TEXAS — Atlanta-based GreenbergFarrow is overseeing the rollout of new locations for Carl’s Jr. restaurants in Texas and California. GreenbergFarrow’s development services division is guiding the expansion program for the restaurant, which currently has more than 1,100 restaurants in 14 states and six countries. The firm also will provide architecture, civil engineering and site planning services for the new restaurant locations.
TEMPE, ARIZ. — Robert Reisner of Tempe-based RWR Enterprises LLC has acquired Broadway Plaza Tempe, a 12,961-square-foot retail building in Tempe. Located at 1740 E. Broadway, the property sold for $4.57 million or $359 per square foot. Erik Marsh of Marcus & Millichap’s Phoenix office represented the buyer; Jamie Medress and Mark Ruble, also of Marcus & Millichap’s Phoenix office, represented the seller, Alan Roselinsky of Las Vegas-based Broadway McClintock Plaza LLC, in the transaction.
ST. AUGUSTINE, FLA. — Weingarten Realty and St. Augustine Retail Holdings are developing Epic Village at St. Augustine, a 23-acre theatre-anchored shopping center, adjacent to St. Augustine Market. The project will feature a 16-screen Epic Theatre and 17,896 square feet of retail space with four outparcels. Construction is slated to begin this month and complete in spring 2009.
COLUMBIA, MD. — Sleepy’s, a specialty mattress retailer, has leased 119,000 square feet at Gateway Commerce Center in Columbia, from RREEF. The property is located at 8700 Robert Fulton Dr. and is near the intersection of Route 175 and Interstate 95. Bob Smith and Brad Berzins of NAI KLNB represented the lessee, and the landlord was represented by Ed Harris and John Wilhide of CB Richard Ellis.
CHESHIRE, CONN. — Press/Cuozzo Commercial Services has brokered the $1.35 million sale of an 11,500-square-foot retail building in Cheshire. The single-story building is situated on 1.36 acres at 882 S. Main St. The buyer, Whitney Cheshire, was represented in-house by Stephen Press. Lou Proto of The Proto Group represented the seller, Delaware-based seller Home Fabric Mills, in the transaction.
GREENSBORO AND DURHAM, N.C. — Tom Goodsite of Prudential Mortgage Capital’s Atlanta office originated two fixed-rate, 5-year interest-only loans, totaling $115.7 million, on behalf of CBL & Associates, for the Starmount portfolio in Greensboro and Renaissance Center Phase II in Durham. The Starmount portfolio secured $100 million in financing. The portfolio consists of Friendly Center, a 1-million-square-foot regional shopping mall, and six surrounding suburban office/bank buildings. The mall is anchored by Macy’s, Belk, Sears, Grande Cinema and Barnes & Noble. Renaissance Center Phase II secured $15.7 million in financing. The property is a 150,200-square-foot shopping center anchored by Best Buy, Babies R’ Us and Old Navy, in addition to specialty shops, restaurants and second-floor office space.
SATELLITE BEACH, FLA. — Mr. Sunil Khiyani and Skyview Plaza have acquired a 32,750-square-foot retail center in Satellite Beach, from Garrett Co. and Trigen Co., for $3.5 million. The property is located at 202-254 Highway A1A. Ronnie Issenberg of Marcus & Millichap’s Miami office was the sole broker in the transaction.
HUGO, MINN. — NorthMarq Investment Services has completed the sale of Victor Marketplace, a 70,000-square-foot retail center located at 14775 Victor Hugo Blvd. in Hugo. The center is anchored by a 55,000-square-foot Festival Foods, and is 100 percent leased. Eric Bjelland and Leah Truax of NorthMarq represented the undisclosed seller; the property was acquired by Victor Hugo Boulevard LLC.
OAK LAWN, ILL. — Chicago-based First Western Properties has acquired Park Lawn Plaza, a 25,000-square-foot shopping center located in Oak Lawn. Tenants in the center include Lifesource, Nursefinders, Health Care Association, Lab Corp., Sleep Network of Illinois, Occu-Sport, The Seniors Club and Fantastic Sam’s. The acquisition price, as well as the seller, was undisclosed.
FORT WORTH, PLANO AND CROWLEY, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged a $28.9 million floating-rate mortgage loan, along with a $3.25 million mezzanine loan, for the acquisition of three shopping centers in Fort Worth, Plano and Crowley. The trio of Kroger-anchored shopping centers, Village at Los Rios, Altamesa and Stone Gate Plaza, were 96 percent leased at the time of sale. The loan was arranged on behalf of Margaux Development, which used the funds to recapitalize the partnership and buyout an existing partner.