Marana, Ariz. — Gantry has arranged a $7.8 million permanent loan for the refinancing of a retail property located in Marana, roughly 20 miles outside Tucson. Comprising 26,387 square feet, the property is situated within the Shoppes at Continental Ranch and shadow anchors an independently owned Safeway building and four pad buildings. Tony Kaufmann and Alex Poulos of Gantry secured the 10-year financing on behalf of the borrower.
Elmsford, N.Y. — A joint venture between New York-based DLC Management Corp. and funds managed by DRA Advisors has acquired a portfolio of retail centers for $100 million. The portfolio comprises four properties located in Colorado, New Jersey, Arizona and Ohio. Located in Aurora, Colorado, Cornerstar totals 380,479 square feet and is anchored by Target, Marshalls, HomeGoods, 24 Hour Fitness, Nike and Ulta Beauty. Cross Keys Place in Sewell, New Jersey, comprises 147,694 square feet and is anchored by Michaels, Old Navy, Petco and Edge Fitness. The Shops at Prescott Gateway …
Phoenix — Colliers has arranged the sale of South Mountain Crossing, an 89,389-square-foot retail center located in Phoenix. ACP Management acquired the property. Tenants at the center include SkyZone Trampoline Park, Goodwill and Kids Empire. Mindy Korth, JK Jackson, El Warner and Caitlin Zirpolo of Colliers represented the seller, Lamar Cos., in the transaction.
Phoenix — Matthews Real Estate Investment Services has arranged the $9.5 million sale of a retail property located in Phoenix. Built in 2002 on 5.13 acres, the building comprises 45,000 square feet. LA Fitness occupies the property. The tenant’s current lease extends through 2025. Brandon Perez of Matthews represented the seller in the deal.
Sun City, Ariz. — Gantry has secured a $7.5 million permanent loan for the refinancing of Sun Shadow Square, a retail center located in Sun City, roughly 22 miles outside Phoenix. Tenants at the 84,000-square-foot property include Ace Hardware, H&R Block and Archwell Health. Tim Storey of Gantry secured the 10-year financing on behalf of the undisclosed borrower.
Chandler, Ariz. — ORION Investment Real Estate has arranged the $4.6 million sale of a retail strip center located in Chandler. Max Taylor & Co. LLC sold the asset to The Yerahmiel Rocky Rotshein Property Trust. The property was fully leased at the time of sale. Nick Miner of ORION represented the seller in the transaction. Simon Asef of DMC Real Estate represented the buyer.
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The Picklr to Open 80 New Venues in 11 States
Kaysville, Utah — Utah-based indoor pickleball brand The Picklr will open 80 new venues across eleven states, including Arizona, Colorado, Florida, Georgia, Illinois, Minnesota, Nevada, Tennessee, Texas, Utah and Wyoming. The facilities will be opened in partnership with 13 new franchisees. “With seven corporate owned facilities, our first-mover advantage has undeniably led to a high level of interest from well capitalized candidates across the entire country,” says Scott Schubiger, chief growth officer of The Picklr.
Chandler, Ariz. — Jewell Capital has sold SanTan Gateway North, a 123,558-square-foot retail center in Chandler. Coast Meridian Properties acquired the property for $26.6 million. Situated on 17.1 acres, the center is leased to tenants including Walmart Supercenter, O’Reilly Auto Parts, Dollar Tree, Sky Zone and Shane Co. Additionally, Wendy’s, Del Taco and JPM Chase occupy three outparcels. Darren Tappen, Nathan Thinnes and Peter Beauchamp of Kidder Mathews represented the seller in the transaction.
Queen Creek, Ariz. — Sprouts Farmers Market has opened a 50,000-square-foot store at Vineyard Towne Center, a 23-acre retail development currently underway by Vestar in the Phoenix suburb of Queen Creek. Sprouts is the anchor tenant of Phase I of the project. A 145,000-square-foot Target will open in April 2025 and anchor the development’s Phase II. Other tenants at Phase I, which is currently 90 percent leased, include Chunk Cookies, Cinnaholic, Dentists of Queen Creek, European Wax Center, MOD Pizza, Mountain America Credit Union, Mr. Pickles, Nekter Juice Bar, Ono Hawaiin …
Arizona and Florida —SRS Real Estate Partners has arranged the $94 million sale of seven single-tenant EoS Fitness properties in Arizona and Florida. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller, Barclay Group, in the transaction. A publicly traded REIT acquired the properties. Tyler McRae of SRS, along with Echelon Realty Advisors, was responsible for leasing the assets on behalf of EoS Fitness. The portfolio includes two properties in Mesa, Arizona, comprising 57,803 and 51,716 square feet, as well as properties in Tempe, Scottsdale and Queens Creek, …