MARYSVILLE, OHIO — Mill Valley Plaza, an 18,353-square-foot retail plaza in Marysville, has sold to a private investor based in New Jersey for $2.7 million. The property opened in 2007 and is located 25 miles northwest of Columbus off State Route 31. Dan Cooper of Cooper Commercial Investment Group represented the seller, a private investment group from Central Ohio, in the transaction. He also secured the buyer.
NEW YORK CITY — Vorando Realty Trust has agreed to redevelop the retail and signage components of the Marriott Marquis Times Square hotel at 1535 Broadway in Manhattan. The real estate investment trust plans to invest $140 million in improvements, including converting the underground parking garage into stores and adding six stories of LED signs. Vornado entered into a lease with the landlord, Host Hotels and Resorts Inc., to reposition the property. The lease also contains an option for Vornado to purchase the space from Host Hotels, at a price based on future cash flow.
OSWEGO, N.Y. — SRE-Midtown Acquisitions has purchased Midtown Plaza, a 68,000-square-foot retail center in Oswego. The property contains two floors of retail and office space. Tenants include Rite Aid Pharmacy, Joanne Fabric and The Green Planet Grocery. The new owners are working with the City of Oswego to identify ways to enhance the property, which is located at one of the busiest corners in the city. Louis Fournier and Larry Socia of The Sutton Cos. represented the seller, Dawn BV II, in the transaction. They also represented the buyer.
NEW YORK CITY — Manhattan-based JEMB Realty has agreed to buy the real estate interests from clothing retailer Daffy's, which filed for bankruptcy Wednesday. Terms of the deal were not disclosed. According to a statement, JEMB will acquire “leasehold interests, certain real estate fixtures and certain intellectual property,” as well as three of Daffy's real estate properties located in the Northeast.
HOUSTON — Whole Foods has pre-leased a 40,000-square-foot anchor space in a 135,000-square-foot development in the Vintage Marketplace in north Houston. The developer and owner, Read King Inc., was self-represented in the lease transaction by Tony Patronella and Christie Amezquita. The Whole Foods will be the first location in Houston north of Interstate 10. The development will break ground in January 2013 and is slated for a July 2013 delivery.
HOUSTON — Calkain Cos. has arranged the $6.25 million sale of a 21,518-square-foot retail property in Houston that is leased to Wells Fargo. The lease term is 15 years. Andrew Fallon and Jerry Burg of Calkain Cos. represented the international buyer in the 1031 exchange.
VERO BEACH, FLA. — Kite Realty Group has acquired a 138,000-square-foot shopping center, located on U.S. Highway 1 in Vero Beach, for $15.2 million. Publix and Stein Mart anchor the center, which is 99 percent leased. As part of the transaction, the company assumed a $7.9 million mortgage.
NEW YORK CITY — Crocs, the casual footwear retailer, has signed a lease for 13,600 square feet at 152 West 34th St. in New York City. The store marks Crocs fourth location in Manhattan. Since its inception in 2002, Crocs has sold more than 200 million pairs of shoes in more than 90 countries. The new store is expected to open in the summer of 2013. Mark Stempel of CityVest Realty Corp. represented the landlord, The Riese Organization, in the transaction. Steven Greenberg of The Greenberg Group Inc. represented the tenant.
SELMA — HFF has arranged a $58.7 million loan for a 510,092-square-foot portion of The Forum at Olympia Parkway, a 1.2 million-square-foot power retail center located at the intersection of Interstate 35 and Loop 1604 in Selma. Tenants of the property include Bed Bath & Beyond, Ross Dress for Less, Best Buy, PetSmart, Office Max, Old Navy, T.J. Maxx and Toys “R” Us. Greg LaBine, Andy Scott and Campbell Roche of HFF arranged the loan through Northwestern Mutual on behalf of the borrower, AVR Realty Co.
MA’ALEA, HAWAII — Harbor Shops at Ma’alea, a 40,117-square-foot retail center in Ma’alea, has received $8 million in first-mortgage refinancing. The center’s primary tenant is Pacific Whale Foundation. The three-year loan features a 30-year amortization schedule. It was arranged by Ory Schwartz of NorthMarq Capital’s Los Angeles regional office.