SAN ANTONIO — Stephen Berchelmann and Chad Knibbe of Marcus & Millichap's San Antonio office have facilitated the sale of Marbach Plaza, a 105,974-square-foot grocery-anchored shopping center at the corner of West Military Drive and Marbach Road in San Antonio, on behalf of the seller, a limited liability company. A 32,400-square-foot La Fiesta Supermarket anchors the property, which was purchased by a private investor. Vincent Knipp of Marcus & Millichap's Fort Worth office secured the buyer.
BELTON — A 2,590-square-foot Pizza Hut has sold in Belton, 50 miles north of Austin. Brad Bailey and Chase Conway of Marcus & Millichap's Austin office represented the seller, a private investor, while J.J. Taughinbaugh of Marcus & Millichap's Palo Alto, Calif., office represented the buyer, also a private investor. Pizza Hut is located at Neil Street and Interstate 35.
CLEVELAND, TENN. — Baton Rouge, La.-based MD Ruston Properties, on behalf of a special servicer, has acquired Bradley Square Mall in Cleveland. The 406,845-square-foot regional shopping center is anchored by Belk, JCPenney, Sears and Kmart. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle's Atlanta office represented the seller in the transaction. The seller and acquisition price were not released.
YONKERS, N.Y. — Lord & Taylor will open its first new location in a decade within Westchester Ridge Hill, a 1.3 million-square-foot mixed-use project located in Yonkers. The fashion retailer will occupy 80,000 square feet and serve as one of the center's anchors. Forest City Enterprises is currently developing Westchester Ridge Hill. Tenants already signed on include Whole Foods, L.L. Bean, Cinema De Lux, REI and Dick's Sporting Goods.
MESQUITE —An 88,000-square-foot freestanding retail building in Mesquite, which is currently leased to Hobby Lobby and Mardel, has been sold to a New York-based investment group for an undisclosed price. A Dallas-based limited partnership sold the property, which fronts Galloway Road in Mesquite and sits just north of Highway 80. Gavin Kam of Net Realty Advisors and Brad Kam of TKG Property negotiated the transaction.
NEW YORK CITY — Beck Street Capital has disposed of an approximately 5,000-square-foot retail portfolio located in New York City for $34 million. The portfolio comprises six retail condominiums located in Manhattan's West Village at 367-369, 382-384 and 387 Bleecker St. At the time of closing, the portfolio was fully leased to a tenant roster that includes Burberry, Marc Jacobs, Michael Kors, Mulberry and A.P.C. Robert Knakal and James Nelson of Massey Knakal Realty Services represented Beck Street in the deal. The buyer's name was not released.
THE WOODLANDS — Houston-based Baker Katz has acquired the former Hollywood Video building at Grogan's Mill and Sawdust in The Woodlands. Baker Katz plans to renovate and expand the 7,500-square-foot building, and subdivide it and re-lease the spaces to individual tenants. Cathie Mann of Vista represented the seller, while Baker Katz was represented in house.
LAGUNA HILLS, CALIF. — NorthMarq Capital has arranged first-mortgage financing of $9.2 million for the 89,936-square-foot Courtyard At La Paz, located at 25232-25342 McIntyre Street in Laguna Hills. Financing for the retail property was based on a 5-year term with a 30-year amortization schedule and was arranged for the borrower, an Orange County-based private investment group, through a CMBS lender. Ory Schwartz of Minneapolis-based NorthMarq arranged the first-mortgage financing deal.
DAPHNE, ALA. — Coral Gables, Fla.-based American Real Estate Capital has closed on a $15.6 million loan for the acquisition of Jubilee Square in Daphne. The 340,000-square-foot is 90-percent leased by tenants, including Stein Mart, Rave Motion Pictures, TJ Maxx and Hobby Lobby. The property is managed by Blackwater Management. Additional terms of the financing were not released.
LINCOLNSHIRE, ILL. — An undisclosed buyer has acquired Village Green, a mixed-use commercial property located at the corner of Milwaukee Avenue and Half Day Road in Lincolnshire. The 121,000-square-foot property is 80 percent leased by a mix of tenants, including national and local retail, office, medical and restaurant tenants. Anchored by Flatlanders Brewery, the property sold for $12 million or approximately $100 per square foot. Jeff Baasch, Dan Elliot and Sean Lutz of Sperry Van Ness represented the buyer in the transaction.