NORTH PALM BEACH, FLA. — Urban Realty Partners has acquired the 20,770-square-foot Enterprise National Bank Building from an undisclosed seller for $4 million. The building is located at 11811 U.S. Highway 1 in North Palm Beach and is occupied by Enterprise National Bank and a Melting Pot restaurant. Scott O’Donnell and Dominic Montazemi of CB Richard Ellis’ Boca Raton, Fla., office represented the seller.
MINNETONKA, MINN. – Welsh Capital has secured a loan of $2.75 million for Corner Shoppes, a retail center in Maplewood, Minn. The center is a 16,582-square-foot multi-tenant location, and the financing for the property was provided by local commercial banks.
TIVERTON, R.I. — EagleBridge Capital has arranged $5.4 million in acquisition and permanent mortgage financing for CVS Plaza located at 500 Main Rd. in Tiverton. A new free-standing 13,500-square-foot CVS pharmacy is slated to be constructed on the site, and a retail strip currently located on the site will be fully renovated. The existing retail strip contains 5,000 square feet of space and is being redeveloped for multi-tenant use. Ted Sidel and Brian Sheehan of EagleBridge arranged the financing, which was provided by a multi-state commercial bank. Zachary Darrow, Esq., of DarrowEverett, represented the borrower in negotiating the lease with CVS and at the loan closing.
HAWTHORNE, N.J. – Anna McGivaren and Andrew Stewart of David Cronheim Mortgage have arranged $15 million in permanent financing for Hawthorne Discount Plaza, a retail center located at 111 Wagaraw Rd. in Hawthorne. Hawthorne Discount Plaza is set on 7.7 acres and consists of a 110,285-square-foot retail center anchored by Value Village. Other notable tenants include CVS, Dollar Tree, Ace Hardware, Payless Shoe Source and Mandee's. The loan has a 10-year term and a 30-year amortization.
ATLANTA — An affiliate of Greensboro, N.C.-based Bell Partners has sold the 82,097-square-foot Park Place retail center to Coro Realty Advisors for $28.5 million. The property is located across the street from Perimeter Mall at 4505 Ashford-Dunwoody Rd. in Atlanta. Tenants include Talbot’s, Jared Galleria of Jewelry, Alon’s Bakery and McKendrick’s Steakhouse. Chris Decoufle and Kevin Reavey of CB Richard Ellis’ Atlanta office and Casey Rosen of the firm’s Miami office brokered the transaction.
MIAMI — Orlando, Fla.-based Keene Construction Co. has broken ground on the 74,031-square-foot Eureka Promenade shopping center for Orlando-based Brandon Structures. The property, located at the intersection of S.W. 184th St. and S.W. 147th Ave. in Miami, will be anchored by a 46,031-square-foot Publix. The project, which was designed by Coral Gables, Fla.-based Alleguez Architecture, is set to deliver in December.
COLUMBIA, MD. — DB Cardinal Mac has sold a 7,500-square-foot Romano’s Macaroni Grill to an undisclosed buyer for $2.6 million. The free-standing restaurant was built in 1998 and is located at 6181 Columbia Crossing Circle in Columbia. Gil Neuman and Todd Evans of Towson, Md.-based NAI KLNB brokered the sale.
GAHANNA, OHIO — Simon Jonna of Marcus & Millichap’s Southfield, Mich., office has arranged the sale of a CVS/pharmacy in Gahanna for $3.3 million. The store, which is located in the Columbus, Ohio, metro area, is a CVS prototype that was built in 2006 and has more than 20 years remaining on the lease term. Jonna represented the sellers and coordinated the loan assumption approval that was necessary to complete the transaction.
NEW CASTLE, DEL. — Patterson-Woods Commercial Properties/CORFAC International has arranged a lease for a 10,800-square-foot warehouse, located at 4060 N. DuPont Highway in New Castle. The building will be occupied by Thunder Stix Baseball & Softball Academy, which plans to operate it as a baseball and softball training facility. It will feature four automated batting cages and four training tunnels. Greg Ellis of Patterson-Woods represented the tenant in lease negotiations. Paul Bryant and Tripp Way of Emory Hill Real Estate Services represented the undisclosed landlord.
FORT WORTH, TEXAS — Dallas-based RM Crowe has signed five leases at Ridglea Shopping Center, a 112,000-square-foot retail property located at 6040 Camp Bowie Blvd. in Fort Worth. French bistro and bakery La Madeline has renewed its lease for 4,910 square feet. The tenant was represented by Kim Jordan-Miller of Staubach Retail. Other leases include J. Clint Robertson renewing its lease for 848 square feet; New South Federal Savings Bank renewing its lease for 400 square feet; Dee Dee Herring signing a new lease for 316 square feet; and Maureen Nichol renewing its lease for 204 square feet. Matt Waldon and Kirby Cone provided in-house representation in each of the transactions for RM Crowe, the owner of Ridglea Shopping Center.
