TAMPA, FLA. — Kite Realty Group Trust has acquired the 81,000-square-foot Lithia Crossings in Tampa for $13.25 million in an off-market transaction. Stein Mart anchors the center, which is 95.5 percent leased.
TUSCALOOSA, ALA., ROSWELL, GA. & GULFPORT, MISS. —Michaels has awarded West Palm Beach, Fla.-based Kennedy Contractors three contracts to retrofit stores in Tuscaloosa, Roswell and Gulfport. Construction on all three sites will begin on July 1 with completion scheduled for fall of this year.
PORT CHARLOTTE, FLA. — Marcus & Millichap has arranged the sale of the 352-unit All Store Self Storage, located at 7001 Gasparilla Rd. in Port Charlotte, for $1.75 million. Michael Mele and Adam Wides of the firm's Tampa office represented the seller, a Washington, D.C.-based institutional owner, and procured the California-based buyer.
LOS ANGELES — The Cypress Retail Group, a partner of X Team International, has completed a lease for the first full-service 24 Hour Fitness SuperSport in North Hollywood, Calif. The lease is valued at $11 million. The 33,000-square-foot space resides within the NoHo Commons shopping center. The SuperSport is anticipated to open July 23. X Team International partner Robert Walsh represented the tenant. The landlord was represented by Eric Reuveni of Los Angeles Real Estate Group.
PARKER, COLO. — Westwood Financial Corp. has acquired the 6,336-square-foot Stroh Ranch Retail Center in Parker. The asset was purchased in a short sale. The acquisition is in line with Westwood's goal of purchasing about $100 million-worth of small, distressed strip centers. The property contains two units, the smaller of which is vacant.
MT. DORA, FLA. — Scott DeVinney of Northmarq's Rochester, N.Y., office has secured a 5-year, $2.12 million first-mortgage financing with a 25-year amortization schedule for the 73,000-square-foot Mt. Dora Plaza in Mt. Dora. Insight Credit Union provided financing.
AVON, IND. — Northbrook, Ill.-based The Boulder Group has brokered the sale of a 56,100-square-foot retail building located in the Indianapolis suburb of Avon for $5.75 million. Recently developed, the property, which is situated at 212 Gable Crossing Drive, is leased on a long-term basis to Hobby Lobby. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a private company, as well as the buyer, an institutional investment firm.
BRONX, N.Y. — Houlihan-Parnes Realtors, LLC, represented by Mike O'Neill, and headquartered in White Plains, N.Y., announced the placement of an 8,600-square-foot Rite Aid Pharmacy, located at 41-51 West Fordham Rd. The 5-year, $3.3 million first mortgage was closed with a local bank.
FORT COLLINS, COLO. –— Big Time Trampoline Fun Center has signed a lease to occupy 26,744 square feet in the Arvada Marketplace East shopping center in Arvada, CO. Since NewMark Merrill purchased the shopping center in 2010, Arvada's vacancy rate has dropped from 56 percent to 38 percent. The grand opening for the Big Time Trampoline Fun Center, which features trampolines, obstacle courses, mazes and more, is scheduled for July 2011.
LOS ANGELES — Marcus & Millichap Capital Corporation has arranged a $6,050,000 refinancing loan for a Los Angeles shopping center. The 10-year fixed debt includes a 30-year amortization period and was provided by a CMBS lender. In addition to retail, the property also features 85 multifamily units, which were not included in the loan. Financing was arranged by Rick Padilla, a senior director in Marcus & Millichap’s Long Beach office.