LAS VEGAS — CB Richard Ellis has brokered the sale of the more than 57,000-square-foot Shoppes at Canyon Pointe, located at 10800 W. Charleston Boulevard in Las Vegas. Terms of the deal were not disclosed. CBRE’s Charles Moore, Michael Newman and Marlene Fujita represented the seller, General Growth Properties, in its disposition of the 100-percent leased, multi-tenant retail/restaurant complex to Del Mar Partners.
Retail
WEST HOLLYWOOD, CALIF. — Coldwell Banker Commercial WESTMAC has facilitated the $1.95 million sale of a 3,000-square-foot building, located at 8756 Holloway in West Hollywood, to a prominent tanning and skin care company. The three-level building was built in 1946 and completely renovated in 2009. Coldwell Banker Commercial’s T.C. Macker and William Althouse represented the seller in the transaction, and Beitler Commercial’s Daniel Chiprut and Jacques-Henri of Munro Commercial represented the buyer.
KISSIMMEE AND BONITA SPRINGS, FLA. — Thomas D. Wood & Co. has secured $7.4 million in financing for Dollar General Kissimmee and Bonita Exchange Land. Joe Dear of Thomas D. Wood & Co. arranged a $1.3 million loan for the construction of a build-to-suit, single-tenant retail facility in Kissimmee. Located at 2220 Michigan Ave., the 9,100-square-foot facility will be occupied by Dollar General. The loan has a 75 percent loan-to-value and an 80 percent loan-to-cost. Additionally, Dear secured a $6.1 million loan for Bonita Exchange, a 23.1-acre commercial land site located in Bonita Springs. The loans will be used to refinance existing debt.
MARLBORO, N.J. — Whole Foods Market has signed a lease to anchor Marlboro Commons, a new shopping center under construction at the intersection of Routes 9 and 520 in Marlboro. Whole Foods will occupy 40,000 square feet of the 105,000-square-foot shopping center, which will be complete in 2012. Bill Lenaz of R.J. Brunelli represented the owner, Pagano Associates, in lease negotiations.
WAXAHACIE – Waxahachie Crossing shopping center, located near U.S. routes 287 and 77 in Waxahachie, has traded for $15.5 million. The 96,983-square-foot retail property is anchored by Best Buy, Ross Dress for Less and PetSmart. Built in 2009, its shadow anchors include JCPenney and The Home Depot. Craig Fuller and Scott Wiles of Marcus & Millichap’s Cleveland office and Erin Patton of the firm’s Columbus, Ohio office brokered the transaction. Jason Vitorino of the firm’s Dallas office also provided representation.
GLENDALE, ARIZ. — Marcus & Millichap has negotiated the $3.5 million acquisition of a 14,552-square-foot BevMo! store, located at 6712 West Bell Road in Glendale. The tenant is currently occupying the single-tenant, net-leased property under a sublease from CVS. Marcus & Millichap’s Jamie Medress and Mark Ruble represented the buyer, a limited-liability company, in the transaction.
ST. JOHN, IND. — The Boulder Group has brokered the sale of a single-tenant property in St. John for $2.74 million. The 63,162-square-foot parcel is 100 percent leased to Walgreens on a long-term basis. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the undisclosed Chicago-based seller. The buyer was not released.
MILWAUKEE — The Redmond Company has been selected for design and construction administration for the renovation of Silver Terrace Shopping Center in Milwaukee. Located at 5803 W. Silver Spring Dr., the 21,000-square-foot project will be completed in phases. Exterior renovations include new storefronts, new masonry, new EIFS and new roofing. Interior upgrades include relocation of existing tenants into new spaces and preparations for a new national tenant on the western end of the property.
OSSINING, N.Y. — DLC Management Corp. has commenced development of a $6.3 million Walgreens in Ossining. Infill Development, an affiliate of DLC, will construct a 9,483-square-foot, freestanding building on the site of a former strip center at the intersection of Clinton and Croton avenues. Demolition of the existing structure will begin shortly; construction of the new building will be complete by the fourth quarter of 2011. Construction financing is being provided by Hudson Valley Bank.
HOUSTON — West Oaks Mall, a 1 million-square-foot enclosed regional mall that is bounded by Highway 6, Westheimer Road and Richmond Avenue in west Houston, has reached an agreement with Regal Entertainment Group to bring a 14-screen multiplex Edwards Theatre to the property. As the entertainment anchor for the redevelopment of the mall, Edwards Theatre will reposition the mall's west wing by creating the setting for a new interactive pedestrian plaza surrounded by three new restaurants with outdoor café seating. Construction of Edwards Theatre will begin this spring with a projected opening set for fall 2012. West Oaks Mall is owned by a joint venture between New York-based Square Mile Capital Management and Los Angeles-based Pacific Retail Capital Partners. It sits on nearly 92 acres, including several perimeter retail and restaurant buildings, and is anchored by Dillard's, Macy's and Sears.