product demonstrations for customers and an on-site truck repair shop. The expanded facility was officially dedicated to Joe Campbell, the former president of US Foods who was instrumental in the facility’s expansion. US Foods’ Memphis division has more than 375 employees and serves customers throughout the Southeast, including independent restaurants, healthcare and hospitality entities, government and educational institutions.
BALTIMORE — Minneapolis-based Target Corp. will open a new Target store in Baltimore in October 2013 as part of the Canton Crossing Shopping Center on Boston Street. The new Target will be approximately 135,000 square feet and will employ approximately 200 employees. The Baltimore East location will be the third Target in Baltimore.
FAYETTEVILLE, N.C. — Fayetteville’s Cross Creek Mall will expand by 46,000 square feet and will deliver new tenants Chico’s, LOFT, White House/Black Market, Men’s Warehouse, Reed’s Jewelers and Lane Bryant by fall 2013. Construction is set to begin in early 2013. Cross Creek Mall is located at the intersection Morganton and Skibo roads in Fayetteville. The regional mall is anchored by Belk, Macy’s, JC Penney and Sears. Chattanooga, Tenn.-based CBL & Associates Properties Inc. owns Cross Creek Mill.
BRADENTON, FLA. — CBRE Capital Markets has secured a $12.7 million acquisition loan with structured bridge financing on behalf of Beachwold for the purchase of Fountain Lake, a 201-unit apartment community in Bradenton. Charles Foschini, Christian Lee and Christopher Apone of CBRE arranged the financing through Kennesaw, Ga.-based NXT. Fountain Lake is located at 5620 Fountain Lake Circle and was built in 1984. The multifamily property was recently renovated and amenities include a pool, clubhouse, carports, tennis courts, fitness center, business center and car care center.
PLANTATION, FLA. — Plantation Technology Center, a 99,000-square-foot office building and warehouse at 1700 and 1800 N.W. 66th Ave. in Plantation, has sold for $8.85 million. Plantation Properties of Broward traded the property to COFE Fund I – Plantation LLC. Tenants at Plantation Technology Center include Metro PCS, the Broward County Department of Revenue and the Federation of Public Employees. Lloyd Berger and Judy Dolan of Berger Commercial Realty represented the seller.
ELGIN, ILL. — A joint venture between Conor Commercial Real Estate and Globe Corp. has acquired 20 acres in the Northwest Corporate Park in Elgin for the development of a 342,620-square-foot speculative industrial facility. The seller was The Busse Family. The facility will be designed to offer single- or multi-tenant suites ranging from 70,000 to 342,000 square feet. The building will feature 32-foot clear ceiling heights and office space. The project is slated to break ground in winter 2013. Kenneth Franzese and John Cassidy of Lee & Associates represented the joint venture in the deal. McShane Construction Co. and Ware Macolmb will provide construction and design services.
CHICAGO — Parisian fashion retailer Yves Saint Laurent has leased 2,375 square feet in the Waldorf Astoria Hotel at 11 East Walton St. in Chicago. The boutique will offer men and women's clothing and accessories. Additional high-end retailers in the area include Barneys New York, Hermes, Lululemon, Oliver People and Scoop NYC. Janika Brenner and Adam Secher of Baum Realty Group represented the tenant in the transaction. First Elysian Hotel Co. is the landlord.
LAVISTA, NEB. — NorthMarq Capital has arranged $24 million for the refinancing of The Pointe and East Pointe Apartments, a 480-unit, market-rate apartment community in LaVista. John Reed of NorthMarq arranged the 10-year loan, which will amortize over 30 years, through AmeriSphere Multifamily Finance. Green Pointe LLC is the borrower.
ROGERS, MINN. — ADO Products has signed a lease for 57,067 square feet in a new bulk warehouse building at the Liberty Industrial Park at Diamond Lake – Building 2 in Rogers. The 227,000-square-foot property is located at 13220 Wilfred Lane North and ADO expects to move into the facility in March 2013. Liberty Property Trust acquired land for the building in 2011 and invested $14 million for the development. Jeff Minea of CGC Commercial represented the tenant in the transaction.