SCOTTSDALE, ARIZ. — Coynes Construction and La Jolla, Calif.-based 6906 Chestnut LLC have acquired the retail portion of the 4020 Building, which is located at 4020 Scottsdale Rd. in downtown Scottsdale. The 7,090-square-foot space is located below a 21-unit loft building. The retail portion sold for $4 million or approximately $575 per square foot. The property is fully occupied by Bank of America, Ice Tango and Daily Dose Café. Carlos Lopez of Hanley Investment Urban Real Advisors represented the buyer and the seller, Santa Ana, Calif.-based 1st Avenue Scottsdale LLC, in the transaction.
ALBUQUERQUE, N.M. — Q10|Dwyer-Curlett has arranged a $12.6 million permanent loan for a 210,288-square-foot retail center in Albuquerque. The center is anchored by an 80,100-square-foot Pro’s Ranch Market, one of the leading Hispanic supermarket chains in the United States. Tom Kenny and Mark Durfee of Q10|Dwyer-Curlett’s Orange County, Calif., office secured the financing through UnumProvident.
WYLIE, TEXAS — Fort Worth, Texas-based NAI Huff Partners has arranged a lease in Wylie for a new restaurant. Curbis LLC has leased 1,936 square feet at First Wylie Shopping Center, located at 627 N. Highway 78, and plans to open a restaurant named Meteor Hamburgers. NAI’s Frank Jester represented Curbis LLC in lease negotiations. The landlord, Thomas Z. Hoffman, was represented by Brad Quine of Quine & Associates. Terms of the lease were not disclosed.
FORT WORTH, TEXAS — Mazur Capital has acquired a property located at 3017 Morton St. in Fort Worth for the future location of Capital Bar. The 0.3-acre property currently houses a 1950s-era building that was most recently used as a print shop. The building will be demolished to make way for a 2,600-square-foot bar. It will feature a modern-industrial lounge design with a 38-foot long bar, flat-screen televisions, exposed beam ceilings and a central staircase that leads up to a 1,500-square-foot covered, rooftop patio. The property will provide space for on-site parking, as well as the possible addition of an outdoor live music stage. Completion is scheduled for May. The project architect is locally based Barnes Architects.
MCCALLA, ALA. — DLC Management Corp. has purchased the 95,092-square-foot The Shoppes at Letson Farms from Centro Properties Group for $12.67 million. The property is located on 15.8 acres at 4750 Eastern Valley Rd. in McCalla. The center is 95 percent occupied by Food World, Movie Gallery, H&R Block, Subway and Curves. Whitney Knoll of Holliday Fenoglio Fowler’s Atlanta office and Brad Peterson and Justin Greider of the firm’s Coral Gables, Fla., office represented the seller.
FLORIDA — Palm Beach Gardens, Fla.-based Reichel Realty & Investments will manage and lease four Florida shopping centers owned by The Brown Trust of New York and California. Anchors at the centers, which total more than 560,000 square feet, include Winn Dixie, Publix, Blockbuster and Family Dollar. The properties are the 145,000-square-foot Forest Hill Center, located at 3139 Forest Hill Blvd. in West Palm Beach; the 165,000-square-foot Nassau Square, located at 7667 Lake Worth Rd. in West Palm Beach; the 142,000-square-foot Sandalfoot Plaza, located at 23100 Sandalfoot Plaza Dr. in Boca Raton, Fla.; and the 110,000-square-foot Oakbrook Square, located at 2602 N.E. 14th St. in Ocala, Fla.
ROCHESTER HILLS, MICH. — Birmingham, Mich.-based Robert B. Aikens & Associates has signed Aeropostale as the newest tenant in the development firm’s Village of Rochester Hills. The 3,600-square-foot store is expected to open in the summer, within the 357,000-square-foot lifestyle center located in Rochester Hills. The Village is Michigan’s first lifestyle center, and features additional tenants such as Parisian, Abercrombie & Fitch, Jos. A. Bank, J. Crew and Banana Republic.
LEOMINSTER, MASS. — Marcus & Millichap has arranged the sale of a newly constructed Walgreens pharmacy, located at 35 Central St. in Leominster, for $9.35 million. Bob Horvath and Todd Tremblay of Marcus & Millichap’s Boston office represented the buyer, a regional investor, as well as the seller, a regional developer. The property traded at a 6.36 percent capitalization rate.
LOCKPORT, ILL. — On behalf of TCB Development, METRO Commercial Real Estate has secured three tenants within Lockport Square at Farrell Road, which is located between a new Interstate 355 extension and downtown Lockport. Sonic has recently opened its fourth Chicago-area location in a freestanding drive thru building at the site. The new Sonic, which is located at 16031 S. Farrell Rd., is directly south of a Jewel-Osco and across the street from Aldi. Additionally, Vibe has opened within another freestanding drive thru building at the site. The smoothie and coffee shop is located directly south of Sonic at 16105 S. Farrell Rd. Finally, Play It Again Sports has signed a lease for 3,500 square feet of space within the center. Brent Wayburn and Nathan Tonnies of METRO Commercial Real Estate represented TCB Development in all three transactions. Existing tenants at Lockport Square include Chase Bank, GameStop, CiCi’s Pizza, Sherwin Williams and U.S. Cellular.
MANSFIELD, MASS. —Fantini & Gorga has arranged $8 million in construction and permanent financing for Mansfield Marketplace, a 23,840-square-foot retail center that is being developed by Hecht Development near Route 140 in Mansfield. Construction will comprise two freestanding buildings; tenants already signed on include AT&T, Sleepy’s and Chipotle Mexican Grill. John Gorga and Joe Eddy of Fantini & Gorga originated the loan with a regional bank. Terms of the financing were not disclosed.