KNOXVILLE, TENN. — Ziff Properties has purchased the 31,400-square-foot Franklin Shopping Centre, located at 913-925 Highway 321 N. in Knoxville, from US Bank for $2.25 million. Aaron's Rental and Dollar Street anchor the center.
COLUMBUS, OHIO — Pace Financial Group has arranged $8.6 million in financing for Waterloo Crossing, a 91,254-square-foot retail center in Columbus. PNC Bank provided the loan to the borrower, the Casto Group.
NEW YORK CITY — Burlington Coat Factory opened its new 92,000-square-foot flagship store in New York City's Union Square. The store is located at 14th Street and University Place and is the retailer's sixth city location. Burlington, a national retail chain that offers clothing, home decor and gifts, plans to hire 500 employees.
MANSFIELD, PA. — Marcus & Millichap has arranged the $840,000 sale of a 4,900-square-foot net-leased Sheetz property in Mansfield. Michael Shover and Matthew Gorman of Marcus & Millichap represented the seller, a developer, in the transaction. They also secured the buyer, a private investor. The property is located at 85 W. Wellsboro St. and was built in 2011. Sheetz is a chain of gas stations and convenient stores owned by the Sheetz family.
RICHMOND — Quantum Real Estate Advisors has brokered the sale of a 6,800-square-foot O'Reilly Auto Parts store, located in Richmond, for $1.2 million. The seller, a Chattanooga, Tenn.-based preferred developer of O'Reilly's, sold the store to a Houston-based private investor. The store has a little less than 20 years remaining on its initial 20-year triple net lease. Jordan Kaufman of Quantum represented the buyer in the transaction.
LUBBOCK — NorthMarq Capital has secured first-mortgage, long-term financing for Phase I of Canyon West, a 268,090-square-foot retail development in Lubbock. Canyon West's tenants include Target, SAMs, Burlington Coat Factory and Ross Dress for Less. David Mott of NorthMarq's Dallas office arranged the financing.
TORRANCE, CALIF. — Torrance Promenade, a 269,000-square-foot retail power center, has received a $27.6-million refinancing. The property is located at 19800 to 20100 Hawthorne Blvd. in Torrance. It is currently 99 percent leased. Notable tenants include Trader Joe’s, Office Depot, Marshalls, Same Ash Megastore, Ross Dress for Less, Loehman’s, Tuesday Morning and Party City. HFF’s John Crump and Robert Delitsky arranged the 10-year, fixed-rate loan on behalf of KIR (Kimco Income REIT) Torrance, L.P. through the firm’s relationship with a life insurance company. Kimco Income REIT is an affiliate of Kimco Realty Corporation.
WALLISVILLE — Pizza Properties, Inc. has opened a 12,000-square-foot Peter Piper Pizza restaurant, the first of 25 Peter Piper Pizza restaurants planned for the Houston market in the next several years. The new restaurant is located at 6223 E. Sam Houston Parkway North on Beltway 8. Additional sites for new Peter Piper Pizza restaurants are currently under construction in Victoria, Corpus Christi and Waco.
EAST PEORIA, ILL. — Target is opening a 135,000-square-foot store in East Peoria in March 2013. The store, located at Clock Tower Drive and West Washington Street, will be part of the 86-acre East Peoria Downtown development. The store will feature a fresh produce section, a Starbucks and a Target Pharmacy. The company plans to hire 150 to 200 employees.
WINCHESTER, VA. — Calkain Cos. has negotiated the $2.25 million sale of a 1.36-acre pad site occupied by Chick-fil-A, located in Rutherford Crossing in Winchester. Rick Fernandez and Betty Friant of Calkain Cos. represented the seller in the transaction. Andrew Fallon, also of Calkain Cos., represented the buyer.