HOUSTON — NorthMarq Capital has arranged a $7.2 million loan for the 113,988-square-foot Jewelry Exchange Building in Houston. Ladder Capital Finance provided the debt. NorthMarq's Jim Adams secured the financing.
Retail
WESTMINSTER, COLO. — Marcus & Millichap has brokered the $14.5 million sale of the 118,673-square-foot Mission Commons Shopping Center located at 7615-7689 West 88th Ave. and 8895 Wadsworth Blvd. in Westminster. Anchored by a Sears’ outlet store, Bally Total Fitness and Big 5 Sports, the property comprises two inline strip buildings and a freestanding Long John Silver’s pad site. Marcus & Millichap’s Garrette Matlock and Jon Hendrickson represented the seller in the transaction.
GAINESVILLE, GA. — V&V Real Estate has sold a 123,948-square-foot Lowe's Home Improvement Center and 12.96 acres of land to a private buyer for $7.2 million. The property is located at 1514 Skelton Road in Gainesville. Tim Giambrone of Marcus and Millichap's Atlanta office brokered the sale.
CALIFORNIA — Developers Diversified Realty Corp. has sold three former Mervyn's locations in California — a 75,207-square-foot property at Southland Plaza Shopping Center in San Diego, an 88,223-square-foot property at Westfield Solano Shopping Center in Fairfield and a 79,808-square-foot location at Westfield Eastland Shopping Center in West Covina. Terms of the deals were not disclosed.
ORLANDO, FLA. — 129 West Church Street LLC has purchased the former Rosie O'Grady's restaurant in downtown Orlando from a private party for $2.2 million. The buyer will turn the 11,296-square-foot property, located at 129 West Church Street, into MoJo, a New Orleans-style restaurant. Jamie Barati of Colliers International Central Florida represented the buyer.
TEMPLE HILLS, MD. — A Florida-based party has sold a 32,065-square-foot former Circuit City building to Beauty 4 U for $2.1 million. The property was built in 1991 on a 6.31-acre lot at the intersection of Branch Avenue and Hillcrest Parkway in Temple Hills. Circuit City vacated the building in January 2009. Peter Snell of Marcus and Millichap represented the seller.
NEWINGTON, CONN. — Electronics retailer P.C. Richard & Son has acquired a former Circuit City retail store in Newington for $3.3 million. The 40,850-square-foot building is located at 3440 Berlin Turnpike. Kim Mowers of Grubb & Ellis negotiated the deal between P.C. Richard the seller, a private investor.
PFLUGERVILLE, TEXAS — Cinemark Theaters has leased 30,000 square feet from NewQuest Properties in the Stone Hill Town Center. The property is located at the intersection of SH130 and SH45 in Pflugerville. NewQuest's Steven Alvis and Jay Sears represented the tenant. The firm's David K. Meyers and Heather Nguyen represented the company internally.
OXNARD, CALIF. — Hagelis Group has completed the sale of the 171,000-square-foot Target Plaza located at 150-300 W. Esplanade Drive in Oxnard. Listed for $15.1 million and anchored by Target and Food 4 Less, the regional shopping center is situated directly across the street from the 550,000-square-foot Esplanade shopping center. Bill Hagelis of Hagelis Group represented both the undisclosed buyer and the seller, KIR Oxnard LP, in the all-cash transaction.
NORCROSS, GA. — A Tampa, Fla.-based lender has traded the 78,600-square-foot Plaza Azteca shopping center to Live Oak Plaza LLC for $3.2 million. The property is located at 1600 Live Oak Parkway in Norcross and is 45 percent occupied. Marcus & Millichap brokered the sale.