MT. DORA, FLA. — Scott DeVinney of Northmarq's Rochester, N.Y., office has secured a 5-year, $2.12 million first-mortgage financing with a 25-year amortization schedule for the 73,000-square-foot Mt. Dora Plaza in Mt. Dora. Insight Credit Union provided financing.
AVON, IND. — Northbrook, Ill.-based The Boulder Group has brokered the sale of a 56,100-square-foot retail building located in the Indianapolis suburb of Avon for $5.75 million. Recently developed, the property, which is situated at 212 Gable Crossing Drive, is leased on a long-term basis to Hobby Lobby. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a private company, as well as the buyer, an institutional investment firm.
BRONX, N.Y. — Houlihan-Parnes Realtors, LLC, represented by Mike O'Neill, and headquartered in White Plains, N.Y., announced the placement of an 8,600-square-foot Rite Aid Pharmacy, located at 41-51 West Fordham Rd. The 5-year, $3.3 million first mortgage was closed with a local bank.
FORT COLLINS, COLO. –— Big Time Trampoline Fun Center has signed a lease to occupy 26,744 square feet in the Arvada Marketplace East shopping center in Arvada, CO. Since NewMark Merrill purchased the shopping center in 2010, Arvada's vacancy rate has dropped from 56 percent to 38 percent. The grand opening for the Big Time Trampoline Fun Center, which features trampolines, obstacle courses, mazes and more, is scheduled for July 2011.
LOS ANGELES — Marcus & Millichap Capital Corporation has arranged a $6,050,000 refinancing loan for a Los Angeles shopping center. The 10-year fixed debt includes a 30-year amortization period and was provided by a CMBS lender. In addition to retail, the property also features 85 multifamily units, which were not included in the loan. Financing was arranged by Rick Padilla, a senior director in Marcus & Millichap’s Long Beach office.
NEW YORK CITY — Meridian Capital Group has arranged $180 million in financing for 1551 Broadway in New York City, the flagship store for American Eagle Outfitters, which has 25,600 square feet of retail on four floors. The 10-year loan was provided by Citi Global Markets and negotiated by Ronnie Levine and Aaron Birnbaum of Meridian's New York City office.
HOUSTON — Dallas-based United Commercial Realty (UCR) and Houston-based MoodyRambin Retail have formed UCR MoodyRambin, a partnership that expands both companies presence in Texas. For UCR, it expands its territory beyond existing offices in Austin, Dallas and San Antonio by adding a Houston office. Similarly, the partnership expands the MoodyRambin Retail platform by adding services such as asset and property management, investment sales and urban retail services to its tenant representation, property representation and consulting services in Houston. As part of the merger, both the Houston and Dallas teams will remain intact and integration of the two teams will begin immediately. Lance Gilliam and Ed James will continue to manage the Houston office, while Mickey Ashmore and Jean Smith will continue to oversee activities in Dallas.
HOUSTON AND SPRING — Jerry Goldstein of Marcus & Millichap represented the seller, a limited liability company, in the $2.3 million sale of El Camino Center, a 25,680-square-foot retail, showroom and office facility at 17301 El Camino Real in the Clear Lake City development in Houston. In addition, Edward Benton of Marcus & Millichap represented the seller, a limited liability company, in the $1.6 million sale of an Advance Auto Parts, a 6,777-square-foot, single-tenant, net-leased property in Spring. The buyer was also a limited liability company and was also secured by Benton. Advance Auto Parts is located at 6514 FM 2920.
CHARLOTTE, N.C. — Oak Brook, Ill.-based Inland Real Estate Acquisitions has acquired four properties for $80.6 million. The 303,353-square-foot Perimeter Woods Shopping Center, located in Charlotte, was acquired for $54 million, with the remainder spent on the purchase of three Walgreens-anchored shopping centers in Lake Mary, Fla., Conyers, Ga. and Jacksonville, N.C. Matt Tice and Mark Cosenza facilitated the acquisition on behalf of Inland Diversified Real Estate Trust.
BRECKSVILLE, OHIO — The 150,000-square-foot Brecksville Shopping Center in Brecksville has started construction on a $1.6 million renovation that will add more parking, innovative architectural elements, improved lighting, signage and traffic flow. Upon completion, which is slated for early fall, the center will be renamed Brecksville Town Center. Brecksville-based The Snider Co. manages the property, which will remain open during the renovation.