AUBURN, ALA. — Colliers International has brokered the $14.4 million sale of The Crossroads of Opelika, a 33,378-square-foot shopping center located at 2025 Interstate Drive in Auburn. The property’s tenant roster includes Chipotle Mexican Grill, Aspen Dental, Mattress Firm and AT&T. Bond Street Advisors Inc. purchased the center for more than $430 per square foot. Josh Randolph of Colliers International’s Birmingham office represented the undisclosed seller in the transaction.
TRINITY, FLA. — Walker & Dunlop has closed a $13.7 million acquisition loan for Trinity Village Center, a 76,814-square-foot shopping center located in Trinity. Built in 2007, the asset was fully leased at the time of financing to 28 tenants including AAA Auto Club South, Synovus Bank, Quest Diagnostics, Five Guys Hamburgers and Fries, Smoothie King and Cold Stone Creamery. Alison Williams and Matt Baldwin led Walker & Dunlop’s origination team in securing the 10-year loan with two years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, a retail investment firm based in Canada.
HEMET, CALIF. — Marcus & Millichap has brokered the sale of Ramona Plaza, a shopping center located in Hemet. An undisclosed buyer acquired the property for $11.1 million, or $108 per square foot. Grocery Outlet, Planet Fitness, Dollar Tree, Subway and Little Caesars Pizza occupy the 102,801-square-foot property. Matt LoPiccolo, Matt Hardy and Mike James of Marcus & Millichap represented the buyer and undisclosed seller in the deal.
ONTARIO, CALIF. — Progressive Real Estate Partners has brokered the sale of a retail center located at 404-426 N. Euclid Ave. in downtown Ontario. The City of Ontario acquired the 64,000-square-foot property from a private investor for $3.2 million. Secoya Market, Papa John’s Pizza and Wells Fargo occupy the property, which was built in the 1960s. Frank Vora, Mike Lin and Pablo Velasco of Progressive Real Estate represented the seller, while Paul Galmarini, also of Progressive Real Estate, represented the buyer in the transaction.
OCEANSIDE, CALIF. — Stos Partners has acquired a two-tenant retail property located at 610-612 Mission Ave. in Oceanside. A private owner sold the property for $1.4 million. The buyer plans to implement capital upgrades to the building and market the property as retail and/or office space. Peter Curry of Cushman & Wakefield represented the buyer and seller in the transaction.
CINCINNATI — Einstein Bros. Bagels has signed an 1,850-square-foot at the Gwynne Building for its third location in Cincinnati. The Colorado-based bagel shop has 735 locations throughout the United States. The new location will be situated along the Cincinnati Streetcar route in the former Richter & Phillips space at 202 East 6th St. The store is expected to open at the end of this month. In addition to in-store breakfast and lunch options, Einstein Bros. will also offer catering throughout downtown. Jason Gibson of Anchor Associates represented Einstein Bros. Bagels and CBRE’s Tori Sunderman represented the landlord in the lease transaction.
SAN ANTONIO — Bellomy & Co. has arranged the sale of Crestway Self Storage, located at 7095 Crestway Road in San Antonio. Lockaway Storage acquired the property for an undisclosed price. Built in 2008, the 22,300-square-foot property features 161 units. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the undisclosed, San Antonio-based seller in the deal.
GARLAND, TEXAS — Henry S. Miller Cos., dba HSM Hwy 66 Storage LP, is developing a self-storage facility located at 1020 Hebron Drive in Garland. The 77,000-square-foot facility will feature 763 storage units. Construction began in mid-January and units are expected to be available in early fall. The property will offer interior and drive-up units, security and controlled access and an on-site manager. CubeSmart will manage the facility.
ST. PETERS, MO. — Knoebel Construction Inc. has broken ground on the Shoppes at Mid Rivers in St. Peters. The $54 million project consists of 14 buildings within the 270,000-square-foot shopping center located just north of I-70, about 30 miles northwest of St Louis. Completion is slated for this fall. Confirmed tenants include Academy Sports + Outdoors, Burlington, Ross Dress for Less, Marshalls, HomeGoods, ULTA Beauty, Five Below and Famous Footwear. The property is located across from Mid Rivers Mall, the only regional mall in St. Charles County. GBT Realty Corp. is the developer of the project designed by MJM Architects. Knoebel Construction has divided the work into subprojects with separate management teams in order to complete the center in time for the 2017 holiday shopping season.
WALNUT CREEK, CALIF. — Mesa West Capital has originated a $35.7 million first mortgage loan for the refinancing and repositioning of Rossmoor Shopping Center in Walnut Creek. A joint venture between Citivest Commercial and Tallen Capital Partners was the borrower. The borrower acquired the property in 2012 and is implementing a city-approved redevelopment plan for the 108,000-square-foot property. In addition to upgrading the exterior façade, expanding the inline space and adding new retail pads, the plan also includes adding an additional 27,000 square feet of net rentable area to the existing property. Steve Fried and Seth Hall of Mesa West Capital originated the five-year, non-recourse, floating-rate loan for the borrower.
