PHILADELPHIA — Marcus & Millichap has arranged the $9.6 million sale of County Line Plaza, a 75,640-square-foot shopping center in Philadelphia. The property is anchored by Food Basics and Big Lots and is fully occupied. Brad Nathanson of Marcus & Millichap represented the seller, a local shopping center operator, in the transaction. Steve Siegel of Marcus & Millichap represented the buyer.
EAST HAVEN, CONN. — Hobby Lobby has signed a lease for 44,000 square feet in a shopping center on Frontage Road in East Haven. The center is anchored by T.J. Maxx, AMF Circle Lanes and Holiday Inn Express. Carol Hutchinson of Charter Realty & Development represented the tenant in the transaction.
KINGWOOD — NorthMarq Capital has secured first mortgage refinancing for the 48,835-square-foot Kings Crossing Town Center, located at the intersection of Lake Houston Parkway and Kingwood Drive in Kingwood. Tenants of the retail center include Cornerstone Mortgage, Chachi's Mexican and First American. Warren Hitchcock of NorthMarq's Houston office arranged the 10-year loan with a 30-year amortization schedule through one of its long-time CMBS lending relationships on behalf of the borrower, KCTC.
ORLANDO, FLA — H&R REIT has purchased the 83,167-square-foot Regency Village, located at the intersection of Vineland Avenue and International Drive South in Orlando, for $16 million. Publix anchors the center, which is 97 percent leased. Michael Cleeman of Cohen & Co. represented the buyer in the off-market transaction. Helen Putterman, also of Cohen & Co., represented the seller, Cohen Commercial Properties.
NEW PORT RICHEY, FLA. — Blue Rock Partners has sold the 143-unit Park at Ashley Place, a multifamily property located on Vista Verde Drive in New Port Richey, for $8.05 million. The property is 95 percent occupied. Cole Whitaker and Jason Stanton of Hendricks & Partners represented the seller in the transaction.
HENDERSONVILLE, TENN. — P&M Investment Co. has broken ground on the $3.5 million, 20,000-square-foot Shoppes at Maple Corner, a retail center located at the intersection of Indian Lake Boulevard and Maple Drive in Hendersonville. Southeast Venture LLC, the leasing agent, has secured a 4,300-square-foot lease with Sola Salon Studios. Completion is slated for the end of 2012.
AMERICUS, GA. — The 97,760-square-foot Americus Village Retail Shopping Center, located in Americus, has sold for $2.5 million. Tenants include Fred's, Carmike Cinema, H&R Block, Edward Jones, Citi Financial and UPS Store. Ray Mokhberi of NAI Brannon Goddard represented the seller, PeopleSouth Bank, in the transaction. Charles Piazza and Eric Piazza of NAI New York City represented the buyer, A.J.J.M.D. Realty Corp.
CARY, ILL. — Quantum Real Estate Advisors has arranged the sale of a vacant, 6,520-square-foot former Blockbuster Video property at 536 Northwest Highway in Cary. The property was sold to a local Meineke franchisee for $825,000. Jordan Kaufman of Quantum Real Estate Advisors and Peter Caruso of Mid-America represented the seller, a group of private individuals from California, in the transaction. Ryan Samuelson of Corcoran Commercial Real Estate represented the buyer.
NEW YORK CITY — Prestige Properties & Development has secured a $210 million loan to refinance Bay Plaza Community Center, a 517,000-square-foot retail center in the Bronx. Bay Plaza Community Center is a section of the 1.3 million-square-foot BayPlaza shopping complex, the largest retail center in New York City. MetLife's Real Estate Investments Division provided the five-year, fixed-rate loan, which bears an interest rate of sub-4 percent.
SAN DIEGO — Regency Centers Corporation has purchased Balboa Mesa Shopping Center, a 189,321-square-foot, infill shopping center in San Diego, for $59.5 million. The Vons-anchored center is located at Balboa Avenue and Genesee Avenue. It is 95 percent leased. Other notable anchors include Kohl’s and CVS/pharmacy. The seller was Balboa Realty LLC.
