MILLVILLE, N.J. — CBRE Group Inc. has completed the $1.3 million sale of a 8,640-square-foot, net-leased building in Millville, located in southeast New Jersey. Dollar General occupies the building, which is located at 1406 N. High St., under a long-term lease. Elli Klapper and Charles Berger of CBRE’s Private Capital Group represented the seller, a private investor.
Retail
LEWISVILLE, TEXAS — Kroger and retail development services leader Cencor Realty Services have revealed plans for a Kroger Marketplace-anchored community/regional-draw center to be located at the southwest corner of SH-121 and Josey Lane in Lewisville. Of the development’s 350,000 total square feet, the Kroger Marketplace, which will offer furniture, housewares, small appliances and more alongside the traditional grocery items, will occupy 123,000 square feet. Retail shops will account for the remaining space, and additional footage will host freestanding, small-shop and restaurant renters. Cencor’s sister company, the Weitzman Group, will handle the leasing of the development.
SILVER SPRING, MD. — Regency Centers Corp. has purchased the Shoppes of Burnt Mills, a 31,316-square-foot neighborhood shopping center located in Silver Spring, for $13.6 million. Constructed in 2004, the property is anchored by Trader Joe’s. Additional tenants include Starbuck’s Coffee, Chico’s and AT&T. Regency completed the purchase in partnership with an undisclosed investor. The seller’s name was also not disclosed.
COLUMBIA, S.C. — Berkeley Capital Advisors has brokered the sale of a retail property occupied by Ashley Furniture HomeStore in Columbia for $4.9 million. Ashley occupies the property under a new 12-year, absolute net lease. Berkeley Capital’s Steve Horvath and Jay Levell represented the seller, a private partnership. The buyer was a private party completing a 1031 exchange.
CARROLLTON, GA. — Q10 | Professional Mortgage Co. has arranged a $12.4 million acquisition loan for McIntosh Plaza, a 161,257-square-foot retail center located at 1109 S. Park St. in Carrollton. Publix and Belk anchor the center, and Target serves as a shadow anchor. Q10’s Bryson Thomason and Trey Warren III arranged the permanent loan on behalf of the undisclosed buyer, which was completing a 1031 exchange.
CHICAGO — Newmark Grubb Knight Frank’s Real Estate Finance Group has arranged $11.7 million in acquisition financing for Belden Centre, a 52,806-square-foot retail center in Chicago. Little GEMS International Preschool occupies 32,250 square feet of the center, which is fully leased. The borrower, a Chicago-based institutional investor, acquired the center in June for $18 million from a joint venture between Chicago-based investor James Purinton and Arlington Heights-based ACG Equities Inc. The five-year, nonrecourse loan includes one year of interest-only payments followed by a 30-year amortization schedule. Ben Greazel, senior managing director at Newmark Grubb Knight, arranged the financing between the borrower and the lender, a Chicago-based bank.
WASHINGTON TOWNSHIP, N.J. — Azarian Realty Co. has arranged five leases totaling 7,671 square feet at Washington Town Center. Dunkin’ Donuts, Original Pizza, Eye Level Learning Centers, BK Tae Kwon Do and Body Empathy Spa are the new tenants. The shopping center is located at 273 Pascack Road in Washington Township, about 19 miles south of Philadelphia.
KATY, TEXAS — CBRE's national retail investment group has brokered the sale of the 87,469-square-foot Highland Knolls Shopping Center in Katy. A 62,389-square-foot Randall's anchors the shopping center, which is nearly 95 percent occupied. Randall's has 11 years left on its initial lease term. Highland Knolls is located at 1525 S. Mason Road in the Cinco Ranch submarket. Chris Cozby, Chris Gerard and Kevin Holland of CBRE represented the seller in the transaction. The buyer was Denver-based Revesco Properties.
SAN DIEGO — Hawthorne Crossings, a 141,288-square-foot community shopping center in the San Diego submarket of Kearny Mesa, has sold to Retail Opportunity Investments Corp. for $41.5 million. The grocery-anchored center is located at 4200-4380 Kearny Mesa Road & 8055 Armour Street. Notable tenants at the center include Ross Dress for Less, Staples, Mitsuwa Marketplace, Dollar Tree, Sleep Train and Starbucks Coffee. Pete Bethea, Glenn Rudy and John Jennings of Cushman & Wakefield’s Capital Markets Group represented both the buyer and the seller, American Fund US Investments LP, in this transaction.
GREENVILLE, N.C. — Rouse Properties has acquired Greenville Mall in an off-market transaction for $50.3 million. Located in Greenville, the enclosed mall totals 460,800 square feet and is the only regional mall within a 40-mile radius. It first opened in 1966 and was renovated in 2001. Its anchors include Belk, jcpenney and Dunham’s Sports, the latter of which will open later this year. Additional tenants include Victoria’s Secret, Buckle, American Eagle, Aeropostale, Bath & Body Works, and Footlocker. Occupancy was 95.5 percent at the time of closing. As part of the transaction Rouse assumed an existing $41.7 million, non-recourse loan that matures in December 2015. The seller was a private partnership managed by Gregory, Greenfield & Associates