FORT LAUDERDALE, FLA. — SIKON Construction has completed a $5 million, 30,907-square-foot Publix at The Galleria Mall, located at 2414 E. Sunrise Blvd. in Fort Lauderdale. Clearwater, Fla.-based Fisher & Associates designed the property.
ROCKFORD, ILL. — Downers Grove, Ill.-based Cawley Chicago Commercial Real Estate has brokered the $9.85 million sale of the 122,092-square-foot Brynwood Square, located at 2615 Mulford Rd. in Rockford, from JTJ to Cincinnati-based Midland Atlanta. Dan O'Neill of Cawley Chicago represented both parties in the transaction.
HAMILTON, N.J. — Morristown, N.J.-based G.S. Wilcox & Co. has arranged $17.5 million in financing for the 175,000-square-foot Hamilton Square Plaza, a ShopRite-anchored shopping center located in Hamilton. David Fryer of G.S. Wilcox arranged the financing with a 25-year term on behalf of the owner and the management, Levin Management, through Northwestern Mutual Insurance Co. The property sits on 18 acres and has undergone renovations, including a redesigned 80,000-square-foot ShopRite.
DALLAS — NorthMarq Capital has secured permanent financing for the 48,901-square-foot Frankford Pavilion Shopping Center, located at 4520 Frankford Rd. in Dallas. Ronald Reese of NorthMarq's Dallas office and David Garfinkel of NorthMarq's St. Louis, Mo., office arranged the financing with a 10-year term and a 25-year amortization schedule through Minnesota Life Insurance Co. on behalf of the borrower, Bianco Properties.
POWAY, CALIF. — A 3,500-square-foot In-N-Out Burger restaurant in Poway has sold to Delta Gateway for $3 million at a 5 percent cap rate. The famous West Coast burger chain holds a 20-year, triple-net ground lease on the property with more than 19 years remaining on its initial term. Delta Gateway was represented by Ryan Barr and Ryan Bennett of Lee & Associates’ Net Leased Group in Carlsbad, Calif. The sellerrepresented himself.
ST. PETERSBURG, FLA. — Colliers International has negotiated the sale of the 74,500-square-foot BayWalk, a shopping center located at 2nd Ave. N. in St. Petersburg, for an undisclosed price. Michael Milano of Colliers International's Tampa Bay, Fla., office represented CW Capital, the seller, in the transaction. Bill Edwards, a Tampa Bay-based entrepreneur, purchased the center.
ST. LOUIS — Jones Lang LaSalle has negotiated the sale of the 482,000-square-foot Plaza Frontenac, located at 1701 S. Lindbergh Blvd. in St. Louis. The center is one of nine in the world to be anchored by Neiman Marcus and Saks Fifth Avenue. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle's Atlanta office, along with Dave Doupé of Jones Lang LaSalle's Los Angeles office, represented Davis Street Properties, the seller, in the transaction. The buyer was a joint venture between Chicago-based General Growth Properties and Toronto-based Canada Pension Plan Investment Board.
TERRELL — Dallas-based The MGHerring Group and the City of Terrell have finalized plans for a $30 million economic development agreement for Eighty Twenty, a new 225-acre, open-air shopping center located at the intersection of Interstate 20 and U.S. Highway 80 in Terrell. The first phase of the project will include 600,000 square feet of retail space and is slated for an early 2012 groundbreaking, with a spring 2013 opening. The agreement is for Terrell, the city's Tax Increment Financing District No. 1 and the Terrell Economic Development Corp. to reimburse MGHerring the cost over a 25-year period, based on sales and property taxes generated by the center. The agreement also allocates funds to the improvements to Highway 80 and FM 148.
SAN JOSE, CALIF. — Bay Area Family Fitness Centers has leased 38,133 square feet at Gould Shopping Center in San Jose. The space, located at 1035 E. Capitol Expressway, is the fitness center’s second location. It is anticipated to open by the end of the year. The company also plans to open one more Bay Area location in 2011. Robin Newton of Grubb & Ellis’ Retail Group represented Bay Area Family Fitness Centers in the lease transaction. The landlord, H.K.N. IV LLC, was represented by Todd Oliver of Terranomics Retail Services.
LAUDERHILL, FLA. — Deerfield Beach, Fla.-based SIKON Construction has broken ground on the $2.5 million renovation of the 40,000-square-foot Shoppes of Inverrary, located at West Oakland Park and Inverrary boulevards in Lauderhill. The project includes the addition of a 2,500-square-foot building, parking lot improvements and new storefronts and facades. Completion is slated for November 2011.