DALLAS — NorthMarq Capital has secured $8 million in acquisition financing for the 37,612-square-foot Knox Street Promenade, a retail/restaurant development housing six tenants located in Dallas. Phillip Bankhead of NorthMarq's Dallas office arranged the 15-year loan with a 30-year amortization schedule through a life insurance company.
PHOENIX – A 4,100-square-foot, single-tenant retail property in Phoenix that is triple-net leased to Wells Fargo has sold to 8155th Ave. LLC for $9.15 million. The property was built in 2008 at 32nd and Camelback Road. The buyer was represented by Andrew Greenberg of ERG Property Advisors. The seller, TradeCor LLC, was represented by Jereme Snyder and Eric Carlton of Colliers International.
VIRGINIA BEACH, VA. — Walmart has selected Satterfield & Pontikes Construction to build a $4.9 million, 45,000-square-foot Walmart Neighborhood Market, located at 3201 Holland Road in Virginia Beach. BRR Architecture will provide design and architectural services for the project and Kimley-Horn will be the engineer. Completion is slated for February 2013.
ROME, GA. — Franklin Street Real Estate Services has arranged the $1.16 million sale of an 8,000-square-foot Family Dollar, located in Rome. Mac McCall of Franklin Street represented the seller, a Chattanooga, Tenn.-based developer, in the transaction. The buyer was an Atlanta-based investment company.
PORT WASHINGTON, WIS. — 1021 Wisconsin LLC, an entity owned by a Wisconsin-based private investor, has acquired a 2,250-square-foot Pizza Hut property in Port Washington for $667,500. The building is located less than a mile south of I-43 and is adjacent to a Shopko Express. Jeff Rowlett and Jason Ladner of Marcus & Millichap represented the buyer in the transaction.
CHESTERFIELD TOWNSHIP, MICH. — Anytime Fitness has inked a lease for 5,000 square feet in Chesterfield Village Square at 27851 23 Mile Road in Chesterfield Township. Brad Rosenberg and Gabe Schuchman of Mid-America Real Estate-Michigan Inc. represented the landlord, 51382 Gratiot Avenue Holdings LLC, in the transaction.
BEDFORD, N.H. — P&P Realty Trust, a Massachusetts investment group, has acquired a 23,497-square-foot retail plaza in Bedford for $3.8 million. The center is anchored by Rite Aid, and additional tenants include Sleepy's and Radio Shack. Tom Fini of the Fini Real Estate Group represented the seller, RAD08 LLC, in the transaction. He also represented the buyer.
WILMINGTON, DEL. — Auto parts retailers Advance Auto Parts and Pep Boys recently signed new leases in Wilmington. Advanced Auto leased 6,000 square feet at The Depot, a freestanding building at 3405 Kirkwood Highway that was formerly a Blockbuster store. Pep Boys leased 5,000 square feet in the Villa Monterey Shopping Center at 729 Philadelphia Pike. Jim O'Hara of NAI Emory Hill represented the landlord, Gap 41 Ventures, in the Advanced Auto transaction. Jim O'Hara and Kevin O'Hara, also with NAI Emory Hill, represented Pep Boys in the Villa Monterey lease.
HEBRON, THE COLONY AND LOWRY CROSSING — Houston-based Spec's Wine, Spirits & Finer Foods has leased locations in Hebron, The Colony and Lowry Crossing. The Hebron store, located at 2401 W. Parker Road, spans 12,000 square feet and is now open. Sam Gruner of Hank Dickerson Co. represented the landlord, One Emsee, in the lease transaction. The Colony store, located at the northeast corner of State Highway 121 and Blair Oaks, spans 20,000 square feet and is projected to open in the spring of 2013. Tommy Crowel of The Standridge Company represented the landlord, Memorial 121 Land, LTD. The Lowry Crossing store, located at 4100 E. State Highway 380, spans 14,261 square feet and also serves as the Spec's Collin County distribution facility. Gruner represented the landlord, Big Tex Lowry Crossing. Jeff Brand of Brand Capital Partners, along with Jody Detmore of SFP Brokerage, represented the tenant in all three lease transactions.
BOISE, OREM, UTAH, MALIBU, CALIF. — Kennedy Wilson(KW) and its partners have recently acquired three Western-based retail properties for a total of $37.3 million. Its most recent acquisition was a 209,329-square-foot, multi-tenant retail center in Orem. It has also purchased 15,118 square feet of retail and office space in Malibu, as well as a 114,404-square-foot retail center in Boise. Partners in these acquisitions included The LeFrak Organization and Kennedy Wilson Fund IV, among others.