RICHMOND — Quantum Real Estate Advisors has brokered the sale of a 6,800-square-foot O'Reilly Auto Parts store, located in Richmond, for $1.2 million. The seller, a Chattanooga, Tenn.-based preferred developer of O'Reilly's, sold the store to a Houston-based private investor. The store has a little less than 20 years remaining on its initial 20-year triple net lease. Jordan Kaufman of Quantum represented the buyer in the transaction.
LUBBOCK — NorthMarq Capital has secured first-mortgage, long-term financing for Phase I of Canyon West, a 268,090-square-foot retail development in Lubbock. Canyon West's tenants include Target, SAMs, Burlington Coat Factory and Ross Dress for Less. David Mott of NorthMarq's Dallas office arranged the financing.
TORRANCE, CALIF. — Torrance Promenade, a 269,000-square-foot retail power center, has received a $27.6-million refinancing. The property is located at 19800 to 20100 Hawthorne Blvd. in Torrance. It is currently 99 percent leased. Notable tenants include Trader Joe’s, Office Depot, Marshalls, Same Ash Megastore, Ross Dress for Less, Loehman’s, Tuesday Morning and Party City. HFF’s John Crump and Robert Delitsky arranged the 10-year, fixed-rate loan on behalf of KIR (Kimco Income REIT) Torrance, L.P. through the firm’s relationship with a life insurance company. Kimco Income REIT is an affiliate of Kimco Realty Corporation.
WALLISVILLE — Pizza Properties, Inc. has opened a 12,000-square-foot Peter Piper Pizza restaurant, the first of 25 Peter Piper Pizza restaurants planned for the Houston market in the next several years. The new restaurant is located at 6223 E. Sam Houston Parkway North on Beltway 8. Additional sites for new Peter Piper Pizza restaurants are currently under construction in Victoria, Corpus Christi and Waco.
EAST PEORIA, ILL. — Target is opening a 135,000-square-foot store in East Peoria in March 2013. The store, located at Clock Tower Drive and West Washington Street, will be part of the 86-acre East Peoria Downtown development. The store will feature a fresh produce section, a Starbucks and a Target Pharmacy. The company plans to hire 150 to 200 employees.
WINCHESTER, VA. — Calkain Cos. has negotiated the $2.25 million sale of a 1.36-acre pad site occupied by Chick-fil-A, located in Rutherford Crossing in Winchester. Rick Fernandez and Betty Friant of Calkain Cos. represented the seller in the transaction. Andrew Fallon, also of Calkain Cos., represented the buyer.
PHILADELPHIA — Marcus & Millichap has arranged the $9.6 million sale of County Line Plaza, a 75,640-square-foot shopping center in Philadelphia. The property is anchored by Food Basics and Big Lots and is fully occupied. Brad Nathanson of Marcus & Millichap represented the seller, a local shopping center operator, in the transaction. Steve Siegel of Marcus & Millichap represented the buyer.
EAST HAVEN, CONN. — Hobby Lobby has signed a lease for 44,000 square feet in a shopping center on Frontage Road in East Haven. The center is anchored by T.J. Maxx, AMF Circle Lanes and Holiday Inn Express. Carol Hutchinson of Charter Realty & Development represented the tenant in the transaction.
KINGWOOD — NorthMarq Capital has secured first mortgage refinancing for the 48,835-square-foot Kings Crossing Town Center, located at the intersection of Lake Houston Parkway and Kingwood Drive in Kingwood. Tenants of the retail center include Cornerstone Mortgage, Chachi's Mexican and First American. Warren Hitchcock of NorthMarq's Houston office arranged the 10-year loan with a 30-year amortization schedule through one of its long-time CMBS lending relationships on behalf of the borrower, KCTC.
ORLANDO, FLA — H&R REIT has purchased the 83,167-square-foot Regency Village, located at the intersection of Vineland Avenue and International Drive South in Orlando, for $16 million. Publix anchors the center, which is 97 percent leased. Michael Cleeman of Cohen & Co. represented the buyer in the off-market transaction. Helen Putterman, also of Cohen & Co., represented the seller, Cohen Commercial Properties.