PORTLAND, MAINE — The Hampshire Companies has sold its 32,000-square-foot retail building, which it currently fully leased to Trader Joe's, at 87 Marginal Way in Portland. The buyer, American Realty Capital II, purchased the property, which previously housed Wild Oats Co. before its merger with Whole Food Corp. CB Richard Ellis' Chris Bosworth and Dan Greenstein represented The Hampshire Companies in the transaction.
SCHERTZ — NorthMarq Capital has arranged $5.15 million in first mortgage financing for the FM 3009 Shopping Center, a 40,483-square-foot retail center in Schertz. NorthMarq's William Luedemann and Lori Sowa arranged the financing on a 20-year term with a 20-year amortization schedule for the borrower, FM 3009 Horizon, LP, through NorthMarq's correspondent relationship with StanCorp Mortgage Investors LLC. The center is currently 91 percent occupied by tenants like Dollar Tree and MedCom. The financing is extended to the center's two ground-leased pad sites as well.
HOUSTON — Sage Plaza, a 25-story Class A building at 5151 San Felipe St. in Houston, has added several new tenants. CB Richard Ellis' Bonnie Kelley represented the landlord, a fund managed by New York City-based BlackRock in the recent leasing activity. The recent tenants to lease space in the 520,453-square-foot property include: PSC, LLC has leased 71,913 square feet, and Jim Bailey of Cushman & Wakefield represented them in the transaction. Epcot Electric has leased 10,008 square feet. DeGolyer & McNaughton Corp. has renewed its lease for 6,911 square feet, and John Beach with Jackson Cooksey represented them in the renewal negotiations. Newmark Knight Frank has renewed its lease for 6,677 square feet, and Brandi McDonald represented them in house. Ramex, Inc. has leased 2,233 square feet. Aerojet Holding, Inc. has renewed its lease for 2,109 square feet, and Justin Leighton of Studley represented them in the transaction. Black & Veatch Corp. leased 2,037 square feet, and Steve Beigel with Studley represented them in the transaction.
HIGHLAND VILLAGE — Regency Centers has leased retail space in its The Shops at Highland Village, a 352,000-square-foot mixed-use center in Highland Village, to two retailers. Delta Dental Insurance Co. has leased 10,678 square feet, while Addison June Baby Boutique has leased 2,419 square feet. Steven Wentz of Cushman & Wakefield represented Delta Dental in the transaction, and there was no broker in the Addison June transaction. Ryan Griffin, leasing agent with Regency, represented Regency in house. Other tenants in The Shops include Ann Taylor, Banana Republic, Bath & Body Works, Potbelly Sandwich Works, Barnes & Noble Booksellers and AMC 12 Theatre.
CATHEDRAL CITY, CALIF. — Marc Brutten, chairman and founder of Westcore Properties, has purchased the 72,756-square-foot Mission Plaza Shopping Center in Cathedral City for $3,174,000. The distressed retail center will be managed by Westcore Properties. It consists of one free-standing pad and one vacant pad, which are situated on 7.178 acres. Mission Plaza is currently 27 percent leased. Brutten, dba WH Mission Plaza, LLC, represented himself in this transaction. The seller, CW Capital, was represented by CBRE’s Maggie Montez.
WAYNESVILLE, N.C. — CBL & Associates has started construction on the 127,500-square-foot Waynesville Commons, located at the intersection of Interstate 74 and Hyatt Creek Road in Waynesville. An 85,000-square-foot Belk will anchor the retail center, which will also include Michaels, PetSmart and 11,000 square feet of specialty stores. Completion is slated for October 2012.
FORT MYERS, FLA. — Fort Myers-based LandQwest Commercial has brokered the $6.31 million sale of a 76,783-square-foot retail property, located at 13170 S. Cleveland Ave. in Fort Myers. The building was formerly occupied by a Robb & Stucky, a furniture store. The seller was National Retail Properties.
NORTHBROOK, ILL. — Saks Incorporated has leased 25,900 square feet at the 334,955-square-foot Village Square of Northbrook, located at the corner of Lake Cook Road and Old Skokie Boulevard in Northbrook. Liz Krebs of Mid-America Asset Management represented the landlord in the lease transaction and Marlon Stone of Colliers International's Rosemont, Ill., office represented the tenant.
WARWICK, R.I. — Dover Garage II has purchased Hoxie Crossing, a 6,400-square-foot shopping center at 17 Airport Rd. in Warwick, for $3.08 million. Hoxie Crossings is located in Hoxie Four Corners and has three tenants: Starbucks, Verizon Wireless and Papa Gino's. Marcus & Millichap Real Estate Investment Services' Robert Horvath and Todd Tremblay procured the buyer, Dover Garage, and represented the seller, Bucci Development.
SAN ANTONIO AND CORPUS CHRISTI — BAB, Inc. is scheduled to open two new Big Apple Bagels restaurants in San Antonio and a My Favorite Muffin store in Corpus Christi. BAB is slated to open a Big Apple Bagels restaurant at 300 E. Houston St., Suite 105 in September with another Big Apple, also opening in September, at 19178 Blanco Rd. BAB is also planning to open a My Favorite Muffin restaurant at 3920 S. Padre Island in October.