BLOOMINGTON AND ROSEVILLE, MINN. — Cost Plus World Market is returning to the Minneapolis-St. Paul market this September, after leaving the Twin Cities market in 2009. The company is opening two stores in the area Sept. 13. One will be located at 4250 West 78th St. in Bloomington and another will open at the Rosedale Marketplace at 2401 Fairview Ave. North in Roseville. Cost Plus World Market is a specialty retailer known for furniture, home decor and gifts from across the globe.
JENNINGS, MO. — Genx Clothing has signed a lease for 7,950 square feet of retail space at Buzz Westfall Plaza on the Boulevard, located at 8035 West Florissant in Jennings. Grant Mechlin of Sansone represented the landlord, Sansone Plaza on the Boulevard LLC, in the transaction.
PHILADELPHIA — The Pennsylvania Real Estate Investment Trust has completed the refinancing of three of its malls in New Jersey and Delaware. The three loans total $402 million at an average interest rate of 4.06 percent. The loans replaced mortgage balances totaling $316.7 million, which together carried an average rate of 5.30 percent. The loans are secured by Cherry Hill Mall, a 1.3 million-square-foot center in Cherry Hill, N.J.; Cumberland Mall, a 944,000-square-foot center in Vineland, N.J.; and Christina Center, a 303,000-square-foot center in Newark, Del.
LUBBOCK — Faris Lee Investments has arranged the $5.7 million sale of a 30,000-square-foot retail property leased by Best Buy, located at 5916 W. Loop 289 in Lubbock. Jeff Conover of Faris Lee represented the buyer, Cole BB Lubbock TX LLC, a buying entity of Phoenix-based Cole Real Estate Investments, in the 1031 exchange. Conover also represented the seller, Hawaii-based Lubbock HPI.
CONROE — HFF has secured $5 million in refinancing for the 107,358-square-foot Pine Hollow Shopping Center, located at Interstate 45 and Loop 336 North in Conroe. The shopping center is currently 92 percent leased to Aaron's, Northern Tool+Equipment, Dollar Tree and Star Cinema Grill. Travis Anderson of HFF arranged the 10-year loan through Aetna Life Insurance Co. on behalf of the borrower, Cencor Realty Services.
GRAND PRAIRIE — Saks Fifth Avenue OFF 5TH has opened its ninth Texas location at the new Paragon Outlets in Grand Prairie. The 27,548-square-foot store is the company's 64th location.
COPPELL — The Learning Experience Academy of Early Education has leased an 11,000-square-foot office building, located at 123 E. Sandy Lake Road in Coppell, near Dallas. The lease term is 15 years. The property will include a 5,200-square-foot playground. Bob Buell of Fults Commercial Real Estate represented the landlord, 3B Developers, in the lease transaction. Jordan Meyerson of ComRealty Group represented the tenant.
IMPERIAL BEACH, CALIF. – A 14,884-square-foot retail property occupied by CVS in Imperial Beach has sold to Drooz Trust for $7 million. It is located at 800 Palm. Drooz was represented by Hamid Soroudi and Kimberly Roberts Stepp of Charles Dunn Company. The seller, Imperial Beach Promenade, LLC was represented by Sam Hanna of Marcus & Millichap.
CHARLOTTE, N.C. — Percival McGuire has broken ground on the $7 million, 35,000-square-foot Northlake Plaza, a retail center located at 7809 W. W.T. Harris Blvd. in Charlotte. The center is pre-leased to McDonald's, Buffalo Wild Wings and Discount Tire. Percival McGuire is also planning a fourth building totaling 10,000 square feet for the property. McDonald's is slated to open in the first quarter of 2013, and Buffalo Wild Wings and Discount Tire will open in the second quarter of 2013.
ROCKVILLE, MD. — Weingarten Realty Investors has acquired the 81,300-square-foot Pike Center, located at the intersection of Rockville Pike and Bou Avenue in Rockville, from JBG Cos. and JBG Rosenfeld Retail for $54 million. Tenants include Office Depot, Cici's Pizza, T.G.I. Friday's and a proposed Walmart.