SCARSDALE, N.Y. — NorthMarq Capital has arranged a $32 million loan for the refinancing of Midway Shopping Center, a 246,981-square-foot retail property at 1001 Central Park Ave. in Scarsdale. Major tenants at the site include Shop Rite, CVS/pharmacy, Jo-Ann Fabrics, The Dress Barn and Planet Fitness. Doug Austin of NorthMarq arranged the 15-year loan through a life company lender.
SPRING, TEXAS — RCG Ventures Fund II has sold a 45,222-square-foot retail property, located in Cypresswood Court in Spring. The property's tenants include Best Buy and Mattress Firm. Other tenants in Cypresswood Court include Target, Petco and Staples.
TORRANCE, CALIF. – Hawthorne Promenade, a 7,440-square-foot retail property in Torrance, has sold to Ron B. Tucker for $5 million. It is located at 20016 Hawthorne Blvd. The property is fully occupied by tenants like Trader Joe’s, Ross, Marshalls, Party City, Sears Outlet, David’s Bridal, Payless Shoes, Babies-R-Us, Office Depot and In-N-Out Burger. The seller, Hawthorne Promenade LLC, a subsidiary of Arenda Capital Management, LLC, was represented by Peter J. LundandScott Craneof NAI Capital’s West Los Angeles office.
ASHBURN, VA. — The Fresh Market will open a new location in Ashburn. The 23,000-square-foot specialty grocery store is set to break ground this month and will open this fall. This will be the first location for the specialty grocer in Loudoun County, Va. It will be located within One Loudoun, a 358-acre master-planned community featuring 1,040 homes and 702,000 square feet of retail space including fine dining and upscale shopping. One Loudoun Downtown LLC, a joint venture between Miller and Smith and North America Sekisui House LLC, is developing One Loudoun.
OAK BROOK, ILL. — Inland Real Estate Acquisitions and IREIT Business Manager & Advisor, on behalf of Inland American Real Estate Trust, have acquired retail assets in four states totaling $25.5 million. The properties include: Newington Fair, a 186,205-square-foot shopping center located in Newington, Conn., purchased for $17.2 million; and a portfolio of seven Dollar General stores, totaling approximately 63,000 square feet, located in Alabama, Georgia and Tennessee, purchased for $8.3 million. Lou Quilici, senior vice president of IREIT Business Manager & Advisor, facilitated the acquisition of Newington Fair. Joe Cosenza, president of Oak Brook-based Inland Real Estate Acquisitions, facilitated the purchase of the Dollar General stores.
RAYMORE, MO. — Sam’s Club has broken ground on a 136,085-square-foot grocery store at Raymore Galleria shopping center in Raymore just south of Kansas City. The store is scheduled to open this October. Sam’s Club is the newest tenant to the 400,000-square-foot shopping center located at Highway 58 and Dean Avenue. Kansas City-based Block & Co. Inc. is construction manager for the project.
MANKATO, MINN. — Marcus & Millichap has sold O’Reilly Auto Parts, an 8,343-square-foot property for $700,000 in Mankato, south of Minneapolis. The net-leased property is located at 510 Pfau St. Marcus & Millichap represented the buyer, an individual trust, and the seller, a private investor, in the deal.
EL PASO AND EDINBURG, TEXAS — Cinemark Holdings has plans to launch two new six-screen movie theaters in El Paso and Edinburg. The Cinemark Movie Bistro-Sunland Park, located at 750 Sunland Park Drive in El Paso, will be part of the Sunland Park Mall development. The Cinemark Movie Bistro-Edinburg, located on the northwest corner of Trenton Road and Rhonda Street in Edinburg, will be part of the Trenton Crossroads Plaza development. Both theaters are scheduled to open in the summer of 2013.
EL PASO, TEXAS — River Oaks Properties has purchased the 137,386-square-foot Coronado Shopping Center, a grocery-anchored center located in El Paso. River Oaks purchased the shopping center from Rich Development. The property is fully occupied by Anna's Linen, AutoZone, Big 8 Grocery, Dollar Tree, Eraser Dust, Harbor Freight, Goodwill, Sally Beauty Supply, Rent-A-Center and a Carl's Jr. pad site. River Oaks also acquired a Starbucks pad site in a separate transaction.
TORRANCE, CALIF. – Hawthorne Promenade, a 7,440-square-foot retail property in Torrance, has sold to Ron B. Tucker for $5 million. It is located at 20016 Hawthorne Blvd. The property is fully occupied by tenants like Trader Joe’s, Ross, Marshalls, Party City, Sears Outlet, David’s Bridal, Payless Shoes, Babies-R-Us, Office Depot and In-N-Out Burger. The seller, Hawthorne Promenade LLC, a subsidiary of Arenda Capital Management, LLC, was represented by Peter J. Lund and Scott Crane of NAI Capital’s West Los Angeles office.
