SANDY SPRINGS AND MARIETTA, GA. — Atlanta-based Branch Properties LLC has purchased two retail properties in the Atlanta area. The firm acquired City Walk in Sandy Springs for $24.5 million in a special servicer-managed REO sale. City Walk is a 168,100-square-foot shopping center anchored by Kroger and located on Sandy Springs Drive. It is 71 percent leased. Fain Hicks of NAI Brannen Goddard and C-III Realty Services brokered the transaction. Branch Properties LLC also acquired 53,600 square feet of small shop space in three buildings at Merchant’s Festival in Marietta for $13.1 million. The Target-anchored shopping center is located at the intersection of Johnson Ferry and Roswell roads. Target sold the space to Branch Properties but the Target retail space in Merchant’s Festival was not included. Chris DeCoufle and Kevin Reavey of CBRE represented Target in the transaction.
MILWAUKEE — Dollar General has signed a lease for 9,952 square feet of retail space at Silver Bay Plaza, located at 1935 W. Silver Spring Drive in Milwaukee. Jon Thoresen of Commercial Property Associates represented the landlord, Silver Bay Plaza, in the transaction.
ABILENE — Wal-Mart Stores Inc. has selected Satterfield & Pontikes Construction to build a $9.2 million, 137,941-square-foot Sam's Club, located at 5550 S. Clark St. in Abilene. Dallas-based Raymond Harris and Associates is providing architectural design services for the development, and Fort Worth-based Dunaway Associates is providing civil engineering services. Project work for the new store includes asphalt paving, fire suppression, refrigeration, landscaping, irrigation, storm water system and erosion controls. Construction is slated to wrap up in May 2013.
DALLAS — NorthMarq Capital has secured a $4 million construction/permanent loan for a 21,000-square-foot Trader Joe's, located at 2001 Greenville Ave. in Dallas. Bart Dickinson of NorthMarq's Dallas office arranged the 21-year loan to amortize over 21 years through a life insurance company lender.
LAS VEGAS – A 17,123-square-foot retail property in Las Vegas that is leased to CVS has received $3.7 million in first-mortgage refinancing. The property is located at 4810 West Ann Road. Financing was based on a 10-year term and a 20-year amortization schedule. It was arranged by Ory Schwartz of NorthMarq’s Los Angeles office, in cooperation with the firm’s Las Vegas office.
ORMOND BEACH, FLA. — South Florida-based Stiles, a private full-service commercial real estate company, has purchased the 102,170-square-foot Ormond Beach Mall from an entity affiliated with Lakeland, Fla.-based Odyssey Diversified Properties Inc. Ormond Beach Mall is anchored by Publix and includes tenants Bealls Outlet, Family Dollar and Wells Fargo. Danny Finkle, Luis Castillo and Kim Flores of HFF represented the seller. Ormond Beach Mall is located at 1200-1294 Ocean Shore Blvd. in Ormond Beach.
NAPERVILLE, ILL. AND INDIANAPOLIS — Inland Real Estate Corp. has sold two Midwest retail properties for a combined $7.5 million. Inland sold the 67,632-square-foot Butera Market shopping center in Naperville for $5.7 million. The buyer was an independent owner-operator of the property's anchoring supermarket. On the same day, Walmart Stores acquired the company's 67,541-square-foot retail property in Indianapolis, which was formerly leased to Cub Foods.
MADISON, WIS. — Northern Tool + Equipment has signed a new 15,000-square-foot retail lease at 2118 W. Beltline Highway in Madison, where it will join Steinhafels Furniture. Clay Mote of Venture Commercial, and an X Team International Partner, represented the tenant in the transaction. The landlord was self-represented.
LAS VEGAS – A 17,123-square-foot retail property in Las Vegas that is leased to CVS has received $3.7 million in first-mortgage refinancing. The property is located at 4810 West Ann Road. Financing was based on a 10-year term and a 20-year amortization schedule. It was arranged by Ory Schwartz of NorthMarq’s Los Angeles office, in cooperation with the firm’s Las Vegas office.
SANTA MONICA, CALIF. – A 7,500-square-foot retail property in Santa Monica that is leased to Converse has received a $7-million, full cash-out loan. The property is located on Santa Monica’s Third Street Promenade. The 15-year loan features a 30-year amortization schedule and a 4.98 percent fixed interest rate. The loan was arranged by George Smith Partners. Barbara Tenzer of Tenzer Commercial represented the lessor in this transaction.