SAN DIEGO – A 69,600-square-foot office building in San Diego has received $6.9 million in permanent financing. The building sits adjacent to the Fashion Valley Mall within the Mission Valley submarket. The 10-year, fixed-rate loan was arranged for a group of private investors by Shaun Moothart of The Alison Company through a correspondent life company.
COEUR D’ALENE, IDAHO – The Silver Lake Mall in Coeur d’Alene has gained two new tenants. Sports Authority signed on for 44,000 square feet, while Jo-Ann Fabric and Craft Stores will occupy 19,000 square feet. Silver Lake is owned and operated by Rouse Properties.
ORLANDO, FLA. — A joint venture between West Palm Beach, Fla.-based McCraney Property Co. (MPC) and New York-based Clarion Partners will develop three industrial buildings on 25.3 acres at Orlando Central Park in Orlando. A 150,000-square-foot building for Dade Paper is already under construction and two additional buildings will be built on spec with 225,000 square feet of rentable space. Construction of the first spec building is expected to break ground in the first quarter of 2013.
HOPE MILLS, N.C. — Traemoor Village, a 76,325-square-foot shopping center, has opened in the Stoney Point community of Hope Mills. A 53,365-square-foot Harris Teeter grocery store anchors the retail property. McDonald’s will break ground in approximately one month on an outparcel. Other tenants include Mellow Mango, Viva the Bean, High Cotton Consignments, Naturally Unleashed, Great Clips and Hallmark Cards. Greenville, S.C.-based Fox Commercial Properties developed Traemoor Village.
PARKVILLE, MD. — Beech Street Capital LLC has provided a $38.2 million Fannie Mae conventional loan to refinance the 603-unit Ridge Gardens Apartments, a multifamily community in Parkville. The borrower has owned the property since the 1970s and invested in capital expenditures in 2010 and 2011 with significant improvements planned during the next 12 months. Amenities include a pool, a clubhouse, a fitness center and a playground. Adam Bieber of Beech Street Capital’s Bethesda, Md., office originated the transaction.
NORTH LAUDERDALE, FLA. — The 560-unit Parrot’s Landing, a multifamily community situated on 29 acres in North Lauderdale, has traded. Dallas-based Behringer Harvard sold it to a Toronto, Canada-based real estate investment company that focuses on multifamily communities. Behringer Harvard acquired a 90 percent ownership interest in Parrot’s Landing in 2010 through a joint venture between Behringer Harvard Opportunity REIT II Inc., a public non-listed real estate investment trust, and Denver-based Grand Peaks Properties. Avery Klann, Marc deBaptiste and Hampton Beebe of ARA’s Boca Raton, Fla., office brokered the sale.
JACKSONVILLE, FLA. — A four-property office portfolio, totaling 54,000 square feet, has traded in Jacksonville for $1.75 million. Touchstone 9951 JAX LLC sold the portfolio to Mayport, Fla.-based Regency Business Centers. Chuck White of NAI Hallmark Partners represented both parties in the transaction. The four properties are located near the I-295 and Atlantic Boulevard intersection in Jacksonville.
ORLAND PARK, ILL. — Whole Foods Market has opened a 27,370-square-foot location at Ravinia Plaza in Orland Park. The natural and organic food retailer signed a lease in early 2012 to occupy space formerly leased to Borders. The 101,384-square-foot Ravinia Plaza is located at 15150-15260 La Grange Road, and additional tenants include Panera Bread and Pier 1 Imports. Inland Real Estate Corp. owns the property.
ST. LOUIS — The once-abandoned Metropolitan Building in St. Louis has been transformed into a haven for local artists, featuring 72 lofts and four on-property art studios. The property, called Metropolitan Artist Lofts, was originally built at 500 N. Grand Blvd. in 1908. The building features one- and two-bedroom apartments and studios for painters, sculptors and clay artists. Amenities include a dance studio and fitness room. Dominium developed the property and U.S. Bank provided the financing.
TROY, MICH. — First American Exchange Co. has acquired Golden Gate Plaza, a 100,000-square-foot retail center in Troy. The facility is located at 2883-2891 Big Beaver Road. Bruce Morrison, Viktor Gjonaj and Jeffrey Trepeck of Signature Associates represented the seller, Reed Holdings Troy LLC. Morrison also represented the buyer.