BOSTON — Canada-based Kids & Co. is continuing its U.S. expansion into the New England market with a 20,000-square-foot childcare center at 451 D Street in Boston. The building is owned in a joint venture led by Meritage Properties and CV Properties. CBRE/New England is the leasing agent for 451 D Street. The center will offer education and care to more than 200 children, providing full-time, part-time and emergency backup care for children from the ages of six weeks to six years. Kids & Company offers guaranteed placement to 451 D employees, no late fees, password protected web cams and proprietary educational programs, including music, Spanish, on-site special needs coaching, and sign language. The center also provides children with snacks and meals fresh-from-scratch, and free of chemicals, additives and preservatives. Kids & Company was launched in 2002 in Toronto, Canada, by Victoria Sopik, a mother of eight, and Jennifer Nashmi, a mother of three.
HURST, TEXAS — Marcus & Millichap has brokered the sale of a 22,066-square-foot retail property located at 740 W. Pipeline Road in Hurst, roughly 25 miles west of Dallas. At the time of sale, the multi-tenant property was leased to Advance Auto Parts, America’s Best Contacts & Eyeglasses and Dollar Tree. Built in 2015, the center is adjacent to a Walmart Neighborhood Market. Geoff Ficke and Chris Adams of Marcus & Millichap represented the seller, a limited liability company. Mike James and Tony Michael Anderson of Marcus & Millichap’s Encino, Calif., office procured the buyer, an individual/property trust.
DES MOINES, IOWA — Outlets of Des Moines has unveiled its tenant list leading up to the grand opening on Oct. 20. Notable tenants include Nike Factory Store, LOFT Outlet, Tommy Hilfiger, Bath & Body Works, Toys “R” Us Express, Under Armour, Famous Footwear and Levi’s Outlet Store. A list of retailers was announced each day last week, along with a $1,000 sweepstakes contest. By entering the contest on the shopping center’s Facebook page, shoppers will have the opportunity to win the $1,000 now through Sept. 21. New England Development is the project developer.
OAKLAND, CALIF. — Lee & Associates has arranged the $2.5 million sale of a property net-leased to Bridgestone in Oakland. Bridgestone has occupied the 7,150-square-foot building since 1984. Ryan Bennett and Ryan Barr of Lee & Associates represented the seller, Granite Peak Property Investments, in the transaction. The buyer was undisclosed.
ANCHORAGE, ALASKA — Rooflifters USA has completed a 25,200-square-foot roof raising that will allow Dave & Busters to open at the Dimond Mall in Anchorage. The mall modified the space and raised the roof about six feet. The larger height allows tenants like movie theaters, big-box retailers and climbing-wall facilities to occupy spaces that most traditional retail locations are unable to initially accommodate. The actual roof raising was done overnight. It’s part of a massive reconfiguration for the Dimond Center remodel and expansion project. The 44,000-square-foot Dave & Buster’s is slated to open in 2018.
PENNSYLVANIA — Happy Home Communities (HHC), the mobile home park and RV park investment arm of Los Angeles-based Gelt Inc., has acquired a mobile home park portfolio in central and northeast Pennsylvania for $13 million. HHC acquired the three-property 439-space portfolio from Horizon Land Company. Jonathon McClellan of Marcus & Millichap brokered both sides of the transaction. The company plans to bring in affordable manufactured homes to fill approximately 48 empty lots and will upgrade common areas and add amenities, including playgrounds, to the properties over the next 36 months. A. Hunter Property Management, a firm focused on the management of manufactured housing communities throughout Pennsylvania, has been retained to take over management responsibilities for the portfolio, which includes: Birchwood Village Estates, a 209-space, 26.26-acre mobile home park located at 1946 Wyoming Avenue in Exeter. It is currently 82 percent occupied. Timberend Mobile Home Community, a 153-space, 70.6-acre mobile home park located at 528 Ruben Lehrer Road in Muncy just outside of Williamsport. It is currently 85 percent occupied. Wedgewood Mobile Homes Community, a 77-space, 19.16-acre mobile home park located at 23 Minton Drive in Selinsgrove. It is currently 90 percent occupied.
BUFFALO, N.Y. — A REIT has sold the McKinley Plaza shopping center to a private real estate investment firm. The price was not disclosed. The 95,544-square-foot retail center at 3670 McKinley Parkway is 98 percent leased to 12 tenants and has 503 parking spaces. T.J. Maxx and A.C. Moore Arts & Crafts anchor the center, occupying 32,000 and 22,000 square feet, respectively. Built in 1991, the center underwent extensive renovations in 2015. Cushman & Wakefield’s Metropolitan Area Capital Markets Group was the agent for the property and procured the buyer as well as the seller. Brian Whitmer, Andrew Merin, Seth Pollack, and Kubby Tischler of Cushman & Wakefield worked in conjunction with Joyce MacKnight and Ben Borruso of Pyramid Brokerage Company.
GRAND ISLAND, NEB. — Dougherty Funding LLC has provided a $7 million loan for the acquisition of Conestoga Mall in Grand Island, about 100 miles west of Lincoln. The 556,795-square-foot shopping center is located at 3404 W. 13th St. and is 93 percent leased. Tenants include Sears, Best Buy, JC Penney, Dillard’s and Younkers. Dougherty served as lead lender and servicer for the loan on behalf of Conestoga Realty LLC. Joel J. Gorjian of Uber Capital Group LLC arranged the loan.
TULSA, OKLA. — CBRE has brokered the $4.1 million sale of Town West Shopping Center, a 162,396-square-foot retail development located at the intersection of South 49th West Avenue and West Skelly Drive in Tulsa. The property was 93 percent leased at the time of sale to tenants such as Big Lots, Dollar General and Harbor Freight Tools. Austin-based Freestar Investments LLC purchased the property from Tulsa-based Case & Associates. Jason Little and Justin Brannon of CBRE represented the seller in the transaction.
LAGUNA NIGUEL, CALIF. — Keystone Mortgage Corp. has secured a $60 million refinancing for Plaza de la Paz, a 295,000-square-foot shopping center located in the Orange County community of Laguna Niguel. The center is home to 45 tenants including The Home Depot, Sprouts Farmers Market, CVS/pharmacy and Off Broadway Shoes. Keystone placed the 15-year, fixed-rate loan through an insurance company on behalf of the borrower, a local family office.