VICTORVILLE AND HESPERIA, CALIF. — Progressive Real Estate Partners has arranged the sales of two parcels of land to Circle K and Chevron for a combined total of $4.7 million. Pablo Velasco of Progressive Real Estate Partners represented the sellers in both transactions. In the first deal, Circle K acquired a 3-acre land parcel, located at 15 Freeway and Nisqualli Road in Victorville, for $2.8 million. Circle K plans to build a convenience store, gas station and car wash on the site. The development is slated to open in mid-2018. In the second transaction, Chevron purchased a 1.2-acre land parcel, located at 15 Freeway and Ranchero Road in Hesperia, for $1.9 million. Projected to open in mid-2018, the development will feature a convenience store and car wash.
REDONDO BEACH, CALIF. — CBRE has arranged the sale of a retail property located at 2525 Artesia Blvd. in Redondo Beach. El Indio Property LLC sold the property to MattKarr Properties LLC for $4.2 million. A drive-through Coffee Bean & Tea Leaf, which signed a 15-year lease in 2017, occupies the property. Alex Kozakov and Patrick Wade of CBRE represented the seller, while Sanjo Investments represented the buyer in the deal.
NEWPORT BEACH, CALIF. — Newmark Knight Frank has added Daniel Samulski as a senior managing director with the firm’s Newport Beach office. Samulski has almost two decades of retail expertise in Southern California. Previously, he served as a senior vice president at CBRE.
ORLANDO, FLA. — Unicorp National Developments Inc. has unveiled plans for O-Town West, a $1 billion mixed-use development located at the corner of Palm Parkway and Daryl Carter Parkway in Orlando. The development will feature retail, restaurants, upscale apartments, a 600-car garage and a water show in the style of The Fountains of Bellagio in Las Vegas. The retail portion of the 82-acre development will be housed in two segments: the Village at O-Town West and the Boardwalk at O-Town West, according to reports by Orlando Weekly. The Village will feature retailers offering everyday necessities, including a national grocery store. The Boardwalk will offer new-to-market restaurants and retail. A 15,000-unit multifamily community is also planned for the development, alongside 300 to 400 homes, all of which will overlook a recreational lagoon by Miami-based Crystal Lagoons. Groundbreaking is slated for early 2019, with a grand opening projected for summer 2020, Orlando Weekly reports. Unicorp has developed over $2.5 billion worth of commercial and residential real estate, with a focus on retail, mixed-use centers, multifamily and master-planned communities. The company recently developed I-Drive 360 in Orlando, a mixed-use development featuring an observation wheel known as the Coca-Cola Orlando Eye. A $100 million Phase II is currently …
ARLINGTON, TEXAS — CBRE has brokered the sale of Seville Commons, a 113,742-square-foot, Class A retail center in Arlington. Anchored by Walmart Neighborhood Market, the property was 95 percent leased at the time of sale to tenants such as Chase Bank, Sprint, Subway and GNC. Chris Gerard, Chris Cozby and Blaine Dozier of CBRE represented the undisclosed seller in the transaction. Cincinnati-based Phillips Edison, a REIT specializing in grocery-anchored assets, purchased the center for an undisclosed price.
KILLEEN, TEXAS —Fitness chain Crunch Fitness will open a 27,587-square-foot gym at Wendland Plaza, a 205,224-square-foot shopping center located in Killeen, about 70 miles north of Austin. The lease brings the occupancy rate of the property, which also houses tenants such as Conn’s HomePlus, Altitude Trampoline Park and Lumber Liquidators, to 98 percent. Grant Gary and Dan Rebensdorf of The Woodmont Co. represented the landlord, Killeen ATM LLC, in the lease negotiations.
AURORA, OHIO — Institutional Property Advisors (IPA) has brokered the sale of Marketplace at Four Corners in Aurora for $55.7 million. The 525,708-square-foot shopping center, located at 7155-7175 Aurora Road, opened in 2002. The property was 99 percent occupied at the time of sale. Anchor tenants include Walmart, Kohl’s Dick’s Sporting Goods and HomeGoods. Scott Wiles, Erin Patton and Craig Fuller of IPA represented the Florida-based seller, which Crain’s Cleveland Business cites as an affiliate of MPG Development. Along with Dean Zang of IPA, the team also secured the buyer, a New York-based 1031 exchange investor. IPA is a division of Marcus & Millichap.
EMERYVILLE, CALIF. — HFF has arranged an $83.5 million loan for Emeryville Public Market, a 141,420-square-foot shopping center in the San Francisco Bay Area community of Emeryville. Peter Smyslowski of HFF arranged the five-year, floating-rate loan through ACORE Capital on behalf of the borrower, a partnership between City Center Realty Partners LLC and Angelo, Gordon & Co. Proceeds of the loan will be used to retire an existing Bank of America loan, complete construction of an additional 26,350 square feet of retail space, add a 300-stall parking structure and expand an on-site public park. Emeryville Public Market is home to tenants including Guitar Center, Urban Outfitters and a food hall. The property was originally constructed in 1920, but underwent expansions and renovations in 1988 and 2017.
NEW YORK CITY — Madison Realty Capital has provided $45.5 million in financing to a New York-based developer to complete the construction of 22 Bond Street, a mixed-use condominium development in the Noho neighborhood of Manhattan. The 11-story, 34,035-square-foot development features a 4,245-square-foot commercial condominium on the cellar and grade levels and six residential condominiums on the upper floors. The residential condominiums are three-bedroom, 3.5-bath duplex units with private elevator access and terraces. On-site amenities include an outdoor garden, storage and a resident lounge. Completion is slated for spring 2018.
EAST HAVEN, CONN. — Marcus & Millichap has arranged the sale of East Haven Shopping Center, located at 75 Frontage Road in East Haven. A Philadelphia-based development company sold the retail center for $5.2 million. Anchored by AutoZone, the 52,752-square-foot property was 93 percent occupied at the time of sale. Mark Krantz, Mark Taylor, Derrick Dougherty and J.D. Parker of Marcus & Millichap represented the seller in the deal. The name of the buyer was not disclosed.