AUSTN — SRS Real Estate Partners has arranged the sale of the 10,000-square-foot Silver Creek II shopping center, located at the intersection of West Parmer Lane and Silver Creek Drive in Austin. The property is fully leased. Jason Middlebrook of SRS Real Estate Partners represented the seller in the transaction.
FOLSOM, CALIF. — A 139,377-square-foot retail center in Folsom has received a three-year, $5-million mezzanine loan. The center is shadow-anchored by Wal-Mart. The loan was used to repay existing debt, upgrade the building’s facades and provide capital for further lease up. It was arranged by RCG Longview.
ROCKFORD, ILL. — ROA Development has purchased Riverside Pavilion, an 87,125-square-foot shopping center in Rockford, for $2.4 million. Tenants include Cardinal Fitness, Domino's Pizza and Weight Watchers. Steve Timmel, Chris Prosser and Jeff Johnston of Colliers International represented the seller, Riverside Pavilion LLC, in the transaction.
RIDGEVILLE, OHIO — WXZ Development has sold a 20-year ground lease for a McDonald's property in Ridgeville for $1.7 million. Mark Luttner of Luttner Real Estate Investment Services represented the WXZ in the transaction.
NEW YORK CITY — Besen & Associates has arranged the $12 million sale of 172-174 Montague St., an 8,150-square-foot retail building in Brooklyn. Tenants include a Hallmark store and a pub, with leases expiring by July 2013. David Davidson and Lynda Blumberg of Besen & Associates represented the seller, a private investor who had at one time owned the Hallmark franchise in the building. The buyer was a local developer who plans to build on the site in the future.
KNOXVILLE, TENN. — Knoxville-based Ruby Tuesday has sold 10 of its restaurants to three buyers for a total of $22 million. A Southern California-based private investor purchased six properties in Georgia, South Carolina, North Carolina and Virginia for $12.8 million. Two Virginia properties sold to private individuals for $1.99 million and $2.09 million, and California-based Mare Living Trust acquired properties in Delware and North Carolina for $2.1 million and $2.7 million, respectively. Matt Mousavi of Faris Lee Investments represented the seller in all transactions, as well as Mare Living Trust.
HOUSTON — Newmark Grubb Knight Frank Capital Group has redeveloped and sold a 43,800-square-foot retail property, located at 7323 FM 1960 Road in Houston. Michael Zatopek and Chris Hansen oversaw the repositioning of the former Toys 'R Us into a multi-tenanted facility, and secured leases from Big Lots, E. Star Chinese Buffet and Sushi Bar and Chase Bank. Newmark Grubb Knight Frank represented the seller, Magi Houston LLC, in the transaction. The buyer was an Australia-based investor. The Toys 'R Us has been relocated to Willowbrook Court, a 60,000-square-foot retail property located in Houston.
LITCHFIELD PARK, ARIZ. — Camelback Place at Dysart, a 66,367-square-foot retail center in Litchfield Park has sold to a private investor from Canada for $8.67 million. The center, which is anchored by Ace Hardware, was 84 percent occupied at the time of sale. Mindy Korth and Barry Gabel of CBRE’s Phoenix office represented the seller, WE Valoroso Holding Corp. of Phoenix, Ariz., which acquired the property through foreclosure in March 2012.
LAS VEGAS – A Las Vegas retail center that is anchored by Walgreen’s and Smart & Final has received a loan for $8,448,000. The property was financed by a regional bank in Los Angeles. It was provided by Blake Melstrom of Pacific Southwest Realty Services’ Orange County, Calif., office.
ST. AUGUSTINE, FLA. — The Roseview Group has advised a bank client in the $4.5 million sale of two unanchored retail shopping centers totaling 33,025 square feet. Located at the entrance to Palencia, a high-end residential and golf course community in St. Augustine, the retail centers are 78 percent leased to tenants including Dunkin’ Donuts, Starbucks, Donovan’s Pub and MediMD. Roseview directed the leasing and management of the center through the Sembler Co. and engaged a local broker on behalf of the lender. Cliff Taylor of CBRE represented the seller in the transaction.