Retail

ValCenters Receives $37M in Financing for 174,280 SF Retail Center in Vista

by Nellie Day December 12, 2016

VISTA, CALIF. — ValCenters has received $37 million in financing for North County Square, a grocery-anchored shopping center located at 1711-1861 University Drive in Vista. Greg Brown and AJ Manas of HFF arranged the 10-year, fixed-rate financing through JP Morgan Asset. ALDI, Ross Dress for Less, Old Navy, Planet Fitness, Starbucks Coffee, Michaels, T-Mobile, Firestone and Supercuts occupy the 174,280-square-foot property, which is 97 percent leased. Mark Strauss of Cohen Financial was an advisor to ValCenters.

December 12, 2016

California Retail Western

Los Alamitos Approves Retail Center to Include 365 By Whole Foods Market

by Nellie Day December 12, 2016

LOS ALAMITOS, CALIF. — The City of Los Alamitos Planning Commission has approved Village 605, a shopping center development located at the northwest corner of Interstate 605 and Katella Avenue in Los Alamitos. Lincoln Property Co., in partnership with Long Wharf Real Estate Partners, will develop the 113,880-square-foot, open-air center, which will feature seven one-story buildings. 365 by Whole Foods Market will anchor the center. Construction is slated to begin in early 2017 with completion scheduled for early 2018. KTGY Group is serving as architect and Strategic Retail Advisors of Newport Beach, Calif., is handling project leasing.

December 12, 2016

California Retail Western

Paragon Commercial Acquires Rusty Leaf Plaza in Orange

by Nellie Day December 12, 2016

ORANGE, CALIF. — Paragon Commercial Group LLC has acquired Rusty Leaf Plaza, a 60,294-square-foot shopping center located roughly 30 miles outside Los Angeles in Orange. Formerly anchored by Ralphs supermarket, Rusty Leaf Plaza will be repositioned in the coming months to feature a Target as the new anchor. The 41,700-square-foot store is expected to open in October 2017. CJ Osbrink of HFF sold the property on behalf of the seller, Rusty Leaf Plaza LLC.

December 12, 2016

Loans New York Northeast Retail

NorthMarq Capital Completes $47.5M Refinancing of Macy’s in Queens

by Amy Works December 9, 2016

NEW YORK CITY — NorthMarq Capital has negotiated the $47.5 million refinance of a 250,000-square-foot Macy’s, located at 136-32 Roosevelt Ave. and 131-52 41st Ave. in the Flushing area of Queens. The transaction was structured with a 25-year term and arranged through NorthMarq’s relationship with a life insurance company. Ernest DesRochers and Matthew Buttram of NorthMarq arranged the financing for the undisclosed borrower.

December 9, 2016

Loans New Jersey Northeast Retail

HFF Arranges $12.2M Construction Loan to Convert Industrial Building into Self-Storage Facility

by Amy Works December 9, 2016

TOTOWA, N.J. — HFF has arranged $12.2 million in construction financing for the conversion of a light industrial building into a 1,246-unit self-storage facility in Totowa. The developer and borrower is a joint venture between Tulfra Real Estate and The Hampshire Cos. M&T Bank provided the loan. Located at 930 N. Riverview Drive, the renovated facility will feature 1,235 climate- and 11 non-climate controlled units. Jon Mikula and Michael Klein of HFF represented the borrower in the financing transaction.

December 9, 2016

California Retail Western

Joint Venture Acquires 120,000 SF Retail Center in Oakland

by Nellie Day December 9, 2016

OAKLAND, CALIF. — A joint venture between Western Avenue Capital and Northstar Enterprise Opportunity Fund I has acquired Foothill Square Shopping Center in Oakland for an undisclosed sum. At the time of sale, the 120,000-square-foot property was 95 percent leased to national and regional tenants, including FoodsCo, Ross Dress for Less, Wells Fargo, Davita, Rainbow and a school. The name of the seller was not released.

December 9, 2016

California Retail Western

Retail Insite Brokers $6M Sale of 5,946 SF Retail Building in National City

by Nellie Day December 9, 2016

NATIONAL CITY, CALIF. — Retail Insite has arranged the sale of a retail property located at 1302 E. Plaza Blvd. in National City. Plaza Boulevard 111 Partners sold the property to Bill Jay Corp. for $6 million. The 5,946-square-foot property is leased to Mission Federal Credit Union, 85°C Bakery Café and Bank of America ATM. Don Moser of Retail Insite represented the seller, while Chuck Klein of Cushman & Wakefield represented the buyer in the transaction.

December 9, 2016

California Loans Retail Western

NorthMarq Capital Negotiates $4.9M Refinancing for Retail Center in Vallejo

by Nellie Day December 9, 2016

VALLEJO, CALIF. — NorthMarq Capital has arranged $4.9 million in refinancing for a retail center located in Vallejo. Mark Dodson secured the loan, which features a five-year term, for the undisclosed borrower. Comcast, Domino’s Pizza, Subway and AT&T occupy the 23,347-square-foot retail property.

December 9, 2016

California Retail Western

Sprouts Farmers Market Inks 35,250 SF Lease for New Location in Rancho Cucamonga

by Nellie Day December 9, 2016

RANCHO CUCAMONGA, CALIF. — Sprouts Farmers Market has signed a lease for 35,250 square feet of retail space to anchor Alta Loma Plaza, a retail center located at 6701 Carnelian St. in Rancho Cucamonga. The new store, which is the second location in the city, is expected to open in spring 2017. Other tenants at the 70,000-square-foot retail center include Walgreens and Del Taco. Brad Umansky and Paul Galmarini of Progressive Real Estate Partners represented the undisclosed landlord, while Ryan Sullivan of Western Retail Advisors represented the tenant in the deal.

December 9, 2016

Florida Retail Southeast

Miller Construction Underway on New Fort Lauderdale MINI Dealership

by John Nelson December 9, 2016

FORT LAUDERDALE, FLA. — Miller Construction Co. has begun converting a two-story former auto rental building at 2125 S. Federal Highway in Fort Lauderdale into a new MINI dealership. The new 55,507-square-foot Lauderdale MINI is Miller Construction’s fifth project for Holman Automotive, which will move the existing Lauderdale MINI dealership from its current location a few blocks north on Federal Highway. Holman Automotive will display the new MINI cars on the ground floor of the new property and house certified pre-owned MINI cars on the second floor. Miller Construction plans to deliver the new glass and metal-faced auto dealership in spring 2017.

December 9, 2016

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