ELKHART, IND. — Begley Motors Group has acquired the former Linville Olds-Cadillac dealership, which is located at 1201 N. Nappanee St. in Elkhart. The company plans to relocate its Elkhart office to the new 23,750-square-foot facility, with a grand opening scheduled for early May. The property offers more than 17,000 square feet of bay and parts space and 6,750 square feet of office and showroom space. John Letherman of FM Stone Commercial negotiated the transaction. The seller and acquisition price were not disclosed.
Retail
UNIONVILLE, CONN. — Ed Graf and Ted Sannella of Houlihan-Parnes Realtors have arranged first mortgage refinancing of $5.6 million for The River Edge Shopping Center, located at 45 S. Main St. in Unionville. The 2.23-acre shopping center consists of a two-story retail and office building containing 51,628 square feet. Houlihan-Parnes is a real estate investment company based in White Plains, N.Y.
THE WOODLANDS — Valero has purchased a 1.9-acre site at the southwest corner of Research Forest and Six Pines drives in The Woodlands for construction of a 5,000-square-foot Valero Service Station, Corner Store, Taco Plus eatery and car wash that will be completed later this year. The Woodlands is a 28,000-acre, master-planned community located 27 miles north of downtown Houston. Todd Edmonds and Cody Christoph of Colliers International represented the The Woodlands Development Company in the land sale.
PARKER, COLO. — Goldman Sachs Mortgage Co. has sold a 1,392-square-foot retail building, located at 10502 South Parker Road in Parker, to Dandt LLC. Terms of the deal were not disclosed. Jason Schmidt of Cassidy Turley Fuller Real Estate represented the seller in the transaction.
ROGERS, ARK. — Marcus & Millichap has brokered the sale of a net-leased Burger King in Rogers. Located at 500 S. Eighth St., the 3,621-square-foot facility sold for $1.58 million. John Edward Brigel, Ron Schultz and CJ Cooper of Marcus & Milichap represented the undisclosed seller in the transaction. The buyer was not released.
WEST VIRGINIA — Scott DeVinney of NorthMarq Capital's Upstate New York Regional office arranged $13.3 million in first mortgage financing for The Crossings Shopping Center in West Virginia. The 200,000-square-foot retail center is occupied by a variety of tenants, including Kmart and Kroger. Financing was based on a 10-year term and a 25-year amortization schedule. The loan was arranged for the borrower through NorthMarq's relationship with American National.
UNIONVILLE, CONN. — Houlihan-Parnes Realtors has secured a $5.6 million first mortgage for the refinancing of The River Edge Shopping Center in Unionville. The 51,628-square-foot retail and office property is located at 45 S. Main Street. Its tenant roster includes CVS/pharmacy, Verizon Wireless, People's Choice Pizza and Quest Diagnostics. The loan carries a 5-year term with a 5.25 percent fixed interest rate and a 30-year amortization schedule. Ed Graf and Ted Sannella of Houlihan-Parnes arranged the deal on behalf of the undisclosed borrower. The lender's name also was not released.
SAN DIEGO — Voit Real Estate Services has completed the $6.7 million sale of the 55,761-square-foot Rancho Serra Mesa Shopping Center, located on 4.69 acres at 3202 – 3304 Greyling Drive and 3332 Sandrock Drive in the Serra Mesa submarket of San Diego. Anchored by a CVS/pharmacy, the property was sold through San Diego-based Douglas Wilson Cos., the receiver, to Beverly Hills-based Omninet Capital LLC. Voit’s Mark Caston, Tony O’Neill and Kendrick Askew represented the seller in the transaction.
COLUMBIA, MD. — Columbia Gateway Plaza LLC has acquired The Shoppes at Gateway Plaza, a 24,000-square-foot retail center situated within the 630-acre Columbia Gateway Business Community at 7185 Columbia Gateway Dr. in Columbia. Sanford Gateway LLC, an affiliate of Stanford Properties, sold the center for $3.5 million or $148 per square foot. The center is currently 87 percent leased to a mixture of restaurants and business service amenities, including The Columbia Bank. Rick Porter of Goldstone Realty represented the buyer; Gil Neuman of KLNB Retail Investment Sales represented the seller in the transaction.
LINCOLN, NEB. — Q10 | Daisley Ruff Financial has arranged a $1.03 million loan for an owner-occupant automotive retail and service store in Lincoln. The undisclosed borrower was able to lock a permanent rate prior to construction start, proceed through construction and convert to the permanent loan once the property was complete. Roger Porter of Q10 | Daisley Ruff secured the financing.