BURNSVILLE, MINN. — St. Louis-based Bianco Properties has acquired the property leased to Kohl’s department store in Burnsville, a suburb of Minneapolis. The acquisition of the 102,412-square-foot retail building marks Bianco’s entry into the market. The property was purchased in an all-cash transaction from an affiliate of Cole Real Estate Investments, with CB Richard Ellis representing the seller.
EWING, N.J. — Urge Fitness has signed a lease for a new 13,000-square-foot exercise facility to be developed in the Ewing Square Shopping Center, located at 968 Parkway Ave. in Ewing. Construction is slated to begin this fall and the club is expected to open before the holidays. The Goldstein Group is the property landlord.
SAN ANTONIO AND OKLAHOMA CITY — Inland American Real Estate Trust has acquired two shopping centers in San Antonio and Oklahoma City for approximately $94.7 million. The properties include the 218,436-square-foot Stone Ridge Market in San Antonio and the 254,690-square-foot Rockwell Plaza in Oklahoma City. Stone Ridge's tenants include PetSmart, Sports Authority and Half Price Books. Rockwell Plaza has more than 40 tenants, including Ross Dress for Less, Jo-Ann Fabrics and Crafts, PetSmart, K&G Men's Warehouse, RadioShack, Rue21, GameStop, Dots and Dollar Tree.
DALLAS — Dallas-based UCR Investment Sales has arranged the sale of seven retail properties in Texas totaling 87,652 square feet. The properties include: The Shops at Carter Ranch located in Celina Roanoke Center located in Roanoke 7-Eleven located in Richardson North Main Street Center located in Fort Worth Lake June Commons located in Balch Springs O'Reilly Auto Parts and Cashmax located in Childress Hibbett Sports and Cashmax located in Athens Tommy Tucker of UCR Investment Sales represented the six different sellers in seven separate transactions.
HOUSTON — Marcus & Millichap Capital Corp. (MMCC) has secured a $12.5 million refinance for Westchase Shopping Center, located in Houston. Peter Dunn of MMCC's Houston office arranged the 10-year loan to amortize over 30 years through a CMBS lender. The LTV on the loan is 75 percent.
SAN DIEGO — The Uptown District Shopping Center, a 148,638-square-foot, mixed-use retail center in San Diego, has sold to Regency Centers Corporation for $81.1 million. It is located at 940 University Ave. in the city’s Hillcrest neighborhood. Notable tenants at the center include Ralphs, Trader Joe’s, Wells Fargo, Panera Bread and Starbucks. The sale was executed by the Mansour Group of Marcus & Millichap.
MIAMI — Marcus & Millichap has facilitated the $5 million sale of the 24,700-square-foot Colony Shops, a retail strip center at 5058 Biscayne Blvd. in Miami’s Midtown district. The property is 100 percent occupied with a mix of local tenants including a Bikram Yoga studio, doctor’s office and law firm. Ryan Shaw of Marcus & Millichap represented the unlisted seller, and Scott Sandelin of Marcus & Millichap represented the buyer, a Miami Beach, Fla.-based limited liability company.
OAK BROOK, ILL — Inland American Real Estate Trust Inc. has acquired two necessity-based shopping centers in Oklahoma and Texas for approximately $94.7 million. The properties include Rockwell Plaza, a 254,690-square-foot shopping center in Oklahoma City and Stone Ridge Market, a 218,436-square-foot retail property in San Antonio.
NEW YORK CITY — TIAA-CREF has purchased 1511 Third Avenue on the Upper East Side for $60 million. The 60,000-square-foot retail building is one block south of East 86th Street, the main retail artery in the neighborhood. The property is fully leased to long-term tenants Gap and Equinox. Bob Knakal and Thomas Gammino of Massey Knakal represented both parties in the transaction.
OLD BRIDGE, N.J. — Construction is under way on Woodhaven Plaza, a new neighborhood shopping center on Texas Road in Old Bridge, about one mile from Monroe Township. The 118,000-square-foot center will serve as the retail component of Woodhaven Village, a planned residential community that currently contains a mix of 350 single-family homes, townhouses and apartments. Atlantic Realty is developing both the retail and residential areas, and R.J. Brunelli & Co. is serving as the leasing agent for the center.
