SAN CLEMENTE, CALIF. — Colliers International has presided over the $1.75 million trade of a 9,219-square-foot retail property located at 1011 – 1041 Avenida Pico in San Clemente. Built in 2005 and 50 percent occupied at the time of sale, the multi-tenant retail center is part of the 35,000-square-foot Courtyards at Talega, a community shopping center. Colliers International’s Ian Schroeder and Maurice Nieman represented both the buyer, SVN Equities, and the seller, JP Morgan Chase, in the transaction.
ORLANDO, FLA. — Bill Johnson of NorthMarq Capital's office in Boca Raton, Fla., arranged $35.65 million first mortgage financing for 233,637-square-foot Lake Buena Vista Factory Stores, located at 15553 & 15601 S. Apopka Vineland Rd. in Orlando, which includes stores like VF Factory Outlet, Nike, Reebok, Old Navy, Ann Taylor and more. Financing was based on a 10-year term with a 30-year amortization schedule. NorthMarq arranged for the borrowers through Goldman Sachs Commercial Mortgage Capital.
CHICAGO — Walmart has acquired a 13.5-acre shovel-ready land parcel on Chicago's South Side. The company plans to develop a 155,000-square-foot Walmart Supercenter at the site, which is located within Chatham Market shopping center on 83rd Street and South Holland Road. This location will be the first of six full-scale stores that Walmart plans to build in Chicago. Additionally, Walmart has leased an existing 10,000-square-foot building at Chatham Market for a Walmart Express store, a convenience grocery concept that will be the first of its kind in Chicago. Tom Kirschbraun, Meredith O'Connor and Edward Lewis of Jones Lang LaSalle represented the seller, Monroe Investment Partners, in the transaction. Terms of the sale and lease were not disclosed.
NEWARK, DEL. —Fashion retailer Nordstrom has opened its first Delaware location. The two-level, 120,000-square-foot store is located within Christiana Mall in Newark. Nordstrom currently operates 210 stores in 29 states.
SAUGUS, MASS. — Shops at Saugus, a new 87,500-square-foot neighborhood shopping center located in Saugus, has opened. Anchors at the property include Trader Joe's, PetSmart and La Z Boy Furniture Galleries. Additional tenants include Starbucks and Qdoba. The center also contains 30,000 square feet of inline retail space. Regency Centers owns the center. New York City-based CREATE Architecture Planning & Design was the project architect.
LISBON, CONN. — Dick's Sporting Goods has signed a lease for a new 40,000-square-foot store in Lisbon. The space is located within Lisbon Landing, a 560,000-square-foot, open-air shopping center. Other tenants at the center include The Home Depot, Kohl's, Walmart Supercenter and a 12-screen multiplex. WS Development is the property owner.
FRISCO — Costco Wholesale, an international chain of membership warehouses, will anchor the Frisco Trails Shopping Center in Frisco with a 148,000-square-foot store. Located at the southeast corner of the Dallas North Tollway and Eldorado Parkway, Frisco Trails Shopping Center is being developed by Cencor Realty Services. The center features a shadow anchor, The Home Depot, and space for an additional anchor, as well as six available pad sites for freestanding retail and restaurant uses. Costco Wholesale broke ground in early April at Frisco Trails, with a completion date set for late September. The shopping center is leased by Cencor's brokerage affiliate, The Weitzman Group.
HACKETTSTOWN, N.J. — David Cronheim Mortgage Corp. has arranged an $18.9 million loan for a Hackettstown shopping center. Mansfield Commons totals 271,979 square feet; its anchors include Walmart and Kohl's. The loan, which was arranged by Cronheim's Andrew Stewart and Lisa McMahon, carries an 11-year term. The borrower and lender were not disclosed.
HOUSTON — Westheimer at Wilcrest shopping center, located on the northeast corner of Westheimer and Wilcrest roads in Houston, has been sold to Westheimer Square, L.P. Philip Mullett and Sandy Aron of Hunington Properties, a full-service commercial brokerage company, represented the unlisted seller of the 21,459-square-foot retail property.
MARION, OHIO — Rural King has acquired 72,507 square feet of space on 10.9 acres at 233 America Blvd. in Marion. The Illinois-based farm-and-home store has 50 locations across the Midwest. Rural King offers products such as livestock feed, farm equipment, agricultural parts, lawn mowers, workwear, fashion clothing, housewares and toys. Bobby Benjamin of Goodman Real Estate Services Group represented Rural King in the transaction. Additional terms of the sale were not disclosed.