LOS ANGELES — A 5,000-square-foot, single-tenant property occupied by Chase Bank has sold to Golden Matrix for $7.51 million. The space is located at 11975 Santa Monica Blvd. The sellers, HJRJ LLC, et al., were represented by Charles DeSantis of Charles Dunn Company.
NEW YORK CITY — NorthMarq Capital has arranged a $15 million loan for the refinancing of Cinema 123 at 1001-1007 Third Ave. in New York City. The 15,800-square-foot property is a three-screen theater. Robert Hervey and Ernest DesRochers of NorthMarq Capital arranged the one-year loan through a regional bank.
FRISCO — Marcus & Millichap has brokered the sale of the 5,200-square-foot Legacy Center, a retail property located at 4300 Legacy Drive in Frisco. Blake Burnett of Marcus & Millichap's Dallas office represented the seller, SA Challenger Inc., in the transaction. Burnett also procured the buyer, a private investor.
ATLANTA AND ORLANDO, FLA. — Shane Investment Property Group has arranged the sale of two Chick-fil-a restaurants for a total of $3.05 million. In Atlanta, a 4,107-square-foot restaurant sold and in Orlando, a 4,519-square-foot restaurant sold. Jason Long of Shane Investment Property Group represented both parties in the Atlanta sale and the buyer of the Orlando property.
BENTON HARBOR, MICH. — Quantum Real Estate Advisors has arranged the $4.9 million sale of a 14,000-square-foot Walgreens property at 875 East Napier Ave. in Benton Harbor. Walgreens has approximately 21 years remaining on its lease. Chad Firsel of Quantum Real Estate Advisors represented the buyer, an institutional investor from Minnesota. Jordan Kaufman, also of Quantum, represented the seller, a private individual from Michigan.
SAN ANTONIO — Yates Construction has completed the renovation of the 12,000-square-foot, three-story Hard Rock Riverwalk Cafe, located in San Antonio. The interior renovation included expanded seating, new finishes for the dining area and upgrades for the kitchen and restrooms. The exterior renovation included constructing a new entrance canopy on the Riverwalk level, new awnings, enclosing the outdoor patio on the street level and building a new outdoor canopy for expanded outdoor seating.
ODESSA — Marcus & Millichap has arranged the sale of the 65,231-square-foot Sherwood Village Center, located at 625 E. 42nd St. in Odessa. The property is fully leased to tenants such as O'Reilly Auto Parts, Family Dollar, Goodwill Industries, State Farm Insurance and Jackson Hewitt. Vincent Knipp of Marcus & Millichap's Fort Worth office represented the seller, Fort Worth-based Hickman Cos., in the transaction. Knipp also procured the buyer, a 1031-exchange California partnership.
HOUSTON — Regency Centers has signed three retailers and a dental management company to open locations at the 203,000-square-foot Southpark at Cinco Ranch, a Regency Centers' shopping center located at Westpark Toll Road and Spring Green Boulevard in Houston. Subway will open a 1,400-square-foot location, Menchie's Frozen Yogurt will open a 1,800-square-foot location, Supercuts will open a 1,125-square-foot store and DentalOne Partners will open a 3,000-square-foot office. Other tenants include Kroger and Academy Sports+Outdoor. The shopping center has anchor openings scheduled for December 2012 and is 84 percent pre-leased.
SELMA, CALIF. — Selma Square, a 104,371-square-foot retail center in Selma, has received $9.3 million in first-mortgage refinancing. The center is located at 2751-2883 Highland Ave. Notable tenants include Food 4 Less Store and Office Max. The loan features a 10-year term and a 30-year amortization schedule. It was arranged by Michael Elmore and David Blum of NorthMarq Capital’s Los Angeles office through the firm’s relationship with a CMBS lender.
PETALUMA, CALIF. — East Washington Place, a new 380,000-square-foot shopping center in Petaluma, has secured several new tenants. They include Dick's Sporting Goods, T.J. Maxx/Homegoods, Sprouts Grocery and Ulta Salon and Cosmetics & Fragrance. Dick’s absorbed 50,000 square feet; T.J. Maxx grabbed 46,000 square feet; Sprouts has 25,000 square feet; and Ulta secured 10,000 square feet. Other notable new tenants include Panera Bread, Subway, Sport Clips and Sift Cupcake & Dessert Bar. The center will be anchored by Target, which purchased 10 acres of vacant space where it’s constructing a separately owned 140,000-square-foot store. The landlord, Regency Centers, was represented by Matt Kircher, John Schaefer and Katie Singer with Terranomics Retail Services. Singer procured all the above-mentioned tenants except for Sift Cupcake, which was procured by Trish Gonsalves, also of Terranomics.