THOUSAND OAKS, CALIF. — Conejo Valley Plaza II, a 90,855-square-foot retail center in Thousand Oaks, has received $14.75 million in first-mortgage refinancing. Notable tenants at the center include Ralphs, Jo-Ann Fabric and Bank of America. Financing was based on a 20-year term and a 20-year amortization schedule. The loan was arranged by Michael Elmore of NorthMarq Capital’s Los Angeles regional office through the firm’s relationship with a life insurance company lender.
MOBILE, ALA. — Burton Property Group has acquired the 140,190-square-foot Westwood Plaza and the 244,024-square-foot Schillinger Towne Centre, located in Mobile, from The Guardian Life Insurance Company of America for $33.25 million. Hobby Lobby and Office Max anchor Westwood Plaza and Walmart SuperCenter and Burke's Outlet anchor Schillinger Towne Center. Josh Burmeister of SRS Real Estate Partners represented the buyer in the transaction. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle represented the seller. Richard Brinson of Grandbridge Real Estate Capital arranged acquisition financing.
NEWPORT, N.H. — Donzi Realty has acquired a 10,200-square-foot Dollar General property at 8 John Stark Highway in Newport for $1 million. The property is located on 3.2 acres in the heart of Newport's retail district. Tom Fini of Fini Real Estate Group represented the seller, Ola Grande Realty, in the transaction. Wilma Wilson and Kenny Sell of Real Time Realty represented the buyer.
NEW YORK CITY — TerraCRG has arranged the $4.1 million sale of a retail building at 182 Flatbush Ave. in Brooklyn. The 4,790-square-foot property is located across the street from the 675,000-square-foot Barclays Center and down the street from the Atlantic Terminal and Mall. The building was home to Triangle Sports since 1914 but was vacant at the time of sale. Geoffrey Bailey of TerraCRG represented both the buyer and seller in the transaction.
HOUSTON — HFF has arranged the sale of the 478,584-square-foot Northline Commons, a retail power center located at the northeast corner of Interstate 45 and Crosstimbers in Houston. The center is 86 percent leased to Marshalls, Ross Dress For Less, Burlington Coat Factory, Conn's and Palais Royal. Rusty Tamlyn and Ryan West of HFF represented the seller, Berenson Associates, in the transaction. The buyer, North American Development Group, was self-represented by Stephen Preston.
HOUSTON — NorthMarq Capital has secured $2.75 million in first trust acquisition financing for a 21,519-square-foot bank fully leased to Wells Fargo, located in Houston. Matthew Kohlhoss of NorthMarq's Washington, D.C., office arranged the 10-year loan with a 22-year amortization schedule through a CMBS lender on behalf of the borrower, LOG II, LLC.
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.
KISSIMMEE, FLA. — Marcus & Millichap has arranged the $9.55 million sale of the 83,340-square-foot Kissimmee Korners, located at 1507 N. John Young Parkway in Kissimmee. Tenants include Budget Rent-A-Car, Little Caesars, United Legacy Bank and state government offices. Douglas Mandel and Mark Thompson of Marcus & Millichap represented both parties in the transaction.
HAMPSTEAD, N.C. — Wakefield Associates has broken ground on the 82,000-square-foot Hampstead Town Center, a shopping center located at the intersection of Ravenswood Road and U.S. Highway 17 in Hampstead. A 44,000-square-foot Lowes Foods Grocery Store will anchor the center. Completion is slated for May 2013.
KNOXVILLE, TENN. — Ziff Properties has purchased the 31,400-square-foot Franklin Shopping Centre, located at 913-925 Highway 321 N. in Knoxville, from US Bank for $2.25 million. Aaron's Rental and Dollar Street anchor the center.