LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has leased 7,206 square feet of retail space at Laurel Office Park III, located at 17197 N. Laurel Park Drive in Livonia, Mich. The landlord, LOP III Holding Co. LLC – FMC, leased the space to Blazent Inc. Blazent, a data quality management company currently located in Novi, will move its headquarters to the Laurel Office Park location next year. David Friedman and Amit Hingorani of Friedman represented the landlord in the transaction.
WHEELING, ILL. — Marcus & Millichap has negotiated the $2.4 million sale of Pete Miller’s Steak House and 227,685 square feet of land in Wheeling, Ill. Richard Kozarits and Joseph Sigal of Marcus & Millichap’s Chicago Oak Brook office marketed the property on behalf of the seller, a limited liability company. Kozarits also secured and represented the buyer, a private investor. Pete Miller’s Seafood and Prime Steak is located at 412 N. Milwaukee Ave. The property includes 150 dedicated parking spaces and 383 feet of frontage on Milwaukee Avenue.
DALLAS and SOUTHLAKE, TEXAS — Shop Cos.’ investment sales has brokered the sale of two retail properties in metro Dallas totaling 44,105 square feet. Tommy Tucker and Tim Axilrod of Shop Cos. represented the seller in each transaction. The properties include: Campbell Village, a 36,659-square-foot retail center located in Dallas at the southeast quadrant of Hillcrest and Campbell roads. At the time of closing the property was 94.5 percent leased to tenants including Leslie’s Pool Supplies, North Texas Physical Therapy, Campbell Village Veterinary Hospital, Armani Salon, Empire Cleaners, Meat Point and Rover Sleepover. Shop Cos. represented the seller, a Dallas-based limited company. A private purchaser from California utilizing a 1031 tax-deferred exchange was the buyer. Stanley Crossing, a 7,446-square-foot retail center in Southlake. The property sits at the intersection of West Southlake Boulevard (FM 1709) and Davis Boulevard (FM 1938). At the time of closing it was 100 percent leased to Bibbentuckers, Re/Max and Indulge Nail Salon. Shop Cos. represented the seller, a Dallas-based limited partnership. A Delaware-based limited utilizing a 1031 tax-deferred exchange was the buyer.
PFLUGERVILLE, TEXAS — Venture Commercial Real Estate’s investment sales team has arranged the sale of The Shops at 685, an 11,200-square-foot, multi-tenant retail center located in the Austin suburb of Pflugerville. The Shops at 685 is located on 2.1 acres at 2424 FM 685, near the intersection of toll roads SH 130 and SH 45. Tenants include Einstein Bros. Bagels, Pie Five Pizza Co., Chipotle and Mattress Firm. John Zikos, Jonathan Cooper, Christopher Gibbons and Don Miller of Venture’s Investment Sales team represented the buyer, Callaghan Ranch Ltd. Tim Allen of JLL Americas Inc. represented the seller, CSW Pflugerville LLC.
GARLAND, TEXAS — The Weitzman Group has negotiated the sale of a convenience store on 1.4 acres at 4441 Bass Pro Drive in Garland. The purchaser is the operator of the convenience store, Daanya Inc. David Zoller and Joey Keffler of The Weitzman Group handled negotiations as listing agents for the site. The location, branded Beverage City, will continue to be operated as a fuel station and convenience store. A planned internal renovation will upgrade the facility and add a full kitchen. The property, with freeway frontage, is part of Harbor Point, anchored by Bass Pro Shops.
TAMPA, FLA. — HFF has arranged $29.5 million in financing for TriPointe Plaza, a 71,721-square-foot, mixed-use property located in Tampa. Located at 4488 Boy Scout Blvd. in the Westshore District, the property consists of a four-story, Class A office building; 374-space structured parking garage; 10,008-square-foot Eddie V’s Prime Seafood & Steaks restaurant; and 15,005 square feet of ground-floor retail. A drive-through Synovus Bank branch, BNY Mellon, TD Ameritrade and Sharp Electronics anchor the 90 percent-leased office component. Chris Drew and Brian Gaswirth of HFF worked on behalf of the borrower, Cardinal Point Management, to secure the five-year, fixed-rate loan through a life insurance company. Initial loan proceeds were used to acquire the property with the future proceeds going to fund the construction and interior build-out of a rooftop restaurant/lounge area.
OCOEE, FLA. — Calkain has brokered the $1.4 million sale of a single tenant retail property occupied by Dunkin’ Donuts in Ocoee. The recently constructed, 2,126-square-foot building is located at 2266 Ocoee Apopka Road. Patrick Nutt and Andrew Fallon of Calkain represented the seller, an undisclosed developer, in the transaction. The buyer was also undisclosed.
PITTSBURGH — Pittsburgh-based HFF has arranged $210 million in first lien financing for a 10-property retail portfolio totaling 973,985 square feet in Arizona, California, Kansas, North Carolina and Texas. Kevin MacKenzie, Jim Curtin, Cory Fowler, Jamie Kline and Lauren LaFever of HFF worked on behalf of the borrower, Westwood Financial Corp., to place a 10-year, $110 million, fixed-rate portfolio loan with a life insurance company and a $100 million senior credit facility with Wells Fargo Bank’s Real Estate Capital Markets Group. The loans were secured in correlation with Westwood’s recent $1.2 billion consolidation and reorganization. The $110 million loan was secured against six retail assets including the 79,575-square-foot Village Plaza in Phoenix; the 65,054-square-foot Plaza Del Rio in San Juan Capistrano, Calif.; the 103,124-square-foot Stateline Village in Prairie Village, Kan.; the 46,789-square-foot Hebron Parkway Plaza in Carrollton, Texas; the 226,414-square-foot Old Town Shopping Center in Dallas; and the 79,226-square-foot Steelecroft Shopping Center in Charlotte, N.C. Tenants at the 91 percent-leased portfolio include Harris Teeter, Sprouts, Hy-Vee, Tom Thumb, Vons, PetSmart, LA Fitness and Michaels. The assets included in the Wells Fargo credit facility included the 77,031-square-foot Camelback Village anchored by AJ’s Fine Foods in Phoenix; the 89,506-square-foot Mercado Del Rancho …
SAN FRANCISCO — Colliers International has arranged the sale of 220 Post Street, a 37,500-square-foot retail building located in the Union Square neighborhood of San Francisco, for over $70 million. Saks Fifth Avenue currently occupies the property, but will vacate the location in October. An undisclosed Taiwanese investor sold the property to Los Angeles-based Angelo, Gordon & Co. Julie Taylor, Tony Crossley, Tim Maas, Darren Kuiper and Frank Wheeler of Colliers International represented the seller in the transaction. The Colliers team worked alongside China capital expert Yang Chen to negotiate the sale.
SAN DIEGO — CBRE has arranged the $14 million sale of Taco Bell and Shops, an 18,175-square-foot retail strip center in San Diego. Tenants at the center include Taco Bell, El Pollo Loco, Pick Up Stix, AT&T and T-Mobile. Philip Voorhees, Jimmy Slusher, Megan Wood, Matt Burson, Kirk Brummer, Preston Fetrow, John Read and Reg Kobzi of CBRE represented the seller, Los Angeles-based MVR LLC. David Lachoff of Newmark Grubb Knight Frank represented the buyer, an undisclosed, California-based private investor.
