ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of North Davis Plaza, a 12,054-square-foot retail property located in Arlington. Bill G. Jordan of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a partnership. Jordan also secured the buyer, a private investor. North Davis Plaza is located at 2430 N. Davis Drive. The shopping center was built in 1985 and is 52 percent occupied. Tenants include Animal Clinic of Arlington, Mr. Jim’s Pizza, Sportswear World and The Dog Grooming Shop.
CHAPIN, S.C. — Aztec Group Inc. has secured a $14 million construction loan for Chapin Crossing Shopping Center, a Publix-anchored project underway in Chapin. The shopping center will feature a 45,600-square-foot Publix, roughly 36,000 square feet of inline shop space and three outparcels that can span up to 41,000 square feet. The project will be situated on a 20-acre lot near Lake Murray. Jason Shapiro and Sean Harrington of Aztec Group originated the three-year loan on behalf of the borrower, Chapin & Lex LLC, a joint venture between Mayan Properties, Elion Partners and CF Properties. The loan features a four-year extension option.
HOUMA, LA. — Venture Commercial Real Estate and SRSA Commercial Real Estate, two X Team International partners, have arranged a 20,023-square-foot lease for Northern Tool + Equipment in Houma. The family-owned and operated chain of hardware stores will occupy space at Houma Power Center, joining Old Navy, Burkes Outlet, Shoe Carnival and Pier 1 Imports. The shopping center is located between Martin Luther King Boulevard and West Main Street. Clay Mote of Venture Commercial and Kirsten Early of SRSA Commercial represented Northern Tool in the lease deal. Austin Lavin of Corporate Realty represented the landlord, Andrew Associates LLC. The Houma store will be Northern Tool’s second location in Louisiana.
PLEASANT PRAIRIE, WIS. — Siegel-Gallagher has arranged a 2,034-square-foot retail lease in Pleasant Prairie, approximately 37 miles south of Milwaukee. Fast Signs will occupy the space at Center 50, which is located at 4623 75th St. Center 50 LLC is the landlord. Devin Tessmer of Siegel-Gallagher brokered the transaction.
MADERA, CALIF. — Newmark Grubb Pearson Commercial has arranged the sale of a retail building located at 100 E. Yosemite Ave. in Madera. Serranos Rentals acquired the 15,000-square-foot property from Barsotti Family LLC for an undisclosed sum. Craig Holdener and Troy McKenney of Newmark Grubb Pearson arranged the transaction.
SAN DIEGO — Flocke & Avoyer Commercial Real Estate has brokered the sale of a commercial building located at 9906 Carmel Mountain Road in San Diego. The Bradley Family Trust and McGuiness Family Trust sold the property to The Bertrand Family Trust for $1.6 million. Bertrand’s Music will occupy the 3,342-square-foot property. Brian Quinn of Flocke & Avoyer represented the sellers in the transaction.
FRESNO, CALIF. — Tree of Life has signed a lease for 2,547 square feet of retail space at 2139 Kern St. in Fresno. The landlord is Banner Bank. Phil Souza, Jeremy Reed and Jessica Young of Newmark Grubb Pearson Commercial handled the lease transaction.
PLANO, TEXAS — Yeager has broken ground on a 48,300-square-foot mixed-use development in Plano known as Yeager at Rasor Pointe. The Indiana-based developer expects to complete the project, which includes 39,750 square feet of office suites and 8,550 square feet of retail and restaurant space, by early August. The property will be located on a 3.8-acre lot at the northeast corner of Rasor Boulevard and Ohio Drive.
FRISCO AND SAN ANGELO, TEXAS — In two separate transactions, real estate capital advisory firm Quantum Capital has arranged $22.2 million in long-term, non-recourse debt to refinance regional shopping centers in Frisco and San Angelo. In the larger of the two deals, Quantum secured a $12.9 million non-recourse permanent loan on behalf of the borrower, a Los Angeles-based investor operating as TRT-QL Frisco. The loan will replace the maturing debt on Frisco Plaza, a 62,500-square-foot retail center located at Preston Road and Highway 21. The shopping center is located across the street from General Growth Properties’ 1.6 million-square-foot Stonebriar Centre, the primary retail destination in Frisco. Quantum also secured a $9.2 million permanent loan for another Los Angeles-based investor operating as Rancho Sunset Plaza LP to refinance Sunset Plaza in the west Texas city of San Angelo. The property is a 90,000-square-foot regional power center located on Sunset Drive at Highway 67 and Loop 306. Sunset Plaza is anchored by Target, Bed Bath and Beyond, Petco and Ross Dress for Less. Both fixed-rate loans were underwritten at a 75 percent loan-to-value ratio and priced at 250 basis points over the 10-year swap rate of 1.71 percent. The financings also included …
HUMBLE, TEXAS — Colliers International has negotiated the sale of a 0.7-acre tract of vacant land for the development of a Waffle House restaurant. Construction is expected to start by the fourth quarter of 2016. The property is located at the northwest corner of Will Clayton Parkway and Vine Forest Drive in Humble. Tom Condon Jr. of Colliers International’s office in The Woodlands represented the seller, Patricia Al-Attas Barrett & Bamardouf, Babidan, Al-Attas Joint Venture. Russ Holland internally represented the buyer, Waffle House. David Pitschmann with Alamo Title Co. coordinated the closing.