REHOBOTH BEACH, DEL. — Unfinished Business has opened its 2,190-square-foot community thrift shop at 18389 Olde Coach Drive in Rehoboth Beach, located about 18 miles east of Georgetown. The store provides used clothing, furniture and household items at discounted prices. Ann Bailey CCIM, lead broker in NAI Emory Hill’s Lewes office, represented the landlord, Colonial East LP, in the transaction.
SAN DIEGO — Hawthorne Crossings, a 141,288-square-foot community shopping center in the San Diego submarket of Kearny Mesa, has sold to Retail Opportunity Investments Corp. for $41.5 million. The grocery-anchored center is located at 4200-4380 Kearny Mesa Road & 8055 Armour Street. Notable tenants at the center include Ross Dress for Less, Staples, Mitsuwa Marketplace, Dollar Tree, Sleep Train and Starbucks Coffee. Pete Bethea, Glenn Rudy and John Jennings of Cushman & Wakefield’s Capital Markets Group represented both the buyer and the seller, American Fund US Investments LP, in this transaction.
THE WOODLANDS, TEXAS — Jones Jazzy Java and Dr. Alfred’s Hotdog Stand have recently leased two separate concession stands with The Woodlands Development Co. (TWDC) at Waterway Square along the Woodlands Waterway in The Woodlands Town Center. Jones Jazzy Java is owned by Shawn and Tricia Jones and offers New Orleans’ style cuisine. V.VJ Enterprise, owned by Dr. Alfred Limani and Viosa Berisha, offers Chicago-style hot dogs and ice cream at Dr. Alfred’s Hotdog Stand.
TUSTIN, CALIF. – A 126,761-square-foot neighborhood shopping center in Tustin has received $34.5 million in permanent financing. The grocery-anchored center is located on a 13.6-acre site at Jamboree Road and Irvine Boulevard. The center is fully leased to tenants like Ralphs and Rite-Aid. The non-recourse loan has a 15-year term with an initial interest-only period, after which it amortizes on a 30-year schedule. It was provided by Prudential Mortgage Capital Corporation and arranged by Richard Caterina of Johnson Capital’s San Diego office.
DECATUR, ALA. — Cole Real Estate Investments has purchased Decatur Commons shopping center for $13.2 million. The property totals 125,211 square feet and is located at 1605 Beltline Road in Decatur. Its anchors include Publix, Petco and Goody’s. Occupancy was 86 percent at the time of closing. Drew Fleming and Mark Joines of Cassidy Turley represented the undisclosed seller in the deal.
PELL CITY, ALA. — Southpace Properties has brokered the sale of The Shoppes of Pell City for $3.2 million. The recently redeveloped shopping center totals 58,332 square feet. Its current tenant roster includes Goody’s, Badcock Furniture and Burke’s Outlet. Michael Randman and Anne Michaels of Southpace Properties represented the seller, Second Street LLC. Andrew Patterson of Shannon-Waltchack represented the buyer, SW Holdings II LLC.
FARMINGTON HILLS, MICH. — Bernard Financial Group has arranged an $8 million loan for Halsted Village, a 137,801-square-foot retail property in Farmington Hills. Halsted Village LLC is the borrower, and Dennis Bernard and Kevin Kovachevich of Southfield, Mich.-based Bernard Financial Group originated the loan. Wells Fargo is the lender.
INDEPENDENCE, MO. — Northern Tool + Equipment has signed a 16,665-square-foot lease at 4023 S. Noland Road in Independence, an eastern suburb of Kansas City. The store will be Northern Tool’s third Missouri location. Earlier this year, the retailer opened two St.-Louis area stores in St. Peters and Arnold. Clay Mote of Dallas-based Venture Commercial worked with Kansas City-based X Team partner Tom O’Leary of LANE 4 Property Group in the negotiation of Northern Tool’s 10-year lease.
TUSTIN, CALIF. – A 126,761-square-foot neighborhood shopping center in Tustin has received $34.5 million in permanent financing. The grocery-anchored center is located on a 13.6-acre site at Jamboree Road and Irvine Boulevard. The center is fully leased to tenants like Ralphs and Rite-Aid. The non-recourse loan has a 15-year term with an initial interest-only period, after which it amortizes on a 30-year schedule. It was provided by Prudential Mortgage Capital Corporation and arranged by Richard Caterina of Johnson Capital’s San Diego office.
MIRAGE, CALIF. — The Silver Group has arranged the sale of eight single-tenant buildings, seven of which are occupied by AmeriTitle Inc. and one that is leased by Roy's Hawaiian Fusion Cuisine. The AmeriTitle properties are located in McCall, Idaho; and Ashland, Albany, Medford, Prineville, Redmond and Salem, Ore. The 7,780-square-foot Roy's Hawaiian Fusion Cuisine is situated on about 1.6 acres in Mirage, Calif. Roy's has 19 years remaining on its lease, which is guaranteed by Roy's parent company, Bloomin' Brands Inc. Barry Silver with The Silver Group represented the sellers in the transactions. The Silver Group is also marketing for sale 22 single-tenant properties leased to AmeriTitle that are located throughout the Pacific Northwest.