FRESNO AND PORTERVILLE, CALIF. — Retail California has arranged the sales of two retail buildings in Fresno and Porterville. In the first transaction, Abdol Chalak acquired an 8,320-square-foot property, located at 4007 E. Ventura Ave. in Fresno. FD Partners LLC sold the property for an undisclosed price. Lewis Smith and John Lee of Retail California brokered the transaction. In the second deal, Opus-Dean LLC purchased a 9,900-square-foot retail property located at 1174 W. Henderson Ave. in Porterville. Walgreen Co. sold the property for an undisclosed price. Nick Frechou of Retail California represented the buyer, while Matt Alexander and John Krupka of SRS Real Estate represented the seller in the transaction.
SPRING VALLEY, CALIF. — Pacific Coast Commercial has facilitated the sale of a retail property located at 620-628 Grand Ave. in Spring Valley. Furniture Environments Inc. acquired the 6,992-square-foot property from Advance Auto Parts. The property was occupied by NAPA Auto & Truck Parts, which vacated upon sale. Tom Hennessy and Scott Coronel of Pacific Coast Commercial represented the seller, while Chris Musgjerd of Savills Studley represented the buyer in the deal.
ENCINITAS AND ESCONDIDO, CALIF. — Poki Poki has signed two leases for new locations in California. The restaurant will occupy 1,240 square feet at Escondido Valley Center, located at 1348 W. Valley Parkway in Escondido, and 896 square feet at Encinitas Marketplace, located at 154 El Camino Road in Encinitas. Beth Sargent and Jon Horning of Flocke & Avoyer Commercial Real Estate represented the tenant in both transactions. Phil Lyons of Cushman & Wakefield represented the landlord at Escondido Valley Center and Manuel Balderrabano of Kimco Realty represented the landlord in the Encinitas deal.
DALLAS — Rainier Realty Investments has acquired Wheatland Towne Crossing, a 207,669-square-foot retail center located near the intersection of Interstate 20 and U.S. Highway 67 in Dallas. Shadow-anchored by Target and Aldi, the property was 92 percent leased at the time of sale to tenants such as Party City, Office Depot, PetSmart and Dollar Tree. Sunny Sajnani of Metropolitan Capital Advisors arranged a $23 million, floating-rate bridge loan on behalf of Rainier for the acquisition of the center.
AUSTIN, TEXAS — Hunt Mortgage Group has arranged $27.7 million in refinancing for a pair of retail centers in Austin. The company arranged $11.2 million for The Linc, a 178,743-square-foot center situated on 15.6 acres at 6406 N. Interstate 35 Frontage Road and $16.5 million for The Crescent, an 117,980-square-foot property situated on 12.3 acres at 6929 and 6903 Airport Blvd. Both loans, which were arranged on behalf of California-based development firm Misuma Holdings, are structured as 36-month, floating-rate deals.
PARSIPPANY, N.J. — RD Management, JMF Properties and Ripco Real Estate Corp. have broken ground for Waterview Marketplace, a shopping center located at the intersection of Waterview Boulevard and Route 46 in Parsippany. A 48,000-square-foot Whole Foods Market will anchor the 150,150-square-foot shopping center, which is slated to open in 2018. The Whole Foods Market will be the third location in the Morris County and will feature indoor and outdoor dining space for customers.
SAN ANTONIO — San Antonio-based developer StrEat Park LLC has broken ground on Brooklyn StrEat Food Park, a $2.5 million project located at 201 Burnet St. in San Antonio. Scheduled to open in January 2018, according to Rivard Report, the food park will feature nine food trucks and a full-service bar, provide indoor and outdoor seating for about 450 people and stage live music.
ALLIANCE, OHIO — Cooper Commercial Investment Group has arranged the sale of a single-tenant Walmart Supercenter in Alliance, about 60 miles south of Cleveland, for $16.7 million. The 200,084-square-foot building is located at 2700 W. State St. Dan Cooper of Cooper Commercial represented the institutional seller and procured the West Coast-based buyer. The property sold for 98 percent of the list price. Walmart recently decided to exercise its first of several five-year renewal option periods.
AMELIA, OHIO — Marcus & Millichap has arranged the sale of an 8,250-square-foot property net leased to Rainbow Child Care in Amelia, about 20 miles east of Cincinnati, for $1.3 million. The property is located at 3669 Appomatox Drive. Eric Luhrsen, Chad Lieber and Dominic Sulo of Marcus & Millichap marketed the property on behalf of the seller, a developer. Michael Glass, also of Marcus & Millichap, assisted in closing the transaction. The buyer was not disclosed.
DAYTONA BEACH, FLA. — Avison Young has brokered the $20 million sale of Volusia Marketplace, a 131,361-square-foot shopping center located at 2400 W. International Speedway Blvd. in Daytona Beach, across from the Daytona International Speedway. John Crotty, Joshua Ladle, Steve Tanner and Ray Hayhurst of Avison Young arranged the sale to Festival Properties Inc. on behalf of the undisclosed seller. Volusia Marketplace’s tenant roster includes Big Lots, Cost Plus World Market, T-Mobile, Panera Bread, Chipotle Mexican Grill, Ashley Furniture HomeStore, Jo-Ann Stores and Batteries + Bulbs. The property was 100 percent occupied at the time of sale.