ARLINGTON — Irvine, Calif.-based TNP Strategic Retail Trust has acquired the 62,676-square-foot Ensenada Square, a grocery-anchored shopping center in Arlington. The property is 93 percent leased to tenants including Kroger, Family Dollar and Fort Worth Community Credit Union. Ensenada Square is TNP's 14th acquisition. Brandon Beeson of Edge Realty's Dallas/Fort Worth office represented both parties in the transaction.
CULPEPER, VA. — The 95,477-square-foot Culpeper Marketplace Shopping Center, located at the intersection of James Madison Highway and Nalles Mill Road in Culpeper, has sold. The property is 98 percent leased to tenants, which include Kohl's, Famous Footwear, Anytime Fitness and Buffalo Wild Wings. Bob Sanner of Cassidy Turley's San Francisco office represented Menomonee Falls, Wis.-based Continental Properties Co., the seller, in the transaction. The buyer was Culpeper Marketplace Associates, an affiliate of Virginia Beach, Va.-based Wheeler Interests.
ST. PETERSBURG, FLA. — BB&T Bank has sold the 19,045-square-foot San Martin Village Retail Center, located at 10690 Gandy Blvd. in St. Petersburg, to Hamza Investment Properties for $1.4 million. Dennis Bush, Frank Boullosas and Elliott Ross of Clearwater, Fla.-based The Ross Realty Group represented the seller in the transaction. Michelle Smith of Tampa, Fla.-based Ocean Blue Realty represented the buyer.
ST. ANTHONY AND WOODBURY, MINN. — Inland Real Estate Corp. recently purchased two retail properties in the Minneapolis market for a total of $46.6 million. In a joint venture, Inland and PGGM acquired Silver Lake Village, a grocery-anchored shopping center in St. Anthony — an inner suburb of Minneapolis — for $36.3 million. On the same day, Feb. 24, Inland also acquired Woodbury Commons, a shopping center in Woodbury, for $10.3 million. Silver Lake consists of 159,303 square feet and is anchored by Cub Foods. Woodbury Commons totals 116,197 square feet and its tenants include Outback Steakhouse, Applebee's and Payless ShoeSource.
CINCO RANCH — Regency Centers has commenced construction on the 260,000-square-foot Southpark at Cinco Ranch, a neighborhood retail center located at the intersection of Westpark Tollway and Spring Green Boulevard in Cinco Ranch. Regency partnered with Excel Commercial Real Estate to begin construction on Phase I, which includes a 101,497-square-foot Kroger, a 71,680-square-foot sporting goods retailer, 29,920 square feet of small shop space and seven outparcels. The project is 72 percent preleased and anchors are slated to open in the fourth quarter of 2012. Phase II will add 57,000 square feet.
WESLACO — Colliers International has brokered the sale of the 178,618-square-foot Valley Crossing Shopping Center, located in Weslaco. The retail center is fully leased to tenants including J.C. Penney, T.J. Maxx, Petco and Olive Garden. Ryan West of HFF's Houston office represented the buyer, Capcor Weslaco Ltd., in the transaction. Christopher Winters of Colliers' Houston office represented the seller, SDI Weslaco Holdings.
MILWAUKEE — Marcus & Millichap of Milwaukee has arranged the $1.8 million sale of a 14,340-square-foot Dollar Tree in the city. The single-tenant property is located along South Howell Street. Jeff Rowlett and Jason Ladner of Marcus & Millichap represented the seller, a Wisconsin developer, in the deal. The buyer was a private investor from California.
MARLTON, N.J. — Mainardi Management Co. has obtained an $11.7 million loan for the Greentree Square Shopping Center in Marlton. The 110,000-square-foot center is anchored by Whole Foods Market. Tom Didio and Mike Cerullo of HFF arranged the loan through Allstate Insurance Co. The 10-year loan carries a fixed rate of 4 percent.
CENTRAL VALLEY, CALIF. – A portfolio sale that includes four Rite Aids in the Central Valley has sold to a private investor for $23 million. The properties total 69,088 square feet throughout Shafter, Fresno, Selma and Delano. The buyer was represented by Craig Tomlinson of Stan Johnson and Associates. The seller, Halferty Wilson Nicholas Properties, LLC, was represented by Christopher E. Maling and David Maling of Colliers’ Downtown Los Angeles office.
LIVONIA, MICH. — Farmington Hills, Mich.-based Pet Supplies Plus has signed a new lease for 33,000 square feet to relocate its national headquarters to Laurel Office Park in Livonia. Pet Supplies Plus is the third-largest pet specialty retailer in the U.S. with 257 stores in 23 states. The new headquarters will be located at 17197 N. Laurel Park Dr. David Friedman of Friedman Integrated Real Estate Solutions represented the landlord, Laurel Office Park in the transaction. Jeff Cavazos of NAI Farbman represented the tenant.
