MORENO VALLEY, CALIF. — Faris Lee Investments has arranged the sale of a Rite Aid property located at 24991 Alessandro Blvd. in Moreno Valley. Karaglanov Trust acquired the asset from P&A Development for $5 million. Built in 1998 and situated on 1.66 acres, the property features 16,730 square feet of retail space. Jeff Conover of Faris Lee represented the seller, while Century 21 Golden Realty represented the buyer in the deal.
CARLSBAD, CALIF. — Matthews Retail Advisors has brokered the sale of a retail property located at 5802 Van Allen Way in Carlsbad. A private family partnership acquired the 3,260-square-foot property from a private seller for $3.6 million. The building is currently leased to 7-Eleven. Aron Cline and Matt Coates of Matthews Retail Advisors represented the seller in the deal.
TAYLORSVILLE, UTAH — S Squared Development, along with financial partner Tri-Gate Capital, has signed several new tenant deals at The Crossroads at Taylorsville in Taylorsville, located off Interstate 25. The property is currently being renovated. A Regal Cinema luxury multiplex is underway and several new restaurants have signed on at the property. Wing Stop plans to open a 2,500-square-foot restaurant in July, and Blaze Pizza is opening a 3,000-square-foot restaurant in September. Additionally, TJ Maxx and Davida Wireless have signed leases at the center, which is located in the Greater Salt Lake City market.
MURPHY, TEXAS — Phillips Edison Grocery Center REIT I Inc., a non-traded retail REIT, has acquired Murphy Marketplace, a 218,598-square-foot, Sprouts-anchored shopping center located in Murphy, a suburb 25 miles northeast of Dallas. The center is home to tenants including Michaels, 24 Hour Fitness, Tuesday Morning, T-Mobile, Chick-fil-A, Einstein Bros. Bagels, Chipotle Mexican Grill, Firehouse Subs and Dunkin’ Donuts. As of June 29, Phillips Edison Grocery Center REIT I owns and manages a retail portfolio consisting of 149 shopping centers totaling approximately 15.9 million square feet.
WALLINGFORD, CONN. — O,R&L Commercial has arranged the sale of Tower Square Plaza, located at 600 N. Colony Road in Wallingford. JMM Associates acquired the 22,160-square-foot retail center from 600 North Colony Road Associates for $2.1 million. The property is occupied by Enterprise Rent-a-car, Panda Garden, Domino’s, Brew and Steak Kings, and other retail tenants. Phil Marshall and Frank Hird of O,R&L Commercial represented the seller and buyer in the transaction.
HAMILTON TOWNSHIP AND FAIRVIEW TOWNSHIP, PA. — Bennett Williams Commercial has brokered two retail transactions in Pennsylvania totaling $2.88 million. In the first deal, Bhamidi Holdings has acquired a retail building located at 3170 Carlisle Pike in Hamilton Township. New Oxford DPP IX sold the 10,542-square-foot property for $1.58 million. Adam Hagerman, Brad Rohrbaugh and Chad Stine of Bennett Williams Commercial represented the buyer in the deal. In the second transaction, Goldstone I purchased an 8,446-square-foot retail building located at 99 Lewisberry Road in Fairview Township. Pavilion Development Group sold the property for $1.3 million. Hagerman, Rohrbaugh and Stine represented the seller in the transaction.
NEW ALBANY, IND. — NorthMarq Capital has arranged a $1.4 million loan to refinance the Silver Run Center in New Albany, approximately five miles northwest of Louisville, Ky. The 11,355-square-foot property, located at 2860-2880 Charlestown Road, is shadow anchored by Kroger. The financing features a fixed-rate, three-year term and 20-year amortization schedule. Randall Waddell of NorthMarq Capital placed the loan with a local bank.
DALLAS — Marcus & Millichap has arranged the sale of a building net leased to Wells Fargo near the Southern Methodist University (SMU) campus in Dallas for an undisclosed price. The property is located at 6900 Snider Plaza. Originally constructed in 1931, the property is located within Snider Plaza and is near Highland Park, SMU and uptown Dallas. Vincent Knipp and Ryan Wolf, both in Marcus & Millichap’s Dallas office, represented the seller, a limited liability company. Preet Sabharwal, Zachary Weiss and Richard Dorfman of Marcus & Millichap’s Manhattan office represented the buyer, another LLC.
HOUSTON — NewQuest Properties has arranged more than 23,000 square feet of retail leases in greater Houston. In the first transaction, Daiso has leased 9,675 square feet of retail space in the Market at Westchase, located at Westheimer at Wilcrest in Houston, from Weingarten Realty Investors. Heather Nguyen and John Nguyen of NewQuest Properties represented the tenant. John Wise of Weingarten Realty Investors represented the landlord. In the second transaction, King’s Biergarten LLC has leased 6,090 square feet of retail space at 2036 E. TC Jester in Houston from 2036 TC Jester LLC. Ashley Williams and Chris Dray of NewQuest Properties represented the landlord. Hugh Ruggles and Mac Ruggles of NewQuest Properties represented the tenant. In the third deal, Sherwin Williams has leased 4,072 square feet of retail space at 14106 Mueschke Road in Cypress from Arbed Mueschke LP. Ashley Williams and David Meyers of NewQuest Properties represented the landlord. Tami Pearson of Waterman Steele Group represented the tenant. In the fourth transaction, Shogun Japanese Grill & Sushi Bar has leased 4,002 square feet of retail space at the intersection of Texas 146 and Interstate 10 in Baytown from NewQuest Properties. Brad Elmore of NewQuest Properties represented the landlord. Bob Conwell …
NEW YORK CITY — The Parkland Group has received $32.1 million in refinancing for a fully-leased retail property located at 200 West End Ave. in Manhattan’s Upper West Side. HFF placed the 15-year fixed-rate loan through MetLife for the borrower. The 25,446-square-foot retail property is leased to CVS/pharmacy, Bin 70, Apple Seeds and Beverly Hills Dry Cleaners. Rob Rizzi and Jennifer Keller of HFF arranged the financing for the borrower.