DOVER, N.J. — FJH Whitehall LLC has acquired a 14,000-square-foot retail property in Dover, which recently opened as a new Lazy Boy Furniture store, for $2.6 million. The property is located at 500 Mount Pleasant Ave. near the Rockaway Mall. The seller was Plaza K Realty-Dover LLC. Mark Handwerker of The Goldstein Group represented both parties in the transaction.
SOUTH PARK, PA. — Berkadia Commercial Mortgage has arranged a $13.8 million Freddie Mac loan for Park Place Apartments, a 219-unit property at 1700 Park Place in South Park. The 10-year, fixed-rate loan was used to pay off the acquisition financing on the property. Nick Cassino of Berkadia secured the loan on the behalf of the borrower, Robert Morgan, who owns more than 16,000 apartment units through his companies, Morgan Communities and Morgan Management.
ROCHESTER, N.H. — New England Auto Finance has leased 2,650 square feet of retail space at 115 Farmington Road in Rochester. David Choate and Rebecca Lee of Grubb & Ellis/Northern New England represented the tenant in the transaction. Paul Kiratzis of Shoe Town represented the landlord, Hermitage Place Limited Partnership.
DENTON — Rayzor Ranch Town Center, a new open-air retail and entertainment development located at the intersection of Interstate 35 and U.S. Highway 380 in Denton, will add a 126,000-square-foot Dillard's to its tenant roster. Dillard's will serve as the shopping center's first anchor department store. RED Development, owner of Rayzor Ranch, plans to build out the center to 600,000 square feet and add several high-quality tenants.
KATY — Ybarra Investment/Jimmy Changa's has purchased an 87,991-square-foot site at the southwest corner of Interstate 10 and Westgreen in Katy from Vista Red. Mac Ruggles of Texas/Southwest Group represented the buyer in the transaction. Eric Walker of Capital Retail Properties represented the seller.
HOUSTON — Marcus & Millichap has arranged the sale of a 5,000-square-foot shopping center, located at 3507 S. Shepherd in Houston's inner loop. Derek Hargrove of Marcus & Millichap represented the seller, a private partnership, in the transaction. Braun Enterprises is the buyer.
VENTURA, CALIF. – The 272-unit Archstone Ventura Colony in Ventura has sold to Raintree Partners for $60 million. The community is located at 848 Weber Circle. This is Raintree’s first Ventura County purchase. The firm plans to renovate the property. IPA’s Ron Harris and Joseph Smolen represented both the buyer and the seller, Archstone, in this transaction. Fannie Mae financing was arranged by Greg Reed and Kristen Croxton of Beech Street Capital.
LAGUNA HILLS, CALIF. — The Fresh Market, a full-service specialty grocer, has opened its first Southern California location at The Village at Nellie Gail Ranch in Laguna Hills. The 21,000-square-foot store is expected to open in summer 2014. The village is undergoing a $17-million renovation and expansion.
DENVER – NorthMarq Capital has arranged a $20.5-million acquisition loan for the 426-unit Lakes at Monaco Pointe in Denver. It is located at 6165 E. Iliff Ave. The loan was arranged by Greg Benjamin and Dan Lucchesi of the firm’s Denver office for a local commercial real estate development and management firm.
CARLSBAD, CALIF. – The 163-unit Villa Real Apartments in Carlsbad has sold to Triumph Properties Group for $20.1 million. This is the firm’s first multifamily purchase in San Diego County. The community is located at 2701 Avenida de Anita. Triumph plans to invest $3.5 million in capital improvements to reposition the community. John Chu, Ed Rosen and Alexjandro Lombrozo of Cushman & Wakefield of San Diego represented both the buyer and the seller, receiver Douglas Wilson and Company, in this transaction.