SURPRISE, ARIZ. – Bell West Ranch Shops, a 27,225-square-foot shopping center and freestanding, single-tenant building in Surprise, has sold to PWREO Bell & 303, LLC for $4.34 million. The strip-retail shopping center was built in 2004. It is currently 95.2 percent leased. Notable tenants include Pizza Hut and O’Reilly Auto Parts. Ryan Schubert and Michael Hackett of Cassidy Turley BRE Commercial’s Retail Capital Markets Group represented both the buyer and the seller, Bell West Ranch Shops, LLC, in this transaction.
LAS VEGAS – A 21,610-square-foot property in Las Vegas that is net leased to La-Z-Boy furniture has sold to a private group for $3 million. It is located at 5700 Centennial Center Blvd. inside the Centennial Gateway at Centennial Center. The buyer was represented by Alvin Mansour of Marcus & Millichap’s San Diego office. The seller, a developer, was represented by Chris Cunning of the firm’s Las Vegas office.
NORTHRIDGE, CALIF. – A 54,171-square-foot industrial property in Northridge has sold to Devarim Investment, LLC for $2.55 million. The four-building property is located at 19015-19031 Parthenia Street. John DeGrinis, Patrick DuRoss and Jeff Abraham of Colliers International’s Encino office represented both the buyer and the seller, OneWest Bank, in this transaction.
SALEM, ORE. – The Oak Park Shopping Center in Salem has received $2 million in first-mortgage refinancing. The five-year loan was used to pay off the Safeway-anchored center’s existing debt. About half of the funds were also used to modernize and upgrade the property. The loan was arranged by Don Burnes of Johnson Capital. It was provided by a national bank. The loan features a fixed interest rate of about 4 percent and a 25-year amortization schedule.
OLIVE BRANCH, MISS. — Cushman & Wakefield has arranged the sale of the 1.1 million-square-foot Williams-Sonoma National Distribution Center, located in Olive Branch. The cross-docked facility is leased on a triple-net basis to William-Sonoma Retail Services. Stewart Calhoun and Robert Elms of Cushman & Wakefield, along with Dave Curran of Cushman & Wakefield/Commercial Advisors, represented the seller, a private investor, in the transaction. American Realty Capital was the buyer.
MARCO ISLAND, FLA. — A 12,000-square-foot office building, located at 900 N. Collier Blvd. in Marco Island, has sold for $2.75 million. David Stevens of Investment Properties Corp. of Naples represented the buyer, 900 North Collier Blvd. LLC, in the transaction. The seller was David Nassif as trustee under the land trust.
QUINCY, FLA. — A 9,000-square-foot Dollar General store, located in Quincy, has sold for $1.08 million. Rich Murphy and Stephen Counts of Calkain Cos. represented the buyer, a Colorado-based private investor, in the transaction. Brett Butler and Andrew Peeples of Stan Johnson Co. represented the seller.
ESSEX AND PARKVILLE, MD. — Beech Street Capital has provided two loans for the 611-unit Kings Mill Apartments, located at 1460 Hadwick Drive in Essex, and the 296-unit Tall Oaks Apartments, located at 1002 Pleasant Oaks Road in Parkville, totaling $33 million. Adam Bieber of Beech Street arranged the 10-year, fixed-rate loans with 9.5 years of yield maintenance and a 30-year amortization schedule on behalf of the borrower, a Baltimore-based developer and manager.
SHOREWOOD, ILL. — Quantum Real Estate Advisors has arranged the $3.6 million sale of a 44,597-square-foot shopping center at Route 59 and Verin Boulevard in Shorewood. Tenants at the center include HomeGoods, Payless and Cold Stone Creamery. Chad Firsel of Quantum Real Estate Advisors represented the buyer, a private investor based in Shaumburg, Ill. He also represented the seller, a Minneapolis-based developer.
LEMONT ILL. — Unlimited Carrier is moving its headquarters from Lansing, Ill., to Lemont. The trucking company acquired a 33,400-square-foot industrial building for $2.9 million from Interstate Lemont LLC. The facility is located at 13555 Main St. and features 7,400 square feet of office space, three exterior docks and two exterior rail doors. Unlimited Carrier has selected Development Solutions Inc. to upgrade the building. Benjamin Cremer and Michael Robbins of NAI Hiffman represented the tenant in the transaction. Paul Ahern and Tom Barbera of Interstate Holdings represented the seller.