LIGHTHOUSE POINT, FLA. — Steve Wood of Thomas D. Wood & Co.'s Coral Gables, Fla., office has arranged $8.1 million in financing for the 98,048-square-foot Shoppes at Beacon Light, located at 2450 N. Federal Hwy. in Lighthouse Point. The 10-year loan has a 25-year amortization schedule and was secured through Advantus Capital Management.
FREMONT, OHIO — Toledo, Ohio-based Tolson Investments has broken ground for the 21,000-square-foot Liberty Square II in Fremont. 75 percent of the space is pre-leased to national tenants and Wal-Mart will shadow anchor the center. Completion is slated for fall 2011. Pre-leasing has also begun for an expansion of the center, which will occur in 2012.
NAPERVILLE, ILL. — Marcus & Millichap has negotiated the $1.55 million sale of a 7,200-square-foot property net-leased to Davis Automotive that is located in Naperville. Michael Marks and Evan Halkias of the firm's Chicago office represented the seller and the buyer in the transaction.
HUNTINGTON, N.Y. — Toronto-based RioCan Holdings has purchased Huntington Square Plaza, a grocery-anchored shopping center in Huntington on Long Island, for $40.2 million. Stop & Shop anchors the 116,221-square-foot center, which is 100 percent leased by tenants including Best Buy. Oak Brook, Ill.-based Inland Private Capital Corp. and Jones Lang LaSalle’s Capital Markets facilitated the sale of the center.
AUSTIN — Regency Centers has leased a combined 15,000 square feet of retail space in Austin to six new tenants: Pure Barre has opened 1,750 square feet of retail space at North Hills Town Center, which brings the center to 100 percent occupancy. CommUnity Care has leased 4,000 square feet of office space in the Hancock Center and is scheduled for a November opening. Mr. Gatti’s Pizza has leased 2,373 square feet of space in the Hancock Center and is scheduled to open in October. T-Mobile has leased 2,060 square feet of retail space in the Hancock Center and is slated to open this month. Gamerz has leased 2,177 square feet of retail space in the Hancock Center and is scheduled to open this month. Hancock Center is now at 97 percent occupancy. Brush 32 Dental Wellness Center has leased 2,784 square feet of retail space at Market at Round Rock shopping center and is slated for a September opening.
MORRISVILLE, N.C. — Westwood Financial Corp. has purchased the 86,267-square-foot McCrimmon Corners, located at 4093 Davis Dr. in Morrisville, from Crosland for an undisclosed amount. The center is 99 percent leased to Harris Teeter, Tossed Salads, Taekwondo Academy, Nikos Taverna, Saffron Indian Food Restaurant, Two Guys Grille, Subway, AT&T, Great Clips, State Farm and Red Dragon. Rob Carter of Charlotte, N.C.-based Berkeley Capital Advisors represented the seller.
JACKSONVILLE, FLA. — Alison WIlliams of NorthMarq Capital's Tampa, Fla., office and Joel Coykendall of the firm's Jacksonville office have arranged $2.7 million in first mortgage financing for an 18,920-square-foot freestanding retail property located at 10207 Buckhead Branch Dr. in Jacksonville, which is entirely leased by CompUSA. Financing was based on a 10-year term with a 25-year amortization schedule and was arranged for the borrower, The Gate Group, through Protective LIfe Insurance Co.
SHELBY TOWNSHIP, MICH. — A 76,830-square-foot retail building containing a Christmas Tree Shops and buybuy BABY has been sold for $4.25 million. Daniel Kukes and Kevin Baker of Farmington Hills, Mich.-based Landmark Commercial Real Estate represented the buyer, and Ron Goldstone and Bill Bubmiak of Southfield, Mich.-based NAI Farbman represented the seller.
BRAINTREE, MASS. — Carpenter & Co. and Boston-based BayNorth Capital have broken ground on a redevelopment project in Braintree, Mass. The project will include a Hyatt Place Hotel and several retail stores. The site is located at 37 Forbes Road, where the former Sheraton Braintree stands. The development spans 10.2 acres and will house a new retail development comprised of a new 32,000-square-foot retail building, a restaurant and a 6,000-square-foot retail pad, currently under lease with Jared, The Galleria of Jewelry.
NEW YORK CITY — New York-based Time Equities Inc. has purchased 5,475 of retail space at The Cove Club in Battery Park City for $3.6 million. Tenants include Kumon Learning Center, North American Youth Ballet and South Cove French Cleaners. Hy Schermer and Chris Pulling represented Time Equities in-house and Nick Petkoff of Massey Knakal represented the seller. The Cove Club, a 157,585-square-foot residential building, is located at 2 South End Ave.