ROCHESTER HILLS, MICH. — Footwear retailer DSW has opened a 16,400-square-foot store at Centro Properties Group’s Hampton Village Centre, a 460,000-square-foot shopping center located at the intersection of Rochester and Auburn roads in Rochester Hills. The store marks DSW’s 10th location in the Detroit metro area. Justine O’Brien represented Centro in the lease transaction.
Retail
ROCHESTER HILLS, MICH. — Footwear retailer DSW has opened a 16,400-square-foot store at Centro Properties Group’s Hampton Village Centre, a 460,000-square-foot shopping center located at the intersection of Rochester and Auburn roads in Rochester Hills. The store marks DSW’s 10th location in the Detroit metro area. Justine O’Brien represented Centro in the lease transaction.
PORTLAND, MAINE — John Edwards of Arbor Commercial Funding’s Boston office has arranged $1.18 million in financing for a 25-unit complex at 485 Cumberland Ave. in Portland. The 10-year loan was funded by Fannie Mae’s 3MaxExpress program. The borrower was undisclosed.
MORENO VALLEY, CALIF. — Eric Werner of Hanley Investment Group represented a Riverside, Calif.-based private partnership in the acquisition of Sunnymead Professional Building, an 8,625-square-foot office/retail center located at 23205, 23207 and 23209 Sunnymead Blvd. in Moreno Valley, for $2.32 million. Built in 2006, the two-story building is currently 100 percent leased to multiple tenants, including FastSigns, Geller Stewart & Foley LLP and PIP Printing. Jamie Harrison of Marcus & Millichap’s Ontario, Calif., office represented the seller, Moreno Valley-based Sunnymead Building Partners 1 LLC, in the transaction.
POLK COUNTY, FLA. — Cuhaci & Peterson Architects is designing two retail centers in Polk County, for Charlotte-based Crosland Co. and A.G. Armstrong, respectively. Crosland Co. is developing a 60,000-square-foot center, featuring a 40,000-square-foot Sweetbay supermarket, at the intersection of Highway 27 and State Route 547. A.G. Armstrong is developing Phase 2 of the Shoppes on the Ridge, which consists of a 40,000-square-foot addition. The property is located at the intersection of Highway 27 and Chalet Suzanne Road.
CHICAGO — Matanky Realty Group has brokered the sale of two Chicago retail properties. Terri Cox and Anita Kedia of Matanky represented the undisclosed seller of Dearborn Grocer, a 27,400-square-foot grocery store located at 2274 N. Milwaukee Ave. The sale price was not disclosed, but the property listed for $3.25 million. Cox, along with James Matanky, also represented the seller in the disposition of Dearborn Wholesale Grocers, an 11,070-square-foot retail center located at 2019 W. Howard St. The asking price for the property was $1.7 million. The parties involved in both transactions were not disclosed.
CHICAGO — Matanky Realty Group has brokered the sale of two Chicago retail properties. Terri Cox and Anita Kedia of Matanky represented the undisclosed seller of Dearborn Grocer, a 27,400-square-foot grocery store located at 2274 N. Milwaukee Ave. The sale price was not disclosed, but the property listed for $3.25 million. Cox, along with James Matanky, also represented the seller in the disposition of Dearborn Wholesale Grocers, an 11,070-square-foot retail center located at 2019 W. Howard St. The asking price for the property was $1.7 million. The parties involved in both transactions were not disclosed.
CITRUS HEIGHTS, CALIF. — Capmark Finance Inc. has originated an $84 million loan for Steadfast Commercial Properties for the acquisition of Sunrise Mall. Major tenants of the retail property include Macy’s, JC Penney and Sears. John Fett of Capmark Finance’s Roseville, Calif., office secured the fixed-rate loan, which was provided by AXA Equitable.
COLUMBIA, S.C. — Leesburg Village-Columbia, a Georgia limited liability company, has purchased Leesburg Village Shopping Center, a 50,574-square-foot, 6-acre center in Columbia, from Leesburg Village LLC, for $3 million. The property is anchored by a 35,560-square-foot Food Lion, and is located at 2900 Leesburg Rd. Victor John of Columbia-based NAI Avant brokered the transaction.
ST. PAUL, MINN. — Minneapolis-based Kraus-Anderson Construction Co. will soon break ground for the construction of a Cub Foods grocery store located at the corner of Clarence Street and Maryland Avenue in the Phalen neighborhood of St. Paul. The 6.6-acre site will include the 60,000-square-foot Cub Foods, as well as three retail buildings totaling 14,175 square feet. The project is applying for LEED certification from the U.S. Green Building Council. It is being developed by Minnetonka, Minn.-based Oppidan.