HOUSTON — The Houston office of Holliday Fenoglio Fowler (HFF) has closed the sale of The Commons at Presidio Square, a 189,340-square-foot shopping center located at the intersection of Highway 6 and Bellaire Boulevard in Houston. The shopping center, which sits on 22.5 acres, is anchored by H-E-B and is currently 89.9 percent leased with major tenants such as RadioShack, IHOP and JPMorgan Chase. HFF's Rusty Tamlyn and Trent Agnew lead the investment sales team on behalf of the seller, Camden Securities. Canadian-based North American Development Group purchased the property and assumed the in-place financing.
CRYSTAL LAKE AND AURORA, ILL. — Marc Rubin of Zifkin Realty Group represented Monkey Joes, a children's entertainment center, in two lease transactions. The company leased 15,122 square feet at Crystal Lake Shopping Center in Crystal Lake and 16,360 square feet at Yorkshire Plaza in Aurora. Scott Tucker of Kimco Realty represented the undisclosed landlord in both transactions.
MARLBOROUGH, MASS. — The Capital Markets group of Colliers Meredith & Grew has arranged a $9 million loan for the refinancing of Post Road Plaza in Marlborough. The 209,657-square-foot shopping center is located at 246 E. Main St. It is 98 percent leased to a tenant roster that includes Marshalls, CVS/pharmacy, Price Chopper and Ocean State Job Lot. John Broderick of Colliers represented the borrower, Karnak Realty. The loan carries a 20-year term and a fixed interest rate. The lender is Aviva Investors, a subsidiary of Aviva plc.
LEE, N.H. — Fantini & Gorga has arranged $3.36 million in permanent financing for a Walgreen's pharmacy located at 91 Calef Highway in Lee. The lender in the deal was aMassachusetts banking institution. The borrower was Calef Highway Lee LLC.
HOUSTON — Marcus & Millichap Real Estate Investment Services has sold Long Point Shopping Center, a 41,731-square-foot retail property in Houston. Located at 7922 Long Point Road, the property consists of a KFC/Taco Bell and three freestanding retail buildings. Chris Maling of Marcus & Millichap's Los Angeles office and Todd A. Carlson of the firm's Houston office had the exclusive listing to the property on behalf of the seller, a California-based private investor. The buyer, a Texas-based private investor, was secured by Carlson.
HOUSTON — Tuscon, Ariz.-based Pima Medical Institute (PMI) has leased 42,297 square feet of space within Katy Freeway Retail Center I, located at 10201 Katy Freeway in Houston, for a new campus facility slated to open in September. PMI is a private, family-owned, accredited medical school with 13 campuses throughout New Mexico, Arizona, Colorado, Washington, Nevada and California. James Wachholz of UGL Equis's Denver office worked with William Wolff of the firm's Houston office to secure the lease.
AUSTIN, TEXAS — Cole Real Estate Investments has acquired Sunset Valley Homestead, a 147,841-square-foot power center in Austin. Anchor tenants include PetSmart, Babies “R” Us, DSW Shoe Warehouse and ULTA Beauty. The center is located 6 miles from downtown Austin, and is in close proximity to the University of Texas.
MARCO ISLAND, FLA. — Ariyan LLC has acquired a 6,000-square-foot property in Marco Island. Located at 551 Collier Blvd., the property sold for $1 million. The sellers were Dennis and Marilyn Downes. Doris Taylor of CB Richard Ellis’ Fort Myers/Naples, Fla., office brokered the transaction.
PRATTVILLE, ALA. — Marcus & Millichap has completed the disposition and sale of a retail property in Prattville. Located at the corner of Cobb’s Ford Road and Legend’s Parkway, the 3,388-square-foot property sold for $1.46 million. The property is currently occupied by AT&T Wireless. Alvin Mansour, Phil Sambazis and Edwin Greenhalgh of Marcus & Millichap represented the seller in the transaction; Andrew Chason and Matt Fitzgerald, also of Marcus & Millichap, represented the Florida-based buyer.
DES PERES, MO. — St. Louis-based Pinnacle Contracting Inc. is managing the renovation and upgrade of a former grocery store property into Des Peres Centre in Des Peres. Located on Manchester Road, the 58,000-square-foot former Schnucks grocery store building is receiving a new façade, a new roof and new site utilities. Kuhlmann Design Group is providing architectural services for the project, which is owned by The DESCO Group.