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
MIAMI — Regency Centers Corp. has commenced development of its first ground-up retail center in Dade County. Fontainbleau Square will be a 320,339-square-foot, grocery-anchored community center located at the intersection of NW 102nd Avenue and West Flagler Street. Its anchors will include a 139,751-square-foot Target and a 45,600-square-foot Publix Sabor. The center is already 86 percent pre-leased. Construction will begin this month, and the anchor tenants will open as early as October 2014. The project will feature green building practices that include an energy-efficient design, sustainable building materials, water conservation measures and construction waste recycling. Regency currently owns nine shopping centers in the South Florida market totaling 843,000 square feet.
ONEIDA, TENN. — Atlanta-based Blanchard Real Estate Capital has acquired a 151,980-square-foot Walmart Supercenter in Tennessee. The shopping center is located at 19710 Alberta St. in Oneida, situated approximately 60 miles northwest of Knoxville. The seller and the acquisition price were not disclosed.
COLUMBUS, OHIO — The 1.7 million-square-foot Easton Town Center in Columbus will add eight new tenants to its lineup by August. The expansion will bring retailers Janie and Jack, Art of Shaving, Swim 'n Sport, Paper Source, Zales Jewelers, See's Candies, Free People and Styleout Bar to the center. Within the past month, Easton Town Center has opened 16 new stores, including the state's first American Girl location. The Georgetown Co. and Steiner + Associates co-developed the center, which opened in June 1999. The open-air project also featured pedestrian-friendly streetscapes, gathering space, fountains and parks for children.