SCOTTSDALE, ARIZ. — Sonora Village in Scottsdale has received a $33.65-million acquisition loan. The loan on the 248,322-square-foot community shopping centerfeatures a 10-year term, two years of interest-only and a 30-year amortization schedule. It was arranged for the buyer by NorthMarq via its relationship with a CMBS lender.
STUART, FLA. — Kite Reality Group has acquired the 160,000-square-foot Cove Center, an unencumbered shopping center in Stuart, for $22.1 million. Cove Center is 97 percent leased and is anchored by Publix Supermarket and Beall’s Department Store.
SCHERTZ — Marcus & Millichap has sold the 4,921-square-foot Christian Brothers Automotive, a car dealership located at 205 FM 3009 in Schertz. Jason Vitorino of Marcus & Millichap’s Dallas office represented the seller. The buyer was an out-of-state investor.
EL CAJON, CALIF. — A 43,480-square-foot retail building in El Cajon has sold to Securities Real Estate Fund 2012, LLC for $5.95 million. The property is located at 1571-1641 Magnolia Ave. The buyer was represented by Eileen Schuler of Schuler Commercial Real Estate. The seller, CCMS 2005-CD1 El Cajon Retail, LP, was represented by Joe Yetter, Mike Clark and Brent Williams of Cassidy Turley San Diego.
AUBURN, ALA. — Hull Storey Gibson has acquired the 523,948-square-foot Village Mall in Auburn. Belk, Dillard's, JC Penney and Sears anchor the center. The buyer plans to enhance the appearance and shopping experience of the mall by making gradual improvements and reconfigurations, such as displaying historical photographs that celebrate the history of the area.
YULEE, FLA. — The Roseview Group has announced the sale of the 33,707-square-foot Amelia Station and a 13.62-acre development tract located at the intersection of State Road 200 and Amelia Concourse in Yulee, for $2.8 million. Purchased by a California-based investor, the tract has development rights for an additional 108,000 square feet of retail or office space. Winn-Dixie anchors the center, which contains a Domino’s Pizza, Dollar Store and many local restaurants. The property is 71 percent leased. Cliff Taylor of CBRE Group represented the seller, The Roseview Group’s bank client, in the transaction.
BALLWIN, MO. — Ramco-Gershenson Properties Trust has purchased Central Plaza, a 175,143-square-foot shopping center in Ballwin, for $21.5 million. Central Plaza is located along Manchester Road and is anchored by buybuy Baby, Ross Dress for Less, JoAnn and Office Max. Additional retailers include Tuesday Morning, Five Below and Famous Footwear. Ben Wineman of Mid-America Real Estate Group-Missouri LLC and Scott Seyfried of Pace Properties represented the seller, Pace Properties, in the transaction. The buyer was self-represented.
ROWLETT — American Realty Capital — Realty Centers of America has acquired the 106,000-square-foot Liberty Crossing Shopping Center, located in Rowlett, for $21.6 million. The transaction marks American Realty Capital — Retail Centers of America's first acquisition. The property is 95 percent leased to tenants including Ross Dress for Less, PetSmart and Dollar Tree. Dallas-based Lincoln Property Co. will operate the shopping center.
HOUSTON — Coldwell Banker Commercial United, Realtors has brokered the sale of the 21,096-square-foot Shadow Lake Shopping Center, located at 3531 and 3533 S. Dairy Ashford in Houston. Mark McGinley of Coldwell Banker represented the seller in the transaction. Gary Smith of Republic Central Realty represented the buyer, a private investor.
TEMECULA, CALIF. — A single-tenant Panera Bread in Temecula has sold to a private investor for $2,715,000. The 4,850-square-foot building was constructed in 2010 and is located at 41798 Nicole Lane. Patrick G. Kent of Hanley Investment Group Real Estate Advisors represented both the buyer and the seller, Creekside Retail Investors, LLC, in this transaction.