SOUTHEAST — Jeff Bucaro of Aries Capital has arranged a $15.5 million acquisition loan for the purchase of 21 KFC/Taco Bell locations in the Southeast. The 5-year loan, funded by a consortium of credit unions, will cover 75 percent of the purchase. Michael Christie and Steven Madlinger of Heritage Capital Investments sponsored the loan.
CHICAGO — CompUSA has selected Skokie, Ill.-based The Missner Group to serve as general contractor for the renovation and expansion of the company’s CompUSA/Systemax retail location at 2500 N. Elston Ave. in Chicago. The renovation includes development of a new showroom, offices and applicable support facilities. Additionally, the project involves the complete overhaul of all mechanical and electrical systems, as well as a redesign of the exterior of the property. Sara E. F. Gensburg is providing architectural services for the project, which is slated for completion in May.
WASHINGTON, D.C. — Roche Constructors has completed a two-story complex that houses a LEED-certified Safeway grocery store in the Georgetown area of Washington. To construct the property, Roche demolished an old store, building the new structure along with a 259-space parking garage. Safeway is located on the second floor, with retail space on the street level.
QUINCY, MASS. — Coastal Partners has completed construction for a new BJ's Wholesale Club in Quincy. The new store is located at 2100 Crown Colony Road within the Crown Colony Office Park. Its 84,000-square-foot size marks the first mid-sized prototype for the wholesaler in New England. The project consisted of the brownfield remediation of a 40,000-square-foot printing facility. It is the 20th BJ's in the state.
BRIDGEPORT, CONN. — The former National Wholesale Liquidators building in Bridgeport has sold for $7.85 million. Fortress Development acquired the 45,000-square-foot building, which is located at 4425 Main St., and plans to lease it to a major supermarket. Bruce Wettenstein of Vidal/Wettenstein was the sole broker in the deal between Fortress and the seller, Cornell Main Street LLC.
DALLAS — NorthMarq Capital has arranged a $4 million loan for the 50,964-square-foot Lakewood Village shopping center in Dallas. Tenants at the property include IHOP and Sherwin Williams. Sun Life of Canada financed the 5-year loan, which carries a 20-year amortization schedule.
BURKE, VA. — Walker & Dunlop has secured a $36.5 million loan for the 167,642-square-foot Burke Centre shopping center. The Burke property, which is 99 percent leased, houses 46 tenants and is anchored by Safeway and CVS/pharmacy. Nationwide Life Insurance Co. financed the 10-year loan, which carries a 30-year amortization schedule.
ALPHARETTA AND MARIETTA, GA. — Strategic Storage Trust has purchased two self-storage properties in the Atlanta area from Storage Partners of Alpharetta and Storage Partners of Powers Ferry Road for $9.6 million. The Alpharetta property, located at 11640 Jones Bridge Road, spans 76,500 square feet and includes 670 units. The 500-unit Marietta property is located at 2035 Powers Ferry Road.
BROCKTON, MASS., AND PHILADELPHIA — Marcus & Millichap has brokered the sales of two retail properties for a total of $2.9 million. The first transaction involved the $1.72 million sale of a Dollar Tree located at 999 N. Montello St. in Brockton. Dollar Tree is leasing the 8,500-square-foot building for a 10-year term. Robert Horvath and Todd Tremblay of Marcus & Millichap represented the seller, Keefe Montello Street LLC. Adam Mancinone and Blake Barbarisi of Marcus & Millichap's New Haven, Conn., office represented the buyer, Phoenix Property Management. The second deal involved the sale of a McDonald's ground lease in Philadelphia for $1.18 million. The restaurant is an outparcel to Lindbergh Plaza and is operating in the location under a lease with 16 years remaining. Dean Zang and Mark Taylor of Marcus & Millichap's Philadelphia office represented the seller, Lindbergh Development Associates, and procured the buyer, Island Avenue Heights Associates.
PFLUGERVILLE AND ROSENBERG, TEXAS — NewQuest Properties has leased more than 50,000 square feet of retail space in two Texas transactions. Represented by Heather Nguyen and Cullen Kappler, NewQuest leased 35,510 square feet to Panda Express. The space is located at the Stone Hill Town Center in Pflugerville. Site Source Real Estate Services' Lauren Banner represented the tenant. NewQuest, represented by Eric Walker and Anderson Smith, also leased 18,000 square feet to Goodwill. The property is located at Brazos Town Center in Rosenberg. Goodwill was represented by Barkley Wedemeyer of Wedemeyer