SAGINAW, TEXAS — Robert Dorazil of United Commercial Development (UCD) has purchased a 21-acre property on the southwest corner of Bailey Boswell Road and FM-156 in Saginaw. Edward Bogel and David Davidson Jr. of Davidson & Bogel Real Estate brokered the transaction. UCD will be developing retail shop space on the property and is working with DB2RE on the retail pad sites, as well as selling multifamily land on the south side of the property.
FORT LAUDERDALE, FLA. — Aztec Group has secured a $26 million construction loan for Phase II of Riverbend Marketplace, a 37-acre, Walmart-anchored development in Fort Lauderdale. The 189,000-square-foot Walmart Supercenter opened in January 2016 and sold earlier this month for $26.1 million. Phase II of Riverbend Marketplace will consist of 83,000 square feet of retail and restaurants and five outparcels. The borrower, an affiliate of Gatlin Development Co., broke ground on Phase II earlier this month. The new tenants joining Riverbend Marketplace include Planet Fitness, Chipotle, Lucky Me and T-Mobile. The new outparcel tenants will include Wawa, Krispy Kreme and McDonald’s.
CLAWSON, MICH. — Mid-America Real Estate Corp. has arranged the sale of Clawson Center, a 130,424-square-foot grocery-anchored shopping center located in the northern Detroit suburb of Clawson, for an undisclosed price. Tenants at the center include Aldi, Dollar Tree, O’Reilly Auto Parts, Rite Aid and Staples. The shopping center was 80 percent occupied at the time of sale. Ben Wineman and Daniel Stern of Mid-America represented the seller, Kimco Realty, in the transaction. Viking Partners was the buyer.
HUNTINGTON BEACH, CALIF. — Hanley Investment Group has arranged the $18.6 million sale of a newly redeveloped retail center located on the corner of Brookhurst Street and Adams Avenue in Huntington Beach. Tenants at the fully occupied, 24,000-square-foot center include PetSmart, U.S. Bank, Phenix Salon, Tenet Healthcare and Orangetheory Fitness. LBG Real Estate Cos. LLC sold the property to an Orange County-based private investor. Ed Hanley, Bill Asher and Eric Vu of Hanley Investment Group arranged the sale of the property in an off-market transaction.
DUBLIN, CALIF. — Ross Stores recently opened 22 Ross Dress for Less® and six dd’s DISCOUNTS stores across 15 states in February and March. These new locations are part of the company’s 2016 expansion plans to add approximately 70 Ross and 20 dd’s DISCOUNTS locations throughout the year. “These recent openings reflect our ongoing plans to continue building our presence in both existing and newer markets, including the Midwest for Ross, and expansion of dd’s DISCOUNTS,” says Jim Fassio, president and chief development officer. “Ross Dress for Less remains the largest off-price apparel and home fashion chain in the U.S with 1,295 locations in 34 states, the District of Columbia and Guam. We continue to identify plenty of domestic growth opportunities ahead for both Ross and dd’s DISCOUNTS, and believe that over the long term, Ross can grow to 2,000 total locations and dd’s DISCOUNTS can become a chain of 500 stores.” Ross Stores, Inc. is headquartered in Dublin, Calif.
MESA, ARIZ. — HFF has arranged $6.3 million in acquisition financing for Marketplace at Signal Butte, a 116,358-square-foot, grocery-anchored retail center located in Mesa. Basha’s anchors the center, which is home to tenants including Big 5 Sporting Goods, Denny’s, Dollar General, Golden China, Sunrise Daycare, US Nail Spa, Edward Jones, Papa John’s Pizza and H&R Block. Greg Brown of HFF worked on behalf of the borrower, Progression REI, to place the 10-year, fixed-rate loan with Wells Fargo Bank.
HUMBLE, TEXAS — T.J. Maxx has signed a new 22,000-square-foot lease for a store in Westlake Marketplace, a shopping center located at Beltway 8 and West Lake Houston Parkway in Humble. Culver Stedman of EDGE Realty Partners represented the tenant, and Carson Wilson of Fidelis Realty Partners represented the landlord.
CHAPEL HILL, N.C. — Unison Realty Partners has purchased Chatham Crossing, a 96,155-square-foot neighborhood shopping center in Chapel Hill. The property was 90 percent leased at the time of sale to tenants such as Lowes Foods and CVS/pharmacy. Unison Realty’s plans for the property include stabilizing existing tenants, updating the façade of the building and leasing up the shopping center’s remaining vacancies. Berkeley Capital Advisors brokered the acquisition. Chatham Crossing is Unison Realty’s first acquisition in North Carolina.
COLUMBUS — SRS Real Estate Partners has brokered the sale of a retail property net leased to Champps Americana Restaurant in Columbus for an undisclosed price. The 10,582-square-foot restaurant is situated on two acres at 3993 Morse Crossing. Pickerington Square LP purchased the property, which is an outparcel to a power center. Kyle Stonis, Pierce Mayson, John Topping Jr. and Brad Gibbs of SRS Real Estate Partners represented the sellers, a group of tenant-in-common co-owners, in the transaction. The buyer was self represented.
SAN DIEGO — American National Investments has acquired a restaurant building located at 369 10th Ave. in downtown San Diego’s East Village neighborhood. The 4,000-square-foot asset sold for $2.3 million. The buyer plans to operate a restaurant at the two-story property. Retail Insite represented the undisclosed seller in the transaction.