PFLUGERVILLE, TEXAS — Venture Commercial Real Estate’s investment sales team has arranged the sale of The Shops at 685, an 11,200-square-foot, multi-tenant retail center located in the Austin suburb of Pflugerville. The Shops at 685 is located on 2.1 acres at 2424 FM 685, near the intersection of toll roads SH 130 and SH 45. Tenants include Einstein Bros. Bagels, Pie Five Pizza Co., Chipotle and Mattress Firm. John Zikos, Jonathan Cooper, Christopher Gibbons and Don Miller of Venture’s Investment Sales team represented the buyer, Callaghan Ranch Ltd. Tim Allen of JLL Americas Inc. represented the seller, CSW Pflugerville LLC.
GARLAND, TEXAS — The Weitzman Group has negotiated the sale of a convenience store on 1.4 acres at 4441 Bass Pro Drive in Garland. The purchaser is the operator of the convenience store, Daanya Inc. David Zoller and Joey Keffler of The Weitzman Group handled negotiations as listing agents for the site. The location, branded Beverage City, will continue to be operated as a fuel station and convenience store. A planned internal renovation will upgrade the facility and add a full kitchen. The property, with freeway frontage, is part of Harbor Point, anchored by Bass Pro Shops.
TAMPA, FLA. — HFF has arranged $29.5 million in financing for TriPointe Plaza, a 71,721-square-foot, mixed-use property located in Tampa. Located at 4488 Boy Scout Blvd. in the Westshore District, the property consists of a four-story, Class A office building; 374-space structured parking garage; 10,008-square-foot Eddie V’s Prime Seafood & Steaks restaurant; and 15,005 square feet of ground-floor retail. A drive-through Synovus Bank branch, BNY Mellon, TD Ameritrade and Sharp Electronics anchor the 90 percent-leased office component. Chris Drew and Brian Gaswirth of HFF worked on behalf of the borrower, Cardinal Point Management, to secure the five-year, fixed-rate loan through a life insurance company. Initial loan proceeds were used to acquire the property with the future proceeds going to fund the construction and interior build-out of a rooftop restaurant/lounge area.
OCOEE, FLA. — Calkain has brokered the $1.4 million sale of a single tenant retail property occupied by Dunkin’ Donuts in Ocoee. The recently constructed, 2,126-square-foot building is located at 2266 Ocoee Apopka Road. Patrick Nutt and Andrew Fallon of Calkain represented the seller, an undisclosed developer, in the transaction. The buyer was also undisclosed.
PITTSBURGH — Pittsburgh-based HFF has arranged $210 million in first lien financing for a 10-property retail portfolio totaling 973,985 square feet in Arizona, California, Kansas, North Carolina and Texas. Kevin MacKenzie, Jim Curtin, Cory Fowler, Jamie Kline and Lauren LaFever of HFF worked on behalf of the borrower, Westwood Financial Corp., to place a 10-year, $110 million, fixed-rate portfolio loan with a life insurance company and a $100 million senior credit facility with Wells Fargo Bank’s Real Estate Capital Markets Group. The loans were secured in correlation with Westwood’s recent $1.2 billion consolidation and reorganization. The $110 million loan was secured against six retail assets including the 79,575-square-foot Village Plaza in Phoenix; the 65,054-square-foot Plaza Del Rio in San Juan Capistrano, Calif.; the 103,124-square-foot Stateline Village in Prairie Village, Kan.; the 46,789-square-foot Hebron Parkway Plaza in Carrollton, Texas; the 226,414-square-foot Old Town Shopping Center in Dallas; and the 79,226-square-foot Steelecroft Shopping Center in Charlotte, N.C. Tenants at the 91 percent-leased portfolio include Harris Teeter, Sprouts, Hy-Vee, Tom Thumb, Vons, PetSmart, LA Fitness and Michaels. The assets included in the Wells Fargo credit facility included the 77,031-square-foot Camelback Village anchored by AJ’s Fine Foods in Phoenix; the 89,506-square-foot Mercado Del Rancho …
SAN FRANCISCO — Colliers International has arranged the sale of 220 Post Street, a 37,500-square-foot retail building located in the Union Square neighborhood of San Francisco, for over $70 million. Saks Fifth Avenue currently occupies the property, but will vacate the location in October. An undisclosed Taiwanese investor sold the property to Los Angeles-based Angelo, Gordon & Co. Julie Taylor, Tony Crossley, Tim Maas, Darren Kuiper and Frank Wheeler of Colliers International represented the seller in the transaction. The Colliers team worked alongside China capital expert Yang Chen to negotiate the sale.
SAN DIEGO — CBRE has arranged the $14 million sale of Taco Bell and Shops, an 18,175-square-foot retail strip center in San Diego. Tenants at the center include Taco Bell, El Pollo Loco, Pick Up Stix, AT&T and T-Mobile. Philip Voorhees, Jimmy Slusher, Megan Wood, Matt Burson, Kirk Brummer, Preston Fetrow, John Read and Reg Kobzi of CBRE represented the seller, Los Angeles-based MVR LLC. David Lachoff of Newmark Grubb Knight Frank represented the buyer, an undisclosed, California-based private investor.
PORT HUENEME, CALIF. — HFF has arranged $5.5 million in joint venture equity for the acquisition of Oliveira Plaza, a 116,000-square-foot shopping center located in the Southern California community of Port Hueneme. The center consists of six single-story buildings that are 92 percent leased to tenants including Big Lots, Bank of America, Rite Aid, Citibank, West Marine, Dollar Tree, Panda Express and Carl’s Jr. Greg Brown and Jamie Kline of HFF worked on behalf of Progression REI to arrange the joint venture equity with an institutional equity investor.
CINCINNATI — The Global Operations Center has opened at The Banks mixed-use development in Cincinnati. More than 2,000 employees will work in the 12-story, 338,000-square-foot tower. The main entrance will be at the corner of Second and Rosa Parks streets. The new building is located in Phase II of The Banks, and includes 19,000 square feet of street-level retail space. Taste of Belgium and Pies & Pints are under construction and will open in the coming weeks. Next door, the Radius at The Banks apartment community is also now open. GE has signed a 15-year lease with Carter and Nicol Investment Co., co-owners of the building. PNC Financial Services led the construction financing for the project, and Brasfield & Gorrie oversaw construction along with Cincinnati-based Jostin Construction. RJTR is the architect and CBRE will manage the property.
ROSEVILLE, MICH. — Mid-America Real Estate Corp.’s Investment Sales team has brokered the sale of the Macomb Mall Shops in Roseville, Mich. A private investor purchased the 8,074-square-foot center for $3.6 million. Macomb Mall Shops is located at the northwest corner of Gratiot Avenue and Masonic Boulevard in Roseville. The center’s tenant list includes Potbelly’s, AT&T and Chipotle. Mid-America’s Carly Gallagher, Ben Wineman and Richard Kerwin represented the seller, Bloomfield Hills-based Lormax Stern Development Co., in the transaction.