ENCINO, CALIF. — NAI Capital has negotiated the more than $4.22 million sale of a retail center located at 17301 Ventura Blvd. in Encino. NAI’s Richard Leyner and Douglas Cole represented the seller, Encino Shoppes LLC, in the transaction, and the firm’s Sam Monempour, Chris Jackson and Todd Lorber represented the buyer, Encinvest VL Inc.
CASSELBERRY, FLA. — Deerfield Beach, Fla.-based SIKON Construction has completed a 46,000-square-foot Publix at Casselberry Commons. The $3 million store, which is located at the intersection of State Road 436 and Howell Brach Road in Casselberry, replaces a smaller adjacent Publix. Orlando-based Cuhaci & Peterson Architects designed the store.
SOUTHLAKE, TEXAS — Holliday Fenoglio Fowler has secured $90 million in financing for the first four phases of Inland Western REIT's 841,029-square-foot Southlake Town Square. The affected phases of the six-phase mixed-use project, which was completed during the past 10 years, total 507,500 square feet. MetLife Real Estate Investments financed the 7-year loan, which carries a 6.25 percent interest rate. The new financing replaces maturing bank and CMBS loans. More than 150 tenants call Southlake Town Square home.
SPRING, TEXAS — RCG Ventures has purchased the 180,000-square-foot Louetta Central shopping center from a private party for an undisclosed amount. Located at 20614 N. Freeway in Spring, the property had been listed for around $21 million. The center is anchored by Kohl's, Michaels and Ross Dress for Less and is adjacent to a Walmart Supercenter. Louetta Central is currently fully leased.
AUBURN, CALIF. — On behalf of a shopping center investment fund, North American Development Group (NADG) has acquired the 205,100-square-foot Rock Creek Plaza, a regional shopping center in the Sacramento suburb of Auburn, for $23.5 million. The firm’s first shopping center acquisition in California, the 100 percent-leased property is anchored by Kmart, Best Buy, Petco, Rite Aid and BevMo!. Sperry Van Ness’ Fouy Ly represented both NADG and the seller, a private investment trust, in the all-cash transaction.
DERRY, N.H. — Marcus & Millichap has brokered the sale of a freestanding Applebee's Neighborhood Grill & Bar located in at 14 Manchester Road in Derry for $1.85 million. The restaurant currently has more than 18 years remaining on its lease, with four 5-year extension options. Robert Horvath, Todd Tremblay and Ethan Cole of Marcus & Millichap's Boston office procured the buyer, M Cohen Enterprises. The seller was New York City-based DBAPPLEF LLC.
HIALEAH, FLA. — Marcus & Millichap has brokered the $6.7 million sale of the Navarro Hialeah Plaza between two private parties. The 35,560-square-foot shopping center, which is anchored by Navarro Discount Pharmacy, is located at 3141 W. 76th St. in Hialeah. Drew Kristol and Kirk Olson of Marcus & Millichap's Miami office brokered the sale.
ATLANTA — Charlotte-based Ferncroft Capital has purchased the 6,000-square-foot 9 Concourse Parkway from The Landmarks Group Properties Corporation for an undisclosed amount. The property, located on Hammond Drive in Atlanta, is a single-tenant outparcel to the 2.1-million-square-foot Concourse Office Park. Terms of the broker-less transaction were not disclosed.
SAN ANTONIO — University of Phoenix has signed a 20,000-square-foot lease with Houston-based Whitestone REIT for space in the Windsor Park Shopping Center. The 192,458-square-foot property is located at 8600 Fourwinds Drive in San Antonio. It is currently 85 percent leased. Larry Mendez and Charlie Weil of Transwestern's San Antonio office represented the landlord. Michael Griffin of the firm's Dallas office represented the tenant.
MYRTLE BEACH, S.C. — Choate Construction will soon break ground on a 30,000-square-foot WonderWorks museum in Myrtle Beach. Construction of the upside down, slightly tilted building will include demolition of the existing structure. Goodwyn, Mills and Cawood Inc. designed the property, which will house more than 100 interactive exhibits.