GROVELAND, FLA. — Marcus & Millichap has brokered the $9.1 million sale of the 65,751-square-foot Eagle Ridge Shoppes, a shopping center anchored by Publix at 7975 State Rd. 50 in Groveland. Daniel Molloy of Marcus & Millichap's Atlanta office represented the seller, Groveland Associates, and Kirk Olson and Drew Kristol of Marcus & Millichap's Miami office represented the buyer, Coral Gables, Fla.-based Fraga Properties.
COLUMBIA AND SUMTER, S.C. — A 14,560-square-foot Walgreens property, located at 4469 Devine St. in Columbia, has sold for $3.3 million, and a 12,728-square-foot Rite Aid property, located at 375 Pinewood Rd. in Sumter, has sold for $2.65 million. Lori Schneider of Marcus & Millichap's Fort Lauderdale, Fla., office brokered the transactions.
FREDERICK, MD. — NorthMarq Capital has arranged $7.5 million in first mortgage financing for the 130,000-square-foot The Home Depot, located on West Patrick Street in Frederick. Deanna Polizzo and Ernest DesRochers of NorthMarq's New York City office arranged the financing with a 20-year term and a 20-year amortization schedule through ING Investment Management on behalf of the borrower, Golden Mile Real Estate. The Home Depot anchors the 602,000-square-foot Frederick Towne Mall, along with Boscov's Department Store and Hoyt Cinema.
AVON, OHIO — The Richard E. Jacobs Group has sold a retail location leased to AutoZone in Avon for $1.02 million. Mark Luttner of Luttner Real Estate Investment Services represented the seller in the transaction.
TRAVERSE CITY, MICH. — San Diego, Calif.-based Trigild has been selected as the asset manager for the 590,000-square-foot The Grand Traverse Mall, an enclosed mall in Traverse City. The firm's responsibilities include leasing space to tenants and planning a disposition strategy for a profitable sale. Trigild has selected Dallas-based Trademark Properties as the mall's property management firm. The enclosed mall is occupied by national tenants such as Macy's, JC Penney, Target and TJ Maxx.
WEBSTER — Scottsdale, Ariz.-based STORE Capital has purchased a 64,917-square-foot retail building, located at 1125 Magnolia Ave. in Webster, in a sale-lease back transaction with Carrollton-based Main Event Entertainment. Hunter Jaggard of Stan Johnson Co.'s Houston office represented the seller, and Derek Layne of Stan Johnson Co.'s Los Angeles office represented the buyer.
PORT ARTHUR — An east Texas-based individual investor has purchased a 33,134-square-foot property 100 percent leased to Family Dollar Stores, located at 230 Gilham Circle in Port Arthur, from Weingarten Realty Investors. Hunter Jaggard of Stan Johnson Co.'s Houston office represented the seller in the transaction.
LA VERNE, CALIF – The La Verne Towne Center has received two new tenants. Discount chain Marshalls celebrated its grand opening at the 226,872-square-foot shopping center on Oct. 13. Staples is set to open in 2012. The shopping center is owned by BIG Shopping Centers USA, which acquired the property in June 2010 through a joint venture with Kimco Realty Corporation.
NAPLES, FLA. — CBRE has arranged the $1.65 million sale of the 9,203-square-foot Bellagio Shoppes, located at 877 91st Ave. on Tamiami Trail in Naples. Larry Foster and Bill Young of CBRE's Naples office represented the seller, LBUBS 2006-C6 Tamiami Trail, and procured the buyer, Bellagio Naples.
LOS ANGELES — NorthMarq Capital has arranged a total of $22.7 million in financing for California-based retail properties and an industrial portfolio. The firm arranged $10.7 million for the Aspen Industrial/Flex Portfolio in Orange County, Calif., which totals 175,735 square feet of industrial/flex space. It was arranged by David Blum, senior vice president and senior director of NorthMarq’s Los Angeles regional office. The firm also arranged $10 million for City Center, a 116,781-square-foot, grocery-anchored retail center in Lake Elsinore, Calif., and $2 million for Selma Square, a 27,100-square-foot retail center in Selma, Calif. Michael Elmore, executive vice president and managing director, and David Blum, senior vice president, of NorthMarq’s Los Angeles office arranged the first-mortgage financing on behalf of of the borrower.
