DALLAS — NorthMarq Capital has arranged a $4 million loan for the 50,964-square-foot Lakewood Village shopping center in Dallas. Tenants at the property include IHOP and Sherwin Williams. Sun Life of Canada financed the 5-year loan, which carries a 20-year amortization schedule.
BURKE, VA. — Walker & Dunlop has secured a $36.5 million loan for the 167,642-square-foot Burke Centre shopping center. The Burke property, which is 99 percent leased, houses 46 tenants and is anchored by Safeway and CVS/pharmacy. Nationwide Life Insurance Co. financed the 10-year loan, which carries a 30-year amortization schedule.
ALPHARETTA AND MARIETTA, GA. — Strategic Storage Trust has purchased two self-storage properties in the Atlanta area from Storage Partners of Alpharetta and Storage Partners of Powers Ferry Road for $9.6 million. The Alpharetta property, located at 11640 Jones Bridge Road, spans 76,500 square feet and includes 670 units. The 500-unit Marietta property is located at 2035 Powers Ferry Road.
BROCKTON, MASS., AND PHILADELPHIA — Marcus & Millichap has brokered the sales of two retail properties for a total of $2.9 million. The first transaction involved the $1.72 million sale of a Dollar Tree located at 999 N. Montello St. in Brockton. Dollar Tree is leasing the 8,500-square-foot building for a 10-year term. Robert Horvath and Todd Tremblay of Marcus & Millichap represented the seller, Keefe Montello Street LLC. Adam Mancinone and Blake Barbarisi of Marcus & Millichap's New Haven, Conn., office represented the buyer, Phoenix Property Management. The second deal involved the sale of a McDonald's ground lease in Philadelphia for $1.18 million. The restaurant is an outparcel to Lindbergh Plaza and is operating in the location under a lease with 16 years remaining. Dean Zang and Mark Taylor of Marcus & Millichap's Philadelphia office represented the seller, Lindbergh Development Associates, and procured the buyer, Island Avenue Heights Associates.
PFLUGERVILLE AND ROSENBERG, TEXAS — NewQuest Properties has leased more than 50,000 square feet of retail space in two Texas transactions. Represented by Heather Nguyen and Cullen Kappler, NewQuest leased 35,510 square feet to Panda Express. The space is located at the Stone Hill Town Center in Pflugerville. Site Source Real Estate Services' Lauren Banner represented the tenant. NewQuest, represented by Eric Walker and Anderson Smith, also leased 18,000 square feet to Goodwill. The property is located at Brazos Town Center in Rosenberg. Goodwill was represented by Barkley Wedemeyer of Wedemeyer
WESTON, FLA. — Marcus & Millichap represented a private seller in the $2.92 million sale of SunTrust Crossing to an undisclosed buyer. The 6,400-square-foot shopping strip is located at 2575 Glades Circle in Weston. Michael Zimmerman of the firm's Fort Lauderdale, Fla., office represented the seller.
MIDLOTHIAN, VA. — Village Mill Land Investments has sold a 1.35-acre 7-Eleven ground lease to a New York-based investor for $1.92 million. 7-Eleven has 17 years remaining on its lease of the property, which is located at 13866 Village Place Drive in Midlothian. Eric Robison and Austin Newman of Thalhimer brokered the sale.
INDIANAPOLIS — The New York-based department store Shoppers World has opened a new store location at Felbram Plaza North in Indianapolis. The 85,000-square-foot store brings the retail center’s occupancy rate to 95 percent. Other tenants at the 185,589-square-foot center include Dollar Tree, Payless Shoes, GameStop, Fantastic Sams, MCL Restaurant, Firestone Tires, CiCi’s Pizza, Radio Shack and GNC. The center is owned by Nassimi Realty.
CANANDAIGUA, N.Y. — Sperry Van Ness (SVN) has brokered the sale of the Tops Supermarket in Canandaigua for $8.75 million. The 57,498-square-foot building was constructed in 2002 and sits on 11 acres at 5150 North St. Joseph French and Tom Dalzell of SVN's White Plains, N.Y., office represented the seller, Salt Lake City-based Phillips Edison & Co., as well as the buyer, a New York City-based private investor.
NEW YORK CITY — Marcus & Millichap has completed the sale of a retail building located at 407 Park Ave. in New York City for $8.7 million. The two-story building includes 29,450 square feet of air rights. Upscale men's clothing story Stefano Ricci occupies the entire building. Adelaide Polsinelli and Steve Siegel of Marcus & Millichap's Manhattan office represented the seller, 407 Park LLC. Glen Kunofsky and James Ventura, also of Marcus & Millichap, represented the buyer, Land Finance Corp.