VICTORIA — Houston-based Baker Katz has executed a 18,710-square-foot lease with Gold's Gym Express for its first Victoria location in the Northcross Shopping Center at 5201 N. Navarro St. Other tenants in the Northcross development include Ashley's Furniture, Jason's Deli, Dollar Tree and GameStop. The fitness center is the second corporate owned Gold's Gym in the state — the other one is in Brownsville. Baker Katz's Jamie Weaver represented Gold's Gym, while Warren Houser of Centcom Realty Corp. represented the landlord in the transaction.
SAN DIEGO — A 2,982 square foot, single-tenant building in Downtown San Diego that is currently occupied by Jack in the Box has sold to an undisclosed buyer for $2,770,000. The sale was executed at a 5.49 percent cap rate. Jack in the Box also signed a new 20-year lease at the building, which is located at 1619 Pacific Highway, that includes four five-year options to renew. The buyer was represented by Peter Nisbet and Scott Morasch of Marcus & Millichap’s Seattle office. The seller was represented by Jack in the Box.
MARIETTA, GA. — CB Richard Ellis has brokered the $4.07 million sale of the 113,888-square-foot Piedmont Village, located at the intersection of Piedmont and Canton roads in Marietta. Aaron's and a Department of Motor Vehicles office anchor the center, which is currently 88 percent leased. Craig Taylor of CBRE's Atlanta office represented the seller, Kentucky-based First Southern National Bank. The buyer was Marietta-based Columbia Properties.
PINECREST, FLA. — Miami-based Aztec Group has secured $2.5 million in financing for the 32,665-square-foot Dadeland North Shopping Center, located at the corner of Southeast Dixie Highway and Ludlam Road in Pinecrest. Jason Shapiro and Kevin Miliffe arranged the 10-year loan through a local bank.
SHILLINGTON, PA. — New York City-based Katz Properties has acquired Kenhorst Plaza, a 162,000-square-foot shopping center at 1895 New Holland Rd. in Shillington, for $16.15 million. The shopping center is anchored by Redner's Warehouse Markets grocery store, and is currently 89 percent leased to tenants like Dollar Tree, Fashion Bug, General Nutrition Center, Dairy Queen, Susquehanna Bank, H&R Block, Sears and a U.S. Postal Service location. Paul Rumley of Metro Commercial represented Katz Properties and the selling partnership, and mortgage financing was arranged by Tim Breda of Goedeck & Co. through AIG. Winslow Property Management, an affiliate of Katz Properties, will provide leasing and property management services.
PORTLAND, MAINE — The Hampshire Companies has sold its 32,000-square-foot retail building, which it currently fully leased to Trader Joe's, at 87 Marginal Way in Portland. The buyer, American Realty Capital II, purchased the property, which previously housed Wild Oats Co. before its merger with Whole Food Corp. CB Richard Ellis' Chris Bosworth and Dan Greenstein represented The Hampshire Companies in the transaction.
SCHERTZ — NorthMarq Capital has arranged $5.15 million in first mortgage financing for the FM 3009 Shopping Center, a 40,483-square-foot retail center in Schertz. NorthMarq's William Luedemann and Lori Sowa arranged the financing on a 20-year term with a 20-year amortization schedule for the borrower, FM 3009 Horizon, LP, through NorthMarq's correspondent relationship with StanCorp Mortgage Investors LLC. The center is currently 91 percent occupied by tenants like Dollar Tree and MedCom. The financing is extended to the center's two ground-leased pad sites as well.
HOUSTON — Sage Plaza, a 25-story Class A building at 5151 San Felipe St. in Houston, has added several new tenants. CB Richard Ellis' Bonnie Kelley represented the landlord, a fund managed by New York City-based BlackRock in the recent leasing activity. The recent tenants to lease space in the 520,453-square-foot property include: PSC, LLC has leased 71,913 square feet, and Jim Bailey of Cushman & Wakefield represented them in the transaction. Epcot Electric has leased 10,008 square feet. DeGolyer & McNaughton Corp. has renewed its lease for 6,911 square feet, and John Beach with Jackson Cooksey represented them in the renewal negotiations. Newmark Knight Frank has renewed its lease for 6,677 square feet, and Brandi McDonald represented them in house. Ramex, Inc. has leased 2,233 square feet. Aerojet Holding, Inc. has renewed its lease for 2,109 square feet, and Justin Leighton of Studley represented them in the transaction. Black & Veatch Corp. leased 2,037 square feet, and Steve Beigel with Studley represented them in the transaction.
HIGHLAND VILLAGE — Regency Centers has leased retail space in its The Shops at Highland Village, a 352,000-square-foot mixed-use center in Highland Village, to two retailers. Delta Dental Insurance Co. has leased 10,678 square feet, while Addison June Baby Boutique has leased 2,419 square feet. Steven Wentz of Cushman & Wakefield represented Delta Dental in the transaction, and there was no broker in the Addison June transaction. Ryan Griffin, leasing agent with Regency, represented Regency in house. Other tenants in The Shops include Ann Taylor, Banana Republic, Bath & Body Works, Potbelly Sandwich Works, Barnes & Noble Booksellers and AMC 12 Theatre.
CATHEDRAL CITY, CALIF. — Marc Brutten, chairman and founder of Westcore Properties, has purchased the 72,756-square-foot Mission Plaza Shopping Center in Cathedral City for $3,174,000. The distressed retail center will be managed by Westcore Properties. It consists of one free-standing pad and one vacant pad, which are situated on 7.178 acres. Mission Plaza is currently 27 percent leased. Brutten, dba WH Mission Plaza, LLC, represented himself in this transaction. The seller, CW Capital, was represented by CBRE’s Maggie Montez.