SAN DIEGO — Regency Centers Corporation has purchased Balboa Mesa Shopping Center, a 189,321-square-foot, infill shopping center in San Diego, for $59.5 million. The Vons-anchored center is located at Balboa Avenue and Genesee Avenue. It is 95 percent leased. Other notable anchors include Kohl’s and CVS/pharmacy. The seller was Balboa Realty LLC.
Retail
ALPHARETTA, GA. — STORE Capital Corp. has completed a $19.2 million sale-leaseback with Tappan Street Restaurant Group (TSRG) for five Taco Mac restaurants in Georgia and North Carolina, as well as the company's corporate headquarters in Alpharetta. The properties were leased back to TSRG under a long-term, triple-net lease.
LADSON AND ROCK HILL, S.C. — Bryson Thomason Q10/Professional Mortgage Co. has secured a $5.1 million, fixed-rate loan on the 52,607-square-foot Ladson Crossing, a shopping center located on U.S. Highway 78 in Ladson. Additionally, Denton Burnette of Q10/Professional Mortgage Co. arranged a $6.3 million, non-recourse loan for a 71,700-square-foot Academy Sports + Outdoors store, located at 2468 Cross Pointe Drive in Rock Hill. The store is part of High Point Crossing, which will be a 200,000-square-foot shopping center.
CINCINNATI — Cincinnati's Asian Supermarket is undergoing a major expansion at its current location in the Village Crossing Center at 10400 Reading Road in Evendale. The market will expand to 30,812 square feet, nearly doubling its current size. The new international market is slated for completion prior to Christmas 2012. Cindy Metz of NAI Bergman negotiated the 11-year lease. The market includes produce, meat and fish from Japan, Korea, Vietnam, Thailand, India, the Philippines and Indonesia.
BOSTON — Rockland Trust has provided a $27 million loan for the acquisition of 801 Boylston St., a retail and office property in Boston. The buyer, Frazer Boylston Holdings, owns several other buildings in the Back Bay. Tenants at the property include Fidelity Investments and Siemens. Constructed in 2001, the 23,000-square-foot building features five floors of retail and office space, located near Prudential Tower and Newbury Street shops.
DALLAS — NorthMarq Capital has secured $8 million in acquisition financing for the 37,612-square-foot Knox Street Promenade, a retail/restaurant development housing six tenants located in Dallas. Phillip Bankhead of NorthMarq's Dallas office arranged the 15-year loan with a 30-year amortization schedule through a life insurance company.
PHOENIX – A 4,100-square-foot, single-tenant retail property in Phoenix that is triple-net leased to Wells Fargo has sold to 8155th Ave. LLC for $9.15 million. The property was built in 2008 at 32nd and Camelback Road. The buyer was represented by Andrew Greenberg of ERG Property Advisors. The seller, TradeCor LLC, was represented by Jereme Snyder and Eric Carlton of Colliers International.
VIRGINIA BEACH, VA. — Walmart has selected Satterfield & Pontikes Construction to build a $4.9 million, 45,000-square-foot Walmart Neighborhood Market, located at 3201 Holland Road in Virginia Beach. BRR Architecture will provide design and architectural services for the project and Kimley-Horn will be the engineer. Completion is slated for February 2013.
ROME, GA. — Franklin Street Real Estate Services has arranged the $1.16 million sale of an 8,000-square-foot Family Dollar, located in Rome. Mac McCall of Franklin Street represented the seller, a Chattanooga, Tenn.-based developer, in the transaction. The buyer was an Atlanta-based investment company.
PORT WASHINGTON, WIS. — 1021 Wisconsin LLC, an entity owned by a Wisconsin-based private investor, has acquired a 2,250-square-foot Pizza Hut property in Port Washington for $667,500. The building is located less than a mile south of I-43 and is adjacent to a Shopko Express. Jeff Rowlett and Jason Ladner of Marcus & Millichap represented the buyer in the transaction.