Westbury, N.Y. — Northmarq has arranged the $80 million refinancing of Roosevelt Raceway Center, a 428,483-square-foot shopping center located in the Long Island community of Westbury. The center, which sits on a 48-acre site less than a mile from Roosevelt Field Mall, houses tenants such as The Home Depot, Food Bazaar Supermarket, David’s Bridal and PGA Tour Superstore. Robert Delitsky and Charles Cotsalas of Northmarq arranged the fixed-rate loan through a regional bank on behalf of an undisclosed borrower.
Hazlet, N.J. — Onyx Equities and Siguler Guff & Co. have signed leases with three new tenants at Hazlet Town Center, a 200,000-square-foot shopping center located in Hazlet, roughly 40 miles outside New York City. Totaling 9,614 square feet, the new leases bring the property — which the two companies acquired as a joint venture in 2016 — to 92 percent occupancy. Pierson Commercial Real Estate arranged the leases on behalf of the owners. K-Pot Korean BBQ will occupy 7,014 square feet; The UPS Store will occupy 1,600 square feet; …
Simi Valley, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of Simi Valley Promenade, an 82,366-square-foot shopping center located in Simi Valley. A private investor represented by Avi Narang of BRC Advisors acquired the property for $19.6 million. Bill Asher, Jeff Lefko and Ed Hanley of Hanley represented the seller, Toibb Enterprises. Built in 1981, the property was 92 percent leased at the time of sale to tenants including Smart & Final, Goodwill, Del Taco, Denny’s, Chi Chi’s Pizza and H&R Block.
Lawndale, Calif. — Beta Agency has brokered the sale of Lawndale Plaza, a retail center located approximately 20 miles outside of Los Angeles in Lawndale. A private entity operating in a 1031 exchange acquired the property for $14 million. The center was fully leased at the time of sale to tenants including Smart & Final, Subway, Wingstop, Panda Express, Daily Nails & Spa and Wells Fargo. Richard Rizika and Vanessa Zhang of Beta represent the undisclosed seller, a private shopping center owner, in the transaction.
Huntsville, Ala. — Northmarq has arranged the $22.5 million refinancing of Village on Whitesburg, a 118,356-square-foot shopping center located in Huntsville. Randy Wolfe of Northmarq’s Atlanta office secured the permanent, fixed-rate financing on behalf of the undisclosed borrower through a commercial bank. The loan features a seven-year term and 25-year amortization schedule. The Fresh Market anchors the property, which is home to tenants including AT&T, Bonefish Grill, Drake’s, Nadeau, Panera Bread and Learning Express.
El Dorado Hills, Calif. — Gantry has arranged the $16.8 million refinancing of Market Place at Town Center, a retail center located in El Dorado Hills, roughly 30 miles northeast of Sacramento. Comprising 134,600 square feet, the property is anchored by Nugget Markets. Robert Slatt and Andrew Ferguson of Gantry secured the 10-year, fixed-rate permanent loan on behalf of the borrower, a private investor. A regional bank provided the financing.
Burnham, Penn. — Axiom Realty Services has acquired Greater Lewistown Plaza, a 177,752-square-foot shopping center in Burnham. Weis Markets anchors the center, which was 94 percent leased at the time of sale. Other tenants include J.C. Penney, Dunham’s Sports, Geisinger Health and Citizens Bank. Bennett Williams of Bennett Williams Commercial represented the seller, Northpath Investments, in the transaction.
Margate, Fla. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $10 million loan for the refinancing of Carolina Springs Plaza, a grocery-anchored, 125,500-square-foot shopping center located in Margate. El Bodegon Supermarket has anchored the 13.4-acre property since 2011. Robert Bhat of MMCC’s Miami office arranged the 10-year, fixed-rate loan, which features a 25-year amortization schedule and 70 percent loan-to-value ratio. The borrower and direct lender were not disclosed.
Omaha, Neb. — Hanley Investment Group Real Estate Advisors has arranged the $17.2 million sale of Applewood Centre, a 112,005-square-foot shopping center located in Omaha. Hy-Vee anchors the property, which was 98.6 percent occupied at the time of sale. Jeff Lefko and Bill Asher of Hanley represented the seller, Woodsonia Real Estate, in the all-cash transaction. A Portland-based family office purchased the property. Hy-Vee has occupied the property since the shopping center’s original construction and has expanded and renovated its store over the past 10 years, adding a drive-thru to …
Cullman, Ala. — First National Realty Partners (FNRP) has purchased Cullman Shopping Center, a 304,935-square-foot retail center located in Cullman, roughly 50 miles north of Birmingham. A 45,600-square-foot Publix anchors the property, which features other tenants including Belk, Dick’s Sporting Goods, Ross Dress for Less, Ulta Beauty, Five Below and PetSmart. Kyle Stonis of SRS represented the undisclosed seller in the transaction.