LAKE WORTH — NorthMarq Capital has arranged $2.6 million in first mortgage financing for Staples and Applebees locations in Fort Worth. The two merchants occupy a combined 28,500 square feet of retail space. Ronald Reese of NorthMarq's Dallas office and Gary Cohen of the firm's north New Jersey office arranged the financing on a 10-year term with a 20-year amortization schedule through Symetra Life Insurance Co. on behalf of the borrower, Sachs Investing Co./Palin Enterprises.
SAN DIEGO – Independence Square Shopping Center in the Kearny Mesa submarket of San Diego has received $12 million for a refinance. The permanent financing was arranged by Newmark Realty Capital. The fixed-rate, non-recourse loan includes a 10-year term. The borrower was a private client and the lender was a national bank. Financing was arranged by James Dick, a vice president in Newmark’s San Diego office.
POMPANO BEACH AND LANTANA, FLA. — Stiles Realty has arranged the sale of two former City Furniture stores in two separate transactions. In Pompano Beach, Spring Holding purchased the 58,811-square-foot showroom, located at 1001 W. McNab Rd., for $3.52 million. CBRE represented the buyer. In Lantana, Lantana Holdings bought the 44,000-square-foot store, located at 1330 W. Lantana Rd., for $3.3 million. Stiles Realty represented Advanced Business Associates, the seller, in both transactions.
SCOTTSBORO, ALA. — Cassidy Turley has brokered the $2.86 million sale of the 60,000-square-foot County Park Plaza, located at 1402 County Park Rd. in Scottsboro. Aaron's Sales & Leasing and Food World anchor the center, which is currently 95 percent leased. Drew Fleming and Mark Joines of Cassidy Turley's Atlanta office represented RCG Ventures, the seller, in the transaction. The buyer was an Atlanta-based private equity group.
CARROLLWOOD, FLA. — Weingarten Realty Services has purchased a 6.33-acre property, located on Northdale Boulevard in Carrollwood, for $2.75 million to build a 37,144-square-foot Whole Foods. Jeff Tolrud of Colliers International's Tampa Bay, Fla., office represented Northdale Associates, the seller, in the transaction. Weingarten will clear the former JC Penney Credit Processing building currently occupying the site. Whole Foods is expected to open in late 2012.
VORHEES, N.J. — Marcus & Millichap Real Estate Investment Services has negotiated the $15.9 million sale of a retail condominium in Vorhees, N.J. net-leased to BJ's Wholesale Club. Matthew Gorman, Tom Gorman and Michael Shover of Marcus & Milllichap's Philadelphia office represented the seller, a local developer. The Gormans and Shover also teamed with Marcus & Millichap's Mark Taylor and Dean Zang to represent the buyer, H&R Reit of Canada. The 115,396-square-foot property was developed as a reverse built-to-suit for BJ's Wholesale Club in 2004. BJ's has 13 years of term remaining on the 20-year lease.
PASADENA — Bravo Ranch Supermercado has signed a 42,130-square-foot retail lease to occupy space at South Richey, a community center located in Pasadena. The Hispanic grocery store is slated to open in April 2012 in a space that Kroger used to occupy. The landlord, Whitestone REIT, was self-represented by Rafael Melara. Earl Harris of Weitzman Commercial's Dallas office represented the tenant in the transaction.
RIVIERA BEACH, FLA. — Deerfield Beach, Fla.-based SIKON Construction has completed construction on the new $7 million, 104,000-square-foot Publix at Riviera Beach, located at 252 E. Blue Heron Blvd. in Riviera Beach. Orlando, Fla.-based Brandon Structures developed the store, which was designed by Clearwater Beach, Fla.-based Fisher & Associates. The property includes a two-level parking structure on top of the 36,350-square-foot Publix store. The store will open on November 10.
PENSACOLA, FLA. — Plaza Advisors has arranged the sale of the 333,654-square-foot Gulf Breeze Marketplace, located at the intersection of U.S. 98 and County Road 281 in Pensacola. Walmart Supercenter and Lowe's Home Improvement shadow anchor the center. Jim Michalak and Lenard Williams of Plaza Advisor's Tampa, Fla., office, with Anthony Blanco of the firm's Miami office, represented DDR Corp., the seller, in the transaction. The buyer was a private equity group.
CEDAR PARK — Inland Western Retail Real Estate Trust has acquired the 486,896-square-foot 1890 Ranch, a shopping center located at 183-A Toll Road and East Whitestone Boulevard in Cedar Park, for $97.6 million. The shopping center includes tenants such as PetSmart, Academy Sports, Cinemark and Ross Dress for Less.