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.
FAYETTEVILLE, GA. — Nightingale Properties has acquired the 256,903-square-foot Banks Crossing, located at 134 Banks Crossing in Fayetteville, from Banks Crossing Associates for $19.5 million. JC Penney, Kroger, Guitar Center, Farmers House Furniture, CitiFinancial and Goodyear anchor the property, which is 97 percent leased. Whitney Knoll, Fred Victor, Mark Hillis and Andrew O' Brien of Newmark Knight Frank's Atlanta office represented the seller in the transaction.
ORLANDO, FLA. — A 14,490-square-foot Walgreens, located at 1835 W. Sand Lake Rd. in Orlando, has sold for $10.03 million. Lori Schneider of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, a local developer, in the transaction. The sales price is the highest amount paid for a Walgreens in the Southeast since 2010.
FAIRVIEW PARK, OHIO — Inland Real Estate Corp. has acquired Westgate Shopping Center, a grocery-anchored shopping center in Fairview Park, for $73.4 million. Recently, the 474,000-square-foot mall was converted from an enclosed to an outdoor mall. Tenants at the center include Lowe's Home Improvement, Kohl's and regional specialty grocer Earth Fare. It is currently 94 percent occupied. The company has also closed a 10-year, 4.9 percent fixed-rate mortgage loan of $40.4 million on the property.
AUSTIN — Austin-based KW Commercial has arranged the sale of a 9,750-square-foot retail and medical center, located at 12400 N. Interstate 35 in Austin. The tenants include Einstein Bagels, JuiceSpot, Austin Orthodontic and TechRidgeDental. Nick Nelson and Jim Young of KW Commercial represented the buyer, an out-of-state investor, in the transaction. Greg Porter of Austin-based MP Commercial Partners represented the seller.
MUSTANG, OKLA. — Kennedy Funding has completed the $3.47 million note purchase of a non-performing loan for the 88,999-square-foot Silver City Town Center, a retail center located in Mustang. The loan purchaser was a limited liability company, and the loan borrower was Silver City Town Center LLC. Under the terms of the agreement, the borrower can repurchase the loan. The retail center is 55 percent leased to tenants including Tractor Supply Co., Salvation Army, The Vine and Urgent Care. Taco Bell and KFC are leasing outparcels.
CHULA VISTA, CALIF. — Castle Park, an 87,103-square-foot, grocery-anchored shopping centerin the San Diego submarket of Chula Vista, has received $8.5 million in first-mortgage financing. Notable tenants at Castle Park include Save-A-Lot, Auto Zone, DD’s, Factory 2-U and Union Bank. The loan features a five-year term and a 25-year amortization schedule. Doug Austinof NorthMarq‘s San Diego regional officearranged the financing for Palomar Partners, PLthrough the firm’s relationship with Wells Fargo Bank.
INDIAN LAND, S.C. — York Development Group has selected Benning Construction Co. to build a 49,000-square-foot Publix at Cross Creek Shopping Center, located on Doby's Bridge Rd. in Indian Land, a suburb of Charlotte. In addition to Publix, Phase I of Cross Creek will include 30,000 square feet of retail space. Completion is slated for fall of this year.
WAUSAU, WIS. — Wausau-based Lokre Cos. has negotiated the $1 million sale of a 21,930-square-foot retail building in Wausau. Victor Anderson of Lokre Cos. represented the buyer, RS Holdings, in the transaction. Patrick Gallagher and Matson Holbrook of Siegel-Gallagher represented the seller.
MINNEAPOLIS — U Save Foods, a subsidiary of Minneapolis-based food distributor Nash Finch Co., has agreed to buy Bag 'N Save supermarkets in Omaha and York, Neb. While terms of the deal were undisclosed, the buyout will give Nash Finch 11 Bag 'N Save stores in the Omaha area and one in York. The deal is expected to close in the second quarter. Bag 'N Save is a family grocery chain founded in 1981.