ARVADA, COLO. — Arvada West Town Center, an 83,278-square-foot retail center, has received $10.5 in refinancing. The 12-building center is located at 14405-14715 W. 64thAve. in Arvada. Notable tenants include Auto Zone, T-Mobile, Wendy’s and Big O Tires. The loan features a 15-year term and 25-year amortization schedule. The loan was arranged by John M. Stewart of NorthMarq Capital’s Denver regional office.
Retail
BURLINGTON, MASS. — KeyPoint Partners LLC has completed the sale of eight properties totaling 440,000 square feet located throughout the New England region for more than $30 million. The properties include shopping centers, mixed-use and single-tenant buildings in Massachusetts, Rhode Island, New Hampshire and Connecticut. The sold properties include Shaw’s Plaza, a 121,660-square-foot shopping center in Providence, R.I.; Colony Mill Marketplace, a 112,000-square-foot mixed-use property in Keene, N.H.; The Center at Keene, a 100,000-square-foot mixed-use property also in Keene; and a 6,889-square-foot Advance Auto Parts in Groton, Conn. The properties in Massachusetts include Norfolk Commons, a new development anchored by a 14,409-square-foot freestanding Walgreens in Norfolk; Lakeview Shopping Center, a 36,250-square-foot neighborhood shopping center in Dracut; a 5,610-square-foot building fully leased to Sleepy’s and Supercuts in Salem; and 8 Brookside Road, a 40,000-square-foot industrial facility in Westford.
NEW YORK CITY — Petco and Santander Bank have signed long-term leases at Jackson Heights Shopping Center in Queens. Petco signed a new lease for 13,500 square feet, which includes 11,000 square feet on the ground floor and 2,500 square feet in the basement of the stand-alone building within the shopping center. Santander Bank, formerly known as Sovereign Bank, will relocate from the ground-floor location it has occupied for the last 20 years to the opposite end-cap retail unit, taking approximately 4,000 square feet. Bill Bergman of Muss Development LLC represented the building’s owner in the Petco transaction. Brian Schuster of Ripco represented the tenant. Bergman and Stan Markowitz of Muss represented the building’s owner in the Santander Bank transaction. Dean Rosenzweig and Jeremy Scholder of CBRE represented the tenant. The 130,267-square-foot Jackson Heights Shopping Center features 24 retail stores and nine offices and is located at 31st Avenue.
SAN DIEGO – A 9,490-square-foot retail building on San Diego’s Coronado Island that is leased to Walgreens has sold to a private California investor for $7.7 million. The building is located at 925 Orange Ave. Walgreens’ agreement features a long-term lease with built-in rental increases and a future landlord recapture right. The institutional seller was represented by Dan Riley and Ben Cherney of CBRE's Private Capital Group – Los Angeles Retail Team. The team also worked with CBRE’s Bill Durslag and Reg Kobzi on this all-cash transaction.
CAVE CREEK, CALIF. — Tatum Plaza, a 29,460-square-foot neighborhood retail center in Cave Creek, has sold to FS Tatum Plaza, LLC for $8 million. The center is located at 29455 N. Cave Creek Road, just north of Scottsdale. It was built in 2007 and is currently 90 percent occupied. Notable tenants at the center include American Family Insurance, Baskin Robbins, Hi Health and Great Clips. Fry’s anchors the center, though this space was not included in the transaction. The seller was Cave Creek and Tatum, LLC, an entity of Park West Partners. The LLC purchased the center on behalf of Westwood Financial. The transaction was executed by Ryan Schubert and Michael Hackett of Cassidy Turley’s Retail Capital Markets Group.
SANTA BARBARA, CALIF. – A 38,015-square-foot building in Santa Barbara that is occupied by Marshalls of California, LLC, has sold to an out-of-state trade buyer for an undisclosed sum. The building is located at 900 State Street. The unnamed Los Angeles seller was represented by Dan Riley and Ben Cherney of CBRE's Private Capital Group – Los Angeles Retail Team on this all-cash, off-market transaction.
MIAMI BEACH, FLA. — Imperium Capital and Centurion Realty, both real estate investment firms based in New York City, have purchased a portion of the Lincoln Road Mall, an eight-block walkway in Miami Beach featuring shops, restaurants and cafes. Imperium and Centurion purchased 643-657 Lincoln Road, a 10,000-square-foot building with four retail tenants, for $33 million. The tenants include French Connection, Runway Swimwear, Sushi Siam and Ricky’s Cosmetics. Jay Goldman of USA Commercial represented the undisclosed sellers in the transaction.
PRATTVILLE, ALA. — GBT Realty has inked leases with several new tenants for Cobbs Ford Village, a new shopping center located off Interstate 65 on Cobbs Ford Road in Prattville, about 14 miles northwest of Montgomery, Ala. The new tenants include Firehouse Subs, Aspen Dental, Bama Fever Tiger Pride, Smashburger and Edible Arrangements. The new retailers will join existing tenants Starbucks Coffee and Gigi’s Cupcakes, as well as a new Chipotle Mexican Grill opening on Feb. 11.
CHICAGO — Dallas-based 7-Eleven has retained Chicago-based NRC Realty & Capital Advisors to coordinate the sale of 72 gasoline stations and convenience stores across the country. The portfolio include 22 locations in Texas, 17 properties in South Carolina, 12 stores in Pennsylvania, nine Ohio properties, four stores in Michigan, three Indiana properties, three stores in West Virginia, a Florida property and one store in Utah. The lot sizes range from approximately 8,000 square feet to 5.6 acres, with store sizes ranging from kiosks to 4,640 square feet. Fifty of the sites being offered are fee-owned properties and the remaining are leaseholds. All sites are being sold without 7-Eleven branding, and most sites are offered with fuel supply, which would be provided by SEI Fuels Inc., a 7-Eleven subsidiary.
NILES, ILL. — An undisclosed seller completed the disposition of Golf Road Plaza in Niles, a suburb northwest of Chicago, for $3.3 million. Auto Zone, L.A. Tan, H&R Block and Discount Mattress occupy the 25,992-square-foot retail strip center. Richard Kehoe of Inland Brokerage & Auctions represented the seller. The buyer was not disclosed.