SHIPPENSBURG, PA. — WRDC has acquired the Shippensburg Shopping Center, a 142,965-square-foot property on Walnut Bottom Road in Shippensburg. Chad Stine and Brad Rohrbaugh of Bennett Williams represented the seller, Hill Management, in the transaction.
LOS ANGELES — DJM Capital Partners has received $185 million that will be used to recapitalize its four-property Southern California retail portfolio. The Class A shopping centers that received loans include La Habra Marketplace in La Habra for $70.6 million; Village Del Amo in Torrance for $40.2 million; Montalvo Square in Ventura for $42.2 million; and Lakewood Square in Lakewood for $32 million. The portfolio loan allowed DJM to secure long-term, fixed-rate financing on these core assets. The funds will be used to pay off existing senior loans, mezzanine loans and defeasance costs. The funds were arranged by Steve Bram, David Pascale and Ari Shram of George Smith Partners.
SAN DIEGO — Bridgeworks Retail, an 18,569-square-foot retail condominium located in San Diego’s Gaslamp Quarter, has sold to Paragon Real Estate Fund for an undisclosed sum. The property is located at 224-238 5thAve. It is fully leased to tenants like Lou & Mickey’s restaurant, MAC, Toscana Caf
ATLANTA — Phillips Edison-ARC Shopping Center REIT Inc. has purchased six grocery-anchored shopping centers totaling 507,668 square feet in metro Atlanta for approximately $60.5 million. The retail portfolio includes five Kroger-anchored properties and one Publix-anchored property. The six properties are Butler Creek in Acworth, Ga.; Fairview Oaks in Ellenwood, Ga.; Grassland Crossing in Alpharetta, Ga.; Hamilton Ridge in Buford, Ga.; Mableton Crossing in Mableton, Ga.; and Shops at Westridge in McDonough, Ga. The REIT is co-sponsored by Phillips Edison & Co. and AR Capital LLC, a real estate investment program sponsor.
FORT MYERS, FLA. — Fort Myers-based J.L. Wallace Inc. has completed renovations on Victory Lane Chevrolet at 3980 Fowler St. in Fort Myers. The renovations consisted of a new exterior facade and interior renovations to the new car showroom, used car building, new service drive entrance and office, lounge and administrative offices. All renovations are in compliance with General Motors Chevrolet Dealership Re-Image Program. Ted Gadoury of J.L. Wallace served as project manager. Titsch & Associates Architects served as the project architect.
AUSTIN, TEXAS — The Weitzman Group has arranged the sale of the 39,739-square-foot Highland Commons, a shopping center located at the northeast corner of Airport Boulevard and Koenig Lane in Austin. The shopping center includes a 27,096-square-foot Spec's Wine, Spirits & Finer Foods as the anchor, along with Kick Butt Coffee, Eyemart Express, Highland Donuts, Whitehead Chiropractic and Y2K Nails. Brad Bailey of The Weitzman Group represented the seller, Westwood Financial Corp., in the transaction. Ben White of Durham & Bassett represented the buyer, a private investor from Houston.
SAN DIEGO — Bridgeworks Retail, an 18,569-square-foot retail condominium located in San Diego’s Gaslamp Quarter, has sold to Paragon Real Estate Fund for an undisclosed sum. The property is located at 224-238 5th Ave. It is fully leased to tenants like Lou & Mickey’s restaurant, MAC, Toscana Café and Chuck Jones Gallery. Paragon Real Estate Fund is managed by Roberto Jinich, Ricardo Jinich and Dan Berkus. The seller, an affiliate of S.D. Malkin Properties, was represented by HFF’s Ryan Gallagher, CJ Osbrink, Tim Wright and Zack Holderman.
GREENACRES, FLA. — The 131,210-square-foot Woodlake Plaza, a grocery-anchored shopping center in Greenacres, has sold for an undisclosed price. The property is located at the intersection of Lake Worth Road and Sherwood Forrest Boulevard. Tenants include Monterrey Market, Dollar General, Goodwill, Phoenix Theatres and Medical Institute of Palm Beach. The property also includes freestanding outparcels for TD Bank, ABC Liquors, Olive Garden and Tire Kingdom. Jim Michalak and Paul Bores of Plaza Advisors represented the seller, JBH Woodlake Plaza LLC. A South Florida-based private investor purchased the retail property.
RICHMOND, VA. — Hungarybrook Shopping Center, located at 1200 Concord Ave. in Richmond, has sold for $5.7 million. Coastal Equities, a privately held investment, development and property management company with offices in Weston, Fla., and Garden City, N.Y., purchased the 87,190-square-foot retail property, which is anchored by Food Lion. Alexander Divaris and Jason Oliver of Divaris Real Estate (DRE) represented the special servicer, CW Capital Asset Management LLC, in the transaction. DRE has been retained as exclusive leasing agent for the neighborhood shopping center.
ATLANTA — Retailers in Phase I of Emory Point, a $100 million mixed-use project by Cousins Properties and Gables Residential near Emory University in Atlanta, are open and the project is in the pre-development stage for Phase II, which will include a 40,000 square feet of retail and restaurant space. Phase I consists of 80,000 square feet of retail space and is 90 percent committed. Emory Point includes retailers Jos. A. Bank Clothiers, LOFT by Ann Taylor, Lizard Thicket, Francesca’s Collections, American Threads, Strippaggio and fab’rik.