OWASSO, OKLA. — Houston-based Live Oak Capital has arranged $8.8 million in acquisition financing for Garrett Creek Center in the Tulsa suburb of Owasso. The 104,216-square-foot property is located at 11550 N. 135th East Ave. It is anchored by Reaser’s, with additional tenants such as Subway, U.S. Cellular Corp. and Supercuts; occupancy is currently at approximately 99 percent. Greg Young of Live Oak secured the loan on behalf of Hollywood Continental Apts. LLC with Cincinnati-based Eagle Realty. Terms of the non-recourse loan include a 6.28 percent fixed interest rate, a 5-year term, a 30-year amortizations schedule and a 62 percent loan-to-value ratio. The borrower was participating in the purchase as part of a 1031 exchange.
APPLETON, NEENAH, MENASHA AND GREEN BAY, WIS. — Stan Johnson Co. has completed the sale of a five-property portfolio of Walgreens drugstores in Wisconsin. The stores, which are 100 percent leased to Walgreens/Walgreen Co., are located in Appleton, Neenah and Menasha, as well as two properties that are in Green Bay. An undisclosed corporation has acquired the stores from an undisclosed retail developer for $13.67 million. Gill Warner, Rod Pickney and Chad Byerly of Stan Johnson Co.’s Team Warner represented both parties in the transaction.
DEERFIELD BEACH AND CORAL SPRINGS, FLA. — Deerfield Beach-based SIKON Construction Corp. has completed two SuperTarget stores totaling more than 370,000 square feet. The firm finished a 186,212-square-foot store at the intersection of Hillsboro Boulevard and Powerline Road in Deerfield Beach and has built a 185,000-square-foot store at the intersection of U.S. 441 and Wiles Road in Coral Springs. Minneapolis-based RSP Architects designed both buildings.
MINNEAPOLIS — Minneapolis-based Kraus-Anderson Construction Co. has broken ground on Now Boarding, a new pet boarding operation located adjacent to the Minneapolis-St. Paul International Airport at 6002 28th Ave. S. in Minneapolis. The dog daycare facility, which will be a program of the Animal Humane Society, will be open 24 hours a day, with parking and shuttle service to the airport terminals for kennel customers. The project includes refurbishing the existing 12,000-square-foot facility, adding a 10,800-square-foot component and building parking lots for 132 vehicles. Upon completion, which is expected in mid-November, Now Boarding will accommodate 141 animals. Pet services will also be available at the property, including dog day care, multiple outdoor play and exercise areas, indoor play areas, and a large spa and grooming area equipped with therapy pool and massage.
SAN DIEGO — On Broadway SC Partners LP has acquired On Broadway, a retail/multifamily building located at 1023 Fourth Ave. and 1014 Fifth Ave. in San Diego’s Gaslamp Quarter. CIM/Broadway LP sold the property for $20.87 million. The property features 33 loft-style apartments, a 275-car parking structure and 50,000 square feet of retail space. Current anchor tenants include Yard House restaurant, RA Sushi and T-Mobile. Bill Shrader and Corinna Gattasso of Cushman & Wakefield Urban Property Group, along with Curtis Palmer, Herb Chase III and Peter Sherman of Transwestern, brokered the transaction.
TORRANCE, CALIF. — Joseph Linkogle and Adam Friedlander of Marcus & Millichap’s Long Beach, Calif., office has negotiated the disposition and acquisition of a three-tenant, ground-level retail center in Torrance. Located at 20505-20555 Hawthorne Blvd., the property sold for $6.5 million. Current tenants include Pacific Audi Auto Dealership, Bamboo Gardens Restaurant and Del Amo Car Wash. The buyer and seller were not disclosed.
WALTON, KY. — Regency Centers has opened its 139,610-square-foot Walton Towne Center, located at the intersection of Mary Grubbs Highway and Interstate 75 in Walton. The center is anchored by an 116,471-square-foot Kroger Marketplace, which features a gas station; an 18,000-square-foot Kroger Liquor store sits next door to the Kroger. Kohl’s Department Store and outparcels featuring McDonald’s, Heritage Bank, The Bank of Kentucky and Walton Pharmacy & Food Mart have opened.
VIRGINIA BEACH, VA. — Lee Hall Plaza has purchased a 12,500-square-foot D&M Seafood Building and a 1,000-square-foot BP gas station from Davis Family Partnership for $2.8 million. The buyer will use the buildings, located at 1645 and 1649 Independence Blvd. in Virginia Beach, for future development. Thalhimer’s John Duffy, Christopher Rouzie and Drew Haynie brokered the transaction.
ROGERS, MINN. — Fargo, N.D.-based Coldwell Banker Commercial First Realty-Encore has brokered the acquisition of a retail center located at 13625 North Dale Blvd. in Rogers. Tenants at the 13,800-square-foot development include Domino’s Pizza, Subway, Caribou Coffee, Snap Fitness, and Pick & Pack. New Millennium Property Group has acquired the center from 101 LLC for $2.5 million. Marc Johnson of Coldwell Banker Commercial First Realty-Encore represented the buyer; Cory Villaume of Marcus & Millichap represented the seller in the transaction.
FARMINGDALE, N.Y. — Chatham, N.J.-based David Cronheim Mortgage Corp. has brokered the sale of a Super Wal-Mart, located on Route 110 in Farmingdale, for $42.85 million. The 216,519-square-foot store is located within the 25-acre Republic Plaza shopping center. Tenants include Panera Bread, GameStop, Maggie Moos, Chipotle, Sleepy’s, Chili’s, Houlihan’s and Bank of America. Only the Wal-Mart was included in the sale. Andrew Stewart of Cronheim negotiated the transaction. Both parties were undisclosed.