TUKWILA, WASH. — The Westfield Group has completed the renovation of Westfield Southcenter, a shopping center located in Tukwila. The $240 million renovation featured a three-level, approximately 400,000-square-foot expansion of retail space, which brings the total to 1.7 million square feet. The center is anchored by Nordstrom, JC Penney, Macy’s and Sears. The revitalized center also features a 16-screen, stadium-seating AMC cinema and more than 75 new specialty shops, including a flagship H&M, Gilly Hicks and a Borders® concept store. Additionally, the center offers a restaurant promenade that features five new signature restaurants.
SEATTLE — Allstate Real Estate Investment Group, through its commercial mortgage division, has provided a $28.65 million loan for the refinancing of Northgate North Shopping Center in Seattle. The borrower, Inland Western Retail Real Estate Trust Inc., acquired the 303,255-square-foot property in 2004. Currently the center is 97 percent leased and anchored by Target, Best Buy and Ross Dress For Less. Joel Simmons of Cohen Financial arranged the financing on behalf of Allstate.
NATIONAL CITY, CALIF. — Vancouver, Canada-based Amir Khalili has purchased a 68,084-square-foot shopping center, which is located at the intersection of Euclid Avenue and East Plaza Boulevard in National City. Tiburon, Calif.-based National Properties VII LLC sold the property for $15 million. At the time of acquisition, the property was 100 percent occupied by Ralphs, Walgreens, Blockbuster Video and Firestone Tires. Edward Hanley of Hanley Investment Group Real Estate Advisors represented both parties in the transaction.
MIAMI GARDENS, FLA. — Construction is underway on Miami-based DZD Holdings’ 107,000-square-foot shopping center Palmetto Gardens Plaza, located at 3791 N.W. 167th St. in Miami Gardens. The center, which will also include a 20,000-square-foot outparcel, is being built by Aventura, Fla.-based Vercon Construction, marketed by the Miami offices of Macken Realty and Behar Font & Partners is serving as the building’s architect. The property is expected to deliver in 14 to 18 months.
GRAND RAPIDS, MICH. — Grubb & Ellis|Paramount Commerce has represented both parties in the sale of a 37,000-square-foot former AMF Bowling Center located at 3700 Plainfield Ave. NE in Grand Rapids. 3700 Plainfield LLC has acquired the facility for an undisclosed amount. The buyer, which has a business across the street, plans to use the new building and sell its existing facility. Kurt Suidinski of Grubb & Ellis|Paramount Commerce represented the buyer; Dave Denton, also of Grubb & Ellis|Paramount Commerce, represented the seller, AMF Bowling Centers Inc., in the transaction.
JOHNSTOWN, PA. — Gemini Real Estate Advisors has acquired Johnstown Galleria, a 354,625-square-foot enclosed regional mall located in Johnstown. The retail property is anchored by a 101,000-square-foot JC Penney’s. A Sears, Bon Ton and Boscov’s that were not included in the purchase also anchor the mall. Other tenants include Aeropostale, American Eagle, Champs and Hollister. The acquisition price and the seller were undisclosed.
NEW YORK CITY — Eastern Consolidated has negotiated the sale of a development parcel located at 844 Second Ave. in New York City for $5.25 million. The single-story retail property is currently occupied by Blimpie’s. The buyer, locally based 300 E. 45th Street LLC, plans to continue operation of the property as a retail location in the short term until Blimpie’s lease expires. The site is located 1 block from the United Nations building and a few blocks from Grand Central Station. Eric Anton, Ronald Solarz and David Schechtman of Eastern Consolidated represented the seller 844 Realty LLC; Ety Lee, also of Eastern Consolidated, procured the buyer.
AUSTIN, TEXAS — Marcus & Millichap has brokered the sale of Grand Avenue Center I, a newly constructed, 19,422-square-foot shopping center located at 1615 Grand Avenue Pkwy. in Austin. Jason Middlebrook of Marcus & Millichap’s Austin office represented the seller in the transaction; Casey Beasley of Kemp Properties represented the buyer. Both parties were undisclosed.
SUNRISE, FLA. — Ron Osborne of Marcus & Millichap’s Fort Lauderdale, Fla., office brokered Bull Investment’s sale of a 6,244-square-foot vacant restaurant building to Church of God of Prophecy Sunrise/Lauderhill Inc. for $1.35 million. Located at 7730 W. Oakland Park Blvd. in Sunrise, the former Woody’s Bar-B-Que will be converted into a church.
OLATHE, KAN. — Marcus & Millichap has brokered the sale of Olathe Pointe, a 289,455-square-foot retail center located at the southeast corner of 119th Street and Blackbob Road in Olathe. The shopping center, which consists of two multi-tenant buildings situated on approximately 25 acres, was acquired by Phoenix-based Arciterra. Maefield Development Corp. of Indianapolis sold the property for $29.39 million. Tenants in the center include Marshalls, HomeGoods, Michaels, Off Broadway Shoe Warehouse, Ulta Beauty, dressbarn, and Five Guys Famous Burgers and Fries. John Riser of Marcus & Millichap’s National Retail Group in Indianapolis represented both parties in the transaction.