ARVADA, COLO. – Phase I of the 34,317-square-foot Arbor Village retail center in Arvada has sold to JP Arbor Village LLC for $7.4 million. The property consists of a strip center and two individual retail pads that are currently occupied by Taco Bell Corporation and Wendy’s International. Riki Hashimoto and Dan Grooters of Grubb & Ellis’ Private Capital Markets group represented the seller, in conjunction with David Spriggs of Legend Retail Group. JP Arbor represented itself.
BALDWIN PARK, CALIF. — NorthMarq Capital has arranged $6.5 million in permanent financing for the 24,605-square-foot Baldwin Park Towne Center in Baldwin Park. The single-story inline retail building was built in 1987. Notable tenants include Verizon Wireless, GameStop and AT&T. Financing was arranged by the firm’s John M. Stewart and Brock Yaffe through a correspondent relationship with one of NorthMarq’s life insurance companies.
ATWATER, CALIF. — Dollar Tree has leased 9,264 square feet at Applegate Ranch Shopping Center in Atwater. The 464,136-square-foot shopping center’s anchors include Super Target, Walmart, Marshalls and PETCO. Dollar Tree was represented by Rick Amerine of Commercial West Associates. Applegate’s owner, Regency Centers, was represented in-house byMichael Arfsten of Retail California.
CUPERTINO, CALIF. – Roamware has relocated its headquarters and tripled its space by leasing an office at 20401 Stevens Creek Blvd. in Cupertino. It was previously located at 3031 Tisch Ave. in San Jose. The mobile solutions provider was represented by Sushma Malhotra and Mike Mordaunt of CresaPartners in San Jose. The building’s landlord, De Anza Properties, was represented in-house by Carla Wilkey.
CHARLOTTE, N.C. — Liberty Property Trust has acquired the 1.08 million-square-foot Crosspoint Center, a seven-building industrial park located at the intersection of Interstates 77 and 85, from TA Associates for $60.75 million. The complex is 90 percent leased to tenants such as Sygma, MEDIC, Lagasse, Flexalloy, Diagnostic Devices and Brooks Equipment.
BOYNTON BEACH, FLA. — A joint venture between Flagler Investment and Investcorp Real Estate has purchased the 133,473-square-foot Bethesda Health City, a medical office building located at 10301 Hagen Ranch Rd. in Boynton Beach, from Bethesda Healthcare Systems for $37 million in an off-market transaction. Charles Foschini, Christopher Apone and Christian Lee of CBRE's Miami office arranged $26.3 million in acquisition financing for the buyer. The 10-year loan has a 30-year amortization schedule.
DULUTH, GA. — Gwinnett Center, a 263,742-square-foot office complex consisting of three buildings, was acquired for $14.1 million from a senior lender by Orlando, Fla.-based Global Growth Trust, Inc., a non-traded real estate investment trust (REIT), after the previous owners defaulted on their debt payments. The Duluth property, located adjacent to the Pleasant Hill Road and Interstate 85 interchange, is 41 percent leased by tenants in the healthcare, education and engineering industries.
DURHAM, N.C. — Cree Inc. has acquired 60,000 square feet of office space, located at 4600 Silicon Dr. in Durham, from Pinnacle Park, for $3.65 million. Jim Allaire, Chris Norvell and Jackson Rives of Cassidy Turley's Raleigh, N.C., office represented the buyer in the transaction. Lee Clyburn of Grubb & Ellis Thomas Linderman Graham's Raleigh office represented the seller.
ORLANDO, FLA. — Financial Compound has secured an $8.25 million refinance loan for a 150,000-square-foot, Food Lion-anchored shopping center in Orlando. The 3-year loan has no amortization schedule.
GRANDVIEW, MO. — Kansas City, Mo.-based Block Real Estate Services LLC will open the 20,000-square-foot Grandview Medical Building Oct. 31 in Grandview, Mo. Located at 7201 E. 147th St., the roughly $4 million building will serve as an addition to New Grandview Triangle. Tenants include Hickman Mills Clinic, Carondelet Health and Albers Medical Pharmacy.