ELKHART, IND. — Oakbrook Terrace, Ill.-based Mid-America Real Estate Corp. has arranged the sale of North Pointe Plaza, a 179,602-square-foot community shopping center located at the corner of Cassopolis Street and the Indiana Tollway in Elkhart. The center is anchored by Martin’s Super Market and Kmart; other tenants include CVS/pharmacy, Beneficial Finance, GNC and Fashion Bug. The property is currently 93 percent occupied. Ben Wineman and Joe Girardi of Mid-America represented the seller, West Bloomfield, Mich.-based NP Associates, which is an affiliate of First Holding Management Co. The buyer, Fort Wayne, Ind.-based Equity Investment Group, negotiated the transaction in-house. The acquisition price was not disclosed.
Retail
ROCHESTER, N.Y. — The Rose Hill Group of WNY LTD has arranged $3.25 million in permanent financing for Webster Parc Retail Center in Rochester. The 14,000-square-foot retail facility is located along Route 404 and includes tenants such as Metro Mattress, AT&T, and Aspen Dental. The borrower was undisclosed.
ROCHESTER, N.Y. — The Rose Hill Group of WNY LTD has arranged $3.25 million in permanent financing for Webster Parc Retail Center in Rochester. The 14,000-square-foot retail facility is located along Route 404 and includes tenants such as Metro Mattress, AT&T, and Aspen Dental. The borrower was undisclosed.
SIOUX CITY, IOWA — Sioux City-based NAI LeGrand & Co. has arranged the sale of a 68,000-square-foot retail building located in Sioux City. The building is located in Perry Creek Shopping Center, and was formerly occupied by Cub Foods. Ritch LeGrand of NAI represented the seller, Supervalu. The property was acquired by Sioux City-based retailer Bomgaars for an undisclosed price.
NAPERVILLE, ILL. — Edgemark Commercial Real Estate Services has completed the sale of Waterside Center, a 52,101-square-foot retail center located at 2764-2768 Aurora Ave. in Naperville. The building is situated on 5.97 acres and is anchored by Michaels. Jeffrey Kowal of Edgemark represented the seller, a locally based partnership; Rueben Helich of Wilson Bros. Commercial represented the buyer, a California partnership participating in a 1031 exchange. The acquisition price was not disclosed.
ALLEN PARK, MICH. — Southfield, Mich.-based Bernard Financial Group has secured a $13.7 million loan for Fairlane Green, a 125,450-square-foot retail center located in Allen Park. The borrower was DBSI Housing, and the lender was Goldman Sachs Commercial Mortgage Co. The terms of the loan were not disclosed.
LODI, N.J. — Goldstein Development Co. and ARC Properties, a joint venture, have completed construction of Essex Square Shopping Center in Lodi. The 15,000-square-foot retail center is almost fully tenanted with retailers such as North Fork Bank, 7-Eleven, Ranch One, Sleepy’s and Rita’s Water Ice. Located at the intersection of Route 17 and Essex Street, the center is situated in close proximity to national retailers such as Home Depot and Stop & Shop. Lew Finkelstein of The Goldstein Group represented the tenants and owners in each lease transaction.
EAST LYME, CONN. — Steven Siegel, L.A. Drinkwater, and Seth Richard of the National Retail Group of Marcus & Millichap have completed the $5.15 million sale of Bob’s Discount Furniture in East Lyme. The retail store is situated on 5.88 acres at Exit 74 of Interstate 95. Bob’s Discount Furniture will continue to occupy the 42,210-square-foot store based on a 10-year lease. Marcus & Millichap represented the seller and the undisclosed buyer.
GREELEY, COLO. — Greeley Plaza LLC has purchased Chase Plaza, a 122,000-square-foot property located at 822 7th St. in downtown Greeley. Greeley Lincoln Park Properties, Colorado Recovery Properties and Robert G. Tointon sold the property for $9.9 million. Taylor Turano and Barry Higgins of Marcus & Millichap’s Denver office represented both parties in the transaction.
SAN FRANCISCO — Lambert O’Connor Development has completed the disposition of the Potrero Hill Whole Foods Market property, which is located at 450 Rhode Island in San Francisco. A Southern California-based trade buyer acquired the 40,516-square-foot property for an undisclosed price, which was near the list price of $17 million or approximately $400 per square foot. Andy Bogardus and Doug Longyear of NAI BT Commercial represented the seller in the transaction.