FLINT, MICH. — Great Neck, N.Y.-based Namdar Realty Group has acquired Eastridge Commons, a 169,676-square-foot shopping center in Flint, for an undisclosed amount. The shopping center's anchors include T.J. Maxx, Dollar Tree and Party City. Ben Wineman and Daniel Stern of Mid-America Real Estate Corp. represented the seller, Farmington Hills, Mich.-based Ramco-Gershenson Properties Trust, in the transaction. The buyer was self-represented.
MAYWOOD, ILL. — A London-based private investor has purchased a triple-net leased White Castle property in Maywood for $838,700. White Castle is the sole occupant of the 1,400-square-foot retail building, which is located at 211 W. Roosevelt Rd. The company has 10 years remaining on its lease. Randy Blankstein and Jimmy Goodman of the Northbrook, Ill. office of The Boulder Group represented the seller, a Chicago investment firm.
NEW YORK CITY — New York City-based Modell's Sporting Goods recently opened three new locations in New York and New Jersey. The company opened a 13,000-square-foot store at 61-09 190th St. in Fresh Meadows, N.Y. and a 15,900-square-foot store at 1584 Flatbush Ave. in Brooklyn. The third location is a 16,700-square-foot store at 1607 State Route 23 in Wayne, N.J. Modell's offers the top brands in sporting goods equipment, footwear and active apparel. The retailer operates 150 stores in the Northeast.
RIVERSIDE, CALIF., SALT LAKE CITY — The Alison Company’s Shaun Moothart has arranged $4.2 million in financing for three Western-based single-tenant properties. This included two retail buildings in Riverside that are currently occupied by Rite-Aid and a newly built office building in Salt Lake City that is occupied by a government agency. Loan terms range from 20 to 25 years with 25-year amortization schedules. Interest rates are in the low 5 percent range. All three loans were placed with correspondent lenders by the Alison Company, which will service the loans.
WOODSTOCK, GA. — A single-tenant, triple-net leased National Tire and Battery Auto Parts, located at 2010 Eagle Dr. in Woodstock, has sold for $2.5 million. The tenant is the sole occupant of the 7,383-square-foot building. Randy Blankstein and Jimmy Goodman of Northbrook, Ill.-based The Boulder Group represented the buyer, a high net worth family office, in the transaction. The seller was a Southeast-based developer.
CINCINNATI — Oak Brook, Ill.-based Inland Real Estate Corp. has purchased Stone Creek Towne Center in Cincinnati for $36 million. The 143,000-square-foot property is anchored by Best Buy, Bed Bath & Beyond and Old Navy. Ben Wineman of Mid-America Real Estate Corp. and Amy Holter of Anchor Associates represented the seller, a joint venture between Bellevue, Ky.-based Brandicorp and Trinity Development Co. of Knoxville, Tenn. Inland Real Estate was self-represented.
OMAHA — Pace Financial Group has arranged $4.5 million in permanent financing for a build-to-suit CVS, located at 2609 S. 132nd St. in Omaha. A correspondent life insurance company funded the 25-year loan. Jamison Whiston of Pace Financial's Nebraska office arranged the financing. The buyer is a family trust.
NEW YORK CITY — BLDG Acquisition Group has purchased a 3,469-square-foot retail condominium at 127 Seventh Ave. in Chelsea for $6.6 million. The condominium is fully leased to CORE Marketing Group. Jeff Fishman, Brian Segall and Jonathan Butwin of RKF represented the buyer in the transaction. They also represented the seller, Yves Retail. The condominium is located within the Yves, a 14-story residential building.
NEW YORK CITY — DWS, a footwear and accessories retailer, has opened a new store at 34th Street in Manhattan. The company also announced plans to open a store on the Upper West Side at 79th and Broadway this summer. At more than 33,000 square feet, the 34th Street store is one of the largest in the DSW chain. It includes three floors of retail space. The DWS store opening at 79th and Broadway will total 32,000 square feet.
ARLINGTON — Mace Security International has disposed of a car wash facility, located in Arlington, for $2.1 million. Mace Security netted approximately $1.57 million after closing costs and paying off the related mortgage debt of $512,000. Mace now owns one car wash facility and leases one in Texas, which the company is seeking to dispose in keeping with its strategic departure from the car wash business.
