EAST ST. LOUIS AND EDWARDSVILLE, ILL., AND CREVE COEUR AND WASHINGTON, MO. — L3 Corp. has arranged four leases totaling 32,391 square feet of retail space in Illinois and Missouri. In East St. Louis, Menyoun Jordan d/b/a Balloons R Us leased 2,150 square feet of retail space at State Street Shopping Center. L3 Corp. represented the landlord, State Street Shopping Center LLC, in the deal. In Edwardsville, Ross Dress for Less inked a deal for 25,000 square feet of retail space at Dierbergs Edwardsville Crossing from GCE Outparcels LLC. L3 Corp. represented the tenant in the transaction. In the third deal, BARRESTL2 LLC d/b/a barre3 leased 2,241 square feet of space at Heritage Place in Creve Coeur from Ramco-Gershenson Properties LP. Kevin Shapiro of L3 Corp. represented the tenant. In the final transaction, Sterling Inc. d/b/a/ Kay Jewelers signed a deal for 3,000 square feet of space at Phoenix Center II in Washington from PC II Vertical LLC. L3 Corp. represented the tenant and landlord in the deal.
KAPOLEI, HAWAII— DeBartolo Development is set to open Ka Makana Alii, a 1.4 million-square-foot regional mall currently under construction in the West Oahu city of Kapolei, in late October. Anchored by the first Macy’s in West Oahu, Phase I of Ka Makana Alii features more than 100 shops and restaurants, a state-of-the-art Consolidated Theatres and the state’s first Hampton Inn & Suites. DeBartolo Development broke ground on the project in March 2015. Other tenants at the center will include H&M, Forever 21, Victoria’s Secret, Old Navy, Five Guys Burgers and Fries, California Pizza Kitchen, AT&T, PetSmart and Foot Locker.
PEARL CITY, HAWAII — Sonnenblick-Eichner Co. has secured a $59 million in first mortgage debt to refinance Pearl City Gateway, a 146,205-square-foot shopping center located roughly 12 miles outside of Honolulu in Pearl City. The 10-year, fixed-rate financing was secured on behalf of the borrower, Robertson Properties Group, through New York Life Real Estate Investors. The loan carries an interest rate of less than 4 percent with a 30-year amortization schedule. Pearl City Gateway is fully leased to tenants including Babies R Us, TJ Maxx, Petco, McDonalds, AT&T, Domino’s and Subway.
IRVINE, CALIF. — Wesco Properties Inc. has acquired a two-building retail site located in Irvine for $13.7 million. The buildings total 12,577 square feet, and are leased to Mimi’s Café and Islands Restaurant. Jeff Conover of Faris Lee represented the seller, VR Irvine Pad LLC, and Tony Dorn of Beitler Commercial Realty Services represented the buyer in the 1031 exchange transaction.
LOS ANGELES — Burgerim, a better-burger concept, has opened its second U.S. location in Montclair, Calif. Burgerim is set to open 33 franchised restaurants in the next year across the country, including in Memphis, Tenn.; Boca Raton, Fla.; and Houston, Texas. Burgerim currently operates in over 200 locations in 16 countries. Burgerim’s first U.S. location is at 5001 Melrose Ave., in Los Angeles.
MAPLE SHADE, N.J. — CBRE has arranged the sale of a retail property located at 131 E. Kings Highway in Maple Shade. Apex Financial Advisors acquired the property from SIN Ventures Maple Shade for $15.6 million. The 109,841-square-foot, free-standing property is occupied by BJ’s Wholesale Club. Brad Nathanson of CBRE represented the seller and procured the buyer in the deal.
LINDEN, N.J. — Milbrook Properties has signed three new tenants to Aviation Marketplace, its 644,565-square-foot shopping center located at 601-901 W. Edgar Road in Linden. In the first deal, Massage Envy Spa inked a 10-year lease for 2,598 square feet of space. Jeffrey Realty and RJ Brunelli Real Estate co-brokered the transaction. In the second lease, European Wax Center signed a 10-year deal for 1,522 square feet of space. Jeffrey Realty and RJ Brunelli Real Estate also co-brokered this lease. In the final transaction, Source Plasma Manufacturing leased 3,661 square feet of space for 11 years. Jeffrey Realty co-brokered the deal. Additional tenants at the center include Shop Rite, The Home Depot, Marshalls, Old Navy, AC Moore, The Avenue, Applebee’s, Ten Spot, GNC, Allstate and GameStop.
CEDAR HILL, TEXAS — Guitar Center has leased 13,349 square feet of junior anchor space at Cedar Hill Pointe, a retail center located at the northwest corner of Pleasant Run Road and U.S. Highway 67 in Cedar Hill. Steve Gray and Phillip Hooks of The Weitzman Group handled negotiations as leasing agents for the shopping center’s owner, along with Cole Burdette and Rob Franks of JLL. The new Guitar Center location is scheduled to open this fall. Other tenants in the shopping center include Jason’s Deli, Sherwin Williams, Sleep Number, FedEx Kinko’s, SAS Shoes and Fantastic Sams.
LAGUNA PARK, TEXAS — Marcus & Millichap has arranged the sale of a 9,100-square-foot retail building in Laguna Park net-leased to Dollar General. Thomas Costello of Marcus & Millichap’s office in The Woodlands secured the buyer, a private partnership. The property is located at Secunda Street and Highway 22.
LADY LAKE, FLA. — CBRE has brokered the $37.8 million sale of Rolling Acres, a 189,390-square-foot shopping center located along U.S. Highway 441 in Lady Lake. The property is anchored by TJ Maxx, Ross Dress for Less, Petco, Staples, Beall’s Outlet and Michaels. Outparcel tenants include Chick-fil-A, Outback Steakhouse and Carrabba’s Italian Grill. Cole Credit Property Trust IV Inc. purchased Rolling Acres from an affiliate of Sterling Global Financial Ltd. Dennis Carson and Casey Rosen of CBRE’s national retail investment group’s Florida team represented the seller in the transaction.