SPRINGFIELD, GA. — Todd Crouse of NorthMarq Capital's Raleigh, N.C., office has secured $4.2 million in first-mortgage financing for the 46,845-square-foot Springfield Station Shopping Center, located at 1451 Highway 21 N. in Springfield. Financing was based on a 22-year term with a 22-year, fully-amoritizing loan and was arranged through Symetra Financial.
PHILADELPHIA — Marcus & Millichap Capital Corporation has arranged a $7.04 million in refinancing for a 24,500-square-foot shopping center in Philadelphia. James Conley of Marcus & Millichap’s Philadelphia office arranged the 10-year loan with an amortization schedule of 30 years at a 5.5 percent fixed rate.
LINCON, NEB. — Pace Financial Group has arranged $1.7 million in permanent financing for a CVS/pharmacy ground lease, located at 4800 O St. in Lincoln. The 25-year loan was funded through a life insurance company. Jamison Whiston of Pace's Lincoln office arranged the financing.
CROSSROADS — Stampede Equities has acquired a 14,710-square-foot retail strip center in Crossroads. Carter Kendall of Henry S. Miller Brokerage arranged the acquisition from previous owner Stillwater National Bank. The retail center is located along U.S. Highway 380 and is 90 percent occupied with tenants like Domino’s Pizza, Cornerstone Dental and January’s Salon.
HOUSTON — Nikooi Group has purchased a 2,144-square-foot retail center from Kapadia Group. The center is located at 9202 Airport Blvd. in Houston. Hossein represented Nikooi Group in-house and Clay Rabel of Colliers International represented Kapadia in the transaction.
SCOTTSDALE, ARIZ. – Total Wine & More has leased 21,586 square feet of space at Gold Dust Plaza in Scottsdale. The wine retailer will occupy two vacant spaces, as well as a portion of the existing Ace Hardware store. The 86,507-square-foot Gold Dust Plaza will undergo a significant exterior renovation before Total Wine moves in, which will be in fall 2011. The center will also be re-branded as Total Wine Plaza. Cliff Johnston, John Appelbe and Chris Hollenbeck from Cassidy Turley BRE Commercial’s Retail Services Group represented Gold Dust's landlord, Financial Trading & Transacting, LLC. Total Wine was represented by Western Retail Advisors' Neil Board.
CHICAGO — Leopardo has been selected for two build-outs at Joseph Freed and Associates' Sullivan Center in Chicago. A 121,000-square-foot build-out for a future Target store is slated for completion in December 2011, and a 26,000-square-foot build-out of the basement level for DSW is under construction as well. Since April, Leopardo has been awarded more than 500,000 square feet in tenant interior construction contracts.
DOWNINGTON, PA. –– Marcus & Millichap Real Estate Investment Services has brokered the $51.75 million sale of a 386,016-square-foot retail power center in Downingtown, Pa. Kevin Boeve, Mark Taylor and Dean Zang, all of Marcus and Millichap, represented the buyer, Morris Ashbridge Associates, and the seller, Pacific Crest Holding, in the transaction. The property is located at 900 East Lancaster Ave., and its tenants include Home Depot, Best Buy, Staples and Jo-Ann Fabrics and Crafts.
MORRISTOWN, N.J. –– Starbucks is set to open a 2,100-square-foot storefront at The Shops on the Green at 40 Park in Morristown. The store will be Starbucks’ first new location in New Jersey location since 2009. The location is a LEED-certified store. Other Shops on the Green tenants include the AT&T store and Qdoba Mexican Grill.
TRENTON, N.J. –– CB Richard Ellis has completed the sale of a 10,000-square-foot free-standing retail property at 1242 Hamilton Ave in Trenton. Charles Berger of CBRE New Jersey’s Private Capital Group, and Eli Klapper and David Gross of CBRE’s Outer Borough Long Island Office represented the seller and procured the buyer in the net-lease-sale transaction. Dollar General has leased 100 percent of the property.