ALISO VIEJO, CALIF. – A two-story, 16,840-square-foot retail building in Aliso Viejo has sold to Aliso Viejo Town Center, LLC for $6.7 million. The free-standing building is located at 26731 Aliso Creek Road within the Aliso Viejo Town Center. It is 93 percent occupied by tenants like Stadium Brewing Company. Dennis Vaccaro and Christopher Tramontano of Faris Lee Investments represented both the buyer and the seller, Aliso Viejo Investors, LLC, in this transaction.
CHULA VISTA, CALIF. — L Street Self Storage Park, an 86,770-square-foot self-storage facility in Chula Vista, has received $6.3 million in permanent financing. The non-recourse loan features a 10-year term with a 30-year amortization period. It was arranged by James Dick of Newmark Realty Capital.
IRMO, S.C. — Phillips Edison — ARC Shopping Center REIT has acquired a portfolio of three grocery-anchored shopping centers in Florida, South Carolina and Texas. The company acquired the 64,359-square-foot Murray Landing shopping center in Irmo, S.C., approximately 12 miles northeast of Columbia, S.C. The fully occupied center is anchored by a Publix grocery store, which is leasing the property through 2023. Phillips Edison also purchased the 62,821-square-foot Vineyard Center in Tallahassee. The center is also anchored by Publix, which is leasing the property through 2022. The final property is the 148,963-square-foot Kleinwood Center in Spring, Texas, which is anchored by an H-E-B grocery store.
ORLAND PARK, ILL. — Lowe’s Retail Center, a 9,338-square-foot retail property in Orland Park, has sold for $3.9 million. The triple-net-leased property, which is located at 15619 S. La Grange Road, is fully occupied. Brian Parmacek and Stephen Rachman of Marcus & Millichap represented the seller, a developer, in the transaction. Steve Livaditis of Marcus & Millichap represented the buyer, a long-term apartment investor. Jim Sotos of Marcus & Millichap Capital Corp. secured the 10-year acquisition loan for the property.
SPRING, TEXAS — Marcus & Millichap has brokered the sale of an 82,952-square-foot retail building leased to The Antique Gallery of Houston in Spring. The store is located at 21127 Spring Towne Drive. The property's list price was $2.875 million. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, a partnership, in the transaction. Goldstein also secured and represented the buyer, a private investor.
THE WOODLANDS, TEXAS — Cycles TX has plans to open its first bicycle and accessories store in Texas at The Waterway Square District in The Woodlands Town Center. The store will be located at 1501 Lake Robbins Drive in The Waterway Square parking garage. Brent Everson of Everson Developments LLC represented Cycles TX in the lease transaction. Rip Reynolds of The Howard Hughes Corp. represented the landlord, The Woodlands Development Co., a subsidiary of The Howard Hughes Corp.
CHULA VISTA, CALIF. — L Street Self Storage Park, an 86,770-square-foot self-storage facility in Chula Vista, has received $6.3 million in permanent financing. The non-recourse loan features a 10-year term with a 30-year amortization period. It was arranged by James Dick of Newmark Realty Capital.
WEST COVINA, CALIF. – A 42,000-square-foot Ashley Furniture HomeStore has opened at Eastland Center in West Covina. The stand-alone building was previously occupied by Babies “R” Us. It is located 2753 E. Eastland Center Drive. Ashley was represented by Hodgdon Realty Group and Cole Real Estate Investments in this lease transaction. The Hodgdon Group also handled the entitlements and served as the design-build contractor on the building.
NEW YORK CITY — Stan Johnson Co. has completed the sale of a retail development property for $8.4 million. The property is fully leased to Bank of America and is located at the intersection of 18th Avenue and 66 Street in Brooklyn. Nearby tenants include Walgreens, CVS/pharmacy, TD Bank, Chase Bank, McDonald’s and Starbucks. Jason Maier of Stan Johnson Co. represented the seller, a private corporation, and the 1031 tax-deferred exchange buyer, an individual investor, in the transaction. The property is slated for completion by mid-year 2013.
ROANOKE, TEXAS — NorthMarq Capital has arranged a $13.9 million refinancing for Roanoke Crossing Shopping Center, a 78,222-square-foot retail center located at 101 E. Highway 114 in Roanoke. Walmart and The Home Depot anchor the center, but neither are part of the collateral. Other tenants include Dickey's BBQ Pit, Payless, Shoe Source and Subway. JP Morgan Chase, Just Brakes, Chili's, Sonic, Taco Bueno, Wells Fargo Bank and Wendy's occupy the seven pad sites. John Stewart and Ilan Reissner of NorthMarq Capital arranged the financing for the borrower, a national account.