Plant City, Fla. — International Finance has provided a $13.3 million mortgage for Plant City Crossing, an 85,252-square-foot retail center located in Plant City, roughly 23 miles west of Tampa Bay. The borrower is Fraga Plant LLC, an affiliate of Coral Gables, Florida-based Fraga Properties. Publix anchors the property, which features a mix of additional tenants including Dollar Tree and Burger King.
Carlsbad, Calif. — Archway Capital has provided a $42.9 million loan for the acquisition of a major retail portion of The Shoppes at Carlsbad, a 1.1 million-square-foot regional shopping center located in Carlsbad, roughly 35 miles north of San Diego. The borrower was Los Angeles-based Steerpoint Capital. The portion that was acquired comprises 727,000 square feet and is currently 74 percent occupied with a tenant mix featuring Yard House, The Cheesecake Factory, Hollister, American Eagle Outfitters, Dave & Busters, 24 Hour Fitness and Regal. The anchor tenants at the center, …
Terrell, Texas — BWE has arranged $36 million in refinancing for Crossroads at Terrell, a 260,877-square-foot power center located in Terrell, roughly 32 miles east of Dallas. Completed between 2022 and 2024 on nearly 30 acres, the center is anchored by Hobby Lobby and Academy Sports + Outdoors. Other tenants include Burke’s Outlet, Marshalls, Petco, Ulta Beauty and Rack Room Shoes. Matt Good of BWE’s Greenville, South Carolina, office originated the fixed-rate loan from a life insurance company lender on behalf of the borrower, a national retail developer.
Signal Hill, Calif. — Marcus & Millichap has arranged the $6.2 million sale of the Signal Hill Gateway Center, a four-tenant retail pad located in Signal Hill, just north of Long Beach. Tenants at the property, which was fully leased at the time of sale, include Starbucks Coffee, Dollar Tree, Chipotle Mexican Grill, Milano Nail Lounge and a Bank of America ATM. Built in 2015 on 1.2 acres, the retail pad comprises 6,535 square feet of gross leasable space. Sheila Alimadadian of Marcus & Millichap represented the seller, Khouraki Corp. …
Mobile, Ala. — Mobile-based Burton Property Group and Peaceable Street Capital have closed the $123 million recapitalization of a four-property shopping center portfolio in Alabama. The properties include Riviera Square and Foley Square in Foley, Jubilee Square in Daphne and Westwood Plaza in Mobile. The 785,000-square-foot portfolio was 98 percent leased at the time of the recapitalization, details of which were not disclosed. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL arranged the financing on behalf of Burton Property Group, which will use its newfound capital flexibility on its …
Vancouver, Wash. — Gantry has secured a $27.8 million permanent loan to refinance maturing debt for Hazel Dell Marketplace, a 227,680-square-foot retail center in Vancouver. Situated on 28 acres across 11 buildings, Hazel Dell is anchored by Safeway. Other tenants at the center include Ross, Marshalls, Parkrose Hardware, Sola Salons, Killer Burger and Sally Beauty. Blake Hering and Abi Hunter of Gantry represented the borrower, a family office owner and developer partnership between two family office groups, in the financing. The fixed-rate, 10-year loan was secured from one of Gantry’s correspondent …
San Diego — JLL Capital Markets has arranged the $34.9 million sale and financing of The Headquarters, a 73,823-square-foot open-air shopping center in San Diego’s Marina District at the entrance to Seaport Village. A private real estate investment firm sold the property to a private real estate partnership. The Headquarters, formerly the San Diego Police headquarters complex, was completely repositioned in 2013 and features a mix of food and beverage, daily needs and apparel tenants. The property was 83.3 percent leased at the time of sale. Current tenants include Eddie …
Dunwoody, Ga. — Marcus & Millichap Capital Corp. (MMCC) has arranged $4 million in financing for the acquisition of Dunwoody Village, a 15,382-square-foot retail center located in Dunwoody, a suburb of Atlanta. David Johnson of MMCC’s Atlanta office secured the loan with a national bank on behalf of a private client. The five-year loan includes a 6.41 percent interest rate with a 30-year amortization schedule. Shadow anchored by The Fresh Market and Walgreens, Dunwoody Village features a mix of tenants including CVS Pharmacy, Chipotle Mexican Grill and a pet store.
Hoffman Estates, Ill. — Claire’s U.S., the operator of Claire’s and Icing stores across the United States, has filed for Chapter 11 bankruptcy protection in Delaware. The jewelry retailer listed both its liabilities and assets between $1 billion to $10 billion. Hoffman Estates-based Claire’s previously filed for Chapter 11 bankruptcy in 2018. Claire’s says that the proceedings will enable the company to immediately commence the monetization process for its assets to maximize value for the business. The retailer is continuing a comprehensive review of strategic alternatives, including discussions with potential …
Framingham, Mass. — New York City-based Urban Edge Properties (NYSE: UE) has closed on a $123.6 million interest-only mortgage for a portion of Shoppers’ World, a 752,000-square-foot super regional power center located in Framingham, a western suburb of Boston. The four-year Secured Overnight Financing Rate (SOFR) loan was swapped and converted to a 5.12 percent fixed interest rate. The company then used a portion of the proceeds from the financing to pay off the $90 million outstanding balance on its line of credit with its original 5.48 percent interest rate. …
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