CINCINATTI — An affiliate of Dallas-based Tabani Group Inc. has acquired Northgate Mall in Cincinnati for $21.5 million. The regional mall is located directly south of Interstate 275 in Colerain Township. The real estate company plans to redevelop the 915,956-square-foot mall, as well as the property surrounding it. Rockrose Real Estate Advisors arranged the sale on behalf of E3 Advisors. The distressed property has been under the control of a court-appointed receiver since 2009. The mall is anchored by Sears and Macy's, following the closure of Dillard's in 2009.
RAYTOWN, MO. — Monopoly Acquisitions has purchased a 54,000-square-foot shopping center in Raytown. The Blue Ridge Plaza Shopping Center is located on Blue Ridge Boulevard and 51st Street and is anchored by Family Dollar. Bill Maas of Block & Co. Inc. Realtors represented the seller in the transaction.
PHILADELPHIA — David Fryer of G.S. Wilcox & Co. has arranged $29 million in financing for Whitman Plaza, a 280,000-square-foot retail center in Philadelphia. The center is anchored by Pathmark. Additional tenants include Burlington Coat Factory and Ross Dress For Less. Continental Casualty Co. provided the loan to the borrower, Garden City, N.Y.-based Breslin Realty.
MANASSAS, VA. — A 5,000-square-foot Uno's Chicago Grill, located at 10701 Bulloch Dr. in Manassas, has sold for $1.3 million. The property is leased to Uno's on a long-term, triple-net basis. Joe Pfahler of Fredericksburg, Va.-based Silver Commercial Brokerage represented the seller in the transaction and Rick Fernandez of Calkain Cos.' Reston, Va., office represented the buyer.
BIRMINGHAM, MICH. — Walgreens plans to open a new location at the former Borders Books & Music site in Birmingham. The drugstore retailer will occupy the ground floor and second floor of the building, located between East Maple and West Beaver roads. Michigan-based Lormax Stern managed the deal and the approval process. Brad Rosenberg and Susan Acciaiolli of Mid-America Real Estate represented the landlord, Related Birmingham LLC, in the deal.
WOBURN, MASS. — Linear Retail Properties has acquired West Marine Plaza in Woburn for $5.3 million. The 32,515-square-foot shopping center is located at 299 Mishawum Rd., across from the Woburn Mall. The retail property was developed in 1993 for Toys “R” Us, and is currently fully leased to West Marine and Sleepy's. Peter Considine and Scott Black of The Dartmouth Co. and Aaron Savin of ECHO Retail represented the seller, Office Depot Inc., in the transaction. They also procured the buyer.
BETHLEHEM, GA. — A 45,200-square-foot, 12-screen Carmike Cinemas movie theater, located at the intersection of GA Highways 316 and 81 in Bethlehem, has sold for $8 million. The tenant commenced a 20-year, triple-net lease with rent bumps in January 2012. The seller was a local real estate company and the buyer was a national single-net, net-leased investment group.
EDWARDSVILLE, KAN. —Zumiez.com, a skateboarding and apparel retailer, has inked a new lease for 153,000 square feet at 9911 Woodend in Edwardsville, Kan. Joseph Accurso of Kessinger/Hunter & Co. represented the tenant in the transaction. Phil Algrim of NAI Capital Realty represented the landlord, Fastenal Co.
PHARR — Plano-based Cinemark Holdings has plans to open a 16-screen, all-digital Cinemark NextGen movie theatre, which will be located in Phase I of Pharr Town Center's renovation and expansion at North Jackson Road and U.S. 83 Expressway in Pharr. The theater is slated to open in 2013.
DENVER — Sur La Table is expanding at the Cherry Creek Shopping Center in Denver. The specialty cookware retailer will close its current location within the center on April 3 before expanding into a 7,434-square-foot space at 121 Clayton Lane. Stuart Zall of The Zall Company and Steven Bartha of SJBartha Consulting Group represented Sur La Table. David, Hicks & Lampert Brokerage represented the landlord, AmCap Properties, in this transaction.