PHOENIX — TriGate Capital has acquired four shopping centers in the Greater Phoenix region for $28.3 million. They include Ahwatukee Mercado, Elliot Plaza, the Crossings at Fountain Hills, and Ventana Lakes Village Center. The centers contain a total of 306,959 square feet. The seller, C-III Asset Management, was represented by Lane Neville, Brad Ranly, Barbara Lloyd and Hunter Null with NAI Horizon, along with C-III Realty Services.
Retail
GREENVILLE, S.C. — Greenville-based Carolina Holdings, a full-service real estate firm, has completed construction or expansion of five Dollar General retail properties in Greenwood and Rock Hill, S.C., and Mount Holly, Conover and Burlington, N.C. The new construction and expansions provide expanded grocery offerings at the five Dollar Generals. Carolina Holdings is collaborating with Dollar General on several new store locations in North and South Carolina.
WEST PALM BEACH, FLA. — A 15,120-square-foot Walgreens has sold for $4.6 million in West Palm Beach. It was built in 2001 and is situated on a corner site adjacent to the Palm Beach International Airport. Jason Powell and Sean Patrick of Atlanta-based Ackerman & Co. represented the seller, a Washington, D.C.-based private investor. Mark Myers of Pompano Beach, Fla.-based Park Place Realty represented the buyer, Pompano Beach-based BMD Management.
BEAVERCREEK, OHIO — Colliers International has arranged the $1.9 million sale of a freestanding Buffalo Wild Wings in Beavercreek. The 6,000-square-foot building was constructed in 1999 as a build-to-suit for Buffalo Wild Wings, which has 12 years remaining on its lease. Jeff Johnston, Chris Prosser and Steve Timmel of Colliers represented the seller in the transaction. Marcus & Millichap represented the buyer, a private California-based investor.
COPPELL — NorthMarq Capital has secured $1.72 million in first mortgage refinancing for the 10,000-square-foot Denton Tap Plaza, an unanchored retail property located at State Highway 121 and Denton Tap in Coppell. Phillip Bankhead of NorthMarq's Dallas office arranged the 10-year loan with a 30-year amortization schedule through a CMBS lender.
SCOTTSDALE, ARIZ. — The Lincoln Village Shops in Scottsdale has sold to Global Retail Investors for $38.7 million. The 71,142-square-foot retail center is located at 6202 N. Scottsdale Road. Notable tenants at the center include Walgreens, Trader Joe’s, Fogo de Chao, Einstein’s Bagel, My Sister’s Closet, Well Suited and Rancho Pinot Grill. The seller was Scottsdale Road Partners, an affiliate of Redwood Real Estate Partners. The transaction was facilitated by Patrick Dempsey and Jan Fincham of Lee & Associates Arizona.
OXNARD, CALIF. – A 108,382-square-foot retail redevelopment site that was formerly occupied by Home Depot has sold to Oxnard Vineyards, LLC, for $7.1 million. It is located at 2600 E. Vineyard Ave. The 11-acre site contains a 104,000-square-foot building and a 2,000-square-foot building that holds a Jack in the Box. Home Depot vacated the building in 2002. Jack in the Box has operated from this location for the past 15 years. Oxnard Vineyards intends to invest an additional $5 million to refurbish the property. Vallarta grocery store plans to occupy 63,000 square feet, while Fallas discount stores will absorb 26,727 square feet. The balance will be divided into 1,000-square-foot pads. The seller, Wells Fargo, was represented by John Battle and Paul Capra of Lee & Associates-LA North/Ventura.
SCOTTSDALE, ARIZ. – Scottsdale Crossing, a 52,850-square-foot retail center in Scottsdale that contains three inline retail buildings, has received a $6.6-million refinance. The property is located at 2765 North Scottsdale Road. It is shadow anchored by Albertson’s. Notable tenants include Subway, Einstein’s, Jamba Juice and Chipotle Mexican Grill. Financing was arranged by John M. Stewart and Ilan Reissner of NorthMarq Capital’s Denver office.
POMPANO BEACH, FLA. — Palm Aire Marketplace, a 140,312-square-foot shopping center at 299 S. Powerline Rd. in Pompano Beach, has sold. The Winn Dixie-anchored retail property is 87 percent occupied and was originally constructed in 1977 and redeveloped in 1997. Tenants include RadioShack, Dollar Tree, Sally Beauty Supply, Rent-A-Center and the UPS Store. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office as well as Lori Schneider of the firm’s Fort Lauderdale office represented the seller. Schneider also procured the buyer, a New York-based private investor.
BURBANK, ILL. — A joint venture between Abbell Associates and Hutensky Capital Partners has acquired Burbank Station, a 303,566-square-foot shopping center in Burbank. The center is anchored by Food 4 Less, Babies R Us, HomeGoods, PetSmart, OfficeMax, The Sports Authority and Sam Ash Music. The center is located on Cicero Avenue, a densely populated south suburb of Chicago. The average household income within a three-mile radius is $61,500.