GOLDEN, COLO. — The Village at Golden Shopping Center has received a $4.4-million refinance. The center is located at 17700-17748 S. Golden Road in Golden. Notable tenants include Dollar Tree, Goodwill and TJ Maxx. Financing was arranged for the Denver-based borrowers by John M. Stewart and Ilan Reissner of NorthMarq’s Denver office.
Retail
TEMPE, ARIZ. — Portillo’s has purchased a 2.38-acre parcel at the 1.3 million-square-footTempe Marketplace where it plans to open an outpost. The famous Chicago hot dog eatery will open a 7,000-square-foot location on the marketplace’s southwest corner in the summer of 2013.
ORLANDO, FLA. — A former Hertz rental car facility, which includes 19.44 acres of land for development at 5601 Butler National Dr. off Semoran Boulevard north of Orlando International Airport, has sold for $14.25 million. Los Angeles-based L&R Investment Co. acquired the property and intends to obtain a master plan for the development of retail parcels that front Semoran Boulevard and an off-airport parking facility. Kevin O’Connor and Matt Cichocki of NAI Realvest represented the seller, The Hertz Corp., which moved its operations onto airport grounds at Orlando International Airport.
CHESAPEAKE, RICHMOND AND CHESTERFIELD, VA. — Three absolute net-leased Jiffy Lube retail properties have sold in southern Virginia. The assets commanded sales prices of $1.3 million in Chesapeake, $930,000 in Richmond and $920,000 in Chesterfield. Michael Early and Matthew Greenspon of Marcus & Millichap’s Virginia and Raleigh, N.C., offices represented the sellers. The buyers were unlisted private investors and an unlisted large regional real estate operator. Each Jiffy Lube unit was available for purchase as an investment, operated on absolute net-leased structures by subsidiaries of the parent company, Lucor Inc., which owns and operates more than 165 Jiffy Lube retail properties.
CHARLOTTE, N.C. — Marsh Aviation has purchased an approximately 25,000-square-foot freestanding retail property from Regions Bank for $1 million. Home South, a new home furnishings retail concept, is planned to operate at the site at 7220 Smith Corners Blvd. in Charlotte. Todd Harrelson of Cushman & Wakefield/Thalhimer represented the seller in the transaction.
HOUSTON — Multi-Employer Property Trust (MEPT) has purchased the 134,000-square-foot Parkway Village, a grocery-anchored shopping center in Houston's Energy Corridor. Kroger anchors the center, which is currently 96 percent leased to 29 national, regional and local retailers. MEPT is a commingled real estate equity fund advised by Bentall Kennedy. The Parkway Village acquisition was brokered by HFF.
TEMPE, ARIZ. — Portillo’s has purchased a 2.38-acre parcel at the 1.3 million-square-foot Tempe Marketplace where it plans to open an outpost. The famous Chicago hot dog eatery will open a 7,000-square-foot location on the marketplace’s southwest corner in the summer of 2013.
EMERYVILLE, CALIF. — Public Market, a 272,000-square-foot, mixed-use development in the East Bay submarket of Emeryville, has received $42.5 million in financing. The acquisition financing was provided to a joint-venture between Angelo, Gordon & Co. and City Center Realty Partners, LLC. The non-recourse loan features a floating interest rate and a six-year term. It also allows for a one-year extension and a future funding component t cover property renovations, leasing commissions and tenant improvements. Public Market contains 153,000 square feet of retail space, including a 10-screen Regal theater. Other notable tenants include Urban Outfitters, Guitar Center, Peet’s Coffee & Tea, Regal Cinemas and In-Shape Health Club. It also contains a 119,000-square-foot, Class A office tower that is occupied by Random House, Silicon Valley College and Rocket Software, among others. The Bank of America loan was secured by HFF’s Peter Smyslowski and Kevin Redford.
SAN MARCOS, CALIF. — The Golden Door Spa, a 41-room luxury spa resort in San Marcos, has sold to an unnamed buyer for $24.8 million. The acquisition also includes ownership of The Golden Door brand, as well as any future resort expansion opportunities. The seller was represented by Dan Peek, Bill Stadler, Scott Hall and Alexandra Lalos.
BURBANK, CALIF. – A joint venture partnership that includes KBS Strategic Opportunity REIT has purchased The Burbank Collection, a 39,428-square-foot retail property in Burbank. The purchase price was not disclosed. The Burbank Collection was built in 2008 and features 12 retail units. Notable tenants include Pinkberry, Barney’s Beanery, Verizon and Panera Bread.