ARLINGTON, TEXAS — Marcus & Millichap has secured the sale of the 17,674-square-foot Cross Creek Shopping Center, located at 2001 S.E. Green Oaks Blvd. in Arlington. The center is 93 percent occupied with medical and retail tenants. Blake Burnett of Marcus & Millichap's Dallas office represented the seller, a limited liability company, in the transaction. An outside broker represented the buyer, a Texas-based investment partnership.
DENTON, TEXAS — Buckle, a fashion retailer, has signed a 5,040-square-foot lease at the 765,000-square-foot Golden Triangle Mall in Denton. The new store is slated to open in the fall. Paul Burridge of Webcor and Blake Shipp with The Weitzman Group represented Buckle in the deal. Other new tenants at Golden Triangle Mall include Italia Express, Tobu Oriental Eatery and Smoothie Paradise. Several tenants have renewed their leases at Golden Triangle Mall, including American Eagle Outfitters, The Limited, Hallmark, Regis Salons, Zales Jewelers and MasterCuts. Additionally, several stores are under construction, including The Limited, J.C. Penney and Hibbett Sporting Goods. Payless ShoeSource recently completed its renovations. The mall is currently undergoing a total renovation as part of a joint venture between The MGHerring Group and Cencor Realty Services. Renovations are slated to wrap up in the summer.
MESQUITE, TEXAS — Dallas-based Quadrant Realty Finance (QRF) has arranged financing for Thomasson Center, a 34,294-square-foot neighborhood retail center in Mesquite. The center is leased to a mix of retail, medical and office tenants. Jason Piering and Randy Fleisher of QRF arranged the 10-year, non-recourse loan through a CMBS lender. The borrower used the loan proceeds to acquire Thomasson Center.
SANTA FE SPRINGS, CALIF. – 99¢ Only has signed a lease for 14,226 square feet at Santa Fe Springs Promenade that is valued at more than $2.5 million. The space is located off Telegraph Road and Orr and Day roads in Santa Fe Springs. This will be the discount retailer’s ninth Southern California location to open so far this year. Matt Hammond and Ben Terry of Coreland Companies represented both 99¢ Only and the landlord, Milan Capital Management, in this lease transaction.
PHOENIX — Steak 44 has signed a 10-year lease for a 7,700-square-foot restaurant space inside the Camelback Village in Phoenix. The space was previously occupied by Cork ‘N Cleaver Restaurant. The upscale steakhouse is scheduled to open by fall 2013. Steak 44 is operated by the Mastro family, which created the Mastro’s and Ocean Club restaurant chains. It also operates Michael Dominick’s Steakhouse at Scottsdale Quarter. Steak 44 was represented by Josh Gosnell of Commercial Properties. The landlord, Camelback and 44th OPCO LLC, was represented by Randy Banchik and Joe Hoye of Westwood Financial Corp.
MIAMI GARDENS, FLA. — Marcus & Millichap has arranged the $8.2 million sale of Dolphin Plaza, a 93,991-square-foot shopping community at 17201-17237 N.W. 27th Ave. in Miami Gardens. The property, which is 90 percent occupied, is anchored by a recently renovated Winn-Dixie. Additional tenants include Foot Locker, BP Gas Station, Rent-A-Center and Rainbow Fashions. Jason Yukins of Marcus & Millichap represented the buyers, business partners from Canada, in the transaction.
RICHFIELD, MINN. — The Boulder Group has completed the sale of a TCF Bank ground lease, located at 6501 Richfield Parkway in Richfield, a southern suburb of Minneapolis, for $2.8 million. TCF Bank is the sole occupant of the 4,500-square-foot retail building that was developed in 2007. The TCF Bank lease had 15 years remaining at the time of sale and features multiple rental escalations. The property is located on a one-acre parcel within Cedar Point Commons. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private developer, in the transaction. The buyer was a West Coast-based family trust.
FLORENCE, KY. — Marcus & Millichap Real Estate has arranged the sale of Village at the Mall, a 92,764-square-foot shopping center in the Cincinnati metro area. The terms of the sale were not disclosed. The retail property is located at 7606 Mall Road in Florence, Ky. Developed in 1991, Village at the Mall was fully occupied at the time of sale. Joel Dumes and Charles Bulger represented the seller, a private investment group, in the transaction. The buyer is a private investor.
NEW YORK CITY — DelShah Capital LLC has completed the purchase of 58-60 Ninth Ave. in the Meatpacking District of New York City for $18.2 million. Located directly across from the Apple Store at West 14th Street, the 10,839-square-foot building includes 34 feet of frontage on Ninth Avenue. David Schechtman of Eastern Consolidated brokered the transaction to DelShah Capital. Icon Realty Management was the seller of 58-60 Ninth Ave. Jon Krieger of RKF is the leasing agent for the building.
FORT WORTH, TEXAS — Glimcher Realty Trust has closed a $55 million mortgage loan secured by University Park Village, an open-air lifestyle center in Fort Worth. The 15-year loan has a fixed interest rate of 3.85 percent. The new loan replaces the $60 million loan executed in connection with the purchase of University Park Village in January 2013.