SOUTHLAKE, TEXAS — Inland Western REIT has secured $9.2 million in financing for the acquisition of Block 22 of Southlake Town Square, located in the Dallas/Fort Worth suburb of Southlake. Block 22 is a 35,436-square-foot retail property situated on approximately 4 acres at 1256 Main St. It was 96 percent leased at the time of closing to a tenant roster that includes Charles Schwab, FedEx Office and AT&T. Block 22 is the most recent expansion of the 807,000-square-foot Southlake Town Square mixed-use development. Kevin MacKenzie with the Dallas office of Holliday Fenoglio Fowler (HFF) arranged the financing on behalf of Inland through American Bank of Texas. Last month, HFF also originated a $13.97 million loan between the lender and the borrower for Preston Trail Village, a retail property located in Dallas’ Far North submarket.
SAGINAW, TEXAS — Jonni Investment Co. has acquired a 10,500-square-foot neighborhood retail center located at the intersection of Saginaw Boulevard and Cambridge Drive in Saginaw. The property is occupied by tenants such as Subway, Little Caesars Pizza, MetroPCS and Access Dental. Eddie Liebman of The Weitzman Group handled negotiations between the seller, Saginaw Investments, and the buyer. The acquisition price was not disclosed.
SANTA ANA, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of Home Place, a multi-tenant retail strip center in Santa Ana. Located at 1935 E. 17th St., the property sold for $4.32 million or $532 per square foot. The 8,116-square-foot center is tenanted by Union Bank, Cantaloop Yogurt, Ritz Nails and Dorazio Learning Center. James Kwon of Coldwell Banker Best Realty represented the buyer, Oh Family Trust; Carlos Lopez of Hanley Investment Group represented the seller, HPSC II LLC, an entity of Red Mountain Retail Group, in the transaction.
LAS VEGAS — Las Vegas-based Danoski Clutts Building Group has completed construction of shell buildings for the Desert Marketplace, which is located on the southeast corner of Durango and Warm Springs in Las Vegas. The second phase of the project included two shell buildings totaling 95,000 square feet. Construction on the third building is currently underway. The $5 million project is currently anchored by Big 5, PetCo and TJ Maxx/HomeGoods.
WINDER AND LOGANVILLE, GA. — Charlotte, N.C.-based Faison Enterprises has opened the 550,000-square-foot first phase of the Barrow Crossing shopping center in Winder and the 350,000-square-foot North Logan Commons in Loganville. Barrow Crossing, which is spread across 60 acres on Highway 316, is 86 percent leased. Tenants in the power center include Target, Belk, Publix, PetSmart, Staples, McDonald’s, Great Clips, Lee Nails and Stevi B’s Pizza. Located on U.S. Highway 78, North Logan Commons is anchored by Lowe’s Home Improvement Warehouse. Additional tenants in the 37-acre development include Best Buy, Dick’s Clothing and Sporting Goods, OfficeMax, PetSmart, Dollar Tree and Five Guys Burgers and Fries. The center is 87 percent occupied.
COCONUT CREEK, FLA. — Orlando, Fla.-based Keene Construction Co. has completed the 99,208-square-foot Caligo Crossing shopping center for the developer Regency Centers. The property, which is located on State Road 7 in Coconut Creek, is anchored by an 88,408-square-foot Kohl’s. Additional tenants include a 4,200-square-foot Mattress Firm, a 2,362-square-foot Tijuana Flats Burrito and a 1,400-square-foot Stormann’s Coffee. Tulsa, Okla.-based Scott & Goble Architects designed the Kohl’s, and Clearwater, Fla.-based Fisher & Associates designed the additional retail space.
CINCINNATI — The 1.5 million-square-foot shopping mall previously known as Cincinnati Mills has been acquired by a group of investors led by Whichard Real Estate, and the name has been changed to Cincinnati Mall. The new ownership group, which also serves as the property asset manager, acquired the mall from Simon Property Group at the end of 2008. Cincinnati Mall is anchored by Bass Pro Shops, Kohl’s, Burlington Coat Factory, Babies ‘R’ Us, Off 5th Saks Fifth Avenue Outlet and two multi-screen cinemas. The mall, which is located in the northern suburbs of Fairfield and Forest Park, Ohio, is the largest in the Cincinnati area.
ROCKVILLE, IND. — The Luttner Retail Group of Cleveland-based NAI Daus, in conjunction with NAI Olympia Partners of Indianapolis, has facilitated the sale of a CVS/pharmacy in Rockville. The freestanding, 12,900-square-foot store commanded a 6.75 percent capitalization rate in the sale between the undisclosed parties. Mark Luttner of NAI Daus was the exclusive listing broker to market the property for sale on behalf of a private developer.
BEDMINSTER, N.J. — Three new tenants have opened at The Hills Village Center, a 109,800-square-foot shopping center located on Route 206 in Bedminster. Pedigree Pet Supplies has opened at 4,184-square-foot location, Somerset Valley Urgent Care has opened at 3,892-square-foot location, and Big East Wireless has opened a 1,000-square-foot location. Other tenants to recently open at the center include Starbucks Coffee, Yamamomo Japanese Restaurant, Cold Stone Creamery and Beadluxe. The center is anchored by a Kings supermarket. Dale Mulartrick of Levin Management Corp., the leasing and management agent for the property, negotiated each of the transactions. The Hills Village Center is the retail component of The Hills, a 5,200-residence, master-planned community.
PHOENIX — DAUM Commercial Real Estate represented Rosenthal Family Trust in the acquisition of a 21,000-square-foot retail building, which is located at 1726 W. Camelback Rd. in Phoenix. The single-tenant property sold for $2.89 million. Jeff Demorest of DAUM’s Newport Beach, Calif., office represented the buyer; Jeff Conover of Faris Lee represented the undisclosed seller in the transaction.