SAN DIEGO — The Plaza at the Border, a 98,000-square-foot retail center that’s situated along the U.S./Mexico border in the San Diego submarket of San Ysidro, has received a $23.5-million bridge loan. It is located at 3951-3975 Camino De La Plaza. The interest-only financing will replace a construction loan and cover the tenant improvement and leasing costs. The non-recourse, five-year, floating-rate loan was secured by HFF’s Aldon Cole, Tim Wright and Husayn Hasan on behalf of The Shamrock Group, LLC. Prime Finance served as the lender.
SAN DIEGO – A 5,000-square-foot retail building in San Diego’s Little Italy neighborhood has sold to H.G. Fenton Company for $3.3 million. The building is located at 1665 India Street. It is currently leased to Princess Pub & Grille. The seller, the Zolezzi Family Trust, was represented by Brian Jinings of Cassidy Turley San Diego.
CALABASAS, CALIF. — The Summit at Calabasas, a 71,770-square-foot retail center in the Los Angeles submarket of Calabasas, has received a $21.3-million loan. The center is located adjacent to the 101 Freeway. It is currently 95 percent leased to Maddy's Market, as well as a variety of restaurants and soft goods retailers. The new three-year, floating-rate loan contains two year-long extension options. The funds were arranged by Greg Richardson and Scott Watson of Johnson Capital’s Irvine office.
UNION CITY, GA. — RCG Ventures LLC has sold Shannon Square, a 100,000-square-foot shopping center at 4720 and 4700 Jonesboro Road in Union City for $8 million. The property is 95 percent leased and tenants include Hibbett Sports, Dollar Tree, Rent-A-Center, Farmer's Home Furniture and Dunkin' Donuts. The buyer was a private equity group. Drew Fleming and Mark Joines of Cassidy Turley represented the seller in the transaction.
SNELLVILLE, GA — Carmike Cinemas says construction will begin soon on a new 13-screen theater across from a 43-acre, open-air shopping center development known as The Avenue in Snellville. The Carmike 13 will seat 2,800 moviegoers and include the upgraded “BigD” auditorium with a larger screen, plush chairs and enhanced video and audio. The movie theater chain will also have a grand opening for a 12-screen theater March 7 in Decatur Mall on Beltline Road in Decatur.
NAPANOCH, N.Y. — Napanoch Valley Mall, located at 7500 Route 209, has sold for $5 million to Walmart Stores Inc.. The mall, which sits on a 20-acre site, will be redevelop into a 130,000-square-foot Walmart and include an adjoining 7,600-square-foot retail plaza. The Napanoch Post Office and three retail tenants will occupy the new space. Crossroads Cos. represented the seller, Napanoch Valley Mall LLC, in the deal. Tree Line Real Estate represented Walmart Stores. Located in western Ulster County, Napanoch is situated at the junction of Routes 209 and 55. The nearest retail centers are 40 minutes away in Middletown or Kingston.
THE WOODLANDS, TEXAS — Realm Realty has purchased a 1.79-acre site for a Walgreens in the Village of Creekside Park in The Woodlands. The new store will be located at the corner of Kuykendahl Road and New Harmony Drive, near the new Creekside Park Village Center. Construction for the store will begin within the next six months. The store will include a drive-thru pharmacy. Realm Realty was self-represented in the land transaction by Thomas McAlister and David Stern. Todd Edmonds of Colliers International represented the seller, The Woodlands Development Co.
CALABASAS, CALIF. — The Summit at Calabasas, a 71,770-square-foot retail center in the Los Angeles submarket of Calabasas, has received a $21.3-million loan. The center is located adjacent to the 101 Freeway. It is currently 95 percent leased to Maddy's Market, as well as a variety of restaurants and soft goods retailers. The new three-year, floating-rate loan contains two year-long extension options. The funds were arranged by Greg Richardson and Scott Watson of Johnson Capital’s Irvine office.
NEW PORT RICHEY, FLA. — Fairway-River Walk has acquired the 69,083-square-foot River Walk shopping center in New Port Richey for $8.4 million. The Publix-anchored center is 95 percent occupied and additional tenants include Subway, Chase Bank and Stassi's Italian Grill. The property is located at 11332 and 11400 Ridge Road. Mike Milano and Ron Schultz of Colliers International represented the seller, USA Real Estate Profit Funds III LP, in the transaction. The buyer was self-represented.
CUTLER BAY, FLA. — Marcus & Millichap has arranged the $4 million sale of Best Plaza, a 21,881-square-foot shopping strip at 197000 S. Dixie Highway in Cutler Bay. Major tenants include Sherwin Williams, Subway and FastSigns. Kirk Olson and Drew Kristol of Marcus & Millichap represented the seller, a Miami-based private investor, in the transaction. Olson and Kristol, along with Marcus & Millichap's Still Hunter and Evan Olson, also represented the buyer, a Brooklyn, N.Y.-based limited liability company.