NORTH PORT, FLA. — Heron Creek Towne Center, a 64,664-square-foot, Publix-anchored neighborhood shopping center in North Port, has sold for approximately $8.7 million to Phillips Edison-ARC Shopping Center REIT Inc. A Tennessee-based private investment group sold the property located at 1289 S. Sumter Blvd. Heron Creek Towne Center was built in 2001 and includes tenants Subway, The UPS Store and Sparkle Brite Pool Stores. Mark Shellabarger and Cliff Taylor of CBRE represented the seller.
GARDEN CITY, N.Y. — Onyx Equities has purchased Atria West, a 235,000-square-foot, Class A office building in Garden City. CAF Realty was the seller. The deal, one of the largest office transactions of 2012 on Long Island, closed for a reported $29 million. Onyx will soon begin upgrading the public areas of the property, which is also known as 900 Stewart Avenue. Spector Group, which designed the building, is designing the renovations. Tenants at the building include JP Morgan Chase and AT&T. There is currently 77,452 square feet available for lease. The company has appointed the Rochlin Organization as leasing agent.
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.
PALM SPRINGS, CALIF. — A 51,572-square-foot portion of the Washington Square retail center in Bermuda Dunes, a submarket of Palm Springs, has sold to 42 Washington Square LP for $9.5 million. The sold portion of the 136,314-square-foot center is located at 42-100, 42-200 and 42-400 Washington Street. It was 97 percent occupied at the time of sale. A 30,000-square-foot HomeGoods store was part of the transaction. Dennis Vaccaro of Faris Lee Investments represented both the buyer and the seller, Washington Square S.C., LLC, in this transaction. Matt Mousavi, also of Faris Lee, assisted Vaccaro with the buyer.
CANTON, GA. — The 114,751-square-foot Hickory Flat Commons retail center has traded for $19 million at 6764-6776 Hickory Flat Highway in Canton, approximately 30 miles northwest of Atlanta. Connolly Realty Services sold the property to an affiliate of Cole Real Estate Investments. It was built in 2008 and anchored by Kroger. Other tenants include Anytime Fitness, Verizon Wireless, Little Caesars, Gymboree and Great Clips. Jim Hamilton and Richard Reid of HFF represented the seller, and Thomas Falatko represented Cole Real Estate Investments in house.
CHICAGO — Englewood Construction has secured a project for Macerich and Darden Restaurants Inc. to create a new Seasons 52 at The Shops at North Bridge, located on Chicago's Michigan Avenue. Englewood will perform landlord infrastructure work for Macerich, the center owner, at a 9,249-square-foot space and then begin a build-out for Seasons 52 at the same location. The work is projected to be complete February 2013. The restaurant will occupy the ground-floor space at the corner of Rush Street and Grand Avenue. Cuhaci & Peterson Architects will provide design services.
MOORE, OKLA. — UCR Investment Sales has arranged the $102.75 million sale of two shopping centers located in Oklahoma and New Jersey totaling 777,053 square feet. The Oklahoma shopping center, The Shops at Moore, is a 259,996-square-foot power center located in Moore. Anchor tenants include Ross Dress for Less, Best Buy, Bed Bath & Beyond, Office Depot and Hobby Lobby. David Disney of UCR represented the seller, an affiliate of Burk Collins & Co., in the Oklahoma transaction. Disney also represented the seller, an affiliate of Cypress Equities Real Estate Investment Management and Sarofim Realty Advisors, in the sale of the 517,057-square-foot Deptford Landing in Deptford, N.J.
GROVE, OKLA. — Virginia Beach, Va.-based Wheeler Real Estate Investment Trust has purchased a 31,705-square-foot, freestanding retail property in Grove for $4.55 million. The property is fully leased to Harps Food Stores. The initial term of Harps' lease is 20 years and expires in June 2032. This acquisition brings Wheeler's portfolio to nine properties in four states.