LOS ANGELES, PHOENIX — NorthMarq Capital has arranged $19.1 million in mortgages for two shopping centers in California and Arizona. NorthMarq arranged $13.5 million in first-mortgage financing for the 108,809-square-foot Palo Woods Shopping Center in Harbor City, CA. Financing includes a 15-year term and a 15-year amortization schedule. It was arranged by NorthMarq through its correspondent relationship with ING Life Insurance and Annuity Company. In a separate transaction, NorthMarq also arranged $5.6 million in first-mortgage financing for the 28,776-square-foot Charleston Crossing shopping center in Sierra Vista, AZ. The mortgage has a 10-year term and a 25-year amortization schedule. It was arranged by NorthMarq through its correspondent relationship with Symetra Life Insurance Company.
PORTERDALE & CONYERS, GA.; AND PENSACOLA, FLA. — Twin Rivers Capital has sold three of its retail properties: two Family Dollar Stores, located in Porterdale and Pensacola; and an AutoZone in Conyers. The total sale price of the transactions was $4.3 million. The seller was self-represented in the transaction. The buyers of the properties were undisclosed.
OHIO — National pet store chain PETCO has acquired Complete Petmart, an Ohio-based pet specialty retailer. Complete Petmart currently operates 29 stores, which are located primarily in the Dayton, Columbus and Cincinnati metropolitan areas. It also operates two stores in North Carolina and one in West Virginia. The purchase significantly expands PETCO's presence in Ohio, bringing its total number of stores in the state to 41.
BATAVIA, ILL. — Chicago-based @properties Commercial has brokered the sale of an 11,000-square-foot, freestanding retail building located in Illinois. The property is leased to Advance Auto Parts. Esther Berman of @properties represented the seller, an undisclosed Midwest developer. David Berkson of Northbrook, Ill.-based Berkson & Sons represented the buyer, a local investor. @properties also brokered the recent sale of an Advance Auto in Des Plaines, Illinois.
HOUSTON — The 99,727-square-foot Stella Link Center, anchored by Conn's, Citi Trends and O'Reilly's Auto Parts at 91117-9335 Stella Link Dr. in Houston, has sold for $6.8 million. Cincinnati-based Phillips Edison & Co. sold the retail property to Houston-based Festival Properties. Situated on 7.5 acres, the original building was built in 1960 and an additional building was added in 1978. Eric Wohl and Edward Hanley of Hanley Investment Group Real Estate Advisors represented the seller, while Marvin Stapper of M.M. Stapper Co. represented the buyer.
SANTA CLARITA, CA — Ashley Furniture Industries purchased the former 41,850-square-foot Wicke's furniture building in Santa Clarita for $3.7 million. The building is located at 26520 Carl Boyer Drive inside the Centre Pointe Marketplace. Ashely Furniture will anchor the 650,000-square-foot retail center. Aaron Hodgdon of Hodgdon Group Realty represented Ashley Furniture. The seller, C-III Loan Asset Management, was represented by Matthew Sullivan, a managing director with Lee & Associates-Investment Services Group, Christine Deschaine, a principal out of Lee & Associates-LA North/Ventura office and associate Stephanie Skrbin.
CHARLOTTESVILLE, VA. — The 44,633-square-foot, stand-alone Whole Foods, located at 1797 Hydraulic Rd. in Charlottesville, has opened. The new store replaced the Whole Foods located at 300 Shoppers World Ct. in Charlottesville, which closed on June 5. Fairburn, Ga.-based SJ Collins Enterprises began construction on the store in March 2009. Atlanta-based Phillips Partnership was the architect on the project.
LIBERTYVILLE, ILL. — A joint venture between Inland Real Estate Corp. and PGGM has purchased Red Top Plaza, a 151,840-square-foot neighborhood shopping center located in Libertyville for $19.8 million in an all-cash deal. The center is anchored by grocer Jewel-Osco. Other tenants include Fifth Third Bank, Tuesday Morning, Edward Jones, L.A. Tan, Subway, Lou Malnati's Pizzeria and Hertz. The seller's name was not released.
LYNNFIELD, MASS. — Three tenants have sign leases at MarketStreet Lynnfield, the mixed-use project currently under development by WS Development and National Development. Whole Foods signed a 45,000-square-foot lease, Kings signed a 21,000-square-foot lease and Legal C Bar signed a 7,100-square-foot lease. Upon completion, MarketStreet will contain 395,000 square feet of retail and restaurant space, 80,000 square feet of office space, 180 apartments and a King Rail Reserve golf course. Infrastructure work is currently taking place with full construction scheduled to begin in early 2012.
OXFORD, ALA. — Phoenix-based Cole Real Estate Investments has acquired the 334,000-square-foot Oxford Exchange, located at 650 Oxford Exchange Blvd. in Oxford, for $45.5 million. The center is 97 percent leased to tenants including Bed Bath & Beyond, Hobby Lobby, Dick's Sporting Goods, TJ Maxx, PetSmart and more. Bullock Mannelly Partners represented Abernathy & Timberlake Investment Group, the seller, in the transaction and the buyer was self-represented by Clint Marchuk.