WEST ORANGE, N.J. — Marcus & Millichap has brokered the sale of a retail property located at 640-642 Eagle Rock Ave. in West Orange. The 11,348-square-foot property sold for $2.7 million. Michael Lombardi of Marcus & Millichap represented the seller, a private investor, and Michael Rothstein, also of Marcus & Millichap, represented the buyer, a private investor, in the all-cash 1031 exchange.
SEATTLE — A four-property retail portfolio in Seattle has received $64 million in financing. The transaction includes acquisition financing for a 49,000-square-foot shopping center in Bellevue that is anchored by Walgreens and Trader Joe’s. It also allowed the borrower to refinance Mill Creek Town Center, a 182,000-square-foot, grocery-anchored lifestyle center in Mill Creek, as well as two retail properties in Kirkland and Bellevue. The fully amortizing, cross-collateralized loans were arranged by Mike Taylor and Patrick Taylor of Newmark Realty Capital. The loans were placed through a relationship with one of Newmark’s correspondent life insurance companies.
CHICAGO — Marcus & Millichap has brokered the $4.9 million sale of a 9,217-square-foot retail property in Chicago. The property is located at 1250 S. Michigan Ave. Located in Chicago’s South Loop, the multi-tenant retail property is situated on the ground floor of a 29-story condominium tower. Sean Sharko, Alan Katamanin and Austin Weisenbeck of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a limited liability company, and the buyer, another limited liability company.
DENTON, TEXAS — H&M, Hennes & Mauritz AB (H&M), a fashion retailer, will open a new location in Denton. The 23,000-square-foot property is located at the Golden Triangle Mall and is set to open this fall. H&M currently operates 14 locations in the state of Texas. With the opening of the Golden Triangle Mall store, H&M will add about 30 people its estimated total of 15,000 U.S. employees. H&M operates 364 locations across the country.
COON RAPIDS, MINN. — Title Boxing Club has signed a lease for 4,168 square feet at Shoppes at Riverdale Commons II located in Coon Rapids. The 32,451-square-foot center is located on Riverdale Boulevard and features a FedEx Kinko’s, Five Guys, Potbelly, AT&T and Cherry Berry. Mid-America’s project leasing team represented the landlord in the transaction.
CHICAGO — Chicago Real Estate Resources has arranged the sale of a retail property in Chicago. The three storefronts totaled 3,828 square feet, two of which were leased at the time of sale to Snippet’s Mini-Cuts and Edible Arrangements. The property is located at 3722-26 N. Southport Ave., in Lakeview’s Southport Retail Corridor Nate Gautsche of Chicago Real Estate Resources’ commercial office represented the local buyer in the acquisition of the value-add retail property.
WYLIE, TEXAS — Marcus & Millichap has arranged the sale of 1st Wylie Shopping Center, a 12,115-square-foot retail property located in Wylie. Jason Vitorino of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Wayne Bares, also of Marcus & Millichap’s Dallas office, procured the buyer, a local partnership. 1st Wylie Shopping Center is located at 620 N. Highway 78, southwest of East Brown Street. The property includes three freestanding, multi-tenant buildings and is situated on 1.5 acres along a major retail corridor for the city of Wylie. At the time of listing, tenants included Domino’s Pizza, Jackson Hewitt Tax Service, Diamond Nails & Spa and several others.
HUNTSVILLE, ALA. — Inland Real Estate Corp. has purchased Westbury Square, a 115,000-square-foot shopping center in Huntsville, for $23.4 million in cash. The center is located at the intersection of Highway 53 (Memorial Parkway South) and Airport Road. Westbury Square was fully leased at the time of sale to tenants such as Stein Mart, TJ Maxx, Michaels, Jimmy John’s, Moe’s Southwest Grill, Jenny Craig and BB&T. The center is the publicly traded REIT’s fourth acquisition in the Southeast in the past 15 months.
ATLANTA — Marcus & Millichap has brokered the $6.4 million sale of the retail component of Windsor Glenridge Springs, a mixed-use development located at 5610 Glenridge Drive in Atlanta. The retail component totals roughly 20,000 square feet and is leased to tenants such as Sushi Nami, Blue Moon Pizza and Firehouse Subs. Built in 2011, Windsor Glenridge Springs also includes 168 luxury apartment residences, which were not part of the transaction. Craig Johnson and Tim Giambrone of Marcus & Millichap’s Atlanta office represented the buyer, an unnamed investment firm based in California.
GRAND CHUTE, WIS. — Mid-America Real Estate Corp. has brokered the $12.2 million sale of Fox River Commons located in Grand Chute. Bloomfield Hills, Mich.-based Agree Realty Corp. purchased the 78,977-square-foot asset, which is located at the northwest corner of Casaloma Drive and College Avenue. Bed, Bath & Beyond, Barnes & Noble, Old Navy and DressBarn anchor the shopping center. Carly Gallagher of Mid-America Real Estate Corp., in cooperation with Dan Rosenfeld of Mid-America Real Estate – Wisconsin LLC brokered the transaction on behalf of the seller, a private investor group represented by Oak Brook, Ill.-based Inland Private Capital.
