GREENWOOD, MO. — The renovation of the 80,255-square-foot Greenwood Shoppes at 806-914 U.S. 31 is nearing completion. Bianco Properties, which purchased the property last year, added a new roof, facade and LED lighting throughout the property. The center is located across from Greenwood Park Mall and tenants include Men's Wearhouse, Half Price Books, Casual Male and Party City. The Peterson Co. oversaw construction of the project. All businesses remained open during the renovation.
GOUVERNEUR, N.Y. — Consolidated Properties has acquired Gouverneur Center, a 71,644-square-foot neighborhood retail center at 471 East Main St. The property is anchored by Tractor Supply Co., Peebles and Family Dollar. The new owner plans to renovate the building exterior and grounds and re-tenant the property. Larry Socia of The Sutton Cos. represented the buyer in the transaction. Dominic Pavia of Pavia Real Estate services represented the seller, Gouverneur Center Development LLC.
KATY — World Market will open a new 15,400-square-foot store in the Grand Lakes Marketplace, located at 6625 S. Fry Road in Katy. Cost Plus World Market, the operator of World Market, has 263 stores in 30 states under the World Market and Cost Plus World Market trademarks.
ORTING, WASH. – The Pioneer Village Shopping Center in Orting, a tertiary market about 40 miles south of Seattle, has received a $9-million loan. The 82,130-square-foot, Safeway-anchored center is 92 percent leased. The 20-year loan features a 20-year amortization period and an interest rate in the 4-percent range. It was provided by Mike Wood and Andrew Patterson of NBS Financial Services.
SANTA CLARITA, CALIF. — The Center at Shangri-La, a 53,692-square-foot retail shopping center in Santa Clarita, has sold to an unnamed buyer for $10 million. It is located at 18635 Soledad Canyon Road. The center is 97 percent leased to 15 tenants on triple-net leases with fixed increases. Notable tenants include the Santa Clarita Public Library, Telesis Communication, Everest Charbroiled Burgers, IHOP, the Medicine Shoppe, Jersey Mike’s Subs, Domino’s Pizza and the Elite Fitness Compound. The library, which co-anchors the center, was not part of the sale. The seller, Shangri-La LLC, was represented by Gregory Mills of Marcus & Millichap’s Encino office.
HERNDON, VA. — Navy Federal Credit Union, the world’s largest credit union, has signed an 80,582-square-foot lease at 12851 Worldgate Dr. in Herndon. The entity’s membership includes all U.S. Department of Defense (DOD) military personnel, civilians and contractors, other U.S. personnel assigned or stationed at DOD installations and family members. Gene Martin and Damon Rothman of The Ezra Company represented Navy Federal Credit Union. Oak Brook, Ill.-based Inland American Real Estate Trust owns 12851 Worldgate Dr., which is part of the fourbuilding, 322,325-square-foot Worldgate Plaza complex.
TORRINGTON, CONN. — Fantini & Gorga has arranged a $4.3 million loan for a freestanding Walgreens in Torrington, which was acquired by a private real estate investment group from California. Casimir Groblewski of Fantini & Gorga negotiated the loan through a Connecticut-based savings institution. The 15,120-square-foot Walgreens opened in 2001. It is located on the corner of State Routes 4 and 202.
BERKLEY HEIGHTS AND FORKED RIVER, N.J. — Marcus & Millichap has arranged the $1.4 million sale of a fully occupied 5,734-square-foot retail property in Berkley Heights. Michael Lombardi of Marcus & Millichap represented the seller, a local private investor. Nat Gambuzza and Lauren Federgreen of Marcus & Millichap represented the buyer, a local investor. The company also arranged the $887,500 sale of a Wendy's ground lease in Forked River. The 2,9100-square-foot property is located at 301 Route 9. Preet Sabharwal of Marcus & Millichap represented the seller, a Connecticut-based developer. They also represented the buyer, a local private investor.
SANTA CLARITA, CALIF. — The Center at Shangri-La, a 53,692-square-foot retail shopping center in Santa Clarita, has sold to an unnamed buyer for $10 million. It is located at 18635 Soledad Canyon Road. The center is 97 percent leased to 15 tenants on triple-net leases with fixed increases. Notable tenants include the Santa Clarita Public Library, Telesis Communication, Everest Charbroiled Burgers, IHOP, the Medicine Shoppe, Jersey Mike’s Subs, Domino’s Pizza and the Elite Fitness Compound. The library, which co-anchors the center, was not part of the sale. The seller, Shangri-La LLC, was represented by Gregory Mills of Marcus & Millichap’s Encino office.
JACKSONVILLE, FLA. — The 205,696-square-foot Regency Plaza shopping center, which is located on Atlantic Boulevard directly across from Regency Square Mall in Jacksonville, has sold. Tenants include Burlington Coat Factory, OfficeMax, dd’s Discounts, Chuck E. Cheese’s, Baby Depot and Carrabba’s Italian Grill. Kimco Realty represented the unlisted seller, while DLC Management Corp. represented the unlisted buyer.
