PLANO — Bo Avery, an investor based in Texas, has purchased the 123,011-square-foot Ruisseau Village, a shopping center located at 3303 N. Central Expressway in Plano. Dan Avnery of Retail Realty represented the buyer in the transaction. Kelly West of C-III Realty represented the seller, Wells Fargo Bank, which acted as trustee for the registered holders of JPMorganChase Commercial Mortgage Securities Corp. C-III Asset Management serviced the transaction.
LAKELAND, FLA. — Ramco-Gershenson Properties Trust has acquired a 93 percent interest in the 183,842-square-foot Shoppes of Lakeland, a shopping center located in Lakeland, from its joint venture partner for $26 million. Michaels, Staples, Ashley Furniture, Petco and an anchor-owned Target anchor the center, which is 96.4 percent leased.
HUNTERSVILLE, N.C., AND NORTH CHARLESTON, S.C. — Hawthorne Retail has purchased two shopping centers for a total of $16.3 million. In Huntersville, the company purchased the 56,120-square-foot Northcross Commons for $3.91 million. The fully leased property is anchored by Food Lion. The company also acquired the 266,588-square-foot North Rivers Market in North Charleston for $12.39 million. The property is 87 percent leased, and the buyer plans to begin a major renovation in 2013. Rob Carter, Alex Quarrier, David Webb and Rebecca Levell of Berkeley Capital Advisors represented the seller, a public REIT, in the North Rivers Marketplace transaction.
TAMPA, FLA. — CBRE Group has arranged a $46.47 million acquisition loan for a six-property portfolio of shopping centers, located in Florida. The properties total more than 400,000 square feet, and include Corridors at Ponte Vedra in Ponte Vedra Beach, First Merritt Center in Merritt Island, Mandarin Oaks in Jacksonville, Publix at Holly Hill in Daytona, Publix at Summer Bay in Clermont and Regency Village in Orlando. Michael Strober, Amanda Valenti and Donald Jennewin of CBRE Group secured the seven-year loan with a 25-year amortization schedule through a life insurance company on behalf of the borrower, H&R REIT.
ST. LOUIS, MO. — hhgregg (NYSE:HGG), the Indianapolis-based appliance and electronics retailer, will open four new stores in Missouri on Thursday, Sept. 13. The stores will be located at 101 Gravois Bluff Dr. in Fenton, Mo.; 301 Costco Way in St. Peters, Mo.; 5925 N. Illinois in Fairview Heights, Ill.; and along Chesterfield-Airport Road in Chesterfield, Mo. The stores will showcase more than 100 HDTVs and 350 major appliances will be in stock. The locations will also feature new product categories consisting of fitness equipment and furniture. More than 240 employees have been hired to staff the new St. Louis area stores.
NEW YORK CITY — Zar Properties has purchased a 35,000-square-foot retail condominium building in Soho for $39 million. The property is located at 105-113 Wooster St. and the current tenant, Room & Board, has seven years remaining on its lease. The transaction also includes three residential loft apartments.
DALLAS — Studio Movie Grill plans to open its fifth Dallas/Fort Worth location at the 142,961-square-foot Keystone Park Shopping Center, located at the southwest corner of U.S. Highway 75 and Spring Valley Road in Dallas. Other tenants include El Chico, Micro Center, Bone Daddy's and Razzoo's. Rancho Keystone Park LP, owner of Keystone Park, plans to add several pad sites to the property as well. Dallas-based UCR handles leasing for Keystone Park.
PLANO — Dallas-based Metropolitan Capital Advisors (MCA) has closed a $10 million loan for the acquisition of Pitman Corners Shopping Center, a 192,267-square-foot, grocery-anchored retail center located at the southwest corner of West 15th Street and Custer Road in Plano. Albertsons anchors the center, which includes other merchants such as Tuesday Morning and McDonald's. Todd McNeil of MCA arranged the loan with a 30-year amortization schedule through a local bank.
AUGUSTA, GA., AND SARASOTA, FLA. — Phillips Edison-ARC Shopping Center REIT has acquired the 178,167-square-foot Richmond Plaza, located in Augusta, for $19.5 million and the 65,320-square-foot Publix at Northridge, located in Sarasota, for $11.6 million. Publix anchors both centers, which were acquired through the REIT's PECO-ARC Institutional Joint Venture I.
LARGO, FLA. — EDENS has sold the 99,000-square-foot Barclay Square, a shopping center located in Largo, to an affiliate of The Sterling Organization for $10.8 million. A 42,000-square-foot Walmart Neighborhood Market anchors the center, which is 82 percent leased. Tenants include Tuesday Morning, Beef 'O' Brady's, H&R Block and Goodyear Tires. Anthony Blanco, Lenard Williams and Mallory Ham of The Shopping Center Group represented the seller in the transaction.
