BRIDGEVILLE, PA. — Construction is complete for Phase I of Bursca Frontgate, a retail center located at the entrance to Bursca Business Park in Bridgeville. Phase I consists of a 7,800-square-foot building, of which the New Dragon Express restaurant and Sudsy's Beer Distributor have already leased a combined 4,400 square feet. Future plans call for an additional building totaling 6,000 square feet. Burns & Scalo Real Estate Services is leasing the property.
SOUTHOLD, N.Y. — Stalco Construction has completed the $1.5 million expansion and renovation of the IGA Supermarket located at 54566 Route 25 in Southold. The project included the demolition and reconstruction of the building exterior, a new roof, the reconfiguration of the interior space and other improvements. John A. Grillo, Architect PC served as project architect. The building is owned by Thomas and Charles Reichert.
CHERRY HILL, N.J. — Colliers International has brokered the sale of a single-story, 4,000-square-foot retail building located at 1734 Route 70 in Cherry Hill. The buyer, Dr. Evan Sorokin, plans to relocate his practice to the building from its current location in Marlton, N.J. David Reibstein and David Dunkelman of Colliers' Philadelphia office represented the seller, 1734 Route 70 East LLC. Evan Zweben of Colliers' Mount Laurel, N.J., office represented the buyer.
AUSTIN, TEXAS — An Austin-based investment partnership has purchased the 69,336-square-foot Rivertowne Mall from a private party for an undisclosed amount. The property is located on 5.58 acres at 2003-2017 Riverside Drive in Austin. The buyer is planning to redevelop the project into traditional retail space. Walter Saad, Cathy Nabours and Eric DeJernett of CB Richard Ellis' Austin office represented the seller.
HOUSTON — The Houston office of Holliday Fenoglio Fowler (HFF) has closed the sale of The Commons at Presidio Square, a 189,340-square-foot shopping center located at the intersection of Highway 6 and Bellaire Boulevard in Houston. The shopping center, which sits on 22.5 acres, is anchored by H-E-B and is currently 89.9 percent leased with major tenants such as RadioShack, IHOP and JPMorgan Chase. HFF's Rusty Tamlyn and Trent Agnew lead the investment sales team on behalf of the seller, Camden Securities. Canadian-based North American Development Group purchased the property and assumed the in-place financing.
CRYSTAL LAKE AND AURORA, ILL. — Marc Rubin of Zifkin Realty Group represented Monkey Joes, a children's entertainment center, in two lease transactions. The company leased 15,122 square feet at Crystal Lake Shopping Center in Crystal Lake and 16,360 square feet at Yorkshire Plaza in Aurora. Scott Tucker of Kimco Realty represented the undisclosed landlord in both transactions.
MARLBOROUGH, MASS. — The Capital Markets group of Colliers Meredith & Grew has arranged a $9 million loan for the refinancing of Post Road Plaza in Marlborough. The 209,657-square-foot shopping center is located at 246 E. Main St. It is 98 percent leased to a tenant roster that includes Marshalls, CVS/pharmacy, Price Chopper and Ocean State Job Lot. John Broderick of Colliers represented the borrower, Karnak Realty. The loan carries a 20-year term and a fixed interest rate. The lender is Aviva Investors, a subsidiary of Aviva plc.
LEE, N.H. — Fantini & Gorga has arranged $3.36 million in permanent financing for a Walgreen's pharmacy located at 91 Calef Highway in Lee. The lender in the deal was aMassachusetts banking institution. The borrower was Calef Highway Lee LLC.
HOUSTON — Marcus & Millichap Real Estate Investment Services has sold Long Point Shopping Center, a 41,731-square-foot retail property in Houston. Located at 7922 Long Point Road, the property consists of a KFC/Taco Bell and three freestanding retail buildings. Chris Maling of Marcus & Millichap's Los Angeles office and Todd A. Carlson of the firm's Houston office had the exclusive listing to the property on behalf of the seller, a California-based private investor. The buyer, a Texas-based private investor, was secured by Carlson.
HOUSTON — Tuscon, Ariz.-based Pima Medical Institute (PMI) has leased 42,297 square feet of space within Katy Freeway Retail Center I, located at 10201 Katy Freeway in Houston, for a new campus facility slated to open in September. PMI is a private, family-owned, accredited medical school with 13 campuses throughout New Mexico, Arizona, Colorado, Washington, Nevada and California. James Wachholz of UGL Equis's Denver office worked with William Wolff of the firm's Houston office to secure the lease.
