CORPUS CHRISTI, TEXAS — Partners Real Estate has brokered the sale of River Court Shopping Center, a 14,000-square-foot retail strip center in Corpus Christi. Tenants include First Cash Pawn, Pro Cleaners and Hu-Dat Noodle House. Gustavo Torres of Partners, along with Lynann Pinkham of Cravey Real Estate Services, represented the seller, an entity doing business as KCP River Court, in the transaction. The buyer and sales price were not disclosed.
WASHINGTON, UTAH — Gantry has arranged a $15.2 million loan for the acquisition of Cotton Mill II, a retail center located in Washington, a suburb of St. George. Situated on 18.2 acres, the property comprises a shopping center and two outparcel ground leases totaling 165,000 square feet, with an additional pad that has capacity for a 15,000-square-foot multi-tenant inline building. Tenants at the center include Kohl’s, Natural Grocers, Ross Dress For Less, JOANN Fabrics, Dollar Tree, Red Robin and Cache Valley Bank. Tony Kaufmann and Erinn Cooke of Gantry secured the 30-year financing through a life insurance company on behalf of the undisclosed borrower.
IMPERIAL, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of two single-tenant retail properties in Imperial for a total $5.8 million. A Starbucks Coffee drive-thru occupies the first building, which comprises 2,089 square feet, on a 10-year lease. A private investor purchased the property for $2.9 million. The United States Postal Service leases the second building, which totals 5,430 square feet. An Indiana-based private partnership acquired the property for $2.9 million. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, 5th Street Development LLC, in both transactions. Details on the buyer were not disclosed.
CARLSBAD, CALIF. — Three new tenants have signed leases at Carlsbad Arcade in the Village, a retail center comprising 13,000 square feet in Carlsbad, roughly 35 miles north of San Diego. Village Florist Co., Carlsbad Golf Carts and Joey Snow Design Co. will occupy 1,180; 1,250; and 1,060 square feet, respectively. Serena Patterson and Luke Holler of Urban Property Group represented both the tenants and the landlord, Carlsbad One LLC, in the leasing transactions.
NEW YORK CITY —New Jersey-based financial intermediary Progress Capital has arranged a $42.5 million loan for the refinancing of Bridgemarket, a 100,000-square-foot retail property located at the intersection of East 59th Street and First Avenue in Manhattan. Tenants at Bridgemarket include Gustavino’s, T.J. Maxx, Ship Essentials and Trader Joe’s. Brad Domenico of Progress Capital arranged the loan on behalf of the borrower, MADD Equities. The direct lender was not disclosed.
SOUTH HOLLAND, ILL. — Marcus & Millichap has brokered the $1.9 million sale of a two-tenant retail property in South Holland, a southern suburb of Chicago. The center is home to Chase Bank, which recently executed a lease extension, and CD One Price Cleaners. Ashish Vakhariya, Seth Haron and Darin Gross of Marcus & Millichap represented the undisclosed seller. The buyer completed a 1031 exchange.
FORT WAYNE, IND. — Mega Markdowns has signed a 14,814-square-foot retail lease in Gateway Plaza in Fort Wayne. Dave Horacek of Bradley Co. represented the landlord, an entity doing business as FSCM Gateway LLC. The property is located at 1551 Goshen Road.
CHESAPEAKE, VA. — Cushman & Wakefield | Thalhimer has brokered the $4.9 million sale of Cedar Lakes Center, a retail center located at 561-565 Cedar Road in Chesapeake. Sola Salon Studios anchors the property, which totals 35,659 square feet and was 97 percent leased at the time of sale. Dean Martin of Thalhimer represented the undisclosed seller in the transaction. An entity doing business as Cedar Lakes Associates LLC acquired the property.
DURHAM, N.C. — Marcus & Millichap has arranged the $4.6 million sale of Park Terrace, a 24,813-square-foot shopping center located in Durham. Situated on 2.7 acres at 2223 NC Highway 54, the property comprises 11 suites averaging 2,255 square feet. The center was 95 percent leased at the time of sale. Andrew Margulies and Harrison Creason of Marcus & Millichap represented the seller, a California-based limited liability company, in the transaction. The buyer was also not disclosed.
MIDDLEBOROUGH, MASS. — Massachusetts-based Christmas Tree Shops will close all of its roughly 70 stores, according to reports from multiple mainstream news outlets including CNN and USA Today. Previously, the chain planned to sell, following filing for Chapter 11 bankruptcy in May. Now, all stores will be closed, unless a last-minute buyer comes forward. Formerly, the brand was owned by Bed Bath & Beyond, which sold the concept to Handil Holdings in 2020 and filed for bankruptcy itself earlier this year.