SAN ANTONIO — Inland Western REIT has borrowed a $39 million loan from Nationwide Insurance Co. for the Huebner Oaks shopping center. The 287,000-square-foot property is located on 30 acres at 11745 Interstate 10 West in San Antonio. Huebner Oaks is 95 percent leased to tenants including Borders, Ross Dress for Less, Old Navy and Banana Republic. Kevin MacKenzie of Holliday Fenoglio Fowler secured the 5-year loan.
Retail
MANDEVILLE, LA. — Prudential Commercial Mortgage has funded a $20.3 million permanent loan for the 295,000-square-foot Premier Centre shopping center. The grocery-anchored property is located near U.S. Highway 190 and North Causeway Boulevard in Mandeville. Jeff Marshall of Stirling Properties closed the loan.
NEW YORK CITY — Forest City Enterprises has procured an $85 million loan for the refinancing of its 42nd Street entertainment retail property, which is located in the heart of Times Square. Tenants at the 312,000-square-foot property include AMC Theatres, Madame Tussaud's Wax Museum, Modell's, and Dave and Buster's. The loan carries a 10-year term and a fixed interest rate that is more than 325 basis points lower than the loan it replaces.
FRESNO — Investors of Golden Jubilee Group has purchased the 20,000-square-foot Teal Run Village Shopping Center from a private party for an undisclosed amount. The property is located at the corner of Highway 6 and Teal Bend Boulevard in Fresno. Huntington Properties' Philip Mullet and Sandy Aron represented the seller.
RICHMOND, VA. — AmCap Richmond has borrowed a $20.5 million acquisition loan for the 85,720-square-foot Short Pump Station shopping center. Aviva Investors funded the 10-year loan. Kevin Phelan and Jeffrey Black of Colliers Meredith & Grew arranged the financing.
BALTIMORE COUNTY, MD. — Grand Lodge of Maryland Independent Order of Oddfellows has purchased a 25,500-square-foot retail building from St. John Properties for $1 million. The property, which is located in the 160,000-square-foot North Point shopping center in Baltimore County, has formerly housed a roller rink, a bingo hall and a flea market. The tenant will occupy the building during the first quarter of next year after a renovation.
CLEVELAND — Developers Diversified Realty Corp. is adding and expanding retail offerings at Macedonia Commons, a 543,987-square-foot community shopping center in Cleveland. Walmart is expanding to a 167,000-square-foot facility, which will feature a full line of groceries; and rue21 is expanding to 4,900 square feet. Additionally, Hobby Lobby recently opened a 54,000-square-foot location at the center and Five Below opened an 8,000-square-foot store at the property. Also, Dots, an affordable woman’s clothing retailer, is expected to open a 5,000-square-foot store in early 2011. Current tenants of the 97 percent-leased center include Home Depot, Kohl’s, Cinemark, PetSmart and Champs Sports.
ARLINGTON — Hobby Town USA has opened a 15,000-square-foot store at Bardin Place Center in Arlington. The property, which is owned by Centro Properties Group, is located at the interchange of Interstate 20 and South Cooper Street. ESR Commercial's Rich Aries represented Hobby Town in the deal. Mike Watson served as in-house representation for Centro.
BLUE SPRINGS, MO. — Westchester, Ill.-based Tri-Land Properties has completed the disposition of its Blue Springs Market project to Hy-Vee Inc., a leading supermarket chain in the Midwest. Hy-Vee plans to retrofit the 84,146-square-foot building to fit its corporate floorplan. Kmart previously occupied the property. Terms of the transaction, which closed in late August, were not released.
COLLEYVILLE — Western Real Estate Equities has purchased a 56,434-square-foot retail building from a private buyer for an undisclosed price. Located at the intersection of Highway 26 and Glade Road in Colleyville, the property anchors Village at Colleyville and formerly housed an Albertsons grocery store. The Weitzman Group's Marc Marrocco and Guy Grivas represented the seller in the transaction. Huff Partners' Steve Harriman represented Western Real Estate Equities.