CHARLOTTE, N.C. — NorthMarq Capital has arranged $91 million in first mortgage financing for The Arboretum, a 562,662-square-foot shopping center in Charlotte. Located at the intersection of Highway 51 and Providence Road, the center is occupied by Walmart and Harris Teeter among others. Financing was based on a 10-year term with a 30-year amortization schedule. Bill Matone of NorthMarq's Charlotte office arranged the financing for the borrower through NorthMarq's relationship with Wells Fargo Bank National Association.
Retail
MOUNT PROSPECT, ILL. — G.A. Johnson & Son has partnered with Casto for the construction of eight retail buildings at Randhurst Lifestyle Center in Mount Prospect. Buildings A, B, C, D, E, F, G, T will total 250,000 square feet of space. Buildings C and G will also include second-story office space, which will allow office tenants access to the new 1 million-square-foot mall. Additionally, the buildings will be built to LEED Silver certification.
HIGHLAND, CALIF. — Faris Lee Investments has closed the $2.1 million sale of the 14,337-square-foot Stoney Creek Retail Center, located at 7354 Stoney Creek Drive in Highland. Built in 2007 and 91 percent occupied, the property consists of two multi-tenant buildings and an auto-service pad building occupied by Valvoline Express Lube. Faris Lee’s Dennis Vaccaro and Rich Walter represented the REO seller, California Bank & Trust, and the buyer, Canoga Park, Calif.-based Infinity Commercial Group LLC, in the all-cash transaction.
MT. PLEASANT, WIS. — The Redmond Company has been selected to build the newest Gordon Food Service Marketplace in Mt. Pleasant. Construction for the 15,870-square-foot retail store started in December 2010 and is scheduled for completion this summer.
BUFFALO GROVE, ILL. — Horizon Realty Services has completed five leases transactions totaling 74,609 square feet in Illinois. Planet Fitness leased 25,200 square feet at Melrose Crossing shopping center located at Mannheim Road and North Avenue in Melrose Park, Ill. Additionally, CSL Plasma leased 13,160 square feet at the same center. Jason Lenhoff of Horizon Realty represented the lessor in both transactions. In separate transactions, a private operator banquet facility leased 24,180 square feet and a local fast-food restaurant group leased 3,619 square feet at the Landings Lombard, which is located on Interstate 355 and North Avenue in Lombard, Ill. Stuart Lenhoff, Barry Millman and Jason Lenhoff of Horizon Realty Services represented the lessor in the transactions. Finally, Jason Lenhoff represented the lessor in the leasing of 8,450 square feet to Fresenius Medical Centers in a shopping center in Mundelein, Ill.
TACOMA, WASH — Marcus & Millichap has negotiated the nearly $1.88 million acquisition of Center Street Plaza, a 20,321-square-foot retail property located at 4916 Center Street in Tacoma. The brokerage firm’s Dino Christophilis represented the private-investor buyer in the transaction.
TAMPA, FLA. — Tampa-based Hachem Investments has acquired the retail space at Skypoint Tampa, which is located in Tampa's River Arts District. The 9,907-square-foot space is fully leased to Taps, Five Guys, the Point, Kurdi's Fresh Mediterranean Grill and Pizza Fusion. Clay Witherspoon and Paul Royak of Lane Witherspoon & Carswell Commercial Real Estate Advisors negotiated the sale between the buyer and the seller, Skypoint, which is a partnership of Novare Group Holdings of Atlanta and investors in Tampa. Terms of the transaction were not released.
CHICAGO — Bell Acquisition LLC has purchased the former Bell Federal building, which is located at 79 W. Monroe in Chicago. Built in 1906, the 13-story, 200,000-square-foot office building was sold by Bank of America. The sales price was not released.
AVON, OHIO — The Salvation Army has acquired a 2.79-acre land parcel, which is located across from Avon Crossings Shopping Center in Avon. The company plans to develop a 25,000-square-foot thrift store on the site. The store is expected to open in late 2011. Chris Seelig of NAI Daus represented the buyer; Goodman Real Estate Group represented the seller in the transaction. Terms of the transaction were not disclosed.
ONTARIO, CALIF. — A 100,680-square-foot Kmart, a single-tenant, net-leased property located at 1670 E. 4th Street in Ontario, has traded hands for $7.25 million. Marcus & Millichap’s Irwin Woldman represented the buyer in the transaction, and the brokerage firm’s Alan Krueger represented the seller; both parties were private investors.