HILLSBORO, ORE. – A 12,000-square-foot retail building in Hillsboro's Tanasbourne area has sold to an unnamed buyer for $4.5 million. The building is currently fully leased to two medical tenants, including Aspen Dental and Concentra Health. Both recently signed 10-year leases at the property after the building was retrofitted. Chris Johnson, MaryKay West, Denis O'Neill and J.J. Unger of NAI NBS represented the seller, Quattro Hillsboro LLC, in this transaction.
SANTA CRUZ, CALIF. — Forever 21 will occupy the 22,508-square-foot space in downtown Santa Cruz that was previously home to Borders bookstore. The fashion retailer will move into the building in August after the remodeling has been completed. Stuart Zall of the Zall Company and Neal Berkowitz of Newmark Knight Frank represented the landlord, Redtree Properties, L.P., in this transaction.
MAPLE LAWN, MD. — A retail property located in Maple Lawn that is ground leased to McDonald's on a long-term, triple-net basis, has sold for $2 million. Rick Fernandez of Calkain Cos.' Reston, Va., office represented both parties in the transaction.
TINLEY PARK, ILL. — DDR Corp. has acquired Brookside Marketplace in Tinley Park, a southwest suburb of Chicago, for $47.4 million. Brookside is a 550,000-square-foot shopping center. Anchor tenants include Best Buy, Dick's Sporting Goods, Old Navy and PetSmart. Rick Drogosz and Joe Girardi of Mid-America Real Estate Corp. represented the seller, Ryan Cos. Inc., in the transaction.
MASON, OHIO — Morris, Smith & Feyh Inc. (MS&F) has arranged a $6.1 million mortgage for The Shoppes of Mason through one of its correspondent lenders. The 80,800-square-foot shopping facility is anchored by Kroger. Chad Kiner of MS&F's Columbus office originated the loan on behalf of Joseph Padanilam, owner of Aurora, Ohio-based Optimus One LLC.
OHIO — Marcus & Millichap Real Estate Investment Services has secured the listing for a seven-property portfolio of Wendy's restaurants, primarily located in Ohio. The purchase price totals $23 million and the properties can be purchased as a package or individually. Peter Nisbet of Marcus & Millichap's Seattle office is representing the seller, a Wendy's owner based on the East Coast.
WILLINGBORO, N.J. — Marcus & Millichap Capital Corp. has arranged $4.8 million in permanent acquisition financing for a Walgreens drugstore in Willingboro. The 15,120-square-foot property was built in 2001. Joshua Lipsey of Marcus & Millichap's New Jersey office arranged the financing. The 9-year loan has a 30-year repayment schedule. Nat Gambuzza of Marcus & Millichap Real Estate Investment Services' New Jersey office secured the buyer, who acquired the property for $6 million.
DALLAS — Dallas-based Metropolitan Capital Advisors (MCA) has secured a $19.5 million permanent financing package with a CMBS lender to refinance the Sunwest Portfolio. The portfolio consists of 25 retail properties in eight states. Twenty of the properties are owned fee-simple and the rest have ground leases. Dallas-based Rainier Capital Management is the loan's sponsor and Dallas-based Emersons Commercial Management manages the properties. Sunny Sajnani of MCA arranged the loan with a 10-year fixed interest rate. The amortization schedule for the fee-simple properties are 30 years, while the ground lease properties have shorter amortization periods.
LONGWOOD, FLA. — A 62,198-square-foot auto dealership, located at 2925 N. Hwy. 17-92 in Longwood, has sold for $2.17 million. Bill Parke of Colliers International's Orlando, Fla., office represented the seller, FLTVT Dealership Property, in the transaction, and Sher Tolan of Orlando-based Southern Commercial Real Estate represented the buyer, Ramy Properties.
AUSTIN — The 477,102-square-foot Capital Plaza, a regional shopping center located at 400 N. Interstate 35 and Highway 290 in Austin, has recently added three national tenants to its merchant roster. Shepler's Western Wear has leased 25,269 square feet, Champs Sports leased 5,937 square feet and Anna's Linens leased 13,600 square feet. Michele Gary and Terri Twomey of The Weitzman Group's Austin office represented the shopping center in all three lease transactions. Daren Nix of Edge Realty Partners' Austin office represented Shepler's, Charlie Quisenberry of Austin-based Steve T. Matthews Co. represented Champs and Russ Howard The Weitzman Group's Austin Office, along with Marc Marrocco of the firm's Dallas/Fort Worth office, represented Anna's Linens. Other tenants in the shopping center include Target, Ross Dress for Less, Fallas Paredes, Melrose, Walgreens, Mattress Firm and Chase Bank.