SUN CITY CENTER, FLA. — NorthMarq Capital has arranged $4.6 million in first mortgage refinancing for the 97,450-square-foot Sun City Plaza, located at 1601 Sun City Plaza in Sun City Center. Matthew Kohlhoss of NorthMarq's Washington, D.C., office arranged the 10-year loan with a 25-year amortization on behalf of the borrower, Sun City LLC, through RiverSource.
BAXTER, MINN. — Eidco Construction has been selected to renovate the 260,725-square-foot Westgate Mall in Baxter, Minn. The 65,000-square-foot renovation project will include a building addition and exterior facade work. Tenants at the shopping center include Heberger's Department Store, Big Lots and Dunhams. The mall is located at 14136 Baxter Dr.
IRONWOOD, MICH. — Farmington Hills, Mich.-based Agree Realty Corp. plans to expand Miner's Super One Foods at its Ironwood Commons Shopping Center in Ironwood. The grocery store will be expanded from 35,000 square feet to 55,000 square feet. The project includes the elimination of in-line retail space, including Sears Hardware, to make way for the Miner's expansion.
SAN ANTONIO — 4M Realty has arranged a 1031 tax exchange for the sale of the 12,421-square-foot Castle Hills Crossroads, a retail center located at 2277 NW Military Hwy. in San Antonio. Sandi Leone of San Antonio-based 4M Realty represented the seller in the transaction. David Ballard of San Antonio-based Reata Real Estate represented the buyer, KFM Partners.
TROPHY CLUB — NorthMarq Capital has secured $9.7 million in financing for the 106,507-square-foot Trophy Club Plaza, a grocery-anchored shopping center located at 101 Trophy Lake Dr. in Trophy Club. A 63,654-square-foot Tom Thumb grocery store anchors the center, which includes tenants such as Starbucks, Verizon Wireless, Subway and Great Clips. John Stewart and Brock Yaffe of NorthMarq's Denver office arranged the financing on behalf of the California-based borrower.
SALT LAKE CITY — Franchisee Mark Peterson plans to bring several new Taco Bells to Utah. The state hasn’t received a new Taco Bell in more than 10 years. The first location will be a 2,500-square-foot store in Payson that will debut in May. Peterson has also purchased land for a Taco Bell in Herriman, and has several more locations in the works. He is working with CBRE’s Salt Lake City office to select more sites. Russ Harris, vice president and retail specialist at CBRE, represents Taco Bell.
HOUSTON — Rankin NDG Houston LLC has purchased 73,740 square feet of land, located at the southeast corner of Rankin Road and Kuykendahl Road in Houston, for the construction of a 14,820-square-foot Walgreens. Levinson Alcoser Associates is providing architectural services for the project and Sundance Construction Co. is the general contractor. David Boniuk of Houston-based Mila Properties represented the seller, Boniuk Interests, in the transaction. Mark Davis of Houston-based Davis Commercial represented the buyer. The project is slated for an October 1, 2012, completion.
TORRANCE, CALIF. — Regency Centers has begun construction on South Bay Village, a 109,293-square-foot neighborhood center in Torrance. The center will be anchored by Orchard Supply Hardware and HomeGoods. They are both scheduled to open in September. In addition to these anchors, the center will include a future 30,000-square-foot anchor and one outparcel. South Bay Village will be constructed on the site of a former Kmart. The center is being built by Moorefield Construction and designed by Architects Orange.
DANVILLE, VA. — Augusta, Ga.-based Hull Storey Gibson Cos. has acquired the 731,500-square-foot Piedmont Mall, located at 325 Piedmont Dr. in Danville. The company plans to renovate the property, including an upgrade of the interior and exterior, lighting, entrances, signage, painting and flooring.
CARY, N.C. — CASTO has plans to start the 200,000-square-foot Phase II of Park West Village, a 100-acre, mixed-use development located in Cary. Phase II will include tenants such as a 55,000-square-foot, 14-screen Stone Theaters movie theater, a 52,000-square-foot Gander Mountain and a 6,000-square-foot The Wine Guy Bistro. Gander Mountain will open this fall and Stone Theaters is slated for completion in early 2013.