GILBERT, GOODYEAR AND PHOENIX, ARIZ. — Macy’s Inc. has plans to open three Macy’s stores in the Phoenix market within the next 2 years. First to open in April 2009 is a 120,000-square-foot, one-level store at SanTan Village in Gilbert. In fall 2010, a 120,000-square-foot, one-level store is slated to open at Estrella Falls in Goodyear, and a 150,000-square-foot, two-level store is expected to open at CityNorth in the Northeast Valley of Phoenix. Each of the new locations will offer apparel and accessories for the family, as well as select merchandise for the home. The stores will feature an open-air, lifestyle-center design, including a main street entrance configuration and emphasis on natural lighting via skylights and exterior windows. Santa Monica, Calif.-based Macerich is developing SanTan Village and Estrella Falls, while The Related Companies and Thomas K. Klutznick Company are developing CityNorth.
PUNTA GORDA, FLA. — Charlotte 41 Properties has acquired a 97,210-square-foot former Wal-Mart retail building in Punta Gorda, from Wal-Mart Stores, Inc., for $6.5 million. The property is located at 3811 Tamiami Trail. Allen Molin of CB Richard Ellis’ Fort Myers−Naples, Fla., office represented the buyer, and the seller was represented by Larry Foster and Bill Young, also of CB Richard Ellis.
LAFAYETTE, IND. — Holliday Fenoglio Fowler (HFF) has completed the sale of Lafayette Marketplace, a 214,876-square-foot power center located in Lafayette, for $21.38 million. The project, located on State Road 38 across from Tippecanoe Mall, is shadow-anchored by Kmart. It is 80 percent leased to a tenant roster that includes Michael’s PetSmart, Pier 1 Imports and Staples. Paul Barile and Janice Sellis of HFF’s Chicago office, with Dave Keller of the firm’s Indianapolis office, represented the seller, Kimco Realty Corp. The property was acquired by Baceline Investments.
DENTON, TEXAS — SCI Real Estate Investments has acquired Denton Towne Crossing, a 36,780-square-foot retail center in Denton, from Weber & Co. Tenants at the center, which is located at the intersection of Loop 288 and Brinker Road, include Verizon Wireless, Men’s Warehouse, Supercuts, Payless ShoeSource, Pei Wei restaurant and McAlister’s Deli. The property is shadow-anchored by Target and The Home Depot. SCI was represented in-house by Scott Derrick and Phillip Duke. Ken Shulman of The Staubach Company represented Weber & Co.
CLACKAMAS, ORE. — Todd Harding and Blake Hering Jr. of NBS Financial represented both the lender and the borrower on the financing of a $11.3 million loan for two buildings at Clackamas Commons. Located at 12480-82 SE Capps Rd., the buildings total 145,300 square feet. The borrower, Clackamas Commons II LLC, received a 72 percent loan-to-value ratio on a 5-year term, 30-year amortization loan, which was provided by State Farm Bank FSB.
HOLLAND, MICH. — CB Richard Ellis/Grand Rapids (CBRE) has arranged the sale of the former Toys “R” Us site at North Park Plaza in Holland. The site totals 30,709 square feet of big box retail space, and is located at 2353 N. Park Dr. CBRE represented the undisclosed seller in the transaction; the property was purchased by RJAL for an undisclosed amount.
MANSFIELD, OHIO — Cleveland-based NAI Daus has brokered the sale of Willowood Shopping Center, an 18,000-square-foot retail center located at 2016 W. Fourth St. in Mansfield, for approximately $3 million, at an 8.21 percent cap rate. The property is fully occupied by a tenant roster that includes Buffalo Wild Wings, Sprint PCS, U.S. Armed Forces, H&R Block and CheckSmart. Dan Cooper and Bob Havasi of NAI Daus represented the seller, Brookside Centers; the property was acquired by an undisclosed Wisconsin-based buyer.
TUCSON, ARIZ. — Allied Trading and Transacting Corp. has purchased Old Spanish Trail Marketplace, which is located at 9560-9660 E. 22nd St. in Tucson. Brown Tucson LLC sold the 140,652-square-foot retail power center for $33.1 million. Jan Fincham and Patrick Dempsey of Lee & Associates Arizona brokered the transaction.
PELHAM MANOR, N.Y. — Fairway Market is set to occupy 75,000 square feet at Post Road Plaza in Pelham Manor. The 268,000-square-foot retail center is centrally located at the intersection of Pelham Parkway and Boston Post Road adjacent to the Hutchinson River Parkway. The center is currently undergoing a complete renovation in keeping with the resurgence of the neighborhood. The first phase of the renovation is set to be complete later this year. Harry Malakoff of Levin Management represented Fairway Market in the lease negotiations.
LAVEEN, ARIZ. — Phoenix-based Evergreen Development Co. is developing Laveen Ranch Marketplace, a 14.21-acre retail center located at the intersection of 51st Avenue and Baseline Road in Laveen. Safeway is currently constructing a 55,000-square-foot store on the site, and Fletcher Tire is building a freestanding store at the center. Safeway is slated to open in October, while Fletcher Tire and the retail center are expected to open in August. Current tenants include Rosattis Pizza, The UPS Store, Nails of the World and a Mexican restaurant. Butler Design Group provided architectural services for the center, while A.R. Mays served as general contractor.