COSTA MESA, CALIF. — Renovation of the 300,000-square-foot South Coast Collection, a retail center consisting of eight showroom buildings, creative studios, general retail and food service located at 3303-3323 Hyland Ave. in Costa Mesa, has been completed. Branded as SoCo, the revamped property near Interstate 405 offers a wide variety of home furnishings and accessories, as well as many other specialty stores. Newport Beach, Calif.-based Burnham Ward Properties was the developer, Ware Malcomb of Irvine, Calif., was the project designer and Brea, Calif.-based KPRS Construction Services was the general contractor.
CLEBURNE — A 4,780-square-foot Applebee's restaurant, located at 216 W. Katherine P. Raines Rd. in Cleburne, has sold for $2.4 million. Philip Levy and Jason Vitorino of Marcus & Millichap's Fort Worth office represented the seller, a limited liability company, as well as the buyer, an individual trust.
ROCHESTER HILLS, MICH. — Emagine Theatres has opened a 47,884-square-foot location at Hampton Village Centre on Rochester Road in Rochester Hills. Alex Bieri of Detroit-based The Bieri Company and Brooke Wolf of Southfield, Mich.-based LaKritz Weber represented the tenant. Justine O'Brien provided in-house representation for the owner, Centro Properties Group, in the transaction. Terms of the lease were not released.
ATLANTA — Angelic Real Estate has closed the sale and leaseback of seven Aaron's retail locations, three in Texas, on behalf of a privately held institutional fund for $9.6 million. The properties were leased back to Aaron's for 15-year initial lease terms. Gabriel Silverstein and Louis D'Lando of Angelic Real Estate arranged the transaction directly with Atlanta-based Aaron's. The properties are located in Texas, Alabama, Ohio, North Carolina and Pennsylvania.
CARY, N.C. — NorthMarq Capital has arranged $12.6 million in first mortgage financing for Tryon Village in Cary. Located at 1151 Tryon Village Dr., the 103,775-square-foot retail center is occupied by Harris Teeter, Brueggers Bagels and Starbucks Coffee. Financing was based on a 25-year term with a 25-year amortization schedule. Todd Crouse of NorthMarq arranged the financing for the undisclosed borrower through NorthMarq's relationship with Genworth Financial.
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.