Retail

IKEA TO OPEN KANSAS CITY-AREA STORE BY 2014

by admin September 28, 2012

MERRIAM, KAN. — IKEA, the Swedish home furnishings retailer, plans to open a new 349,000-square-foot store in Merriam, eight miles southwest of Kansas City, in the fall of 2014. The store will be built on 18 acres — to be purchased from DDR Corp. — along the eastern side of I-35 at the Johnson Drive exit. The site will also include a two-level parking structure. IKEA Merriam will feature 10,000 exclusively designed items, 50 inspirational room settings, three model home interiors, a children's play area and a 450-seat restaurant.

September 28, 2012

TWO-STORE ASSET CHANGES HANDS FOR $4.2M

by admin September 28, 2012

CHAMPAIGN, ILL. — A fully occupied, 10,000-square-foot retail site, located at 1902 N. Prospect Ave. in Champaign has sold for $4.2 million. The property is occupied by AT&T and Aspen Dental, both of which recently signed 10-year leases for the space. AT&T occupies 6,543 square feet while Aspen Dental occupies 3,205 square feet. The building is located at the intersection of I-74 and North Prospect Avenue, next to Market Place Mall. Elli Klapper and Charles Berger of CBRE Group represented the buyer in the transaction.

September 28, 2012

Northeast Retail

NORTHMARQ ARRANGES $21.4M MORTGAGE FOR NEW YORK RETAIL PROPERTY

by admin September 28, 2012

PATCHOGUE, N.Y. — NorthMarq Capital has arranged a $21.4 million loan for a 124,000-square-foot retail property at 95 Sunrise Highway in Patchogue. The loan was a take-out of the existing construction loan for the completely renovated property. The site was formerly a Home Depot and the borrower has converted the property to its current two-tenant use. Major tenants at the site include Raymour Flanigan and Shop Rite. Zachary Rechler and Ernest DesRochers of NorthMarq Capital arranged the 10-year loan through a life insurance company. The loan contains a 20-year amortization schedule.

September 28, 2012

Retail Texas

N3 ACQUIRES RETAIL PORTFOLIO FOR $25M

by admin September 28, 2012

TEXAS — Southlake-based N3 Real Estate has acquired an eight-property retail portfolio for $25 million from Dallas-based St. Ives Realty. The properties total 172,329 square feet and are all Walmart Supercenter shadow centers in Alamo, Dumas, Herford, Weatherford, Red Oak and Sweetwater. Tenants of these shopping centers include Verizon Wireless, GameStop, Dollar Tree, Rent-a-Center and Beall's. N3 financed the acquisition through its $250 million Retail Development Investment Fund.

September 28, 2012

Retail Texas

DEERWOOD CLOSES $15.35M LOAN FOR RETAIL PROPERTY

by admin September 28, 2012

WACO — Deerwood Real Estate Capital has arranged a $15.35 million loan to refinance a 215,000-square-foot retail center that is shadow-anchored by a 150,000-square-foot Target in Waco. The property is currently 83 percent leased. Joe Hercenberg and David Rosenberg of Deerwood arranged the 10-year loan.

September 28, 2012

Retail Western

RANCHO CUCAMONGA INDUSTRIAL BUILDING SELLS FOR $10.2M

by admin September 28, 2012

RANCHO CUCAMONGA, CALIF. — A 177,550-square-foot industrial building in Rancho Cucamonga has sold to a joint venture between CT Realty Investors and Artemis Real Estate Partners for $10.25 million. The property is located at 10404 Sixth Street. It is fully leased to GITI Tire USA. The joint venture was represented by Ryan Lal and Jeff Smith of Lee & Associates’ Ontario office. The seller was represented by Ken Jones and Scott Ostlund from the same office.

September 28, 2012

Retail Western

BASS PRO SHOPS TO ANCHOR NEW CENTERRA CENTER

by admin September 28, 2012

LOVELAND, COLO. — Bass Pro Shops has signed on to anchor a major new development at Centerra, an expansive retail complex. The outdoor store will absorb about 117,000 square feet. Centerra also includes The Promenade Shops, a 700,000-square-foot lifestyle mall, The Marketplace at Centerra, a large retail power center and the Motorplex, an auto complex with eight major dealers.

September 28, 2012

Retail Western

THE WHOLE FOODS CENTER IN FORT COLLINS SELLS FOR $17.9M

by admin September 28, 2012

FORT COLLINS, COLO. — The Whole Foods Center, a 68,334-square-foot, two-tenant retail center in Fort Collins, has sold to a private real estate fund advised by Crow Holdings Capital Partners. The fund also assumed an existing CMBS loan. The property is located at 2201 South College Ave. It is fully leased to Whole Foods and Wilbur’s Total Beverage. The seller, a private investor, was represented by HFF’s Bryan Ley, Barry Brown and John Crump.

September 28, 2012

Retail Southeast

CAPITAL ADVISORS SECURES $12.04M LOAN

by admin September 27, 2012

BOYNTON BEACH, FLA. — Capital Advisors has arranged $12.04 million in acquisition financing for the 151,459-square-foot Shoppes at Boynton, a community shopping center located at the corner of Congress Avenue and Gateway Boulevard in Boynton Beach. Ross Dress for Less, Tuesday Morning and Deal$ anchor the center. Cooper Willis of Capital Advisors arranged the seven-year loan with a 30-year amortization schedule through Life Insurance Co. of the Southwest on behalf of the borrower, Boynton FCA.

September 27, 2012

Midwest Retail

GUITAR CENTER TO OPEN AT FRANDOR SHOPPING CENTER

by admin September 27, 2012

LANSING, MICH. — Guitar Center has signed a lease for 17,700 square feet at The Frandor Shopping Center in Lansing. The instrument retailer will open its doors in the spring of 2013. Guitar Center will join anchor tenants such as Sears, World Market and Kroger. Lormax Stern Development managed the deal.

September 27, 2012

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