FRANKLIN TOWNSHIP, N.J. — Boutique commercial finance and advisory firm Axiom Capital Corp. has arranged a $25 million loan for the refinancing of a 113,204-square-foot retail center in Franklin Township, about 40 miles south of Manhattan. Grocer ShopRite anchors the three-building property, with Wells Fargo occupying the other standalone structure. The nonrecourse loan carried a 10-year term and fixed interest rate. The borrower was not disclosed.
KANSAS CITY, KAN. — In a sale-leaseback transaction, MAG Capital Partners LLC has acquired a 30,000-square-foot retail building occupied by Frontier Justice in Kansas City. The purchase price was undisclosed. Frontier Justice a retail destination founded in 2015 by Mike and Bren Brown, offers firing ranges, a café and an exclusive fashion boutique that sells a variety of men’s and women’s apparel, jewelry and home décor. Judd Dunning of DWG Capital Group arranged debt financing for MAG Capital Partners, which is a Texas-based private investment firm founded by Dax Mitchell and Andrew Gi. The transaction marks the second sale-leaseback that MAG Capital Partners has completed in the Kansas City market.
LAKE ORION, MICH. — The Boulder Group has arranged the $4.1 million sale of a single-tenant retail property occupied by tire company Firestone in Lake Orion, about 38 miles north of Detroit. The net-leased, 6,116-square-foot building is located at 25 Indianwood Road. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate developer. A Southeast-based private real estate investor was the buyer.
MIAMI — Brickell Station Partners has sold a retail property in Miami to Gazit Horizons for $20.1 million. Hector Antunez and Juan Andres Nava from Metro 1 represented Brickell Station Partners, and Fabian Graff of Metro 1 represented Gazit Horizons. The building, located in downtown Miami’s Brickell neighborhood, is currently home to Toasted Bagelry & Deli, Talkin’ Tacos, CBD American Shaman and Stanzione 87 pizzeria. Located at 83-97 Southwest Eighth St. along The Underline linear park, the building is situated close to Brickell City Centre and Metromover and Metrorail stops.
OLEAN, N.Y. — The Palomar Group, an investment sales brokerage firm based in Georgia, has arranged the sale of Shops at Walmart Plaza, a 53,642-square-foot shopping center in Olean, about 70 miles south of Buffalo. Shadow-anchored by Walmart, the center was 94 percent leased at the time of sale to tenants such as Old Navy, Pet Supplies Plus, GameStop, GNC, Supercuts, Spectrum and The Shoe Depot. Palomar Group represented the seller, Dallas-based Tabani Group, which sold the property to a private investor based in the Boston area for $12 million.
SANTA ANA, CALIF., AND WARSAW, MO. — BridgeCore has funded a $3.6 million bridge loan to finance the purchase of a to-be-built retail building that 7-Eleven will occupy in Santa Ana. The loan was cross-collateralized with a Taco Bell-occupied asset in Warsaw. The name of the borrower was not released. The loan features a 12-month term with six months of yield maintenance, which will allow the seller of the 7-Eleven property to complete its construction of the build-to-suit on behalf of the borrower and meet its delivery obligations to 7-Eleven.
HOUSTON — Locally based investment firm Wu Properties has acquired Willowchase Center, a 231,126-square-foot shopping center that sits on a 19.5-acre site in northwest Houston. At the time of sale, Willowchase Center was 97 percent leased, with Hispanic grocer Fiesta serving as the anchor. Other tenants include dd’s DISCOUNTS, Jo-Ann Fabrics, Goodwill, Northern Tool + Equipment, Mattress Firm, Family Dollar, America’s Best, Jamboree Dentistry and Metro PCS. Ryan West, Chris Gerard, John Indelli, Katherine Miller, Bailey Black and Grant Rexrode of JLL represented the seller, Houston-based Fidelis Realty Partners, in the transaction. Wu Properties has tapped NAI Partners to lease the center moving forward.
CORAL GABLES, FLA. — Patrinely Group has begun renovations at Columbus Center, a 263,000-square-foot office and retail complex in Coral Gables. USAA Real Estate, Columbus Center’s majority owner, has partnered up with Patrinely Group to remodel the building’s common areas. Renovations will include updating the front entrance and main lobby, activating the outdoor terrace and modernizing the conference centers. Patrinely Group assumed property management operations at the property in 2020. The firm also oversees leasing, along with Maggie Kurtz, Kevin Gonzalez and Jake Freeman of CBRE. Located at 1 Alhambra Plaza, Columbus Center is situated 5.3 miles from downtown Miami, 3.1 miles from the University of Miami and 4.7 miles from Miami International Airport. The property is also situated 11.9 miles from Miami Beach.
WARWICK, R.I. — Massachusetts-based investment firm Capital Group Properties has purchased Warwick Center, a 160,000-square-foot retail center in Rhode Island. The property sits on 15 acres at the intersection of Interstates 95 and 295 and houses tenants such as Barnes & Noble, Designer Shoe Warehouse, Edge Fitness, Ulta Beauty, Carrabba’s Italian Restaurant and Walpole Outdoors. Capital Group Properties purchased the asset from institutional investment firm Nuveen Real Estate for $12.3 million and plans to upgrade the landscaping, parking areas, signage, lighting and building façade. Nat Heald, Bill Moylan, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the transaction.
WICHITA, KAN. — SVN | Chicago Commercial has brokered the sale of a 15,120-square-foot retail property occupied by Walgreens in Wichita for $4.4 million. The net-leased property is located at 333 W. 13th St. Tim Franz of SVN represented the undisclosed seller. A California-based private equity group was the buyer.