BALTIMORE — Big Lots has signed a lease with Inland Western Retail Real Estate Trust to occupy 35,000 square feet of space at the 796,733-square-foot Reisterstown Road Plaza in Baltimore. The Home Depot, Marshalls, Burlington Coat Factory, Shopper's World and Giant Foods anchor the center.
NORTHBROOK, ILL. — Westwood Financial Corp. has purchased the 136,219-square-foot Sanders Court Shopping Center, located at 4109-4195 Dundee Rd. in Northbrook, from Sandee, LLC, for $22 million. Dominick's anchors the center, which is 99 percent leased to Goodwill, USA Vein Clinics, Fitness 19, Fred Astaire Dance Studio, Butterfield's, Century 21, Sally Beauty, State Farm Insurance, United Self Defense and Subway. Joe Girardi of Mid-America Real Estate Corp. represented the seller.
DALLAS — Agree Realty Corp. has acquired a retail property net leased to National Tire & Battery (NTB) in Dallas for $2.77 million. The base term of NTB’s lease is 25 years. The store opened in May 2011.
OKLAHOMA CITY — CBL & Associates Properties, Inc. and Horizon Group Properties Inc. have announced The Outlet Shoppes at Oklahoma City will open on Friday. The center is fully leased with 83 stores and is located at the intersection of Interstate 40 and Council Road. The center is the only outlet center in Oklahoma and features a food court, play area for children, center stage with fountains and an additional parcel of land that can house 60,000 square feet of retail space. The center’s tenants include Nike, Banana Republic, J. Crew and Levi’s.
STERLING, COLO. – NorthMarq’s Denver regional office has arranged $1,133,000 in permanent financing for the 39,868-square-foot Applewood Shopping Center in Sterling. Situated on 4.17 acres, the property was built in 1976 and underwent a renovation in 2008. NorthMarq’s John M. Stewart, senior vice president, and Brock Yaffe, senior investment analyst, arranged the financing for the borrower.
RICHMOND, VA. — Oxbridge Retail has sold the 127,801-square-foot Oxbridge Square, located at 1001 Hull St. in Richmond, to Louisiana-based PMAT Acquisition for $12.5 million. Martins Supermarket anchors the center, which is currently 79 percent leased. Michael Cleeman of New York-based Cohen & Co. represented the buyer in the transaction.
HAILEAH, FLA. — Howard Taft and Charles Penan of Coconut Grove, Fla.-based Aztec Group has arranged $3 million in financing for a ground lease of a Walgreens located at 1155 W. 68th St. in Haileah. Symetra Life Insurance Co. provided the 20-year, self-amortizing loan.
NAPERVILLE, ILL. — A 50,000-square-foot Gordmans has opened at the 457,156-square-foot Westridge Court in Naperville. The retailer operates 72 stores in 16 Midwestern and surrounding states. Allan Murow of Omaha, Neb.-based Noddle Co. represented the tenant in the lease transaction.
PHILADELPHIA — Pennsylvania Real Estate Investment Trust (PREIT) has announced that JC Penney, Nordstrom Rack, Bravo Cucina Italiana and Forever 21 will join The Cheesecake Factory to occupy 190,000 square feet of space formerly occupied by Strawbridge’s at Willow Grove Park in Philadelphia. The JC Penney will occupy 114,000 square feet on the first and second levels and is set to open in fall 2012; Nordstrom Rack will occupy 41,000 square feet on the third level and is expected to open in spring 2012; Bravo Cucina Italiana will occupy 7,500 square feet on the third floor and is slated for a fall 2011 opening; and the two-story Forever 21 will occupy 17,000 square feet at its new location. Willow Grove is comprised of 1.2 million square feet and its tenants include Bloomingdale’s, Coach, J. Crew, Jos. A. Bank and Sonoma.
DALLAS and PLANO — John T. Evans Co. has negotiated Coffee House Café’s purchase and Duke’s Original Roadhouse’s lease. Coffee House has purchased a 5,000-square-foot building at 6150 Frankford Rd. in Dallas. John T. Evans’ Mike Sandel and Paul Vernon negotiated the transaction. Duke’s has leased 6,400 square feet of space at 3314 N. Central Expressway in Plano. John T. Evans’ Vernon, Sandel and Taylor Roberts negotiated the transaction.