CUYAHOGA FALLS, OHIO — Mission Capital Advisors has arranged non-recourse financing totaling $14.3 million on behalf of PEBB Enterprises for two shopping centers. The properties include the Shoppes at Chapel Hill, a regional shopping center in Cuyahoga Falls, Ohio, and Walden Park Shopping Center in Austin, Texas. Jordan Ray, Ari Hirt, Steve Buchwald and Jamie Matheny of Mission Capital Advisors represented PEBB Enterprises in arranging the 10-year loans for both deals. The Shoppes at Chapel Hill is an 85,229-square-foot shopping center. Staples and Michael’s anchor the shopping center, which also includes Panera Bread and Brick House Tavern. The 57,569-square-foot Walden Park Shopping Center includes a mix of national and local retailers.
MARYVILLE, MO. — Chicago-based Baum Realty Group LLC has brokered the $5.3 million sale of a single-tenant property in Maryville net-leased to Walgreens. The property, located in northwest Missouri, was sold at 99 percent of its asking price. Walgreens has 20 years remaining on the triple-net lease. Patrick Forkin and Brad Teitelbaum of Baum represented the seller, a Missouri-based private developer, in the transaction. A West Coast-based private investor purchased the property in a 1031 tax-deferred exchange.
MELBOURNE, FLA. — BishopBeale plans to construct Pineda Landings, a 50,000-square-foot, 17.5-acre retail development at the corner of Wickham Road and Jordan Blass Drive in Melbourne. The shopping center will be anchored by The Fresh Market, the first location for the specialty grocer in Brevard County. The shopping center is expected to open for business by the fall of 2015. BishopBeale will handle all leasing and development management for the project.
POUGHKEEPSIE, N.Y. — DLC Management Corp. has acquired The Shoppes at South Hills, a retail power center located in Poughkeepsie. The 518,000-square-foot center was purchased for an undisclosed price. The Shoppes at South Hills is occupied by a variety of tenants, including ShopRite, Burlington Coat Factory, Christmas Tree Shop, Hobby Lobby, Kmart, Ashley Furniture HomeStore, Bob’s Discount Furniture and Chuck E. Cheese. Jose Cruz and Marc Duvall of HFF represented the undisclosed seller in the transaction.
MISSION VIEJO, CALIF. – C3 Properties LLC has purchased three outparcel retail pads at the Trabuco Hills Shopping Center in Mission Viejo for $15 million. The pads total 24,250 square feet. They are located at 27785, 27845 and 27865 Santa Margarita Parkway. The pads are fully leased to Walgreens, Claim Jumper and Ramona Tire & Service. C3 Properties was represented by HFF’s Trevor Harris, Matt Crawford and Jim Wellbaum of Triwell Properties. The seller, Trabuco Hills Pads LLC, was represented by CJ Osbrink and Nick Foster of the same firm.
FREMONT, CALIF. – Pacific Commons, a 1.1-million-square-foot power center in Fremont, has received 12 new tenants. The newest residents include Dick’s Sporting Goods, the Kebab Shop, Buffalo Wild Wings, Dish ‘N Dash, Carter’s/Osh Kosh, Bennigan’s, Cream, Bowl of Heaven, Pancheros Mexican Grill, Boneheads, Technology Credit Union and Ono Hawaiian BBQ. The majority of retailers will open next spring, while Dick’s Sporting Goods, the Kebab Shop and Buffalo Wild Wings all premiered recently. Vestar serves as Pacific Common’s property manager. The landlord is a large institutional owner.
MOBILE, ALA. — Marcus & Millichap has brokered the $5.8 million sale of Vigouroux Marketplace, a 66,125-square-foot shopping center anchored by Winn Dixie and Rite Aid. The shopping center is located at 9948 Airport Blvd. in Mobile. Built in 1997, the asset was 92 percent leased at the time of sale. Andrew Chason of Marcus & Millichap’s Mobile office represented the seller, a Mobile-based limited liability company, in the transaction. Jason Cropper of Marcus & Millichap’s Little Rock office represented the buyer, a New York-based private investment group.
TORRANCE, CALIF. — Costco has acquired a 23-acre parcel in Torrance where it plans to expand one of its local stores. The sales price was not disclosed. The land is located at 2740 Lomita Blvd., between Crenshaw and Hawthorne boulevards. Costco plans to break ground on a new 164,000-square-foot store in the first quarter of 2015. It is slated for completion by the end of the year. The wholesale warehouse first opened its 148,000-square-foot Torrance location in 1998. Costco was represented by Steve McArthur of Northwest Atlantic Partners. The seller, the Rockefeller Group, was represented by Todd Taugner, David Prior and Frank Schulz of the Klabin Company.
OVERLAND PARK, KAN. — Mid-America Real Estate Corp. has brokered the sale of Quivira Crossings located in Overland Park. Cincinnati-based Phillips Edison purchased the 111,304-square-foot grocery-anchored center for $14.5 million. Quivira Crossings is located at 135th Street and Quivira Road and features a long-term lease with grocery store Price Chopper. Joe Girardi of Mid-America listed the property on behalf of an investment group advised by Overland Park, Kan.-based Rubenstein Real Estate Co.
CUYAHOGA FALLS, OHIO — Marcus & Millichap has brokered the $1.6 million sale of a Huntington Bank triple-net ground-lease in Cuyahoga Falls, located approximately 39 miles south of Cleveland. The property is an out-parcel to the recently constructed Portage Crossing development, which is anchored by Giant Eagle Market District, LA Fitness and Cinemark. Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap’s Cleveland and Columbus offices represented the seller, an Ohio-based limited liability company. Colliers Phoenix represented the California-based buyer who purchased the property in a 1031 tax-deferred exchange.