DEKALB, ILL. — Phillips Edison & Company's Fund IV has acquired Glidden Crossing Shopping Center in DeKalb. Located on Annie Glidden Road, the 99,091-square-foot retail center is anchored by a 58,000-square-foot Schnuck's supermarket. The property also features a 16,800-square-foot Goodwill and 23,000 square feet of retail space with several outparcels. Terms of the deal were not released.
CHICAGO — Locally owned Newcastle Limited has purchased a 14,800-square-foot retail center in the Bucktown retail corridor of Chicago. Located at 2500 W. North Ave., the property sold for $4.65 million. The single-story property is currently 100 percent leased to tenants, including O'Reilly Auto Parts, Charter One Bank, H&R Block, GameStop, Subway and Acceptance Insurance. Additionally, the property offers 30 parking spaces and easy access to public transportation. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the buyer and undisclosed seller in the transaction.
DEPTFORD, N.J. — Arrow Retail has procured a $34.02 million loan for the refinancing of a power center located in Deptford. Deptford Landing is a 490,910-square-foot property located at 2000 Clements Bridge Road. Completed in 2007, the center is anchored by Walmart, Sam's Wholesale Club, PetSmart, hhgregg and Michaels. Occupancy was 97 percent at the time of the closing. The financing carries a 10-year term and a fixed interest rate. Bank of America Merrill Lynch was the lender. Trey Morsbach of the Dallas office of Holliday Fenoglio Fowler arranged the loan.
SAN BERNARDINO, CALIF. — Faris Lee Investments has closed the $3.85 million sale of a 10,200-square-foot retail property, located at 4041 N. University Pkwy. in San Bernardino. Built in 2009, the property is situated just off Interstate 15 within a neighborhood shopping center. Faris Lee’s Jeff Conover represented the seller, Beverly Hills, Calif.-based Camden Holdings LLC, in the transaction, part of a 1033 exchange for the San Marino, Calif.-based buyer, Thompson Co., which was represented by Susan Harris of CAG. Davita Dialysis has a 15-year, absolute triple-net lease on the property with two 5-year extension options.
CLARKSVILLE AND FAIRVIEW, TENN. — Brentwood, Tenn.-based PGM Properties has broken ground for the construction of two retail projects in Tennessee. In Clarksville, the company is building a 54,817-square-foot Publix grocery store at Madison Street Commons. The store is scheduled to open in February 2012. In Fairview, PGM is developing Bowie Commons at Highway 100 and Chester Road. The project will include a 45,600-square-foot Publix, 14,400 square feet of retail space, a 6,400-square-foot outparcel building and four outparcel fronting Highway 100. The second phase of Bowie Commons will include 12,000 square feet of retail space. The first phase, including the Publix, is slated to open in March.
ERIE, PA. — Marcus & Millichap has brokered the sale of the Sheetz building, a 4,500-square-foot, net-leased retail building located in Erie. Situated at 4816 Buffalo Road, the property traded for $1.81 million. The team of Thomas Gorman, Matthew Gorman and Michael Shover of Marcus & Millichap's Philadelphia office represented the seller, a limited liability company. The team of Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap's Cleveland office represented the buyer, an undisclosed partnership.
AUSTIN — An Austin-based investor, represented by SRS Real Estate Partners, has purchased Austin's Westcreek Crossing Shopping Center from Dallas-based developer Crestview Real Estate. The 10,000-square-foot, Class A retail property was 100 percent occupied at the time of the transaction. It is located at 4220 W. William Cannon Dr.
SANTA CLARITA, CALIF. — Marcus & Millichap has presided over the $4.5 million sale of Do-it Center, a 45,400-square-foot retail property located in the Valencia area of Santa Clarita. The brokerage firm’s Lior Regenstreif and Brandon Michaels represented the buyer and seller, respectively. Both parties were private investors.
VESTAVIA HILLS, ALA. — Tampa, Fla.-based Arcis Investments has completed the disposition of Dolly Creek Station, a retail center in Vestavia Hills. Birmingham, Ala.-based The Barber Companies acquired the 25,200-square-foot center for $4.61 million. Located at 2409 Acton Road and built in 1997, the property was 100 percent leased to a variety of tenants, including Realty South, Richard's BBQ and Acton Road Pediatrics, at the time of closing. Mark Shellabarger of CB Richard Ellis represented the buyer; Dan Anderson of Birmingham-based Engel Realty represented the seller in the transaction.
ANDERSON, S.C. — A joint venture between Baltimore-based MCB Real Estate and Morristown, N.J.-based The Hampshire Company has acquired two adjoining single-tenant retail properties within North Hill Commons on Clemson Boulevard in Anderson. The two properties, which total 43,149 square feet, are occupied by Michaels and PetSmart. Mike Bukard, Chris Decoufle and Steve Shields of CB Richard Ellis brokered the transaction. Terms of the sale were not released.