Mount Holly, N.J. —G.S. Wilcox & Co. has arranged a $12 million loan for the refinancing of Fair Ground Plaza, a 178,532-square-foot shopping center located in Mount Holly in southern New Jersey. The property was 90 percent leased at the time of the financing. Acme Markets anchors the center, and other tenants include Staples, Dollar Tree and Advance Auto Parts. David Fryer of G.S. Wilcox arranged the loan through an undisclosed life insurance company.
La Vista, Neb. — Marcus & Millichap has brokered the $6.4 million sale of Val Verde Place Shopping Center, a retail property located in La Vista. Built in 2000, the property totals 48,712 square feet across 23 tenant suites. Chris Garavaglia, Alex Perez and Austin Sweet of Marcus & Millichap represented the seller in the transaction. Jon Ruzicka is the firm’s broker of record for Nebraska.
Gainesville, Ga. — Branch Properties has announced plans for the redevelopment of Lakeshore Mall, a 492,798-square-foot retail property located in Gainesville, roughly 55 miles northeast of Atlanta. Plans for the mixed-use redevelopment include 305,444 square feet of retail space, as well as 652 multifamily units and 38,200 square feet of outdoor community greenspace. The property will also have the capacity for the future development of a hotel and townhomes. Current Lakeshore Mall anchors Dick’s Sporting Goods and Belk will remain open throughout the project, with the former relocating to a new …
Grand Rapids, Mich. — PREIT has received an $80 million mortgage for the refinancing of Woodland Mall in Grand Rapids. Tenants at the recently redeveloped property include Von Maur, The Cheesecake Factory, Sephora and Urban Outfitters. According to the company, the refinancing will save PREIT roughly $5 million in interest expense over the life of the loan. JLL arranged the financing through a commercial mortgage-backed security (CMBS) lender.
Osage Beach, Mo. — Sky Real Estate has acquired Osage Beach Outlet Marketplace, a 391,000-square-foot retail center located on a 60-acre parcel in Osage Beach. Tenants at the property include Polo Ralph Lauren, Under Armour, Bath & Body Works and LOFT. A subsidiary of Simon Property Group sold the center for an undisclosed price.
Yucaipa, Calif. — Marcus & Millichap has brokered the $10.8 million sale of Center Point Plaza, a shopping center located in Yucaipa. Constructed in 2007, the property totals 28,924 square feet. Ivan Prochko, Orbell Ovaness and Ara Rostamian of Marcus & Millichap’s Ovaness-Rostamian Group represented the seller, an undisclosed partnership, in the transaction. Bashir Tariq of Keller Williams Realty represented the buyer, a private investor.
Voorhees, N.J. — CenterSquare has acquired Cedar Hill Shopping Center, a 16,891-square-foot retail center located in Voorhees, roughly 20 miles southeast of Philadelphia. Tenants at the property, which was fully leased at the time of sale, include Starbucks Coffee, Orange Theory, UPS, Great Clips, Vitamin Shoppe and AT&T. This marks CenterSquare’s first service property acquisition in metro Philadelphia.
Auburn, Wash. — Lightstone has acquired The Outlet Collection Seattle, an enclosed mall located in Auburn, roughly 30 miles south of Seattle. Tenants at the property, which totals 920,000 square feet, include Nordstrom Rack, Burlington, Best Buy, Dave & Busters, Polo Ralph Lauren, Kate Spade, Ulta Beauty, Coach, Nike, Adidas and Michael Kors. The mall was 98 percent occupied at the time of acquisition. Lightstone plans to implement $10 million of capital improvements and tenancy upgrades. Nicholas King, Michele Dawson and Scott Ferguson of FFO Real Estate Advisors will manage outlet …
Alpharetta, Ga. — Coro Realty Advisors has sold North Point Village, a 57,219-square-foot shopping center located in the northern Atlanta suburb of Alpharetta. Mimms Enterprises purchased the property for $19 million. Fred Victor of Atlantic Retail brokered the transaction. Tenants at the center, which is situated on 5.2 acres adjacent to North Point Mall, include Talbots, Kohler and Learning Express.
Flemington, N.J. — Target will open a 75,500-square-foot store at Flemington Marketplace in Flemington, serving as an anchor tenant at the 239,000-square-foot retail center. Vanessa Kelty of Levin Management Corp. represented the landlord, a client of New York Life Real Estate Investors (NYLREI), in the lease negotiations. Jeff Howard of Ripco Real Estate served as the tenant broker. Target will occupy a former Burlington space at the center. Other tenants at the property include Kohl’s, Michaels, ALDI, Chili’s, Panera Bread, Hallmark, Verizon Wireless, Poke Café, Cold Stone Creamery and Nail Imagine …