NORTH CHARLESTON, S.C. — A 3,500-square-foot restaurant building, located at 9135 University Blvd. in North Charleston, has sold for $1.16 million. Johnny Bevon of Avison Young represented Blane Cowart, the buyer, in the transaction. Alex Ramsey of King Street Commercial represented the seller.
RICHLAND HILLS — Centennial Real Estate Co. has purchased The Crossing, a 247,720-square-foot shopping center located at the northwest corner of Grapevine Highway and Precinct Line Road in Richland Hills. Kohl's anchors the center and Kroger Signature is a shadow anchor. Centennial will manage the center, and Greg Pierce and Rob Solls of UCR will handle the property's leasing.
HOUSTON — Marcus & Millichap has arranged the sale of a 1,504-square-foot retail property, located at 17500 NW Freeway in Houston, which is ground leased to Pizza Hut. Vincent Knipp of Marcus & Millichap's Fort Worth office represented the seller, a limited liability company, in the transaction. Glen Kunofsky and Judson Kauffman of Marcus & Millichap's Manhattan office represented the buyer, an individual trust. Pizza Hut has operated the location since 1991 and recently extended its lease on the property by 10 years.
JACKSONVILLE, FLA. — Inland Real Estate Acquisitions has purchased the 40,207-square-foot The Shops at Julington Creek, located at 12807 San Jose Blvd. in Jacksonville, for $8.8 million. The Fresh Market anchors the center, and additional tenants include Hurricane Grill & Wings, Metro Diner and Sprint. The buyer was self-represented in the transaction by Mark Consenza.
PORT RICHEY, FLA. — A partnership between Deerfield Beach, Fla.-based Konover South and Miami Beach, Fla.-based Argate Properties has plans to retrofit a 100,000-square-foot building, located on U.S. Highway 19 in Port Richey. The $4.5 million project will include a 65,000-square-foot Burlington Coat Factory and a 25,000-square-foot hhgregg. Completion is slated for October 1 of this year.
MINOT, N.D. — CBL & Associates Properties has acquired the 622,000-square-foot Dakota Square Mall in Minot, from the New York City-based Lightstone Group. The single-level mall is anchored by a nine-screen Carmike Cinema, Herberger's, JCPenney, Sears, Target and Barnes & Noble. The center generated sales of $470 per square foot for the 12 months ending on March 31 and was 94 percent occupied at the time of the sale. Dakota Square Mall was acquired for $91.48 million, including the assumption of a $59 million loan, which matures in November 2016 and bears a fixed interest rate of 6.23 percent. Savills represented the seller in the transaction.
AUBURN HILLS, MICH. — Prefix Corp. has purchased a 129,562-square-foot retail space at 3500 Joslyn Road in Auburn Hills for an undisclosed amount. The building formerly housed a K-Mart. Paul Hoge and Jim Montgomery of Signature Associates represented the buyer in the transaction. Hoge also represented the seller, TD Joslyn Rd. LLC.
DALLAS — Germany-based Victory Park UST Joint Venture I is partnering with Trademark Property Co. to plan and execute the redevelopment of its retail holdings in the southern district of Victory Park, a 75-acre mixed-use development located in downtown Dallas. Trademark will develop and implement a merchandising and leasing strategy for the ground floor retail space and undeveloped land along Victory Park Lane, the ground floor retail space in The Cirque and the 436,000-square foot One Victory Park, a 20-story Class A office building. The property is managed by Orlando, Fla.-based Estein & Associates USA.
JACKSON, MISS. — DHS Ventures has acquired a 62,322-square-foot former Brookshire's Grocery, located in Jackson, for $1.7 million. Josh Burmeister and Buff Teague of SRS Real Estate Partners represented the buyer in the transaction.
DALE CITY, VA., AND CHARLESTON, S.C. — Bryson Thomason of Q10/Professional Mortgage Co. has arranged two retail loans, totaling $9.05 million. Thomason arranged a $5.55 million, 12-year, fully amortized loan for the 53,561-square-foot Staples Mill Plaza, a Food Lion-anchored neighborhood shopping center located on Minnieville Road in Dale City. Additionally, he negotiated a $3.5 million, 13-year, fully amortized loan for the 56,200-square-foot Citadel Crossing, a Food Lion-anchored shopping center located on Ashley Town Center Drive in Charleston.