WAUKESHA, WIS. — Patrick Minea in the Minneapolis regional office of NorthMarq Capital has arranged $8.9 million in financing for a retail center located in Waukesha. Terms of the loan for the 116,135-square-foot Silvernail Shopping Center were not disclosed. Financing was arranged for the borrower through NorthMarq’s relationship with The Prudential Insurance Company of America.
MORRISVILLE, VT. — Crosspoint Associates has acquired 80 Fairgrounds Plaza, a 46,844-square-foot retail property located in Morrisville, for $3.5 million. Situated on approximately 8.3 acres, the building was constructed in 2001. It is currently leased on a long-term basis by Hannaford Bros., one of the largest supermarket chains in the Northeast. Bill Moylan, Chris Angelone, Peter Stevens and Leslie Faraci of CBRE / New England represented the seller, LNR Property Corp., and procured Crosspoint Associates.
BUFORD, GA. — Colorado-based Plaza Mall North 08B Junior has purchased an 80 percent ownership in Phase I of the 96,960-square-foot Plaza Mall of Georgia from a local developer for $19.88 million. The property is located at the intersection of State Route 20 and Gravel Springs Road in Buford. Tenants include LA Fitness, Shogun Steak & Sushi and Bonefish Grill. Neal Pringle and Mark Cooley of Atlanta-based The Shopping Center Group represented the seller.
ROBBINS, N.C. — Sayerville Plaza Associates has purchased the 45,577-square-foot Robbins Town Centre from Greensboro, N.C.-based Robbins Centre LLC for $3.5 million. The Robbins property is anchored by Lowe’s Foods and Dollar General. Victor John of Columbia, S.C.-based NAI Avant brokered the sale.
MEREDITH, N.H. — Natick, Mass.-based Crosspoint Associates has completed the redevelopment of Meredith Bay Shops, a 70,000-square-foot shopping center located in Meredith. Crosspoint first acquired the property in 2007 and set about completing a more than $10 million revitalization and expansion of the property, which included a 30,000-square-foot Hannaford Supermarket, which now anchors the property. Other tenants include Olympia Sports, which recently opened a 4,200-square-foot location, as well as Rite Aid, BarnZ’s Cinema, Dockside Florist, Meredith Cleaners and Lake Region Nutrition.
NORWAY, MAINE —Marcus & Millichap has brokered the sale of a 14,700-square-foot Walgreens pharmacy located in Norway. The property is situated on 1.63 acres and was constructed in 2008. The transaction was negotiated by Bob Horvath and Todd Temblay of Marcus & Millichap’s Boston office, along with Mike Lombardi and Darren Griffith of the firm’s New Jersey office. The buyer was a New York-based investor and the seller was a regional developer. The property traded at a price of $5.3 million.
LYNNWOOD, WASH. — Regency Centers has completed the disposition of H-Mart grocery store location at Lynnwood H-Mart shopping center, which is located at 184th St. SW in Lynnwood. The 77,028-square-foot retail property sold for $14.9 million to local developer John Pietromonaco.
SAN DIEGO — Schlosser Properties has acquired a CVS/pharmacy property, which is located at 9225 Twin Trails Dr. in San Diego’s Rancho Peñasquitos area. Twin Trails LLC sold the 16,793-square-foot property for $6.2 million. Tom Schmidt and Geoff Parrish of Colliers Parish represented the buyer; Chuck Klein and Kevin Held of Grubb & Ellis|BRE Commercial represented the seller in the transaction.
FRANKFORT, KY. — Auto Zone has signed a retail ground lease worth $823,000 with New York-based Century Plaza Associates to move into space in the 134,000-square-foot Century Plaza. The shopping center, anchored by Big Lots and Dollar General, is located at 1127 U.S. Highway 127 South in Frankfort. Auto Zone may open as soon as this summer, moving in just in time for a planned center-wide renovation. Al Issac and Paul Ray Smith of Lexington-based NAI Issac Commercial Properties represented Century Plaza.
SOUTHFIELD, MICH. — Marcus & Millichap has brokered the sale of 663,000 square feet within Northland Center, a 1.7 million-square-foot enclosed mall located at 21500 Northwestern Highway in Southfield. New York City-based Ashkenazy Acquisition Corp. has purchased the space from Jenkintown, Penn.-based Jager Management Inc. for a sales price of approximately $30.99 million. The 120-acre mall is co-anchored by Macy’s and Target. The portion of the property that was acquired as part of the transaction did not include Macy’s or Target. At the time of closing, Northland Center was 70 percent occupied. Mark Taylor and Dean Zang in the Philadelphia office of Marcus & Millichap represented the seller and procured the buyer in the transaction.