HICKSVILLE, N.Y. — Keith Braddish, Jason Gaccione and Rayna Karaivanov of CBRE Capital Markets in New York City along with Bruce Nelson of the CBRE Private Client Group in Woodbury have completed a $7.3 million fixed-rate first mortgage to refinance the existing senior debt on Woodbury Shopping Center. The retail center is located at 404-442 South Oyster Bay Rd. in Hicksville. The 69,174-square-foot neighborhood shopping center is anchored by credit-rated Staples, T.J. Maxx and Walgreens. Other in-line tenants include Bagel Boss of Hicksville, Sneaker Circle, Nu American Cleaners and Woodbury Kosher Meats. The center will also be the future home of Bank of Smithtown. The non-recourse loan, funded by a regional bank, was structured with a 7-year term on a 30-year amortization schedule at a fixed interest rate of 6.5 percent.
HICKSVILLE, N.Y. — Keith Braddish, Jason Gaccione and Rayna Karaivanov of CBRE Capital Markets in New York City along with Bruce Nelson of the CBRE Private Client Group in Woodbury have completed a $7.3 million fixed-rate first mortgage to refinance the existing senior debt on Woodbury Shopping Center. The retail center is located at 404-442 South Oyster Bay Rd. in Hicksville. The 69,174-square-foot neighborhood shopping center is anchored by credit-rated Staples, T.J. Maxx and Walgreens. Other in-line tenants include Bagel Boss of Hicksville, Sneaker Circle, Nu American Cleaners and Woodbury Kosher Meats. The center will also be the future home of Bank of Smithtown. The non-recourse loan, funded by a regional bank, was structured with a 7-year term on a 30-year amortization schedule at a fixed interest rate of 6.5 percent.
SAN FERNANDO, CALIF. — An undisclosed limited liability company has purchased a Pep Boys Auto location in a $3.9 million sale/leaseback transaction. The 20,800-square-foot retail property is located in San Fernando. Lior Regenstreif of Marcus & Millichap represented the buyer and the seller, Corporate Pep Boys, in the transaction.
LIVONIA, MICH. — Livonia Phoenix LLC, an entity consisting of Grand/Sakwa Properties, Lormax Stern Development and Konover South, is developing Livonia Marketplace, a new 40-acre retail center located at the corner of 7 Mile Road and Middlebelt in Livonia. The Wal-Mart Supercenter-anchored center will offer 325,000 square feet of retail space. Groundbreaking is scheduled for late August, with completion expected within 12 to 18 months.
BROOME COUNTY, N.Y. — Sunbury, Pa.-based Weis Markets has purchased 11 Giant Markets stores in Broome County, including locations in Johnson City, Endwell, Endicott, Vestal and Binghamton. All 11 stores were closed for conversion and are set to reopen Tuesday, August 25 at 7 a.m. A grand opening will be held on August 30, and five of the locations will convert to 24-hour schedules.
MILTON, VT. — Jamaica, Vt.-based Jamaica Cottage Shop has partnered with newly developed Vermont Eco Cottage to open its newest display/retail yard at 530 Route 7 South in Milton. The retail outlet will feature Jamaica Cottage Shop’s original designs for outdoor sheds, including garden sheds, storage sheds, potting solutions, firewood storage, chicken coops, camping and hunting cabin retreats. The display area will house building examples that can be ordered as pre-cut shed kits or fully assembled buildings. Jamaica Cottage Shop supports local landowners, foresters, loggers and sawmills by using native Vermont hemlock and pine lumber.
NORTH RICHLAND HILLS, TEXAS — Austin, Texas-based Phase I Builders has completed the initial phase of NAI Huff Partners and Lancewood Corp.’s renovation of the 144,216-square-foot The Shoppes at Crown Point. The first phase consists of a 33,496-square-foot building and a 13,400-square-foot building; tenants include Frijoles Mexican Restaurant, Hunan Wok Chinese Restaurant and Rufe Snow Travel. The property, located at the intersection of Loop 820 and Rufe Snow Drive in North Richland Hills, was formerly known as Crossroads Village Shopping Center. Dallas-based TGS Architects designed the space. Officials will break ground on the second phase on September 1.
ATASCADERO, CALIF. — Brandon Michaels of Marcus & Millichap represented a private investor in the purchase of a Denny’s restaurant location in Atascadero for $1.22 million. Michaels also represented the undisclosed seller in the transaction.
FORT MYERS, FLA. — Ron Schultz of Marcus & Millichap’s Tampa, Fla., office has brokered the sale of a Wachovia-Wells Fargo building between two undisclosed parties for $1.75 million. The 6,245-square-foot property is located at 11801 Palm Beach Blvd. in Fort Myers.
COLUMBIA CITY, IND. — Evan Halkias and Michael Marks of Marcus & Millichap’s Chicago office represented a national development company in the disposition of a 14,820-square-foot retail property in Columbus City. Located at 535 N. Line St., the property sold for $3.8 million. The building is occupied by Walgreens, which has 70 years remaining on its 75-year lease. The buyer was not disclosed.