TAYLORSVILLE, KY. — Carter Realty has purchased the 36,150-square-foot Settler’s Center retail development from an undisclosed party for $2 million. The property is spread across 5.46 acres of land on Settlers Center Road in Taylorsville. John Hoagland and John Rulketter of Louisville, Ky.-based Hoagland Commercial Realtors represented the buyer.
Retail
GLEN ELLYN, ILL. — The Chicago and New Jersey offices of Holliday Fenoglio Fowler (HFF) have arranged a $12.5 million loan for the refinancing of Baker Hill Shopping Center in Glen Ellyn. The property totals 135,355 square feet and is situated at 830 Roosevelt Rd. It is anchored by Dominick's Finer Foods and was 93 percent occupied at the time of the closing. HFF's Jim Cadranell and Matthew Schoenfeldt arranged the loan on behalf of Columbia Retail Baker Hill, a joint venture managed by Regency Centers. The loan, which carries a 5-year term and a fixed interest rate, was provided by Ladder Capital Finance.
WATERTOWN, N.Y. — Jones Lang LaSalle (JLL) has brokered the sale of Arsenal Plaza shopping center in Watertown for $17.75 million. The property consists of four buildings totaling 215,648 square feet that are situated on 25 acres at 1283 Arsenal St. Grocery chain Price Chopper anchors the center; other tenants include T.J. Maxx, Staples, Dollar Tree, Michaels and Applebee's. Occupancy was 97 percent at the time of closing. JLL's Jim Koury, Nathaniel Heald and Robert Borden represented the seller, Arsenal Street Associates LP, and procured the buyer, Arsenal Plaza Associates LLC, an affiliate of Nigro Cos. The buyer plans to upgrade the center with new paint and landscaping, and Price Chopper will undergo minor interior renovations.
ORANGE, CALIF. — Tustin Court has been purchased for $1.5 million, which represents a 6.49 percent cap rate and 97 percent of the asking price. Located at 1171 N. Tustin St. in Orange, the property offers inline retail space. Paul Bitonti and Brenton Baskin of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was not disclosed.
LAWRENCEVILLE, GA. — Beachwood, Ohio-based Developers Diversified Realty Corp. and Chicago-based Prudential Real Estate Investors have sold the 89,064-square-foot Five Forks Village shopping center to Norcross, Ga.-based Safeway Group for an undisclosed amount. The center, which will be redeveloped, is located at 850 Dogwood Rd. in Lawrenceville. Robert Mahoney of CB Richard Ellis’ Chicago office represented the seller. Phil Ryan of Norcross-based Lavista Associates represented Safeway.
NEW YORK CITY — Massey Knakal Realty Service has completed the sale of a single-story, 1,800-square-foot retail building located in Brooklyn, New York City. The building is situated at 2117 86th St. within the borough's Bensonhurst neighborhood. It is occupied by Tango, a local clothing retailer. Massey Knakal's Jeffrey Shalom arranged the deal. Both parties were undisclosed.
BELLFLOWER, CALIF. — Kevin Fryman and Eric Wohl of Hanley Investment Group Real Estate Advisors represented the undisclosed seller in the disposition of Alondra Plaza, a 9,171-square-foot retail strip center in Bellflower. Located at 9345-9361 Alondra Blvd., the property sold for $1.97 million, which represents a 7.37 percent cap rate. The property, which was built in 1979, was 100 percent occupied at the time of acquisition. Current tenants include Advance America and Domino’s Pizza.
AUSTIN AND TEMPLE, TEXAS — Five Guys Burgers & Fries has signed leases to open two new restaurants in Texas. The first is a 2,851-square-foot restaurant located within The Arboretum in Austin, and the second is a 2,500-square-foot restaurant located within Bird Creek Crossing in Temple. Mike Minicucci and Robert O'Farrell of SRS Real Estate Partners represented Five Guys in lease negotiations. Five Guys currently has five locations in Central Texas. In the past year, SRS has helped the company sign leases for locations in San Antonio, Austin and Harker Heights, Texas.
TITUSVILLE, FLA. — Titusville, Fla.-based SBI Leasing has purchased a 10,811-square-foot restaurant from Palo Alto, Calif.-based Sovereign Investment Co. for $1.1 million. The building, which was formerly a Whistle Junction restaurant, is located at 3125 Columbia Blvd. in Titusville. Paul Partyka of NAI Realvest’s Maitland, Fla., office represented the seller.
SOUTH HACKENSACK, N.J. — NAI James E. Hanson has brokered the sale of two retail properties located in South Hackensack for more than $2 million. The first property, located at 460 Route 46 West, consists f a 12,500-square-foot, freestanding building that is currently leased to Syntec Technical School. NAI's Anthony Cassano represented the buyer, Dr. Robert Yang. The second property, located adjacent to the first at 480 Route 46 West, is a 5,000-square-foot, freestanding building currently leased to Marcone Appliance Parts. Cassano represented the buyer, David Haziza. Cassano also represented The Estate of Hans Wertheimer, the seller in both transactions.