WOODSTOCK, GA. — BMC Capital has arranged a $1 million cash-out refinance of a McDonald’s and Verizon Wireless store in Woodstock, a northern suburb of Atlanta. Brian Gramlich of BMC Capital’s Dallas office arranged the five-year loan through an unnamed bank of behalf of the borrower. The loan was structured with a fixed 3.63 percent interest rate and a 25-year amortization schedule.
ASHTABULA, OHIO — The Cooper Commercial Investment Group has brokered the $1.9 million sale of a 16,820-square-foot retail center in Ashtabula, approximately 60 miles northeast of Cleveland. A Cleveland-based private investor sold AT&T Plaza to a Kansas buyer. Tenants at the shopping center include AT&T, Springleaf Financial, Best Cuts and Cashland. Dan Cooper of Cooper Commercial represented the seller in the transaction.
MINNEAPOLIS — Oppidan Investment Co. has sold the White Bear Marketplace in Minneapolis for an undisclosed price. Oppidan developed the 118,627-square-foot shopping center on a site previously occupied by Kmart. Cub Foods, Planet Fitness, Northern Tool and Starbucks co-anchor the newly constructed retail center. Jim Leary and Jeff Budish of CBRE represented Oppidan Investment Co. in the transaction. The buyer was a regional private investor.
CARROLLTON, TEXAS — WinCo Foods plans to develop an 82,077-square-foot anchor store at Trinity Valley Shopping Center located at the northeast corner of the President George Bush Turnpike and Josey Lane in Carrollton. The new WinCo will be developed at the site of a former Target, which closed in January 2015. Josey Trinity Mills Ltd. acquired the building in October. The site will be demolished in April, and the new WinCo is scheduled to open in early 2017. The project’s leasing team, Matt Luedtke and Steve Gray with The Weitzman Group, along with Cencor Realty Services’ Randy Stebbins and Joe Lea, worked on behalf of the center’s ownership to negotiate the acquisition of the vacant Target and bring in WinCo for the new anchor store. DWC Commercial and Venture Commercial represented the grocer. Trinity Valley Shopping Center opened in the 1970s and remains a retail destination in the trade area. The center incorporates nearly 300,000 square feet of retail space leased to Ulta Beauty, Ross Dress for Less, rue21, Petco, Chili’s, Lane Bryant and Dress Barn. Stebbins will direct the development of the new anchor store on behalf of the center’s ownership. Cencor’s Kathy Detrick is managing the construction of …
RICHARDSON, TEXAS — Good Union Urban BBQ has opened its first location at CityLine, a 186-acre mixed-use project located in the Dallas suburb of Richardson. The restaurant is located on the street level of One CityLine at 1150 State Street, and serves Texas barbecue favorites like USDA prime brisket, pork, sausage, ham, turkey and ribs. Patio seating is available facing the central plaza of the development, allowing guests to enjoy live music and events planned by CityLine. Other recent openings at the development include Nestle Toll House Café by Chip, Top Pot Doughnuts & Coffee, Red Mango, Starbucks Coffee and Tom+Chee. Whole Foods Market, Bite City Grill, Coal Vines, Edoko Sushi and Robata, Fernando’s, Jasper’s and Tricky Fish are scheduled to open at the CityLine later this year.
LAS VEGAS — Wynn Las Vegas is set to develop Wynn Plaza, a 75,518-square-foot luxury retail complex set to augment the existing retail collection at Wynn Las Vegas and Encore on Las Vegas Boulevard. The design of Wynn Plaza will be influenced by European elements, specifically the Avenue Matignon in Paris. The two-story center will feature two entrances off the Strip, a dedicated valet service, atriums and a skylight rotunda. Steve Wynn, chairman and CEO of Wynn Resorts, designed the project in collaboration with Roger Thomas, executive vice president of Architecture DeRuyter Butler, and Wynn Design and Development. The project is set for completion in 2017.
LOS ANGELES AND LAS VEGAS — Ready Capital Structured Finance has closed three loans throughout California and Nevada for a total of $15.9 million. Properties that received financing include a 24-unit multifamily community in Beverly Hills that will use the funds for renovation and stabilization; a 499-unit self-storage facility in Corona that will use the funds for refinancing and stabilization; and a 32,800-square-foot retail center in Las Vegas that will use the funds for the development and stabilization of the property.
HOMESTEAD, FLA. — Franklin Street has brokered the $9 million sale of Dixie Center, a grocery-anchored shopping center located at 30200-30394 Old Dixie Highway in Homestead, a city in Miami-Dade County. Built in 1985, the shopping center was 93 percent leased at the time of sale to tenants such as Winn-Dixie and Family Dollar. The sale includes three outparcels totaling 2.7 acres. The buyer, a private investor from Canada, financed the acquisition with a CMBS loan, which was sourced by FM Capital. Pete Crane, Greg Matus and Robert Granda of Franklin Street represented the seller, Palm Beach Gardens, Fla.-based Noble Properties. Franklin Street’s Insurance Services team arranged insurance for the buyer, which has retained Franklin Street to lease and manage the shopping center.
LAS VEGAS — Meridian Capital Group has arranged $20 million in financing for the acquisition of a single-tenant, 16,000-square-foot Walgreens located on the Las Vegas Strip. Steven Tessler of Meridian secured the 10-year, interest-only loan through a balance sheet lender. The property is located at 3025 S. Las Vegas Blvd. near the Wynn and Encore hotels. The buyer and seller were not disclosed.
CHULA VISTA, CALIF. — Interstate 5 Center LLC has acquired a 71,490-square-foot retail center located at 1008 Industrial Blvd. in Chula Vista for $8 million. Toys ‘R’ Us occupies 42,540 square feet at the center, while two buildings totaling 28,950 square feet currently remain vacant. Chris Amble and Brian Chambers of Wells Fargo Bank arranged financing for the transaction. A redevelopment and lease-up is currently planned for the site.