Retail

WOODMERE, N.Y. — Houlihan-Parnes Realtors LLC and Q10 New York Realty Advisors LLC have arranged a $45 million first mortgage on the Five Towns Shopping Center in Woodmere. The interest-only, 10-year loan includes a fixed rate of 3.4 percent. A national lender provided the nonrecourse financing. The 500,000-square-foot center is located at 253-01 Rockaway Blvd., about 15 miles east of Brooklyn. Tenants at the retail property include Lowe’s Home Center, K-Mart, T.J. Maxx, Conway, The Children’s Place, T-Mobile and Applebee’s, as well as a new Walmart Marketplace and Modell’s. Jim Houlihan, Mike O’Neill and Bryan Houlihan of Houlihan-Parnes placed the loan. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP represented the borrower in the transaction.

NEW YORK CITY— Cohen Commercial Properties (CCP) has purchased 1800 Williamsbridge Road, a 12,212-square-foot, net leased retail property in the Bronx, for $11.4 million. The seller was Rock City MC LLC. The two-tenant property was fully occupied at the time of sale by a 4,669-square-foot Citibank and a 7,543-square-foot Walgreens. CCP was self-represented by Sam Catton and Paul Trupia in the transaction.

HOWELL, N.J. — Construction on Tropicana Power Retail Center, a 289,000-square-foot retail center in Howell, will begin in the third quarter. The development is located at 5313 Route 9 and will complement an existing 800,000 square feet of retail space, also along the Route 9 corridor. The owner of the property, AAM Mill LLC, which owns more than 10 million square feet of retail, commercial and residential properties in the U.S., Europe and Morocco, says funding was provided in-house. All options for tenancy at the center are open. Sitar Co. is handling leasing for the project.