CHICAGO — Transwestern has arranged a 13-year, 81,906-square-foot lease on behalf of The Chicago School of Professional Psychology in Chicago. The lease, which expands classrooms, offices and auxiliary service facilities, includes 45,636 square feet of new space. Additionally, 20,520 square feet of expansion space on the fourth floor of the Merchandise Mart has been taken by the school, as well as an extension of term for 15,750 square feet on the 13th floor. Phil Utigard and Katherine Williams of Transwestern represented the school; John Dempsey and Melissa Rubenstein of CB Richard Ellis, with Karin Kraai of Merchandise Mart Properties, represented the landlord.
MACHESNEY PARK, ILL. — Orput Cos. has broken ground on Willow Creek Retail Center, a 12,000-square-foot development located at the corner of Illinois Route 173 and Alpine Road in Machesney Park. The 24-acre center is anchored by Buffalo Wild Wings, which is scheduled to open its 6,000-square-foot facility this fall. Orput is being represented by Oak Brook, Ill.-based Mid America Asset Management for the leasing and development of the space.
NACOGDOCHES, TEXAS — Dallas-based Metropolitan Capital Advisors has arranged a $4 million loan for the refinancing of University Mall, a 182,222-square-foot shopping center located on University Drive in Nacogdoches. The property is currently 70 percent occupied; tenants include Bath & Body Works, Foot Locker, J.C. Penney, Belk, Gordon’s Jewelers and Hibbett Sports. The fixed-rate financing was secured on behalf of O.R.D.A. Corp. The lender was not disclosed.
CARY, N.C. — Regency Centers has completed the redevelopment of Shoppes of Kildaire, a retail center located at the intersection of Cary Parkway and Kildaire Farm Road in Cary. Redevelopment of the center began earlier this year, with Phase II renovations including exterior façade upgrades, new and wider sidewalks, and a new lighting package. Several merchants have signed leases in the development that is anchored by Trader Joe’s, Staples and Gold’s Gym.
NORTH RANDALL, OHIO — Jennifer Fernandez of NAI Cummins has arranged the sale of Randall Park Mall in North Randall to Cincinnati United Contractors. Located on approximately 42 acres of land, the facility includes 393,005 square feet of interior mall space and a 196,531-square-foot former Dillard’s. Cincinnati United Contractors plans to redevelop the mall into a mixed-use facility that includes offices and additional retail stores. The price of acquisition was undisclosed.
YORK TOWNSHIP, PA. — Queensgate Associates, an affiliate of Lancaster, Pa.-based Blackford Development, has purchased the Queensgate Shopping Center in York Township. The new owner plans to renovate the center, which is currently anchored by Weis Markets, Bon-Ton Departments Store and a movie theater. Situated on 35 acres, the center is located at the intersection of Queen Street and Springwood Road near I-83. LMS Commercial Real Estate is the exclusive leasing agent for the center and Property Management Alternatives will manage the site.
ONTARIO, CALIF. — Los Angeles-based Las Vegas Land & Development Company has acquired a fully occupied, 60,000-square-foot portion of The Marketplace at Ontario Mills, which is located at 4155-4195 Inland Empire Blvd. and 750 N. Ferrari Ln. in Ontario. Newport Beach, Calif.-based Peninsula Retail Partners sold the property for $18 million. The property consists of four furniture stores: CORT Furniture Rental, Ortho Mattress, Bassett Furniture and Easylife Furniture. Jeff Conover of Irvine, Calif.-based Faris Lee Investments represented the seller/developer in the transaction.
PALM DESERT, CALIF. — Peter Ioannou of Marcus & Millichap’s West Los Angeles office represented the undisclosed buyer in the acquisition of a 37,482-square-foot community shopping center in Palm Desert. Built in 1981, the center is located at 73091-73161 Country Club Dr. An undisclosed seller sold the property for $17.75 million.
GREENWOOD, S.C. — Marcus & Millichap’s Michael Bennett of the Downtown Chicago office and Andrew Margulies of the North Carolina office have represented both buyers and sellers in the $2.95 million sale of the Commons strip center. Located across from Wal-Mart Supercenter in Greenwood, the 16,144-square-foot retail center sits on a 1.82-acre site.
NAPERVILLE, ILL. — Bond Cos. and its joint venture partner MCD Properties are developing Springbrook Prairie Pavilion, a 270,000-square-foot retail center located at the northwest corner of 75th Street and Fort Hill Drive in Naperville. Road Runner Sports will be the first occupant on the 27-acre site. Other tenants that have signed lease commitments and will open throughout the year include Buffalo Wild Wings Grill & Bar, Whole Foods Market, Nordstrom Rack, Loehmann’s, and Cost Plus World Market. Springbrook Prairie is the first development in DuPage County to pursue LEED Silver Certification by the U.S. Green Building Council.