Retail

FLORIDA AND ALABAMA — CBRE Capital Markets has arranged approximately $60.1 million in financing for the acquisition of seven shopping centers in Florida and the refinance of a 135,000-square-foot Lowe’s Home Improvement in Opelika, Ala. on behalf of H&R REIT. The Florida properties include: The Shops at Mission Trace in St. Augustine, Fla. Corridors at Ponte Vedra in Ponte Vedra Beach, Fla. First Merritt Center in Merritt Island, Fla. Mandarin Oaks in Jacksonville, Fla. Publix at Holly Hill in Daytona, Fla. Publix at Summer Bay in Clermont, Fla. Regency Village in Orlando, Fla. The purchase price for the seven Florida shopping centers totals $80.4 million. Six of the seven shopping centers are anchored by Publix. Corridors at Ponte Vedra is anchored by Fresh Market. H&R REIT is a Toronto Stock Exchange listed, open-ended real estate investment trust.

SLIDELL, LA. — Stirling Properties and CBL & Associates Properties Inc. have formed a 35/65 joint venture to develop Fremaux Town Center in two phases at Interstate 10 and Fremaux Avenue in Slidell. Phase I will include approximately 295,000 square feet with anchors Dick’s Sporting Goods, Michaels, TJ Maxx and Kohl’s. Additionally, Phase II will include up to 300,000 square feet of retail space. Construction on Phase I will begin in March and the grand opening is scheduled for the second quarter of 2014. Fremaux Town Center is more than 70 percent leased.

GREENVILLE, S.C. — Cabela’s Inc., an outdoor sporting retailer based in Sidney, Neb., will open a 100,000-square-foot store in spring 2014 at Menin Development’s Magnolia Park in Greenville. It will be the first Cabela’s store in South Carolina. The building’s exterior will include log construction, stonework, wood siding, metal roofing and a large glass storefront. Magnolia Park, formerly the Greenville Mall, consists of more than 500,000 square feet of retail and entertainment space on 85 acres. Tenants include Costco, Regal Cinemas, Rooms to Go, Old Navy, Bed Bath & Beyond and Toys “R” Us/Babies “R” Us. Currently, Cabela’s operates 40 stores across the United States and Canada.

MIAMI — A 24,894-square-foot Office Depot near Miami International Airport has sold for approximately $6.6 million. Scott Sandelin of Marcus & Millichap’s Miami office represented the seller, a New York-based real estate investment trust, and the buyer, a limited liability company based in Canada. The Office Depot store is strategically located at the entrance of the Miami International Airport at 3600 LeJeune Rd. in Miami.