BOSTON — Boston-based Fantini & Gorga has arranged $23.75 million in first-mortgage financing for a CVS/pharmacy portfolio. The portfolio consists of 10 retail pharmacies located in 10 states across the country. Some of the properties are situated in strong suburban locations in major metropolitan markets such as Atlanta, Chicago, Dallas, Detroit and Phoenix. Keith Wentzel of Fantini & Gorga arranged the loan on behalf of the undisclosed borrower through one of the intermediary's national life insurance correspondents. Terms of the financing were not released.
MIDDLETOWN, CONN. — NorthMarq Capital has secured $3.3 million first-mortgage construction/permanent financing for a new 14,820-square-foot Walgreens located at the intersection of Main Street Extension and Saybrook Road in Middletown. The financing includes a 12-month construction loan followed by a 6-year permanent loan with a 30-year amortization schedule. Ernest DesRochers and Deanna Polizzo of NorthMarq's New York Metro Regional office arranged the loan on behalf of the borrower, Sound Middleton LLC. The lender was an undisclosed regional bank.
ATLANTA — Vince Hughes of Q10|iCap’s Atlanta office has arranged a $4.47 million loan for a retail refinance project. The 33,550-square-foot property is located in the Virginia-Highland neighborhood in Atlanta. The 9-year loan carries a 6.25 percent interest rate and a 25-year amortization schedule. A life insurance company provided funding for the loan.
FULTON, MD. — Calkain Cos. has brokered the $8.2 million sale of two triple-net-leased retail buildings between two undisclosed parties. The properties, a SunTrust Bank and an M&T Bank, are located in the Maple Law mixed-use development in Fulton. Rick Fernandez and Jeff Bogart of Calkain brokered the sale.
PHILLIPS EDISON & CO. COMPLETES $27 MILLION FINANCE DEAL FAIRFIELD TOWNSHIP, OHIO — Phillips Edison & Co. has completed a $27 million secured loan, which was collateralized by the regional shopping center Bridgewater Falls. Located in Fairfield Township, the 600,000-square-foot retail center is anchored by Target, JC Penney and Dick’s Sporting Goods. Phillips Edison & Co.’s Strategic Investment Fund acquired the property for $44 million in early October. The 4-year loan was provided by US Bank, N.A.
CITY OF INDUSTRY, CALIF. — For its first U.S. location, family entertainment center Round One has leased 59,000 square feet at Puente Hills Mall in City of Industry. Robert K. Futterman & Associates’ David Friedman represented Round One in the transaction.
LUMBERTON, TEXAS — Hunington Properties has brokered the sale of a CVS/pharmacy located in Lumberton. The 11,945-square-foot building is situated on a 62,421-square-foot land parcel at 10 South LHS Dr. Sandy Aron of Hunington Properties represented the seller, Old Westheimer Pharmacy, Ltd. Wu 1979 Trust, a California-based family trust, purchased the pharmacy for an undisclosed amount.
KANSAS CITY, MO. — Ingredient is opening two new restaurant locations in the Kansas City. The first location, which opened in October, is located at in Town Pavilion at 12th & Main Street. The 5,600-square-foot restaurant occupies the former Mango Room space on the first floor of the 34-story office and retail complex. The second location, which is slated to open in mid-January 2010, will be located at 4807 Jefferson St. within the Country Club Plaza. The 5,034-square-foot property is currently under construction. Ingredient is a fast-casual restaurant serving customizable salads, brick-oven pizzas, sandwiches, wraps and fresh soups.
NEPTUNE BEACH, FLA. — Regency Centers will break ground next month on the 74,000-square-foot Seminole Shoppes development in Neptune Beach. The property will be located at the intersection of Atlantic Boulevard and Seminole Road. Seminole Shoppes will be anchored by a 54,000-square-foot Publix, which will deliver next year.
LOWELL, MASS. — Jones Lang LaSalle (JLL) has arranged the sale of a Lowe's Home Improvement Warehouse currently under construction in Lowell. The store will total 153,000 square feet and will be situated on Chelmsford Street next to the Cross Point office complex. The store opening is scheduled for April 2010. Jim Koury, Nathaniel Heald and Brandon Dickason of JLL represented the seller, National Development, and procured the buyer, Tanglewood Investors.