YONKERS, N.Y. — Westchester's Ridge Hill, a $685 million mixed-use shopping center in Yonkers N.Y., recently opened new stores and restaurants. The new shops include The Cheesecake Factory, Yard House, L.L. Bean, H&M, Sephora, Orvis, Gap, Desigual and Old Navy. Additional store openings will follow in November and December. Westchester Ridge Hill spans about 81.4 acres and includes more than one million square feet of retail and entertainment space.
LEWISVILLE — Cinetopia has signed a letter of intent with Bright Realty to open a 70,000-80,000-square-foot theater at The Bridges at Castle Hills, a master-planned community being developed in Lewisville by Bright Realty. The Castle Hills Cinetopia will be the first Cinetopia location in Texas and will offer 16-18 screens. The theater will include a restaurant, a wine bar with indoor and outdoor seating and conference rooms for business meetings.
OKLAHOMA CITY — Marcus & Millichap has provided financing for a Burger King restaurant in Oklahoma. Christopher Marks of Marcus & Millichap's Manhattan office arranged the $500,000 loan based on a 5-year term with a 20-year amortization schedule through a national bank.
ST. PETERSBURG, FLA. — CBRE has arranged the $2.9 million sale of the 67,050-square-foot Town Plaza, a shopping center located at 1846 62nd Ave. N. in St. Petersburg. Mark Shellabarger of CBRE's Tampa, Fla., office represented the undisclosed seller in the transaction. The buyer, a locally-based private investor, plans to renovate the center.
BOSTON — Invesco Real Estate Advisors has purchased a $128 million retail asset at 350 Washington St. in Boston. Located in Boston's Downtown Crossing shopping district, the building tenants include TJ Maxx, Marshalls, H&M and Town Sports International. Chris Angelone, Bill Moylan, Jim Koury, Nat Heald and Josh Klimkiewicz of CBRE's Boston office represented the seller, Real Estate Capital Partners. They also procured the buyer.
FORT WORTH — The Weitzman Group has arranged the sale of the 33,127-square-foot Basswood Crossing, a shopping center located at 7451 N. Beach St. in Fort Worth. Greg McDonald of The Weitzman Group's Dallas/Fort Worth office represented both the buyer, Dallas-based BasswoodBeach Crossing, Ltd., and the seller, Dallas-based Basswood Crossing Limited Partnership. The shopping center includes tenants such as CiCi's Pizza, O'Reilly Auto Parts, Great Clips and Paradise Tan.
LAKE WORTH — NorthMarq Capital has arranged $2.6 million in first mortgage financing for Staples and Applebees locations in Fort Worth. The two merchants occupy a combined 28,500 square feet of retail space. Ronald Reese of NorthMarq's Dallas office and Gary Cohen of the firm's north New Jersey office arranged the financing on a 10-year term with a 20-year amortization schedule through Symetra Life Insurance Co. on behalf of the borrower, Sachs Investing Co./Palin Enterprises.
SAN DIEGO – Independence Square Shopping Center in the Kearny Mesa submarket of San Diego has received $12 million for a refinance. The permanent financing was arranged by Newmark Realty Capital. The fixed-rate, non-recourse loan includes a 10-year term. The borrower was a private client and the lender was a national bank. Financing was arranged by James Dick, a vice president in Newmark’s San Diego office.
POMPANO BEACH AND LANTANA, FLA. — Stiles Realty has arranged the sale of two former City Furniture stores in two separate transactions. In Pompano Beach, Spring Holding purchased the 58,811-square-foot showroom, located at 1001 W. McNab Rd., for $3.52 million. CBRE represented the buyer. In Lantana, Lantana Holdings bought the 44,000-square-foot store, located at 1330 W. Lantana Rd., for $3.3 million. Stiles Realty represented Advanced Business Associates, the seller, in both transactions.
SCOTTSBORO, ALA. — Cassidy Turley has brokered the $2.86 million sale of the 60,000-square-foot County Park Plaza, located at 1402 County Park Rd. in Scottsboro. Aaron's Sales & Leasing and Food World anchor the center, which is currently 95 percent leased. Drew Fleming and Mark Joines of Cassidy Turley's Atlanta office represented RCG Ventures, the seller, in the transaction. The buyer was an Atlanta-based private equity group.