OMAHA — NorthMarq Capital has arranged $14 million in first mortgage refinancing for Lakeside Plaza I, a 171,124-square-foot grocery-anchored shopping center, located at 17372 Lakeside Hills Plaza in Omaha. Jason Kinnison of NorthMarq's Omaha office arranged the financing through the firm's relationship with Citigroup Global Markets Realty Corp. The 10-year loan has a 30-year amortization schedule.
HARRISON, N.J. — The first phase of the $750 million Harrison Station mixed-use development in Harrison, N.J. is complete. The new building, located at 300 Somerset St., includes 275 apartments with 12,814 square feet of street-level retail space. More than 130 apartments have been leased and a total of 5,500 square feet of retail space has been leased to Five Guys Burgers & Fries and Pronto Gourmet. Construction of the second phase, a 136-room Element Hotel, will begin in early 2012. Once complete, Harrison Station will include 2,600 residences and 80,000 square feet of retail space. The project developers are Ironstate Development Co. and the Pegasus Group.
PHILADELPHIA — Charming Charlie, a fashion accessory boutique, will open a new, 12,000-square-foot store at the Plymouth Meeting Mall in suburban Philadelphia. The store will be located in the outdoor retail wing that also includes Orvis and Coldwater Creek. Pennsylvania Real Estate Investment Trust is the landlord.
OKLAHOMA CITY, OKLA. — Irvine, Calif.-based Hanley Investment Group has brokered the $11.58 million sale of the 202,247-square-foot Southern Hills Shopping Center, located at 1414-1630 SW 74th St. and 7620 S. Pennsylvania Ave. in Oklahoma City. The property is 95 percent leased to Aaron's, B-Sew Inn, Dollar Tree, Golf USA, Hancock Fabrics, Horse & Rider, Joe's Crab Shack, Mazzio's Italian Eatery, Mill Creek Carpet & Tile, Northern Tool, Ocean Dental, SAS Shoes, Starbucks and Wendys. Eric Wohl, Kevin Fryman and Edward Hanley of Hanley Investment Group's Irvine office represented both the buyer, a Los Angeles-based private investor, and the seller, a Cincinnati-based institutional investment company, in the transaction.
ST. PETERSBURG, FLA. — Atlanta-based Halpern Enterprises has purchased the 46,020-square-foot The Shoppes at The Royale, located at 1400 66th St. N. in St. Petersburg, from Tyrone Crossings Investors for $7.55 million. Tenants include Jimmy John's, Chipotle, Pei Wei, Five Guys Burers & Fries, Massage Envy, Smoothie King, Verizon Wireless and Rib City. The center will be renamed The Village at Tyrone. Michael Milano of Colliers International's Tampa Bay, Fla., office, along with Cynthia Shelton of the firm's Orlando, Fla., office represented the seller in the transaction. The buyer was self-represented.
CEDAR RAPIDS, IOWA — The Boulder Group has arranged the $4.17 million sale of a 13,905-square-foot, single-tenant Walgreens property, located at 3325 16th Ave. SW in Cedar Rapids. The property is leased to Walgreens for eight years. Randy Blankstein and Jimmy Goodman of the Boulder Group represented the seller, a Chicago trust, in the transaction. The buyer was a Miami-based investor.
SPRINGFIELD, MO. — Gladstone Commercial Corp. has purchased the leasehold interests in a 14,560-square-foot retail building in Springfield, Mo. leased to the Walgreens Co., for $2.7 million. The tenant has 62 years remaining on its lease term with rights to terminate every five years in years 19 to 62.
TUALATIN, ORE. –– Progress Ridge TownSquare, a $100-million, 20-acre mixed-use, entertainment and shopping destination in Tualatin, has gained a handful of new tenants. The 325,000-square-foot center welcomed Ace Hardware, which occupies 13,000 square feet; Fulcrum Fitness, which will lease 3,100 square feet; Black Eagle Martial Arts, which will take 1,430 square feet; and Sweet Siren Boutique, which leased 1,300 square feet. Black Eagle expects to open in late January or early February. Fulcrum Fitness will debut in February. Gentle Dental, T-Mobile and Ava Roasteria also recently opened at Progress Ridge. These new tenants bring Progress Ridge’s occupancy rate to 90 percent.
ORLANDO, FLA. — The 7,527-square-foot former Bola Restaurant, located at 8148 International Dr. in Orlando, has sold for $2.7 million. The buyer plans to renovate the building and expand it to 8,500 square feet for a new Kobe Japanese Steakhouse restaurant. Completion is slated for May of 2012. Kevin O'Connor and Matt Cichocki of Maitland, Fla.-based NAI Realvest represented Brooklyn, N.Y.-based Hollywood Plaza Holdings, the seller, in the transaction. Jon Rose of Charles Wayne Properties' Maitland office represented Altamonte Springs, Fla.-based TC Holdings-International Drive, the buyer.
WILLOW GROVE, PA. — The Real Estate Equity Co. has acquired the 71,000-square-foot Willow Grove shopping center in Willow Grove for $14.6 million. The center is fully net leased to Best Buy, and 8,500 square feet of the shopping center is sublet to Pier 1 Imports. Kevin Mcleron of CBRE's Philadelphia office represented the buyer in the transaction. The seller was Goodman Properties.