WICHITA, KAN. — NorthMarq Capital has secured two loans for two Wichita retail properties totaling $14.6 million. First, Gary McGlynn of NorthMarq’s Washington, DC, office and Joseph Burke of the firm’s Baltimore office arranged $8 million in first-mortgage financing for Westgate Market. The 133,771-square-foot shopping center is fully leased to a tenant roster that includes Best Buy, TJ Maxx and Michael’s. The financing comprises a floating rate, interest-only loan based on a 3-year term with two 1-year extension options. The borrower was KIR Westgate Market LP and the lender was a life insurance company. In addition, McGlynn and Burke arranged $6.8 million in first-mortgage financing for Tall Grass Center. The 96,011-square-foot retail property is fully occupied by a tenant roster that includes Dick’s Sporting Goods and Gordmans. The loan carries the same terms as the one for Westgate Market. The borrower was KIR E Wichita LP and the lender was a life insurance company.
BUFFALO, N.Y. — The Upstate New York office of NorthMarq Capital has arranged $1.4 million in first-mortgage financing for a 14,550-square-foot Walgreens pharmacy located in Buffalo. Michael James of NorthMarq originated the loan on behalf of the undisclosed borrower through Sun Life Assurance Company of Canada. Terms of the loan were not disclosed.
DALLAS — The first retail stores are set to up at Park Lane, Dallas-based Harvest Partners’ $750 million mixed-use project current under construction in Dallas. On March 19, Nordstrom Rack will open a 36,000-square-foot location, followed by a 72,000-square-fooy Dick’s Sporting Goods and a 7,000-square-foot Lane Bryant/Cacique on April 3. Finally, a 20,000-square-foot The Children’s Place will open its doors on April 24. Park Lane will host the Dallas flagship locations for each of the retailers. Park Lane will celebrate its grand opening in the fall. Upon completion, the 33.5-acre project will contain 2.8 million square feet of retail, restaurants, entertainment, offices, hotels and housing.
SOUTH EL MONTE, CALIF. — Primestor Development is developing the third phase of Plaza Del Sol, a retail center in South El Monte. Located at Durfee Avenue and Thienes Street, the 168,291-square-foot center will be anchored by a Marshall’s. The center will feature Santa Barbara-style architecture. Completion is slated for this winter.
MISSION VIEJO, CALIF. — Scott Hook of Marcus & Millichap’s Newport Beach, Calif., represented the undisclosed buyer in the acquisition of three single-tenant buildings that are pad sites to Trabuco Hills Shopping Center. The properties sold for $14.4 million or $594 per square foot. The sites are located at 27785, 27845 and 27865 Santa Margarita Pkwy in Mission Viejo. Walgreens, Ramona Tire and Claim Jumper currently occupy the buildings. The seller was not disclosed.
CLERMONT, FLA. — Deerfield Beach, Fla.-based SIKON Construction Corp. is eyeing a May completion of a 110,000-square-foot BJ’s Wholesale Club in Clermont. The property is located at 2577 S. Highway 27. Syracuse, N.Y.-based Dalpos Architects designed the store.
JACKSONVILLE, FLA. — The Jamie Johnston Trust has sold a nine-unit, 10,000-square-foot shopping center to MGML for $1.1 million. The center is located at 6043 and 6055 St. Augustine Rd. in Jacksonville. The property, which has space for one tenant, has housed La Tienda Jewelry & Pawn and Hollis Barber Shop for more than 35 years. Henry Rogers of Coldwell Banker Commercial Benchmark’s Jacksonville office represented the seller, and the firm’s James Rose represented the buyer.
WYNCOTE, PA. — New York City-based Nassimi Realty has completed East Cedarbrook Plaza, an outlot expansion of Cedarbrook Plaza shopping center in Wyncote. The final component of the expansion, a 30,000-square-foot Ross Dress For Less, held its grand opening last week. The new location marks the 26th store for the apparel retailer in the greater Philadelphia market. Other tenants at East Cedarbrook Plaza include Old Country Buffet, Joyce Leslie, K&G Superstore, Payless Shoesouce, Cold Stone Creamery and Sprint Wireless. Cedarbrook Plaza is a 600,000-square-foot retail center located at the intersection of Cheltenham Avenue and Easton Road. It is anchored by Walmart, Pathmark and Toys ‘R Us.
YORK, PA. — Convenience store chain Sheetz has acquired a 2.44-acre land parcel located at the intersection of East Market Street and Stonewood Road in Springettsbury Township, York, for the construction of a new convenience store. Locally based ROCK Commercial Real Estate represented the undisclosed seller in the land transaction. The acquisition price also was not released. Sheetz currently operates more than 350 convenience store locations in six states.
DALLAS — Inland Western Retail Real Estate Trust has secured a $13.97 million loan for its 179,959-square-foot Preston Trail Village shopping center, located at 17194 Preston Rd. in Dallas. The Kroger-anchored center is 90.3 percent occupied by tenants including Bank of America, Dunkin’ Donuts and Hallmark Showcase. American Bank of Texas provided financing for the 3-year, fixed-rate loan. Kevin MacKenzie and Trey Morsbach of Holliday Fenoglio Fowler’s Dallas office arranged the loan.