LOS ANGELES — DJM Capital Partners has received $185 million that will be used to recapitalize its four-property Southern California retail portfolio. The Class A shopping centers that received loans include La Habra Marketplace in La Habra for $70.6 million;Village Del Amo in Torrance for $40.2 million;Montalvo Squarein Ventura for $42.2 million; and Lakewood Square in Lakewood for $32 million. The portfolio loan allowed DJM to secure long-term, fixed-rate financing on these core assets. The funds will be used to pay off existing senior loans, mezzanine loans and defeasance costs. The funds were arranged by Steve Bram, David Pascale and Ari Shram ofGeorge Smith Partners.
ORLANDO AND FERNANDINA BEACH, FLA. — The Shopping Center Group has brokered the sale of two retail properties in Orlando and Fernandina Beach. The 100,385-square-foot Millenia Crossing in Orlando sold for $34.5 million. The Orlando retail property was built between 2009 and 2012, and is anchored by Nordstrom Rack. It is situated in front of the only IKEA store in the Orlando MSA and is 100 percent leased. The Shopping Center Group represented the seller, an affiliate of Madison, Wis.-based EJ Plesko and Associates. An affiliate of The Morris Companies of New Jersey acquired Millenia Crossing. Additionally, the 53,144-square-foot The Shops at Amelia Market in Fernandina Beach in the Jacksonville, Fla., area sold for an undisclosed price. The retail property is located in the heart of Amelia Island and anchored by the only Harris Teeter grocery store in Florida. It was built in 2000 and is 91 percent leased. The Shopping Center Group represented the seller, EDENS. An Atlanta-based affiliate of The Simpson Organization acquired The Shops at Amelia Market.
HANOVER COUNTY, VA. — Rutland Commons, an approximately 110,000-square-foot, Kroger-anchored shopping center at 9351 Atlee Rd. in Hanover County, has sold for $7.1 million. The Rebkee Company purchased the retail property, and Connie Jordan Nielsen and Nicki Jassy of Cushman & Wakefield/Thalhimer represented the company in its purchase. It was purchased from Crosland Rutland LLC as an investment. Jassy and Pam Strieffler, also with Cushman & Wakefield/Thalhimer, have been selected by Rebkee as the exclusive leasing agents for the shopping center.
SHIPPENSBURG, PA. — WRDC has acquired the Shippensburg Shopping Center, a 142,965-square-foot property on Walnut Bottom Road in Shippensburg. Chad Stine and Brad Rohrbaugh of Bennett Williams represented the seller, Hill Management, in the transaction.
LOS ANGELES — DJM Capital Partners has received $185 million that will be used to recapitalize its four-property Southern California retail portfolio. The Class A shopping centers that received loans include La Habra Marketplace in La Habra for $70.6 million; Village Del Amo in Torrance for $40.2 million; Montalvo Square in Ventura for $42.2 million; and Lakewood Square in Lakewood for $32 million. The portfolio loan allowed DJM to secure long-term, fixed-rate financing on these core assets. The funds will be used to pay off existing senior loans, mezzanine loans and defeasance costs. The funds were arranged by Steve Bram, David Pascale and Ari Shram of George Smith Partners.
SAN DIEGO — Bridgeworks Retail, an 18,569-square-foot retail condominium located in San Diego’s Gaslamp Quarter, has sold to Paragon Real Estate Fund for an undisclosed sum. The property is located at 224-238 5thAve. It is fully leased to tenants like Lou & Mickey’s restaurant, MAC, Toscana Caf
ATLANTA — Phillips Edison-ARC Shopping Center REIT Inc. has purchased six grocery-anchored shopping centers totaling 507,668 square feet in metro Atlanta for approximately $60.5 million. The retail portfolio includes five Kroger-anchored properties and one Publix-anchored property. The six properties are Butler Creek in Acworth, Ga.; Fairview Oaks in Ellenwood, Ga.; Grassland Crossing in Alpharetta, Ga.; Hamilton Ridge in Buford, Ga.; Mableton Crossing in Mableton, Ga.; and Shops at Westridge in McDonough, Ga. The REIT is co-sponsored by Phillips Edison & Co. and AR Capital LLC, a real estate investment program sponsor.
FORT MYERS, FLA. — Fort Myers-based J.L. Wallace Inc. has completed renovations on Victory Lane Chevrolet at 3980 Fowler St. in Fort Myers. The renovations consisted of a new exterior facade and interior renovations to the new car showroom, used car building, new service drive entrance and office, lounge and administrative offices. All renovations are in compliance with General Motors Chevrolet Dealership Re-Image Program. Ted Gadoury of J.L. Wallace served as project manager. Titsch & Associates Architects served as the project architect.
AUSTIN, TEXAS — The Weitzman Group has arranged the sale of the 39,739-square-foot Highland Commons, a shopping center located at the northeast corner of Airport Boulevard and Koenig Lane in Austin. The shopping center includes a 27,096-square-foot Spec's Wine, Spirits & Finer Foods as the anchor, along with Kick Butt Coffee, Eyemart Express, Highland Donuts, Whitehead Chiropractic and Y2K Nails. Brad Bailey of The Weitzman Group represented the seller, Westwood Financial Corp., in the transaction. Ben White of Durham & Bassett represented the buyer, a private investor from Houston.
SAN DIEGO — Bridgeworks Retail, an 18,569-square-foot retail condominium located in San Diego’s Gaslamp Quarter, has sold to Paragon Real Estate Fund for an undisclosed sum. The property is located at 224-238 5th Ave. It is fully leased to tenants like Lou & Mickey’s restaurant, MAC, Toscana Café and Chuck Jones Gallery. Paragon Real Estate Fund is managed by Roberto Jinich, Ricardo Jinich and Dan Berkus. The seller, an affiliate of S.D. Malkin Properties, was represented by HFF’s Ryan Gallagher, CJ Osbrink, Tim Wright and Zack Holderman.