BELLEVILLE, N.J. — Trevian Capital has funded a $16.5 million first-mortgage bridge loan secured by a fully occupied self-storage and warehouse facility in Belleville. The loan proceeds are being used to pay off an existing defaulted CMBS loan, fund the build-out of an additional 510 self-storage units, and provide the borrower cash out refinancing. The property is primarily occupied by Safe & Secure Self Storage, which occupies 300,000 square feet, with an additional 100,000 square feet of warehouse/storage space leased on a long-term basis to Essex County and Ecuadorian Rain Forest. Additional terms of the financing, including the name of the borrower, were not released.
BROOKLYN PARK, MINN. — Marcus & Millichap has brokered the $7.1 million sale of a 34,000-square-foot retail property in Brooklyn Park, a northern suburb of Minneapolis. Sean Doyle, Matthew Hazelton, Cory Villaume, and Adam Prins of Marcus & Millichap represented both the undisclosed buyer and seller. Petco anchors the shopping center, and other tenants include Chipotle, Caribou Coffee, Panda Express and Gamestop.
FREDERICKSBURG, VA. — Coldwell Banker Commercial Elite has brokered the $4.6 million sale of a 13,900-square-foot retail building located at 10059 Jefferson Davis Highway in Fredericksburg. The property was fully leased at the time of sale to tenants such as Panera Bread, Avail Vapor, Blue Pearl Nails & Spa and a barbershop. The property is located within the Cosner’s Corner Shopping Center. Joe Pfahler of Coldwell Banker Commercial Elite represented the seller, G & S Lantier Properties LLC, in the transaction. Geoff Lindsay of Capital Realty Advisors represented the buyer, GPAC Properties LLC.
SUWANEE, GA. — Marcus & Millichap has brokered the $3.7 million sale of Moore Road Village, a 20,000-square-foot retail strip center located at 991 Peachtree Industrial Blvd. in Suwanee, a northeast suburb of Atlanta. Built in 2008, the property’s tenant roster includes FedEx Office, American Body Works, T-Mobile and Riverside Pizza. Craig Johnson and Tim Giambrone of Marcus & Millichap’s Atlanta office represented the seller, a private investor, in the transaction. Johnson and Giambrone also secured the buyer, which was also a private investor.
GALVESTON, TEXAS — Marcus & Millichap has arranged sale of Jamaica Village Shopping Center, a 21,065-square-foot retail property located in Galveston. Derek Hargrove and Matthew Mignerey of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. The team secured a Houston owner and facilitated the sale with a local bank lender. Jamaica Village Shopping Center is located at 16708 San Luis Pass Road.
BELLEVUE, WASH. — The Bellevue Collection has received a $526 million construction-to-permanent loan to expand the 4-million-square-foot, mixed-use property in Bellevue. The new 1.5-million-square-foot phase will be known as the Lincoln Square Expansion. The development, which is currently underway, will include a 41-story multifamily/W Hotel tower, a 31-story trophy office tower, and a three-level retail podium, which will be anchored by a luxury theater and chef-driven restaurants. The retail podium and towers will sit above a six-level underground parking garage that is contiguous with more than 4,000 existing subterranean parking spaces. An affiliate of CPPIB Credit Investments Inc., a wholly owned subsidiary of Canada Pension Plan Investment Board (CPPIB), provided the financing. The single source of capital was attractive to the borrower because it removed syndication risk and provided a single point of contact. Dave Karson, Alex Hernandez and Chris Moyer of Cushman & Wakefield represented the borrower, Kemper Development Co.
HAINES CITY, FLA. — Axiom Capital Advisors has brokered the $12 million sale of a Publix-anchored shopping center located at 600 US Highway 17-92 in Haines City. The 118,848-square-foot shopping center’s tenant roster includes Bealls Outlet, Dollar General and Anytime Fitness. Roberto Susi of Axiom represented the buyer, Haines City Mall LLC, in the transaction. Craig Callaway and Eric Bylin of BlueGate Partners represented the seller, Haines Mall LLC, an affiliate of Blackpoint Partners.
NEW YORK CITY — An undisclosed buyer has acquired a mixed-use building located at 1902 Church Ave. in Brooklyn’s Flatbush neighborhood. The corner property sold for $3.3 million, or $357 per square foot, in an all-cash transaction. The three-story, 9,250-square-foot building features nine rent-stabilized apartments and three commercial units. Richard Velotta of Cushman & Wakefield handled the transaction. The name of the seller was not released.
HOUSTON — Joybird Furniture, a mid-century modern furniture company based in Los Angeles, has opened its first retail location at 1735 Westheimer Road in Houston. Mark Davis of Davis Commercial Real Estate represented the landlord, 1735 Westheimer LLC, in the transaction. The 2,000-square-foot space is located between Dunlavy and Woodhead streets across from Empire Cafe.
HOUSTON — Marcus & Millichap has arranged the sale of Copperfield Place Shopping Center, a 30,330-square-foot retail property located in Houston. Marcus & Millichap marketed the property on behalf of the seller, a local partnership, and brought the deal to the buyer, a local developer and investor. Copperfield Place Shopping Center is located on Highway 6 North in Houston within the Copperfield master-planned community.