COLLEGE STATION AND LAREDO — CBL & Associates has plans for multi-million renovations of the 775,000-square-foot Post Oak Mall, located at 1500 Harvey Rd. in College Station, and Mall del Norte, 5300 San Dario Ave. in Laredo. Post Oak Mall will receive new flooring, upgraded entrances, soft seating, new food court design and updated lighting. Mall del Norte will receive upgrades that were started in 2007.
DEL RIO — NorthMarq Capital has arranged $15.75 million in financing for the 260,818-square-foot Plaza Del Sol, a regional mall located in Del Rio. John Burke and Chad Owens of NorthMarq's Houston office arranged the 10-year loan through Deutsche Bank's CMBS platform on behalf of the borrower, Levcor Inc. Plaza Del Sol's tenants include Marshalls, Ross Dress for Less, JC Penney, Bealls and Cinemark.
DENVER – One Lincoln Park, which consists of four retail condos, sold to White Crown Federal Credit Union for $1,254,795. The condos are located at 2001 Lincoln Street in Denver. The property was sold by EO, LLC dba Tower One Venture. White Crown was represented by Kittie Hook of Cassidy Turley Fuller Real Estate.
PORT ST. LUCIE, FLA. — The 511-unit Storage West, a storage facility located at 525 SW S. Macedo Blvd. in Port St. Lucie, has sold for $3.1 million. Boyd Bradfield of NAI Southcoast's Stuart, Fla., office represented the seller, Storage West LLC, in the transaction and procured the buyer, Jacksonville, Fla.-based Storage West Group LLC.
LEAWOOD, KAN. — Glimcher Realty Trust has closed on a $77 million mortgage loan secured by Town Center Plaza in Leawood. The 15-year loan has a fixed interest rate of 5 percent. The loan proceeds were used to retire the $70 million term loan in connection with completing the purchase of Leawood in December 2011. The remaining proceeds were used to reduce outstanding borrowings on the company's credit facility.
EASTPOINTE, MICH. — American Realty Capital Properties has acquired a Walgreens drug store in Eastpointe for $3.8 million. The property consists of a 15,120-square-foot, freestanding building. Walgreens Co. has a 20-year lease, with about seven years remaining.
CYPRESS — Hunington Properties has arranged the sale of the 39,757-square-foot Shoppes at Fry Road Shopping Center, located at the southeast corner of Highway 290 and Fry Road in Cypress. Philip Mullett of Houston-based Hunington Properties represented the undisclosed buyer.
MARCO ISLAND, FLA. — A 15,000-square-foot Walgreens, located in Marco Island, has sold for $5.7 million. Walgreens is on a 50-year, double-net lease, with 8 years remaining on the original term. Dougall McCorkle of Naples, Fla.-based Premier Commercial represented the seller in the transaction and Rainer Filthaut of Naples-based International Realty Co. represented the buyer, a private investor.
OMAHA, NEB., SIOUX CITY, IOWA — Dunkin' Donuts has signed a multi-unit store development agreement with existing franchisee, Savoureux Corp., for 12 new restaurants in North Omaha, Neb. and Sioux City, Iowa. The first restaurant is slated to open in 2013. Savoureux Corp. is led by NFL greats and former University of Nebraska football players Kris Brown and Zach Wiegert, who have teamed up with Jeff Woodbury, a principal of Woodbury Corp., and David Scott, CEO of Tetrad Corp. In April 2011, Savoureux Corp. committed to develop five Dunkin Donuts in North Kansas City.
CHICAGO — Clark Street Development LLC, an affiliate of Mega Realty, has sold a 16,047-square-foot Walgreens drugstore in Chicago for $13 million. Sean Sharko and Austin Weisenbeck of Marcus & Millichap's Oak Brook, Ill. office represented Clark Street in the transaction. They also represented the buyer, an overseas-based private capital investor. Walgreens signed an absolute-net, 75-year lease for the property, which is located at 5440 N. Clark St.