CLAYTON, N.C. — Crosland Southeast plans to construct the first phase of the 125,000-square-foot Flowers Crossroads, located on Highway 42 in Clayton. The shopping center will be part of the 28-acre Flowers Plantation, a master-planned community. A 53,000-square-foot Harris Teeter will anchor the center. The first phase will break ground in the fall with completion slated for fall 2013.
MASON, OHIO — Squire Hill Properties II has acquired the Shoppes of Deerfield South, a 20,150-square-foot retail center in Mason, for $3.2 million. The center is 89 percent occupied and tenants include AAA, GameStop and SuperCuts. The transaction is Viking Partners' first disposition, which acquired 10 assets in its first fund. A team from Colliers International, including Steve Timmel, Jeff Johnston and Chris Prosser, represented Viking Partners in the deal.
ELKHART, IND. — RV Parts Nation has signed a lease for 47,253 square feet of retail space at the North Pointe shopping center, located at 3267 Northview Dr. in Elkhart. The RV parts and accessories retailer opened its store Aug. 1. The company joins Kmart as the second anchor tenant in the center. Brent Miller of FM Stone Commercial represented the tenant in the transaction. John Letherman, also of FM Stone, represented the landlord, EIG North Pointe LLC.
EAST BRUNSWICK, N.J. — NorthMarq Capital has arranged a $7.4 million loan for the refinancing of Loehmanns Plaza, a 212,134-square-foot shopping center in East Brunswick. Loehmanns is the major tenant at the center. Gary Cohen and Greg Nalbandian of NorthMarq negotiated the 5-year loan through a life insurance company. The loan contains a 25-year amortization schedule.
THORNTON, COLO. – Riverdale Shops, an 11,127-square-foot retail building in Thornton, has sold to Hyde Grandchildren, LLC for $2.7 million. The building is located at 12840 North Holly Street. It was built in 2008 and was fully occupied at the time of sale. The buyer was represented by Tom Ethington and Rob Edwards of Pinnacle Real Estate Advisors. The unnamed seller was represented by CBRE’s Riki Hashimoto and Dan Grooters.
MIDVALE, UTAH – Woodbury Strategic Partners Fund has purchased Midvale Plaza, a 105,174-square-foot retail strip center in Midvale. The sales price was not disclosed. The property is located at 73 West 7200 South. Tod Jones of Marcus & Millichap’s Salt Lake City office represented the seller, a national real estate developer, and procured the buyer in this transaction.
NORTH PORT, FLA. — Pacolet Milliken Enterprises has acquired the 71,810-square-foot Shoppes at Price Crossing, a neighborhood center located in North Port, from SF Price Crossing LP., for $14.13 million. A 45,600-square-foot Publix anchors the center. CNL Retail is the property manager and Crossman Properties is the leasing agent.
CHARLOTTE, N.C. — RAM has sold the 28,200-square-foot Village at Whitehall, located on S. Tryon Street in Charlotte, to Catalyst Real Estate for $6.11 million. Starbucks and McAllister's anchor the center. Rob Carter, Alex Quarrier, David Webb and Rebecca Levell of Berkeley Capital Advisors represented the seller in the transaction.
WHITE LAKE, MICH. — The former Farmer Jack building at the 364,000-square-foot White Lake Marketplace will soon house two new retailers. Bed Bath & Beyond signed a lease for 28,046 square feet and Jo-Ann Fabric and Craft Store is taking 25,660 square feet of retail space. The new stores join Walmart Supercenter, Home Depot, Office Max and Fashion Bug. Gershenson Realty & Investment is the broker for the property.
SIDNEY, OHIO — Marcus & Millichap has arranged the $4.3 million sale of a 127,204-square-foot Kroger shopping center in Sidney. Antoine Matthews, Dan Yozwiak and John Reehil of Marcus & Millichap represented the seller, a limited liability company. The buyer, also a limited liability company, was self-represented.