COPPELL — NorthMarq Capital has secured $1.72 million in first mortgage refinancing for the 10,000-square-foot Denton Tap Plaza, an unanchored retail property located at State Highway 121 and Denton Tap in Coppell. Phillip Bankhead of NorthMarq's Dallas office arranged the 10-year loan with a 30-year amortization schedule through a CMBS lender.
SCOTTSDALE, ARIZ. — The Lincoln Village Shops in Scottsdale has sold to Global Retail Investors for $38.7 million. The 71,142-square-foot retail center is located at 6202 N. Scottsdale Road. Notable tenants at the center include Walgreens, Trader Joe’s, Fogo de Chao, Einstein’s Bagel, My Sister’s Closet, Well Suited and Rancho Pinot Grill. The seller was Scottsdale Road Partners, an affiliate of Redwood Real Estate Partners. The transaction was facilitated by Patrick Dempsey and Jan Fincham of Lee & Associates Arizona.
OXNARD, CALIF. – A 108,382-square-foot retail redevelopment site that was formerly occupied by Home Depot has sold to Oxnard Vineyards, LLC, for $7.1 million. It is located at 2600 E. Vineyard Ave. The 11-acre site contains a 104,000-square-foot building and a 2,000-square-foot building that holds a Jack in the Box. Home Depot vacated the building in 2002. Jack in the Box has operated from this location for the past 15 years. Oxnard Vineyards intends to invest an additional $5 million to refurbish the property. Vallarta grocery store plans to occupy 63,000 square feet, while Fallas discount stores will absorb 26,727 square feet. The balance will be divided into 1,000-square-foot pads. The seller, Wells Fargo, was represented by John Battle and Paul Capra of Lee & Associates-LA North/Ventura.
SCOTTSDALE, ARIZ. – Scottsdale Crossing, a 52,850-square-foot retail center in Scottsdale that contains three inline retail buildings, has received a $6.6-million refinance. The property is located at 2765 North Scottsdale Road. It is shadow anchored by Albertson’s. Notable tenants include Subway, Einstein’s, Jamba Juice and Chipotle Mexican Grill. Financing was arranged by John M. Stewart and Ilan Reissner of NorthMarq Capital’s Denver office.
POMPANO BEACH, FLA. — Palm Aire Marketplace, a 140,312-square-foot shopping center at 299 S. Powerline Rd. in Pompano Beach, has sold. The Winn Dixie-anchored retail property is 87 percent occupied and was originally constructed in 1977 and redeveloped in 1997. Tenants include RadioShack, Dollar Tree, Sally Beauty Supply, Rent-A-Center and the UPS Store. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office as well as Lori Schneider of the firm’s Fort Lauderdale office represented the seller. Schneider also procured the buyer, a New York-based private investor.
BURBANK, ILL. — A joint venture between Abbell Associates and Hutensky Capital Partners has acquired Burbank Station, a 303,566-square-foot shopping center in Burbank. The center is anchored by Food 4 Less, Babies R Us, HomeGoods, PetSmart, OfficeMax, The Sports Authority and Sam Ash Music. The center is located on Cicero Avenue, a densely populated south suburb of Chicago. The average household income within a three-mile radius is $61,500.
MATTESON, ILL. — Marcus & Millichap has arranged the $725,000 sale of a former Bally's Total Fitness building, which was marketed as a retail redevelopment opportunity, in Matteson. The 98,881-square-foot property is located at 4701 Lincoln Mall Drive, east of the Lincoln Mall. Steven Stoehrer and George Ghattas of Marcus & Millichap represented the seller, a partnership, in the transaction.
DARIEN, CONN. — Kleban Darien LLC has acquired a 9,837-square-foot retail building at 987 Boston Post Road in Darien for $7.5 million. The property is fully leased to Brooks Brothers, the high-end apparel company, on a long-term basis. The two-story building was constructed in 2008 and is adjacent to a Metro-North train station. A team from Cushman & Wakefield, including Al Mirin, Kate Schwartz and Andrew Merin, represented the seller, Brooks Darien LLC, in the transaction.
SCOTTSDALE, ARIZ. — The Lincoln Village Shops in Scottsdale has sold to Global Retail Investors for $38.7 million. The 71,142-square-foot retail center is located at 6202 N. Scottsdale Road. Notable tenants at the center include Walgreens, Trader Joe’s, Fogo de Chao, Einstein’s Bagel, My Sister’s Closet, Well Suited and Rancho Pinot Grill. The seller was Scottsdale Road Partners, an affiliate of Redwood Real Estate Partners. The transaction was facilitated by Patrick Dempsey and Jan Fincham of Lee & Associates Arizona.
OXNARD, CALIF. – A 108,382-square-foot retail redevelopment site that was formerly occupied by Home Depot has sold to Oxnard Vineyards, LLC, for $7.1 million. It is located at 2600 E. Vineyard Ave. The 11-acre site contains a 104,000-square-foot building and a 2,000-square-foot building that holds a Jack in the Box. Home Depot vacated the building in 2002. Jack in the Box has operated from this location for the past 15 years. Oxnard Vineyards intends to invest an additional $5 million to refurbish the property. Vallarta grocery store plans to occupy 63,000 square feet, while Fallas discount stores will absorb 26,727 square feet. The balance will be divided into 1,000-square-foot pads. The seller, Wells Fargo, was represented by John Battle and Paul Capra of Lee & Associates-LA North/Ventura.