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NEW YORK CITY — Judah Hammer and Michael Kesselman of Meridian Capital Group have arranged $2.5 million in refinancing for a commercial strip center in the Jamaica neighborhood of Queens, New York City. The 12,100-square-foot center is located on 13802-24 farmers Blvd and contains 10 commercial tenants.
EL CAJON, CALIF. — NewMark Merrill Cos. has acquired Town & Country Center, a 52,990-square-foot shopping center located at the corner of N. Second St. and Madison Ave. in El Cajon. The company purchased the property for just under $11 million. At the time of acquisition, the center was 90 percent occupied by a variety of tenants, including Rite Aid, Baskin Robbins and Everything $5.99. NewMark has an extensive renovation planned for the development. Peter Bethea of Cushman & Wakefield represented the seller in the transaction. Financing was provided by Wells Fargo Merchant Bank.
HONOLULU — The two-level retail expansion has opened at Ala Moana Center, a shopping center located at 1450 Ala Moana Blvd. in Honolulu. The expansion offers more than 300,000 square feet of retail space, including Hawaii’s first full-line Nordstrom and 17 new tenants. New tenants include J. Crew-on-the-Island, Design Within Reach, Vera Bradley, Chico’s, Bare Escentuals and Blue Hawaii Lifestyle. The expansion grand opening coincides with the mall’s spring fashion show, which will feature spring trends and styles.
UPLAND, CALIF. — Two anchor tenants have recently opened at NewMark Merrill Cos.’s Upland Town Square, a 105,000-square-foot shopping center located at the intersection of Foothill Boulevard and San Antonio Avenue in Upland. The new tenants include a 24,400-square-foot OfficeMax featuring a new multi-purpose store layout and one of California’s first Fresh & Easy, a 14,241-square-foot grocery store. After purchasing the property in 2005, the company launched a $3.5 million remodel and re-tenanting project to transform the 1970s center into a contemporary shopping destination.
CHAMPIONSGATE, FLA. — N.Y.-based Apollo Real Estate Advisors and Houston-based RIDA Development Corp. are developing a $69 million retail, office and multifamily expansion in the downtown district of ChampionsGate, an 1,800-acre resort-style community. The project will consists of 100,000 square feet of retail and office space and 180 luxury apartments. The lifestyle center will be designed by Atlanta-based Dougherty Design, and The Reserve at ChampionsGate will be designed by Orlando, Fla.-based L2 Studios. Construction is slated to begin in May.
RICHMOND, VA. — Chicago-based The Bond Cos. has acquired Beaufont Center, a 314,898-square-foot shopping center in Richmond, from GSC/Jon Perel, for $17 million. The center is situated on 47 acres at the intersection of Midlothian Turnpike and Chippenham Parkway. The property is anchored by a 169,876-square-foot space, occupied by a division of UPS. Plans for redevelopment are undetermined. Mike Dillon of Marcus & Millichap’s Chicago office, Michael Early of its Williamsburg, Va., office and Matthew Greenspon of its Charlotte, N.C., office were the sole brokers in the transaction.
TOPEKA, KAN. — The Irvine, Calif., office of Sperry Van Ness (SVN) has completed the sale of a 45,000-square-foot, single-tenant retail property, located at 5900 SW Huntoon St. in Topeka, for $6.83 million. The building is situated on 3.5 acres of land and is occupied by Dick’s Sporting Goods. Jereme Snyder, Geoff Tranchina and Scott Tiano of SVN represented the seller, a private Las Vegas-based investor. The buyer, which was also undisclosed, was represented by Larry DeSantis, also of SVN.
SOMERVILLE, MASS. — Shawn Herlihy and Christine Morrell of Goedecke & Co.’s Boston office have secured $10 million in permanent financing for One Davis Square in Somerville. The 48,799-square-foot retail/office property features a new CVS/pharmacy on the first level and a new Boston Sports Club on the second level. The facility also includes 12,000 square feet of office space. The loan was funded for the borrower, Krisco Development, by Genworth Life Insurance.