Newington, N.H. — Morgan Stanley has sold Mall at Fox Run, a 250,000-square-foot mall located in Newington, to Torrington Properties. Tenants at the property include Seacoast Cars & Coffee, Aeropostale, American Eagle, Bath & Body Works, H&M, LOFT, Men’s Wearhouse and Yankee Candle. The buyer previously completed the $11.5 million purchase of a 130,400-square-foot vacant former Sears store at the property in October 2022 and has plans to transform the mall into a mixed-use development.
East Norriton, Pa. — JLL Capital Markets has brokered the $23.1 million sale of Dekalb Plaza, a 178,356-square-foot shopping center located in East Norriton, roughly 22 miles outside Philadelphia. Urban Air and Big Lots anchor the property, which was 98 percent occupied at the time of sale. Other tenants at the center include Goodwill, Chick-fil-A, Applebee’s, Sally Beauty and Celebree School. Christopher Munley, James Galbally, Colin Behr and James Graf of JLL represented the seller, Broad Street Realty, in the transaction. Abrams Realty & Development acquired the property.
Oxnard, Calif. — Marcus & Millichap Capital Corp. has arranged a $7.5 million loan for the acquisition of a 37,500-square-foot single-tenant retail property located in Oxnard. Esporta Fitness occupies the building, which was constructed in 1970 and renovated in 2017. Ron Balys secured the financing on behalf of the buyer.
Deer Park, Ill. — Three new tenants have joined Deer Park Town Center, a shopping center located approximately 35 miles outside Chicago in Deer Park. Sweetgreen has opened a 2,156-square-foot restaurant and Victoria’s Secret has signed a 4,965-square-foot lease at the property. The Shade Store will also open at the center in spring 2024.
San Diego — Kilroy Realty Corp. (NYSE: KRC), an office, mixed-use and life sciences REIT based in Los Angeles, has obtained a $375 million loan for a portion of One Paseo, a mixed-use campus in San Diego. New York Life Insurance Co. provided the 11-year, non-recourse loan, which features a fixed 5.9 percent interest rate. The loan matures in August 2034. The 36-acre property is situated between the city’s Carmel Valley neighborhood and Del Mar, as well as near I-5 and State Route 56. One Paseo is home to tenants including …
Upper Marlboro, Md. — Finmarc Management Inc. has sold Largo Town Center, a 280,000-square-foot retail center in the Upper Marlboro suburb of Washington, D.C., for $70 million. The investment firm purchased the shopping center in 2019 when it was 80 percent occupied. John Donnelly of John C. Donnelly Inc. and Arthur Benjamin and Alex Alperstein of AdvisoRE LLC represented the buyer, an investment group led by Bethesda-based KPI Commercial LLC, in the transaction. Joseph Hoffman of Kelley Drye Warren provided legal services to Finmarc. Tenants at the property include Marshalls, Shoppers …
Las Vegas —Bojangles has signed a development agreement for 20 new restaurants in Las Vegas, as well restaurants within 10 TravelCenters of America franchise locations. TravelCenters of America franchisee LVP Restaurant Group LLC, an entity of LV Petroleum, and its investment partner, Kingsbarn Realty Capital, will lead the projects. In partnership with LVP Restaurant Group, Kingsbarn will identify and acquire properties suitable for the new Bojangles developments. In July, Bojangles launched its expansion strategy, including a streamlined menu, new building design and new staffing model.
Great Falls, Va. — Marcus & Millichap has brokered the $5.2 million sale of Seneca Corner, a 5,760-square-foot shopping center located in Great Falls, roughly 20 miles outside Washington, D.C. Tenants at the fully leased property include Jersey Mike’s, Domino’s and Five Guys. Dean Zang, David Crotts and Josh Ein of Marcus & Millichap arranged the sale on behalf of the seller, an entity related to the Republic Family of Cos.
Los Angeles — Lazy Acres Natural Market has opened a 31,000-square-foot store in the Los Feliz neighborhood of Los Angeles, marking the sixth location for the brand. Landlord CGI+ Real Estate Investment Strategies developed the space after purchasing three adjacent properties, one of which was home to a 23,000-square-foot Rite Aid, in separate transactions. CGI+ reduced the existing building to its shell and core and rebuilt the structure with 8,500 square feet of new construction and added a parking lot. Lazy Acres offers natural and organic groceries, a bakery, coffee and …
Dallas — Westwood Financial has acquired Northview Plaza, a 120,000-square-foot retail center located in Dallas. Tenants at the property, which is anchored by Kroger and was 89 percent leased at the time of sale, include Petco and McDonald’s. The transaction was executed directly with the undisclosed seller.
