DUBLIN, CALIF. — Ross Stores has opened 25 Ross Dress for Less and nine dd’s DISCOUNTS stores across 16 different states in September and October. These new locations round out the company’s 2016 expansion plans to add approximately 90 locations during the year. Ross Stores, Inc. is headquartered in Dublin, Calif., with 1,342 stores in 36 states, the District of Columbia and Guam. The company also currently operates 193 dd’s DISCOUNTS in 15 states.
NEW CANEY, TEXAS — Cinemark Theatres is planning to begin construction on a 10-screen theater in the entertainment district at Valley Ranch Town Center, a development of The Signorelli Co. Valley Ranch is a 240-acre retail district located at the intersection of I-69 and the Grand Parkway. The new theater will be Cinemark’s 13th location in the Houston area and the first new construction, all-reclining seat theater for Cinemark in metro Houston. Each auditorium will feature electric reclining seats with adjustable head and foot rests, and the theater will offer reserved seating, online ticketing and self-serve concessions. The theater is expected to be 40,000 square feet and will open in late 2017 or early 2018.
SAN MARCOS, TEXAS — BMC Capital has arranged the $6.2 million refinancing of a North Carolina Furniture Direct store located in San Marcos. The five-year, fixed-rate loan features a 25-year amortization schedule. Hank Crane of BMC secured the financing on behalf of the borrower through an undisclosed bank.
NILES, ILL. — Baum Realty Group has arranged the sale of Oak Mill Plaza, a grocery-anchored retail property located at 7900 N. Milwaukee Ave. in the Chicago suburb of Niles. Major Realty Group sold the center to an affiliate of Phillips Edison & Co. for an undisclosed price. The 164,000-square-foot property is anchored by Jewel-Osco. Greg Dietz and Danny Spitz of Baum Realty Group represented the seller in the deal.
COLUMBUS, IND. — Namdar Realty Group has acquired State and Mapleton Plaza, a neighborhood retail center located at 2150 State St. in Columbus, about 40 miles south of Indianapolis. A private investor sold the property for a little more than $1 million. At the time of acquisition, the 19,425-square-foot property was fully occupied with CVS/pharmacy and Dollar General as anchor tenants. Joel J. Gorjian of Namdar Realty completed the all-cash, off-market transaction for the company.
BELLEVUE, WIS. — Cohen Financial has secured $9.4 million in acquisition financing for Bellevue Town Center, a retail center located in Bellevue near Green Bay. Dan Rosenberg and Matt Terpstra of Cohen arranged fixed-rate, 10-year loan for the borrower, Midland Atlantic Properties. The 75,000-square-foot retail center is anchored by a Pick ’n Save grocery store.
NEW YORK CITY — Thor Equities has acquired 180 Bedford Avenue in Brooklyn’s Williamsburg neighborhood from an undisclosed seller for $30 million. The company plans to develop a retail building. Designed by Fradkin & McAlpin Architects, the 14,500-square-foot building will feature 120 feet of wrap-around frontage on Bedford Avenue and North Seventh Street. The building will feature brick exterior finishes, floor-to-ceiling glass windows, a 2,500-square-foot roof deck, and 12,000 square feet of floor space divided equally among three floors, including a lower level with 12-foot ceilings. Additionally, the building’s plumbing, electrical and HVAC systems are designed to accommodate a commercial kitchen, should a future tenant need one.
BURLINGTON AND SHELBURNE, VT. — Nedde Real Estate has arranged sale and lease transactions in Vermont. In the first transaction, Champlain Commercial Properties Investment Group completed the disposition of a retail and multifamily property located at 152 Battery St. in Burlington. Red Brick Realty II acquired the property, which features a deli on the first floor and an apartment unit on the second, for an undisclosed price. Cindi Burns of Century 21 Jack Associates represented the buyer, while Fernando Cresta of Nedde represented the seller in the deal. In the second transaction, KPC LLC leased 1,800 square feet of retail space, located at 3198 Shelburne Road in Shelburne, to Natural Mattress Co. Cresta represented the landlord, while Tony Shaw of KW Vermont represented the tenant.
MOBILE, ALA. — Wool Finance Partners has arranged a $7.9 million construction loan for the development of a 101,000-square-foot Publix-anchored shopping center in Mobile. The shopping center is a joint venture between Charlotte-based MAB American Retail Partners LLC and Oak Brook, Ill.-based Inland Retail Centers LLC. Publix will occupy a freestanding, 39,000-square-foot store within the development. Matt Lebenson of Wool Finance arranged the two-year construction loan through an unnamed regional bank. The loan features a 55 percent loan-to-cost ratio and an extension option for the joint venture.
YPSILANTI, MICH. — Colliers International has arranged the sale of Arbor Square Plaza, a retail center located at 4003 Carpenter Road in Ypsilanti. Arbor Square Plaza LLC sold the 27,816-square-foot property to VDG Arbor Square LLC for an undisclosed sum. The property is occupied by Subway, Sprint, The Bread Basket, UPS and State Farm. Jim Chaconas of Colliers represented the seller.
