Columbus, Ohio — Bath & Body Works Inc. has appointed Gina Boswell, an industry veteran with more than 30 years of experience, to the role of chief executive officer and member of the Board. Boswell previously served in leadership positions with companies including Unilever, Alberto Culver Co. and The Estee Lauder Cos. and as a board member of the Retail Industry Leaders Association (RILA). Bath & Body’s board of directors voted unanimously in favor of appointing Boswell.
Vacaville, Calif. — Gantry has secured $23 million for the refinancing of Vacaville Commons, a 400,000-square-foot retail center located in Vacaville, roughly 30 miles southwest of Sacramento. Tom Dao and Erinn Cooke of Gantry’s San Francisco office arranged the 10-year permanent loan on behalf of the borrower, an undisclosed investment partnership. Tenants at Vacaville Commons, which is shadow-anchored by Target and Burlington, include Safeway, Ross Dress for Less, Big 5, Chase Bank, Chick-fil-A and Chili’s.
Woodstock, Ga. — US Fitness Holdings LLC has announced a definitive agreement to acquire a property at 301 Gold Creek Trail in Woodstock, roughly 30 miles north of Atlanta. The 69,000-square-foot sports club, currently operated as a Gold’s Gym, will be converted into a Onelife Fitness club. Onelife will retain existing staff and memberships and invest a projected $1.5 million into updating the facility. Amenities will include cardio and strength equipment, turf training areas, a spin studio, studios featuring fitness classes, a sauna, recovery studio, Olympic lifting platforms and a …
Orange, Calif. — PSRS has arranged $15 million in financing for Galleria L’Orange, a multi-tenant retail center in Orange, roughly 30 miles outside of Los Angeles. Michael Tanner and Tony Messiah of PSRS secured the non-recourse loan, which features a 10-year term and 30-year amortization. A correspondent life insurance company provided the capital. Situated on 3.1 acres, the three-building property offers 40,323 square feet of retail space and 180 parking spaces. Tenants include Starbucks Coffee, Supercuts, U.S. Bank, H&R Block and T-Mobile.
Houston — The Shops at Arrive Upper Kirby, a 65,000-square-foot retail center located at 3300 Kirby Drive in Houston, has recently signed leases with two new tenants, bringing the center to 100 percent occupancy. Agenda Houston, an urban streetwear store, will lease 3,870 square feet of space; and Haii Keii, a Japanese restaurant, will occupy 2,878 square feet. Crystal Allen and Kim Bernick of Transwestern Real Estate Services (TRS) arranged the leases on behalf of the landlord, an entity doing business as CP5 Kirby Collection LLC, which acquired the property …
Kyle, Texas and Zebulon, N.C. — Northmarq has secured financing for the acquisition of Plum Creek Village and Zebulon Crossing, two retail centers located in Texas and North Carolina. Ory Schwartz of Northmarq arranged the two loans, totaling $9.3 million, through a life insurance company on behalf of an undisclosed individual investor. Financing included $5.25 million for the purchase of Plum Creek Village, a 19,899-square-foot shopping center located in Kyle, Texas. The property is home to tenants including Shipley’s Tropical Smoothie Café and Action Behavior Center. Tenants at the 30,475-square-foot …
Arlington, Texas — Trademark Property Co. has purchased Lincoln Square, a 470,000-square-foot retail center located at 1500 N. Collins St. in Arlington. Trademark will redevelop the property into a mixed-use development through a 30-year public-private partnership (P3) with the City of Arlington. Terms of the P3 require the developer to invest a minimum of $150 million over the next six years. The City Council has approved a co-investment of $14.2 million, and local residents will have input on the project. Current tenants at the property include Studio Movie Grill, Ulta …
Longmont, Colo. — An affiliate of Pine Tree, in partnership with Wafra Inc., has purchased Harvest Junction, a 364,000-square-foot retail center located in Longmont, roughly 15 miles outside of Boulder. Barry Brown, Bryan Ley and Jason Schmidt of JLL brokered the $73.8 million transaction. Shadow-anchored by Lowe’s, the retail center features tenants including Best Buy, Dick’s Sporting Goods, Marshalls, Ross Dress for Less, Michael’s, Petco and DSW. This acquisition marks the third for Pine Tree in Colorado.
Indianapolis and Riverdale, Ga. — Marcus & Millichap’s IPA Capital Markets division has arranged $25.2 million in financing for the acquisition of Linwood Square and Merchants Square. The retail centers are anchored by Kroger and located in Indianapolis and Riverdale, Georgia, respectively. Sunny Sajnani and Duke Dennis of Marcus & Millichap arranged the financing through two separate, undisclosed banks on behalf of the borrower, Essential Growth Properties (EGP). Financing was secured in the form of five-year loans. The loan for Linwood Square is floating rate with an interest-only period of …
Virginia Beach, Va. — Matthews Real Estate Investment Services has brokered the sale of a 13,225-square-foot store located at 1701 Independence Blvd. in Virginia Beach. The single-tenant property was leased to CVS/pharmacy at the time of sale. Preston Schwartz and Chad Kurz of Matthews represented the private seller in the transaction. Jason Maier of Stan Johnson Co. represented the undisclosed buyer, which acquired the property for $10.6 million. CVS/pharmacy has a little over 12 years remaining on the lease.
