DALLAS AND HOUSTON — NorthMarq Capital has secured $25.75 million in financing for two Texas properties. In Dallas, Scott Frank of NorthMarq’s Dallas regional office arranged $19 million in construction/permanent financing for Sam Moon Center Alliance, a 165,400-square-foot retail property located within Hillwood’s Alliance Town Center mixed-use development. The loan carries a 15-year, fixed-rate term with interest-only payments during the construction period, and a 20-year amortization schedule thereafter. The borrower was undisclosed, and the lender was Prudential Mortgage Capital Co. In Houston, Greg Duvall of NorthMarq’s Kansas City regional office arranges $6.75 million in first-mortgage financing for Fountains of Westchase, a 287-unit multifamily property. Terms of the loan include a 7-year term with 2 years interest-only and a 30-year amortization schedule. The loan also contains a variable rate with an embedded cap provided by the lender, Freddie Mac. The borrower was ELP Simon.
ALLEN, TEXAS — Borders has opened a new location at Watters Creek in Allen. The new location represents the Texas debut of the chain’s concept store, and marks the 14th such store in the nation. The concept store features increased interactivity for customers, including a Digital Center where customers can create custom CDs, download books and music, publish their own books, and create photo books. Watters Creek is the 52-acre commercial heart of the 500-acre Montgomery Farm master-planned development.
MARICOPA, ARIZ. — Transition Investments LLC has acquired The Shops at Maricopa Fiesta, a retail center located in Maricopa, for $8.5 million or $353 per square foot. Tenants at the 24,036-square-foot center include Shasta Pools, Alltel Wireless, Arena Sports Grill and Brooklyn Boys Restaurant. Tim Dulany of Landmark TCN represented the buyer; Dean Ingram and Greg Abbott of Arizona Retail Advisors Inc. represented the seller, Cole Companies, in the transaction.
KISSIMMEE, FLA. — The $25 million, 103,000-square-foot Village Shops at Bellalago, located on Pleasant Hill Road in Kissimmee, has added a host of tenants. A 46,031-square-foot Publix and a Sonoma Coffee has opened, and McDonald’s, Walgreens, Fifth/Third Bank and Jazzy Nail Spa and Boutique will all open in the next few weeks. Leases for a hair salon, a sub sandwich shop, a chiropractor and a national pizza chain are still pending.
HOLLYWOOD, FLA. — Mark Gilbert, Adam Feinstein and Eric Williams of Cushman & Wakefield of Florida’s Miami office have represented Hollywood Palms in its sale of the 210,864-square-foot Hollywood Palms Shopping Center to an affiliate of Millbrook Acquisitions for $26.5 million. The property, which is located at the intersection of Taft Street and North 68th Avenue in Hollywood, underwent a renovation in 1999, and 20,000-square-feet of retail space was added last year. The plaza is anchored by Publix, Walgreens, Goodwill Industries, Bealls Outlet, Dollar General and Rent-A-Center.
WILLIAMSBURG, VA. — Williamsburg Marketcenter LLC has sold the 120,920-square-foot Williamsburg Marketcenter, which sits on 21.3 acres at 6610 Mooretown Rd. in Williamsburg, to Waitzwmc LLC for $23.78 million. The 2-year-old center is anchored by Ross Dress For Less and Petco. Jay Joseph and Clark Baldwin of GVA Advantis’ Newport News, Va., office represented the seller.
HAMMOND, IND. — Skokie, Ill.-based HSS Management Co. has sold Sohl Plaza, a 43,427-square-foot retail center located at the intersection of Douglas Street and Sohl Avenue in downtown Hammond. Tenants at the development include Family Dollar, First Choice Market and Quik Wash Laundry. Sohl Plaza had a listing price of $2.75 million. Michael Horne of HSS Management is the property manager and was the agent for the seller. Bruce Harris and Philip DeFrancesco in Marcus & Millichap’s Chicago office represented the seller, Sohl LP, an affiliate of HSS Management Co., in the transaction.
NORTH CONWAY, N.H. — Marcus & Millichap has arranged the sale of The North Conway Property, a 14,000-square-foot, net-leased drug store located in North Conway, for $6.3 million. Ben Sgambati, Michael Lombardi and Todd Tremblay, represented the seller; the buyer was secured and represented by Sgambati and Lombardi. Both parties were undisclosed. The property sold at a cap rate of 6.45 percent.
NEW YORK CITY — Brooklyn, New York City-based Kalmon Dolgin Affiliates (KDA) has completed the sale of a 14,000-square-foot shopping center located at 953 Cypress Ave. in the Ridgewood neighborhood of Queens, for $1.85 million. The two-story property contains 12,500 square feet of retail space on the first floor, and 1,500 square feet of office space on the second floor. The property currently contains a furniture store, a discount merchandise outlet and a money transfer business. Dmitri Gourianov of KDA represented the buyer, My Ridgewood Realty, and the seller, the Costarelli family. The purchase included 11,000 square feet of air rights for future development.
AUSTIN, TEXAS — A joint venture between L&B Realty Advisors and Barshop & Oles Co. had acquired Brodie Oaks Shopping Center, a 244,242-square-foot retail complex located at the corner of Loop 360 and South Lamar Boulevard in Austin. The shopping center is anchored by Neiman Marcus, Last Call and Sun Harvest Market. Additional tenants include Hobby Lobby, Toys ‘R Us, Tuesday Morning, Sally Beauty Supply, Starbucks Coffee, Olive Garden, Chili’s, Pei Wei Asian Diner and Fuddruckers. The property also contains office space. The Dallas office of Holliday Fenoglio Fowler marketed the property on behalf of the seller, Weingarten Realty Investors. L&B Realty Advisors acquired the property on behalf of investors in L&B Diversified Strategy Partners LP. The acquisition price was not disclosed.