LAS VEGAS — Blue Diamond Crossing, a 530,000-square-foot community shopping center in southwest Las Vegas, has received $59 million in CMBS financing. The center is anchored by Kohl’s and Target. The new funds will replace construction take-out financing that was previously provided by a life insurance company. Financing was arranged by Chris Funai, Braden Turnbull and Peter Welsh of Newmark Realty Capital.
LOS ANGELES — Destination XL (DXL) has leased a 9,440-square-foot retail building in the Los Angeles submarket of Woodland Hills. The building is located at 6041 Topanga Canyon Blvd. The space was previously occupied by three separate tenants, including 3 Day Blinds. The men’s big and tall superstore is scheduled to open in September. This will be DXL’s second California location. The chain is owned by Casual Male Retail Group. DXL was represented by SPL Realty Partners. The landlord was represented by Dean Cutler of the Piken Company.
MESA, ARIZ. — Dollar Tree has leased a 10,000-square-foot space in the Falcon Gateway Shopping Center. The space is located at the southeast corner of McKellips and Greenfield roads in Mesa. The new store is scheduled to open in June. Other tenants at Falcon Gateway include Walmart, Staples, NextCare, Chase and Carl’s Junior. Dollar Tree was represented by Kurt Kalocin of SRS Real Estate Partners.
MINNEAPOLIS — HFF has arranged a $2.2 million first mortgage for the refinancing of Parkway Plaza, a 37,426-square-foot retail property, located at 4701 Hiawatha Ave. in Minneapolis. Pet Supplies Plus is the major tenant at the shopping center. Financing was based on a 10-year term with a 20-year amortization schedule. Hiawatha Plaza Associates was the borrower. A life insurance company provided the loan. Michael Padilla of NorthMarq’s Minneapolis regional office arranged the loan.
CHICAGO — Baum Realty Group LLC has sold a 4,750-square-foot retail building in Bucktown, a neighborhood in Chicago, for $2.9 million or a capitalization rate of 6 percent. The property is located at 1733-1735 N. Damen Ave. Greg Dietz, Danny Spitz, Ben Brichta and Adam Secher of Baum Realty represented the seller in the transaction. The buyer was a local investor.
VICTORIA, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA), a financial intermediary, has arranged a fixed-rate mortgage of $5.7 million for Whispering Creek Retail Center in Victoria. The 60,049-square-foot center is located on North Navarro Street and its tenants include Beef O'Brady's, Twin Liquors, Al's Formal Wear and Marble Slab Creamery. The center is currently 81 percent occupied. Scott Lynn of MCA arranged the five-year loan through Viewpoint Bank. The loan provides the borrower with an earnout feature as new tenants take occupancy.
LOS ANGELES — Destination XL (DXL) has leased a 9,440-square-foot retail building in the Los Angeles submarket of Woodland Hills. The building is located at 6041 Topanga Canyon Blvd. The space was previously occupied by three separate tenants, including 3 Day Blinds. The men’s big and tall superstore is scheduled to open in September. This will be DXL’s second California location. The chain is owned by Casual Male Retail Group. DXL was represented by SPL Realty Partners. The landlord was represented by Dean Cutler of the Piken Company.
MESA, ARIZ. — Dollar Tree has leased a 10,000-square-foot space in the Falcon Gateway Shopping Center. The space is located at the southeast corner of McKellips and Greenfield roads in Mesa. The new store is scheduled to open in June. Other tenants at Falcon Gateway include Walmart, Staples, NextCare, Chase and Carl’s Junior. Dollar Tree was represented by Kurt Kalocin of SRS Real Estate Partners.
LOS ANGELES – NorthMarq Capital has arranged a $42.1-million bridge loan for Point Dume Shopping Center, a 55,863-square-foot center in Malibu, and 301 Ocean, a proposed high-end condominium development in Santa Monica. Financing was based on a three-year, interest-only term. It was arranged for Marquis Property Company, Ltd. by Robert Hervey of NorthMarq’s Los Angeles regional office through the company’s relationship with a bridge lender.
SCOTTSDALE, ARIZ. — Kierland Village Center, a 116,809-square-foot neighborhood shopping center in Scottsdale, has sold to Kierland Village CMH, LLC for $25.3 million. Kierland Village CMH is an entity formed by RD Advisors and Mariash Corp. The center is located at 6501 E. Greenway Parkway Road. Notable tenants include Safeway, Walgreens, the UPS Store, Subway, Baskin Robbins, Fantastic Sam’s, Einstein’s and Panda Express. The seller, Kierland Village Center, LLC, was represented by Ryan Schubert and Michael Hackett of Cassidy Turley Arizona.