MANTECA, CALIF. – Mission Ridge, a 96,393-square-foot shopping center in Manteca, has sold to Argonaut Investments for an undisclosed sum. The center is located off Highway 120. It is anchored by Safeway and shadow-anchored by Burlington Coat Factory and Walmart. John DuBois, Mark Denholm and Jon Gianulias of Core Commercial represented both the buyer and seller in this transaction.
NORWOOD, MASS. — EagleBridge Capital has arranged $7.5 million in permanent mortgage financing for four buildings located on Vanderbilt Avenue in Norwood. Ted Sidel and Brian Sheehan of EagleBridge arranged the loan, which was provided by a leading financing institution. Totaling 149,550 square feet, the four properties include 36-76, 45, 190-196 and 375 Vanderbilt Ave., including the Vanderbilt Club and three flex buildings. Tenants at the properties include Office Gallery International, Subway, Orange Leaf Frozen Yogurt, Comcast, International Auto Parts, Exide Technologies, Home Theater Concepts and the Neponsit Valley Chamber of Commerce.
COLLINGSWOOD, N.J. — NAI Mertz has brokered the sale of a mixed-use property located at 814-816 Haddon Ave. in Collingswood. The 6,000-square-foot building sold for an undisclosed sum. The property is occupied by Weinstein Bath & Kitchen Showroom on the ground level. Additionally, the property features three residential units. Jonathan Klear and Scott Mertz of NAI Mertz represented the seller, Dergalcol LLC, in the transaction. The name of the buyer was not released.
SWANSEA, ILL. — BARBERMurphy Group has arranged the sale of a retail and office property, located at 1704 N. Belt West in Swansea, located about 17 miles southeast of St. Louis, Mo. Welzbacher Land Trust sold the 6,012-square-foot property to JHK LLC for an undisclosed price. BARBERMurphy Group represented the seller in the transaction.
COLUMBUS, OHIO — The Cooper Commercial Investment Group has brokered the sale of Bethel Plaza, a 12,516-square-foot retail center located in Columbus. The property sold for $1.6 million, representing an 8.38 percent capitalization rate, or the annual return to the buyer based on the purchase price and the asset’s current net operating income. Anchored by Papa John’s, the center is 100 percent occupied by a variety of tenants. Dan Cooper of Cooper Commercial represented the seller, a private investment group, and the local buyer in the transaction.
CHICAGO — Marcus & Millichap has brokered the sale of a retail property located at 6422 W. Archer Ave. in Chicago. The 8,100-square-foot property sold for $7.5 million. The property is net leased to MB Financial Bank. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, an individual/personal trust, while Steven Siegel, also of Marcus & Millichap, represented the buyer, a limited liability company.
DALLAS — RAA Investments Inc. has sold a commercial property fronting West Lovers Lane to a local investor in an all-cash transaction. The existing business, Foster Cleaners, will close at the end of this month. The structure, totaling 5,100 square feet, sits on nearly 0.3 acres at 4931 W. Lovers Lane in Dallas. MSM Trust was the buyer. The property is located directly across the street from Providence Christian School of Texas and close to Love Field, Inwood Village and the Pavilion on Lovers Lane.
SEATTLE — Retail Properties of America (RPA) has acquired Woodinville Plaza, a 171,000-square-foot shopping center near Redmond, for $35.3 million. The center is located at 14001 – 14235 NE Woodinville Duvall Road in Woodinville, on the eastside of the Puget Sound region. Woodinville Plaza was 91 percent occupied at the time of closing. It is anchored by County Market, a SuperValu concept. Other notable tenants include T.J. Maxx and Rite Aid.
RIDGECREST, CALIF. – Ridgecrest Town Center, a 204,709-square-foot community center northeast of Bakersfield, has sold to El Rey Properties for $5.8 million. The center is located at the corner of North China Lake Boulevard and Drummond Avenue. It is fully leased to Jo-Ann Fabrics & Crafts, Marshalls, and DSS Shoes. The seller was China Lake 700 LLC. The buyer was represented by Steve Heri and Steve Gim of NAI Capital.
SACRAMENTO, CALIF. – Riverpoint Marketplace in west Sacramento has sold to Excel Trust for an undisclosed sum. The power center is anchored by Ikea, Walmart Supercenter, Home Depot, Petco and Ross. John DuBois, Mark Denholm and Jon Gianulias of Core Commercial represented both the buyer and seller, Buzz Oates Group of Cos., in this transaction.