NEW YORK CITY — Eastern Union Funding has arranged a $3 million loan for two stores in Brooklyn’s Bushwick neighborhood. Located at 22-28 Wyckoff Ave., the single-tenant buildings are occupied by a wine store and an organic grocery store. Customers Bank provided the loan, which features a 4 percent interest rate on a five-year term with no pre-payment penalty after the first year. Jeffrey Seidenfeld of Eastern Union arranged the loan on behalf of the borrower, Jacob Sacks of Cayuga Capital.
Retail
KELLER, TEXAS — UCR Investment Sales has brokered the sale of Tarrant Parkway Commons, a 56,772-square-foot retail property in the Dallas/Fort Worth suburb of Keller. The fully occupied property, located on the northeast corner of U.S. Highway 377 and North Tarrant Parkway, is anchored by Sprouts Farmers Market and also houses Michael’s. Adam Howells, Kevin Catalani and Jessica Donnelli of UCR Investment Sales marketed the asset on behalf of the unnamed seller. The buyer, Inland Real Estate Acquisitions Inc., was represented internally by Matthew Tice.
BEDFORD, TEXAS — Marcus & Millichap has brokered the sale of a 39,350-square-foot property in the Dallas/Fort Worth suburb of Bedford net-leased to 24 Hour Fitness. Located at 1805 Airport Freeway, the site features a population of 240,000 within a 10-mile radius. Jason Vitorino and Jared Aubrey of Marcus & Millichap marketed the asset on behalf of the seller, an out-of-state private investor. Vitorino and Aubrey also secured the buyer, an East Coast-based investor completing a 1031 tax-deferred exchange.
PHOENIX — Ace Hardware has leased 15,000 square feet at Desert Foothills Plaza in Phoenix. The plaza is located at 1323 East Chandler Blvd. in the Ahwatukee Foothills. Notable tenants at the plaza include Bank of America, Big O Tires, Chase Bank, Grease Monkey and Walgreens. Ace Hardware was represented by Brent Mallonee of Cassidy Turley’s retail group. The landlord, Foothills Plaza LLC, represented itself in this transaction.
ALPHARETTA, GA. — North American Properties (NAP) has topped off Avalon, the $600 million, mixed-use development in Alpharetta, an affluent suburb north of Atlanta. NAP has also signed 15 new retailers to the property, making Avalon’s retail component 97 percent pre-leased. The new retailers joining Avalon’s tenant roster include J. Crew, Crate & Barrel, Calypso St. Barth, Bantu, LensCrafters, BCBG, Sunglass Hut, Road Runner Sports, Soft Surroundings, J. Jill, Goldberg’s Deli, J. McLaughlin, Boston Proper, Lou & Grey and Columbia Sportswear. Avalon is set to open to the public on Oct. 30.
MONTGOMERY, ALA. — The Shopping Center Group has arranged the sale of two retail centers in Montgomery totaling $14.4 million. Atlanta-based Monarch Investments purchased both the 165,114-square-foot Promenade Montgomery and the 43,500-square-foot Promenade Montgomery North. The two assets are located approximately 1,000 feet from one another. Kathy Dennis of The Shopping Center Group represented the seller, New York-based Garrison Investment Group, in the transaction. The Shopping Center Group will continue to lease the two retail centers on behalf of Monarch Investments.
ROUND LAKE BEACH, ILL. — CBRE has arranged the lease of a 1,755-square-foot retail space for Sally Beauty Supply LLC. The professional beauty product retailer will occupy space at 272 B East Rollins Road in Round Lake Beach, which is approximately 50 miles north of Chicago. Marcy Wood of CBRE represented Sally Beauty Supply in the transaction. Allan Perales of McCaffrey Interests represented the landlord.
HOUSTON — AmREIT has leased a 7,000-square-foot outparcel at the Woodlake Square shopping center in Houston to Tex-Mex restaurant El Tiempo Cantina. A joint venture between AmREIT and AEW Capital Management acquired Woodlake Square in 2010 and completed redevelopment of the property, which is anchored by Randalls Lifestyle, in 2012. AmREIT purchased the shopping center from the joint venture in September 2013. With El Tiempo Cantina’s lease, the property is now 97.3 percent leased.
WOODRIDGE, ILL. — Sperry Van Ness has arranged the $2.2 million sale of a 13,309-square-foot multi-tenant restaurant property in Woodridge, which is approximately 30 miles west of Chicago. The property is located at 6320 Route 53 and is comprised of two independent restaurant spaces. Tilted Kilt leases one of the spaces. The other restaurant space is vacant and available for lease. Vincent D’Amico of Sperry Van Ness represented the undisclosed seller in the transaction. The buyer was a national investor that specializes in restaurant properties.
KENNER, LA. — Marcus & Millichap has brokered the $55 million sale of a 174,522-square-foot Home Depot located at 2625 Veterans Blvd. in Kenner. Bob Horvath and Todd Tremblay of Marcus & Millichap’s Boston office represented the buyer, Kleban Holdings, in the transaction. William Hoffpauir of Marcus & Millichap is the firm’s broker of record for Louisiana. Eric Carlton of Colliers International listed the property.