HUNTINGTON BEACH, CALIF. – HomeGoods has signed a 10-year lease for 24,160 square feet at the Sher Lane Shops in Huntington Beach. The community center is located at the southeast corner of Edinger Avenue and Sher Lane in Huntington Beach. HomeGoodsis expected to open in a former Office Depot building in spring 2013. Other notable tenants at the center include Men’s Wearhouse, Stone Hedge Tiles and Vitamin Shoppe. HomeGoods was represented by Anthony Mansour of the Clover Company. Present Value Properties is the exclusive representative for Sher Lane Shops. Sharon Courtway executed this lease transaction on behalf of the center.
HUNTSVILLE, ALA. — Capital Advisors has secured approximately $2.18 million in acquisition financing for a Romano's Macaroni Grill at 5901 University Drive in Huntsville. The 25-year loan carries a 25-year amortization schedule. The loan's 5.25 percent interest rate is fixed for 20 years and resets to market rate on its 20th anniversary. Cotten Volman of Capital Advisors' Birmingham office arranged the financing on behalf of the borrower, Second Florida BS Investments LLC, which was provided by Capital Advisors' correspondent lender, StanCorp Mortgage Investors LLC.
CHICAGO — Broadstone Net Lease (BNL) has acquired 11 Kentucky Fried Chicken restaurants throughout Chicago in a sale-leaseback transaction. All of the sites are master leased on an absolute net basis for 14 years. The acquisition is in line with BNL's strategy to grow its office, industrial and restaurant holdings. Since late June, the company has acquired 21 net leased properties for a combined $38.3 million.
COLUMBUS, OHIO — The Shoppes of Galloway, a 28,538-square-foot retail plaza in Columbus, has sold to a private group based in Youngstown, Ohio, for $3.3 million. The property was constructed in 2004 and is 90 percent occupied. Tenants include Chase Bank, Verizon Wireless and Great Clips. Dan Cooper of Cooper Commercial Investment Group represented the sellers, a private group based in CIncinnati. He also secured the buyers.
NAPERVILLE, ILL. — Property Dynamics has acquired a fully leased, 43,762-square-foot retail property in Naperville for $4.5 million. Tenants include The Title Shop and Buffalo Wings & Rings. Jeffrey Kowal of Edge Mark LLC represented the buyer in the transaction. The seller was Inland Hartford Plaza LLC.
NILES, ILL. — Private independent Asian buffet restaurant, Niles Buffet Inc., has signed a lease for 9,600 square feet at Dempster Plaza in Niles, a northern suburb of Chicago. The restaurant is taking the current Old Country Buffet space at the plaza, which is due to close at the end of the year. Niles Buffet plans to open in March 2013. Liz Krebs of Mid-America Asset Management Inc. represented the landlord in the transaction. Jack Siragusa of Cushman & Wakefield represented the tenant.
BROCKPORT, N.Y. — Calkain Cos. has arranged the $3.7 million sale of a 22,500-square-foot Tractor Supply store in Brockport. Tractor Supply is leasing the property on a long-term, triple-net basis. Andrew Fallon of Calkain Cos. represented the seller, a real estate investor and developer, in the transaction. The buyer is a private investor based in New York.
SHAWNEE, KAN. — QT226 LLC has secured a $1.6 million loan for the acquisition of a newly constructed QuikTrip store in the western Kanas City suburb of Shawnee. Caffrey & Co. arranged the 15-year loan through an undisclosed insurance company. The loan carries a 4.3 percent fixed rate for the life of the loan.
SAN DIEGO – Construction has commenced on The Headquarters, a $40-million, adaptive re-use and renovation of the Old Police Headquarters building in San Diego’s Seaport District. The new project will transform the building into a 100,000-square-foot retail, dining and entertainment destination. The space is located at 525 Pacific, adjacent to Seaport Village. The property was originally developed in 1939 and served as the San Diego Police Headquarters until 1987. The Headquarters is scheduled for completion in fall 2013. It is being developed by Terramar Retail Centers and built by Legacy Building Services.
NEW YORK CITY — Terroir Wine Bar restaurant has opened a new location at 284 Fifth Ave. in the Park Slope area of New York City. The self-proclaimed “elitist wine bar for everyone” occupies 2,200 square feet at the property, next to the restaurant Blue Ribbon. The wine bar is open every day and is comprised of 1,100 square feet on the ground floor and lower level. Mark Tergesen of ABS Partners Real Estate represented the tenant in the transaction.