CINCINNATI — Oak Brook, Ill.-based Inland Real Estate Corp. has purchased Stone Creek Towne Center in Cincinnati for $36 million. The 143,000-square-foot property is anchored by Best Buy, Bed Bath & Beyond and Old Navy. Ben Wineman of Mid-America Real Estate Corp. and Amy Holter of Anchor Associates represented the seller, a joint venture between Bellevue, Ky.-based Brandicorp and Trinity Development Co. of Knoxville, Tenn. Inland Real Estate was self-represented.
OMAHA — Pace Financial Group has arranged $4.5 million in permanent financing for a build-to-suit CVS, located at 2609 S. 132nd St. in Omaha. A correspondent life insurance company funded the 25-year loan. Jamison Whiston of Pace Financial's Nebraska office arranged the financing. The buyer is a family trust.
NEW YORK CITY — BLDG Acquisition Group has purchased a 3,469-square-foot retail condominium at 127 Seventh Ave. in Chelsea for $6.6 million. The condominium is fully leased to CORE Marketing Group. Jeff Fishman, Brian Segall and Jonathan Butwin of RKF represented the buyer in the transaction. They also represented the seller, Yves Retail. The condominium is located within the Yves, a 14-story residential building.
NEW YORK CITY — DWS, a footwear and accessories retailer, has opened a new store at 34th Street in Manhattan. The company also announced plans to open a store on the Upper West Side at 79th and Broadway this summer. At more than 33,000 square feet, the 34th Street store is one of the largest in the DSW chain. It includes three floors of retail space. The DWS store opening at 79th and Broadway will total 32,000 square feet.
ARLINGTON — Mace Security International has disposed of a car wash facility, located in Arlington, for $2.1 million. Mace Security netted approximately $1.57 million after closing costs and paying off the related mortgage debt of $512,000. Mace now owns one car wash facility and leases one in Texas, which the company is seeking to dispose in keeping with its strategic departure from the car wash business.
FAYETTEVILLE, GA. — Nightingale Properties has acquired the 256,903-square-foot Banks Crossing, located at 134 Banks Crossing in Fayetteville, from Banks Crossing Associates for $19.5 million. JC Penney, Kroger, Guitar Center, Farmers House Furniture, CitiFinancial and Goodyear anchor the property, which is 97 percent leased. Whitney Knoll, Fred Victor, Mark Hillis and Andrew O' Brien of Newmark Knight Frank's Atlanta office represented the seller in the transaction.
ORLANDO, FLA. — A 14,490-square-foot Walgreens, located at 1835 W. Sand Lake Rd. in Orlando, has sold for $10.03 million. Lori Schneider of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, a local developer, in the transaction. The sales price is the highest amount paid for a Walgreens in the Southeast since 2010.
FAIRVIEW PARK, OHIO — Inland Real Estate Corp. has acquired Westgate Shopping Center, a grocery-anchored shopping center in Fairview Park, for $73.4 million. Recently, the 474,000-square-foot mall was converted from an enclosed to an outdoor mall. Tenants at the center include Lowe's Home Improvement, Kohl's and regional specialty grocer Earth Fare. It is currently 94 percent occupied. The company has also closed a 10-year, 4.9 percent fixed-rate mortgage loan of $40.4 million on the property.
AUSTIN — Austin-based KW Commercial has arranged the sale of a 9,750-square-foot retail and medical center, located at 12400 N. Interstate 35 in Austin. The tenants include Einstein Bagels, JuiceSpot, Austin Orthodontic and TechRidgeDental. Nick Nelson and Jim Young of KW Commercial represented the buyer, an out-of-state investor, in the transaction. Greg Porter of Austin-based MP Commercial Partners represented the seller.
MUSTANG, OKLA. — Kennedy Funding has completed the $3.47 million note purchase of a non-performing loan for the 88,999-square-foot Silver City Town Center, a retail center located in Mustang. The loan purchaser was a limited liability company, and the loan borrower was Silver City Town Center LLC. Under the terms of the agreement, the borrower can repurchase the loan. The retail center is 55 percent leased to tenants including Tractor Supply Co., Salvation Army, The Vine and Urgent Care. Taco Bell and KFC are leasing outparcels.
