JACKSONVILLE, FLA. — Alison WIlliams of NorthMarq Capital's Tampa, Fla., office and Joel Coykendall of the firm's Jacksonville office have arranged $2.7 million in first mortgage financing for an 18,920-square-foot freestanding retail property located at 10207 Buckhead Branch Dr. in Jacksonville, which is entirely leased by CompUSA. Financing was based on a 10-year term with a 25-year amortization schedule and was arranged for the borrower, The Gate Group, through Protective LIfe Insurance Co.
SHELBY TOWNSHIP, MICH. — A 76,830-square-foot retail building containing a Christmas Tree Shops and buybuy BABY has been sold for $4.25 million. Daniel Kukes and Kevin Baker of Farmington Hills, Mich.-based Landmark Commercial Real Estate represented the buyer, and Ron Goldstone and Bill Bubmiak of Southfield, Mich.-based NAI Farbman represented the seller.
BRAINTREE, MASS. — Carpenter & Co. and Boston-based BayNorth Capital have broken ground on a redevelopment project in Braintree, Mass. The project will include a Hyatt Place Hotel and several retail stores. The site is located at 37 Forbes Road, where the former Sheraton Braintree stands. The development spans 10.2 acres and will house a new retail development comprised of a new 32,000-square-foot retail building, a restaurant and a 6,000-square-foot retail pad, currently under lease with Jared, The Galleria of Jewelry.
NEW YORK CITY — New York-based Time Equities Inc. has purchased 5,475 of retail space at The Cove Club in Battery Park City for $3.6 million. Tenants include Kumon Learning Center, North American Youth Ballet and South Cove French Cleaners. Hy Schermer and Chris Pulling represented Time Equities in-house and Nick Petkoff of Massey Knakal represented the seller. The Cove Club, a 157,585-square-foot residential building, is located at 2 South End Ave.
MILFORD, MASS. — First 178 Realty has purchased an 8,300-square-foot retail strip center in Milford for $820,000. Eric Brosler of MetroWest Commercial represented First 178 and Victor Galvani of Framingham, Mass.-based Parsons Commercial Group represented the seller. The multi-tenant retail property is located at 178 East Main Street in Milford.
EDINBURG — Marcus & Millichap Real Estate Investment Services has brokered the sale of University Corners, a 10,700-square-foot retail property located at 1708 West University Drive in Edinburg. Philip Levy of Marcus & Millichap’s Fort Worth office represented the buyer, a private investor, and the seller, a developer. The property is shadow-anchored by Walmart and is located across the street from University of Texas-Pan-American.
HOUSTON — Houston-based Jump Houston has leased 54,000-square-feet of space at the League America recreation complex. The facility is located at 10510 Westview Drive in Houston. Neil P. Martin of Finial Group represented League America and Marshall Clinkscales and Blake Gibson of Colliers International represented Jump Houston. League America is a recreation facility comprised of eight basketball and volleyball courts, baseball fields, weight rooms, dance rooms, sports shop and a restaurant.
HOUSTON — Jacksonville, Fla.-based Regency Centers has leased a combined 8,600 square feet of retail space to four new tenants in the Houston market. Zoes Kitchen has leased 3,018 square feet at Sterling Ridge Village Center, which bring the center to full occupancy. Zoes is slated to open in December. Woodland’s Eye Center has leased 2,019 square feet at Indian Springs Center, which brings the center to full occupancy. Woodland’s Eye Center is expected to open in October. Orange Leaf Frozen Yogurt has leased 1,875 square feet at Sweetwater Plaza, bringing the center to 96 percent occupancy. Orange Leaf is scheduled to open in October. Orange Lunch Box has leased 1,700 square feet at Woodway Collection, which is undergoing redevelopment. Orange Lunch Box is slated to open in December.
FRISCO — Centro Properties Group U.S. has opened Mojitos Restaurant and Willetts Sew and Vac Essential at The Market at Preston Ridge in Frisco. Mojitos has opened in 2,467 square feet, while Willetts Sew and Vac Essential leased 2,400 square feet. Centro Properties, which owns The Market at Preston Ridge, was represented in-house by Mike Watson.
BELLEVIEW & TEMPLE TERRACE, FLA. — Englewood Cliffs, N.J.-based Deerwood Real Estate Capital has closed on two retail loans in Florida. A 204,474-square-foot shopping center in Belleview received a 10-year, $9.5 million loan. In Temple Terrace a 109,004-square-foot retail property currently leased to KMart received a 7-year, $4.92 million loan. Russell Kimyagarov of Deerwood negotiated both loans.