MINNETONKA, MINN. —Minnesota Tile & Stone plans to open a new, 40,000-square-foot facility in Minnetonka on April 2. The building is a tile and stone retail and fabrication facility. Alan Dale, company owner, paid $7 million to purchase and rebuild the property. Minneapolis-based Tanek Inc. designed the facility and RJ Ryan of Mendota Heights, Minn. handled the construction.
DALLAS — NorthMarq Capital has secured $3.55 million in first mortgage financing for the 55,411-square-foot Maplewood Retail, located at 2515 Inwood Road in Dallas. Bart Dickinson of NorthMarq's Dallas office arranged the 25-year, fully amortized loan through StanCorp Mortgage Investors.
PORT CHARLOTTE, FLA. — NorthMarq Capital has arranged $9.6 million in first mortgage refinancing for the 139,903-square-foot Heritage Plaza, a shopping center located at 18500-18714 Veterans Blvd. in Port Charlotte. David Garfinkel of NorthMarq's St. Louis office, along with Robert Hernandez of the firm's Tampa office, arranged the 15-year, fully amortized loan through a correspondent life company.
WESTLAND, MICH. — Dollar Tree has signed a new 10,000-square-foot lease in Wildwood Plaza, located at 34250 Ford Rd. in Westland. Jack Uhazie of the West Bloomfield, Mich. office of Mid-America Real Estate-Michigan represented the tenant in the transaction. Adam Goodman of Mid-America Real Estate-Michigan represented the landlord, Wildwood Properties, in the transaction.
ROWLETT — American Realty Capital — Retail Centers of America has entered into an agreement to purchase the 105,861-square-foot Liberty Crossing Shopping Center, located in Rowlett, for $22.2 million, excluding closing costs. The property is 95 percent leased to 16 tenants, which include Ross Dress for Less, PetSmart and Dollar Tree. In addition, the buyer recently broke escrow and issued shares of common stock to American Realty Capital IV, its sponsor, which purchased $2 million of the company's stock.
PLANO — H Mart has leased 72,267 square feet of anchor space at Parker Towne Centre, a community shopping center located at 3220 K Ave. in Plano. The shopping center will be rebranded as the Super H Mart Towne Centre. Sungju Choi of Carrollton-based Dallas Realty represented the tenant in the lease transaction. The landlord, Dallas/Fort Worth-based Retail Plazas, was self-represented by Cory McCord and Earl Harris of The Weitzman Group's Dallas office.
GARLAND — Addison-based Razzoo's has opened a new 6,500-square-foot Razzoo's Cajun Cafe at the Firewheel Town Center, an open-air shopping center located on the northeast corner of the President George Bush Turnpike and Highway 78 North in Garland that features anchors Macy's, Dillard's and an AMC Movie Theatre. The restaurant is the company's 14th location in Texas. Dallas-based Zero 3 designed the restaurant while Lewisville-based Strong Group served as the contractor. Brian Glaser of The Weitzman Group's Dallas/Fort Worth office represented the tenant in the lease transaction.
ALCOA, TENN. — Oak Brook-Ill.-based Inland Diversified Alcoa Hamilton LLC has acquired the 175,996-square-foot Hamilton Crossing, located in Alcoa, from Alcoa-based Hamilton Crossing I for $31.27 million. Dick's Sporting Goods, Ross Dress for Less, Michael's, PetSmart and Old Navy anchor the center. Berkeley Capital Advisors represented the seller in the transaction.
SNELLVILLE, GA. — Benning Construction Co. has been selected to build a 42,000-square-foot, freestanding Walmart Neighborhood Market, located at 2912 W. Main St. in Snellville. Completion is slated for fall 2012. Currently, there are more than 160 Walmart Neighborhood Markets in the United States.
BIRMINGHAM, ALA. — Mercy Medical has signed a 45,540-square-foot lease at a former Havertys store, located off of Interstate 20 in Birmingham. Mercy Medical will renovate the freestanding building and use it for a seniors medical clinic and physical therapy center beginning in late fall. Michael Bull, Theresa Johnson and John Harrison of Atlanta-based Bull Realty represented the landlord, Havertys, in the transaction. Craig Dyas of Fairhope, Ala.-based DYAS represented the tenant.