WAXAHACHIE, TEXAS — Marcus & Millichap has arranged the sale of The Marketplace at Waxahachie, a 100,044-square-foot shopping center located at 791 N. Highway 77 in Waxahachie. Situated on 11.4 acres, the building is anchored by Bealls, Hastings, Dollar Tree and Sleep Experts. Additional tenants include Cotton Patch Café and Double Dave’s Pizza. Samueal Herskovits and Gavin Kam of Marcus & Millichap’s Dallas office represented the undisclosed seller. The buyer also was not disclosed.
Retail
FORT WORTH, TEXAS — Dallas-based Henry S. Miller Commercial (HSMC) has brokered the sale of a 29,200-square-foot retail property located at 821-825 W. Vickery Blvd. in Fort Worth. The property was acquired by Stage West Theatre dba Allied Theatre Group. The theatre company previously had occupied 9,000 square feet within 821 W. Vickery Blvd. more than 20 years ago. Stage West Theatre will renovate the theater seating and dining area of the new property, now that it has control over the whole building. HSMC represented the Fort Worth-based seller, Marshall Robinson. The acquisition price was not disclosed.
RANCHO BERNARDO, CALIF. — CBRE Capital Markets has arranged a $62.5 million loan for Regency Centers for 4S Commons Town Center in Rancho Bernardo. Situated at the corner of Rancho Bernardo and Dove Canyon roads, the 265,609-square-foot Class A shopping center is anchored by Ralphs and Bed Bath & Beyond. The center is currently 99.5 percent occupied. The 9-year, interest-only permanent financing was provided by Allianz of America. Wayne Paulus of CBRE Capital Markets’ San Diego office and John Peterson of the company’s Portland office represented Regency Centers in the transaction.
LOS ANGELES — Robin Yi, Ryan Oh and Jason Kim of Coldwell Banker Commercial Wilshire Properties negotiated the disposition and acquisition of Little Tokyo Shopping Center in Los Angeles. A group of undisclosed investors purchased the property in an off-market transaction for $35.5 million. The buyer plans to renovate the property. The seller/developer was Richard Meruelo.
CHARLOTTE, N.C. — Ferncroft Capital has acquired Hunter’s Crossing, a 93,782-square-foot, grocery-anchored retail center, which is located in Charlotte, for an undisclosed amount. Tenants in the center include Lowes Foods, CVS/pharmacy, Dunkin’ Donuts and Wendy’s. Berkeley Capital Advisors LLC has represented the seller, Crosland LLC, which has been retained to lease and manage the property. Acquisition financing for Charlotte-based Ferncroft Capital was provided by Carolina First.
SPRING GARDEN, PA. — The York, Pa., office of Coldwell Banker Commercial | Bennett Williams (CBC) has completed the sale of Randolph Park Shopping Center, a 24,353-square-foot shopping center located in Spring Garden, for $4.3 million. The shopping center is situated on 1.88 acres along South Queen Street. CBC represented the buyer, New Jersey-based Randolph Park Associates, as well as the undisclosed seller.
BURLESON, TEXAS — Big Spring, Texas-based Premiere Cinemas has held the grand opening for its new 12-screen, 42,000-square-foot theater located in Burleson. The theater features stadium seating, reclining loveseats and wireless headsets for hearing-impaired customers. The theater is located inside Burleson Commons, a 37-acre retail center that opened in February.
SPRING, TEXAS — Marcus & Millichap has brokered the sale of a 10,908-square-foot CVS/pharmacy located on Aldine Westfield Road in Spring. Philip Levy and Blake Burnett of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a Texas-based limited liability company, and procured the borrower, a New York private investor. The acquisition price was not disclosed.
ORLANDO, FLA. — Seattle-based Nordstrom Inc. will open a 35,000-square-foot Nordstrom Rack store within Millenia Crossing in Orlando. The store, which is the first Nordstrom Rack in the Orlando area, will open in spring 2009. Located around Millenia Mall, Millenia Crossing is a 100,000-square-foot open-air retail development that is slated for completion in 2009. Madison, Wis.-based E.J. Plesko & Associates is developing the center; Madison Marquette is the leasing consultant.
PANAMA CITY, FLA. — Bill Mitchell of iCap Realty Advisors’ Atlanta office has arranged $6.5 million in refinancing for a 67,610-square-foot, Publix anchored shopping center in Panama City. The loan was provided for the borrower at a fixed rate of 5.64 percent for a 15-year term with a 15-year amortization. One of iCap’s life insurance company correspondants financed the loan.