BINGHAM FARMS, MICH. — Bernard Financial Group has arranged a $1.6 million loan for Bingham Retail, an 8,999-square-foot retail property in Bingham Farms. The property is located on an outlot of an 815,539-square-foot, five-building office park. Dave Dismondy of Bernard Financial originated the loan for the borrower, Bingham Retail LLC. The lender, Stancorp Mortgage Investors, LLC is an exclusive correspondent of Bernard Financial.
DE PERE, WIS. — The Boulder Group has arranged the $1.3 million sale of a single-tenant KinderCare property in De Pere, a suburb of Green Bay. The net-leased property is located at 1553 Arcadian Lane. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate fund. A family office from the West Coast purchased the property. KinderCare has operated at this location since 1999 and recently elected to execute an early lease extension. KinderCare is a for-profit childcare provider operating more than 1,600 locations.
BROWNSVILLE, TEXAS — Fort Worth-based Morris Capital Partners has acquired the Morrison Crossing retail center in Brownsville. The development is shadow-anchored by Home Depot, Academy Sports + Outdoors and Kohl’s, spans 96,713 square feet and is located on US 83/77. Morris Capital partnered with The Clower Co. of Corpus Christi on the acquisition. Morris Capital was founded in 2010 by Bill Morris and now owns 10 shopping centers with more than 1 million square feet in five states.
GARLAND, TEXAS — Henry S. Miller Brokerage has sold off the Broadway Corners Shopping Center in Garland. The 13,719-square-foot shopping center was built in 2004 and is located at 5949 Broadway Blvd. near the intersection with Interstate 30. Henry S. Miller brought the property with a syndication of investors in 2005.
WEST COVINA, CALIF. – South Hills Plaza, a 120,589-square-foot community shopping center in West Covina, has sold to LT Global for $20.6 million. The center is located at the corner of Azusa Avenue and East Aroma Drive. Notable tenants include Marukai Market, 24 Hour Fitness, Taco Bell, Subway, USPS and Charter Communication. CBRE’s Philip D. Voorhees, Jimmy Slusher, Megan Read, Matt Burson, Brad Rable and John Read represented both the buyer and seller, a Los Angeles-based partnership, in this transaction.
LORAIN, OHIO — Namdar Realty Group has acquired a 200,000-square-foot shopping center in Lorain, approximately 29 miles west of Cleveland. The Center of Sheffield features national and regional tenants including Apple’s Market, Marc’s and H&R Block. The property is located at 400 Sheffield Center. Joel Gorjian led the Namdar Realty Group team in the transaction. Namdar’s portfolio consists of 16 million square feet of commercial real estate nationwide.
MOUNT PLEASANT, MICH. — AT&T has signed a 1,920-square-foot retail lease in Mount Pleasant. The mobile provider will occupy space within the Pickard Square shopping center located at Pickard Road, is just east of Mission Street. This will be the second AT&T location in Mount Pleasant. Larry Siedell and Tjader Gerdom of Gerdom Realty and Investment represented the landlord. Steve Millman of Northstar Commercial Real Estate represented the tenant in the lease.
BROOKFIELD, WIS. — Aspen Physical Therapy has leased 3,000 square feet of space at Ruby Isle. The shopping center is located at 2205 N. Calhoun Road in Brookfield, 12 miles west of Milwaukee. Teresa Shemitis of Mid-America Real Estate –Wisconsin LLC represented the landlord in the transaction.
ADAMSVILLE, ALA. — Marcus & Millichap has brokered the $2.7 million sale of Adamsville Town Center, a 26,026-square-foot strip retail center in Adamsville. Built in 2006, the property’s tenant roster includes Dollar General, Advance America, 1st Franklin, Papa John’s Pizza, Alfa Insurance and Alabama Power. Andrew Chason of Marcus & Millichap’s Mobile office represented the seller, a limited liability company based in Birmingham, in the transaction. The buyer was a private investment firm based in Birmingham.
DENVER – Greenbriar Plaza Shopping Center in Denver has sold to JS Western Retail Investments for $8.2 million. The center is located at 7041-7181 Pecos Street. It is fully occupied by 21 tenants, including Family Dollar, Ace Hardware, Pizza Hut and Grease Monkey. Acquisition financing was arranged by Bryan Gortikov of George Elkins Mortgage Banking Company. This is JS Western’s first acquisition in Colorado. The firm was represented by Chris Wiedenmeyer of Legacy Retail Group. The seller, Real Capital Solutions, was represented by Barry Higgins of Marcus and Millichap.