TOLEDO, OHIO — Luttner Real Estate Investment Services has brokered the sale of a new building occupied by Family Dollar for $1.4 million. Family Dollar has signed a 10-year lease for the space located at 1121 W. Bancroft St. in Toledo. Mark Luttner marketed the 8,000-square-foot property on behalf of the seller, a private developer.
MONTEBELLO, CALIF. – A 25,000-square-foot Ross Dress for Less has opened at Montebello Plaza. The plaza is located at 2401-2629 W. Via Campo Road in Montebello. Ross was represented by Epsteen & Associates. Montebello Plaza’s landlord, Brixmor Property Group, was represented in-house by Gavin Gray.
TROUTDALE, ORE. — Troutdale Commons,a 39,388-square-foot, grocery-anchored shopping centerin Troutdale, has received $5.6 million in first-mortgage refinancing. Major tenants at the center include Albertson’s, Starbucks and Walgreens. Financing was arranged by Bob Spiro of NorthMarq’s Seattle regional officethrough its relationship with a correspondent life company lender. Financing was based on a 15-year term and a 20-year amortization schedule.
KANSAS CITY, KAN. — Kohlberg Kravis Roberts & Co. LP (KKR) and RED Legacy have acquired the Legends Outlets Kansas City located in Kansas City for $131.5 million, according to Bloomberg. Legends Outlets Kansas City is home to nearly 100 designer and brand name stores, restaurants and entertainment venues including Saks Fifth Avenue OFF 5TH, Ann Taylor Factory Store, Brooks Brothers Factory Store, Cole Haan, Levi's Outlet, Nike Factory Store, Polo Ralph Lauren Factory Store and Under Armour. Located in Village West, the property opened to shoppers in 2006. KKR and RED Legacy plan to focus on attracting additional retailers.
TOLEDO, OHIO — Eidi Properties has acquired two shopping centers in the Toledo area for $4.4 million. The Shoppes at Glendale is anchored by Walmart and located at 3022-2936 Glendale Ave. next to the Medical College of Ohio. The Executive MarketPlace is located at 3550 Executive Parkway and is anchored by Costco, Elder Beerman, Home Depot and Sears. The two shopping centers total 49,000 square feet.
JERSEY SHORE, PA. — National Net Lease Realty has arranged the sale of a $3.8 million triple-net leased CVS/pharmacy property at the corner of Allegheny and Bridge streets in Jersey Shore, located about 100 miles north of Harrisburg. The 10,125-square-foot CVS store was built in 2005. CVS has 14 years remaining on its lease. Terry Marks of National Net Lease Realty represented the seller, a California-based LLC, and the buyer, a New York-based LLC, in the transaction.
EDGEWATER, N.J. — Furnishings retailer HomeGoods has plans to open its newest New Jersey location in Edgewater Harbor, a mixed-use development located about 11 miles north of New York City. The 24,000-square-foot store will anchor the 100,000-square-foot retail component of the development. Jake Frantzman of Levin Management negotiated the long-term lease. Jerry Welkis of Welco Realty represented HomeGoods in the transaction.
SAN ANTONIO — Marcus & Millichap's San Antonio office has brokered the sale of a portfolio of 13 Lowe's Markets throughout Texas. Chad Knibbe and Stephen Berchelmann of Marcus & Millichap represented the seller in the transaction. The properties were net-leased to Lowe's Markets, which operate under a variety of names including Super S Foods, Super Save, Lowe's Market, Big 8 Food Stores, Shop n' Save, Lowe's Pay-N-Save, Avanza Supermarket, Family Center, Fiesta Foods, Mercado, La Feria, Food Jet and Fiero.
KATY, TEXAS — Houston-based Hunington Properties has arranged the sale of Fry Road Plaza, a 19,950-square-foot retail center located at the intersection of Fry Road and Misty Cove Drive in Katy. The property is 90 percent leased. Todd Carlson of Hunington Properties represented the seller, a local developer that built the shopping center in 2006. The buyer purchased the property in a 1031 exchange. Hunington Properties will serve as the new property management and leasing agent.
TROUTDALE, ORE. — Troutdale Commons,a 39,388-square-foot, grocery-anchored shopping centerin Troutdale, has received $5.6 million in first-mortgage refinancing. Major tenants at the center include Albertson’s, Starbucks and Walgreens. Financing was arranged by Bob Spiro of NorthMarq’s Seattle regional officethrough its relationship with a correspondent life company lender. Financing was based on a 15-year term and a 20-year amortization schedule.