KISSIMMEE, FLA. — Marcus & Millichap has arranged the $9.55 million sale of the 83,340-square-foot Kissimmee Korners, located at 1507 N. John Young Parkway in Kissimmee. Tenants include Budget Rent-A-Car, Little Caesars, United Legacy Bank and state government offices. Douglas Mandel and Mark Thompson of Marcus & Millichap represented both parties in the transaction.
HAMPSTEAD, N.C. — Wakefield Associates has broken ground on the 82,000-square-foot Hampstead Town Center, a shopping center located at the intersection of Ravenswood Road and U.S. Highway 17 in Hampstead. A 44,000-square-foot Lowes Foods Grocery Store will anchor the center. Completion is slated for May 2013.
KNOXVILLE, TENN. — Ziff Properties has purchased the 31,400-square-foot Franklin Shopping Centre, located at 913-925 Highway 321 N. in Knoxville, from US Bank for $2.25 million. Aaron's Rental and Dollar Street anchor the center.
COLUMBUS, OHIO — Pace Financial Group has arranged $8.6 million in financing for Waterloo Crossing, a 91,254-square-foot retail center in Columbus. PNC Bank provided the loan to the borrower, the Casto Group.
NEW YORK CITY — Burlington Coat Factory opened its new 92,000-square-foot flagship store in New York City's Union Square. The store is located at 14th Street and University Place and is the retailer's sixth city location. Burlington, a national retail chain that offers clothing, home decor and gifts, plans to hire 500 employees.
MANSFIELD, PA. — Marcus & Millichap has arranged the $840,000 sale of a 4,900-square-foot net-leased Sheetz property in Mansfield. Michael Shover and Matthew Gorman of Marcus & Millichap represented the seller, a developer, in the transaction. They also secured the buyer, a private investor. The property is located at 85 W. Wellsboro St. and was built in 2011. Sheetz is a chain of gas stations and convenient stores owned by the Sheetz family.
RICHMOND — Quantum Real Estate Advisors has brokered the sale of a 6,800-square-foot O'Reilly Auto Parts store, located in Richmond, for $1.2 million. The seller, a Chattanooga, Tenn.-based preferred developer of O'Reilly's, sold the store to a Houston-based private investor. The store has a little less than 20 years remaining on its initial 20-year triple net lease. Jordan Kaufman of Quantum represented the buyer in the transaction.
LUBBOCK — NorthMarq Capital has secured first-mortgage, long-term financing for Phase I of Canyon West, a 268,090-square-foot retail development in Lubbock. Canyon West's tenants include Target, SAMs, Burlington Coat Factory and Ross Dress for Less. David Mott of NorthMarq's Dallas office arranged the financing.
WALLISVILLE — Pizza Properties, Inc. has opened a 12,000-square-foot Peter Piper Pizza restaurant, the first of 25 Peter Piper Pizza restaurants planned for the Houston market in the next several years. The new restaurant is located at 6223 E. Sam Houston Parkway North on Beltway 8. Additional sites for new Peter Piper Pizza restaurants are currently under construction in Victoria, Corpus Christi and Waco.
TORRANCE, CALIF. — Torrance Promenade, a 269,000-square-foot retail power center, has received a $27.6-million refinancing. The property is located at 19800 to 20100 Hawthorne Blvd. in Torrance. It is currently 99 percent leased. Notable tenants include Trader Joe’s, Office Depot, Marshalls, Same Ash Megastore, Ross Dress for Less, Loehman’s, Tuesday Morning and Party City. HFF’s John Crump and Robert Delitsky arranged the 10-year, fixed-rate loan on behalf of KIR (Kimco Income REIT) Torrance, L.P. through the firm’s relationship with a life insurance company. Kimco Income REIT is an affiliate of Kimco Realty Corporation.