DENTON, TEXAS — Appliance and electronics retailer Conn's has leased 30,281 square feet of retail space at The Shops at Colorado in Denton. Situated at the corner of Loop 288 and Colorado Boulevard, the space was previously occupied by Circuit City. The location marks Conn's first in Denton, and it is scheduled to open by early November. The retailer will join a tenant roster that includes Staples and Party City. Earl Harris and Blake Shipp of The Weitzman Group represented the landlord in lease negotiations. Conn's was represented by Jennifer Frank of The Woodmont Company. Terms of the lease were not disclosed.
Retail
AVON, OHIO — Phase I construction is nearing completion for City Center of Avon, a 100,000-square-foot retail project located in Avon. As part of the first phase, which is slated to open this fall, Sport Clips has signed a lease for space at the center. Phase II will include a 46,000-square-foot Marc's store that will anchor the center as well as 7,000 square feet of adjacent space. Phase III will include a 12,000-square-foot building that will be partly occupied by Vitamin Shoppe. Completion for Phase III of the project is scheduled for summer 2010. In addition, a Huntington Bank branch is under construction in an outlot location. Goodman Real Estate Services is providing lease services for the project.
MAMARONECK, N.Y. — Houlihan-Parnes Realtors has arranged the acquisition of The Post Road Center, a 16,000-square-foot retail strip center located in Mamaroneck. Constructed in 1966, the center is located at 587-621 E. Boston Post Rd. It is occupied by 13 tenants, including Circle Swim Shop, Edible Arrangements, Mamaroneck Flowers, Post Restaurant and Pizza Gourmet. Jim Coleman of Houlihan-Parnes arranged the deal. The buyer, an undisclosed party participating in a 1031 exchange, plans to complete upgrades to the property. The seller was not disclosed.
RICHMOND, VA. — Two former Circuit City locations in Richmond have been leased to hhgregg by undisclosed landlords. The tenant will move into a 43,505-square-foot store in the Chesterfield Towne Center, which is located on Huguenot Road. hhgregg will also occupy 34,575 square feet of space at Short Pump Town Center, which is located on West Broad Street. David Smith of Thalhimer’s Richmond office represented hhgregg.
OXON HILL AND LAUREL, MD. — Bill Libercci of NorthMarq Capital’s Baltimore office has arranged $4.3 million in financing for two self-storage facilities. An 811-unit U-Store property in Oxon Hill received $2.2 million, and a 777-unit store in Laurel received $2.1 million. Advantus Capital Management funded the loans.
ALEXANDRIA AND LEESVILLE, LA. — Dallas-based Paul Darden Co. has acquired a four-property self-self storage portfolio from a private seller for an undisclosed amount. The buildings, which total 163,000 square feet and encompass 1,500 storage units, are located in Alexandria and Leesville. Together, the properties are more than 90 percent occupied. Jerry Rhodes, an associate of Paul Darden Co., represented the seller. Acquisition financing was arranged by Dana Deason of Longview, Texas-based Deason Financial Group.
TAYLORSVILLE, KY. — Carter Realty has purchased the 36,150-square-foot Settler’s Center retail development from an undisclosed party for $2 million. The property is spread across 5.46 acres of land on Settlers Center Road in Taylorsville. John Hoagland and John Rulketter of Louisville, Ky.-based Hoagland Commercial Realtors represented the buyer.
GLEN ELLYN, ILL. — The Chicago and New Jersey offices of Holliday Fenoglio Fowler (HFF) have arranged a $12.5 million loan for the refinancing of Baker Hill Shopping Center in Glen Ellyn. The property totals 135,355 square feet and is situated at 830 Roosevelt Rd. It is anchored by Dominick's Finer Foods and was 93 percent occupied at the time of the closing. HFF's Jim Cadranell and Matthew Schoenfeldt arranged the loan on behalf of Columbia Retail Baker Hill, a joint venture managed by Regency Centers. The loan, which carries a 5-year term and a fixed interest rate, was provided by Ladder Capital Finance.
WATERTOWN, N.Y. — Jones Lang LaSalle (JLL) has brokered the sale of Arsenal Plaza shopping center in Watertown for $17.75 million. The property consists of four buildings totaling 215,648 square feet that are situated on 25 acres at 1283 Arsenal St. Grocery chain Price Chopper anchors the center; other tenants include T.J. Maxx, Staples, Dollar Tree, Michaels and Applebee's. Occupancy was 97 percent at the time of closing. JLL's Jim Koury, Nathaniel Heald and Robert Borden represented the seller, Arsenal Street Associates LP, and procured the buyer, Arsenal Plaza Associates LLC, an affiliate of Nigro Cos. The buyer plans to upgrade the center with new paint and landscaping, and Price Chopper will undergo minor interior renovations.
ORANGE, CALIF. — Tustin Court has been purchased for $1.5 million, which represents a 6.49 percent cap rate and 97 percent of the asking price. Located at 1171 N. Tustin St. in Orange, the property offers inline retail space. Paul Bitonti and Brenton Baskin of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was not disclosed.