TEMECULA, CALIF. — First Citizens Bank has purchased a 5,107-square-foot retail building located at 44575 Avenida de Missiones in Temecula for $4.1 million. Brent Bohlken of Grubb & Ellis represented the bank. Brian Bielatowicz of Lee & Associates’ Temecula Valley office represented the seller, Riverside County’s Credit Union, in this transaction.
NEW YORK CITY — A former H&H Bagels property, located at 639 W. 46th St., has sold to an undisclosed buyer for $11 million at a bankruptcy sale in New York City. GA Keen Realty Advisors sold the property on behalf of Chapter 7 trustee Yan Geron, who had filed with the court a stalking horse contract of $10 million for the building. Geron represents the property owner, Third Toro Family Limited Partnership. The two-story building contains 12,500 square feet of space, which previously housed H&H Bagel's manufacturing plant and retail store.
CONROE — Coldwell Banker Commercial United Realtors has brokered the sale of a 70,000-square-foot shopping center, located at 700 W. Davis in Conroe. Mark McGinley of Coldwell Banker's Houston office represented the buyer, Petereit's Conroe Center, in the transaction. Charlene Nickson of ACC Realty's Houston office represented the seller, Conroe Income Investors.
HOUSTON — Houston-based Mattress Firm has opened a new 1,700-square-foot store, located in the Houston Galleria Mall in Houston. The new store marks Mattress Firm's 73rd store in the Houston area.
AVONDALE, ARIZ. — Reddy Development has purchased the Coldwater Springs Promenade in Avondale for $7.75 million. The promenade includes two existing retail stores, which are occupied by Fresh & Easy Neighborhood Market and Staples, as well as a Jack in the Box restaurant and 13,300 square feet of shop space. There are also five graded, ready-to-build retail pads situated on 10.9 acres. Reddy plans to complete the retail project. Bruce Francis and Dana Summer of CBRE Capital Markets in Phoenix represented Reddy. Mindy Korth, Barry Gabel and Cam Stanton in CBRE’s Phoenix office, along with Philip Voorhees, Patrick Toomey and Megan Read of the firm’s National Retail Investment Group, represented the seller, Labrusca Holdings Corp., which purchased the promenade through foreclosure from the developer.
TOPEKA — NorthMarq Capital has secured $9.4 million for the first mortgage refinancing of Lowe's Home Improvement Center, a 135,000-square-foot property in Topeka. The 7-year loan has a 25-year amortization schedule. Jeffrey Haskell of NorthMarq arranged the loan through a regional bank. The borrower is a private investor.
PHILADELPHIA — American Real Estate Capital has closed on a 10-year, $16 million loan for the refinancing of Convention Center Parking Garage in Philadelphia. The 306,377-square-foot property is a five-story parking garage with 12,286 square feet of ground-floor retail space. The parking garage is situated beneath a 279-room Hilton Garden Inn.
PLANO — A branch of Chase Bank, located at 161 W. Spring Creek Pkwy. in Plano, has been sold for $2.95 million. Alvin Mansour San Diego, Calif.-based The Mansour Group of Marcus & Millichap represented the seller, a local developer, in the transaction. The buyer was a private trust in a 1031 exchange.
HUMBLE — Dallas-based Net Realty Advisors has arranged the sale of a 8,000-square-foot freestanding retail property leased to Family Dollar, located at 10803 Will Clayton Pkwy. in Humble. Family Dollar has recently signed a 10-year lease at the location. Gavin Kam and Brad Kam of Net Realty Advisors represented the West Coast-based buyer in the transaction.
MALIBU, CALIF. — Sephora and Chipotle Mexican Grill have leased space at the newly rebranded Malibu Village shopping center. Sephora has leased 3,885 square feet at 3896 Cross Creek Road that will open in May. Chipotle has leased 2,050 square feet at 3834 Cross Creek Road that will open in June. Robert Cohen and Rachel Rosenberg of RKF represented Sephora and Chipotle respectively in these lease transactions. DKR Malibu Village, LLC, was represented in-house.