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Bolour-Conoga-Warner Center
CaliforniaInvestment salesNews

Bolour Associates Acquires 10,400-Square-Foot Retail Center in Woodland Hills, California

by Katie Sloan

Woodland Hills, Calif. — Bolour Associates has acquired Warner Center, a 10,400-square-foot retail property located at 5780 Canoga Ave. in Woodland Hills. The center is located near LNR Warner Center, an 800,000-square-foot office development. Michael Pakravan and Kyle Pari of Matthews Real Estate Investment Services represented both the buyer and the seller, Flamingo Investments, in the transaction. The new ownership plans to modernize and reposition the center, with planned renovations including facade and exterior upgrades, new landscaping and signage and expanded patio spaces.

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Miracle-Mile-Shops-Las-Vegas
DevelopmentNevadaNews

Institutional Mall Investors Starts Renovations at 500,000-Square-Foot Miracle Mile Shops on Las Vegas Strip

by Katie Sloan

Las Vegas — Institutional Mall Investors LLC, a joint venture between Miller Capital Advisory and CalPERS, has started renovations at Miracle Mile Shops, a 500,000-square-foot shopping center on the Las Vegas Strip. The property is attached to the Planet Hollywood Resort & Casino. The mixed-use project will remain open during construction, which is scheduled for completion in spring of 2023. The redevelopment costs were not disclosed.  New entertainment features will include exterior and interior immersive light, sound and video experiences. Miracle Mile Shops guests will also enjoy new and upgraded …

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2625-2635-Mall-View-Road-Bakersfield-CA
CaliforniaInvestment salesNews

ZDI Purchases 29,387-Square-Foot Retail Center in Bakersfield, California

by Katie Sloan

Bakersfield, Calif. — ZDI Inc. has acquired a retail center, located at 2625-2635 Mall View Road in Bakersfield, for $8.1 million through a 1031 exchange. The seller was a local partnership of real estate professionals, which has owned the property for more than 15 years after purchasing it from the original developer. Built in 2005, the 29,387-square-foot retail property is fully occupied by a variety of tenants, including a major office supply retailer. Cushman & Wakefield’s Duane Keathley and Vincent Roche represented the seller in transaction.

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FinanceInvestment salesNewsPennsylvania

MMCC Arranges $4.8 Million Acquisition Loan for Retail Property in Suburban Pittsburgh

by Katie Sloan

Monroeville, Pa. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $4.8 million acquisition loan for a 12,738-square-foot retail property in Monroeville, an eastern suburb of Pittsburgh, that is fully leased to Rite Aid. Jared Cassidy of MMCC arranged the loan, which was structured with a 10-year term, fixed interest rate and a 30-year amortization schedule, through an undisclosed credit union. The undisclosed borrower acquired the asset via a 1031 exchange.

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LeasingNewsPennsylvania

T.J. Maxx Opens 25,000-Square-Foot Store at Westfall Town Center in Matamoras, Pennsylvania

by Katie Sloan

Matamora, Pa. — T.J. Maxx has opened a 25,000-square-foot store at Westfall Town Center, a 115,360-square-foot shopping center in Matamoras, located near the confluence of the New Jersey-New York-Pennsylvania border. A 73,000-square-foot ShopRite grocery store anchors the center. Derek Zerfass and Scott Horner of Colliers represented the landlord, Chicago-based CenterPoint Properties, in the lease negotiations. The representative of the tenant was not disclosed.

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CaliforniaFinanceNews

BridgeCore Funds $2 Million Refinancing for Family Dollar-Occupied Property in Escondido, California

by Katie Sloan

Escondido, Calif. — BridgeCore has provided a $2 million bridge loan for the refinancing of a retail property located at 607 W. 9th Ave. in Escondido. The undisclosed borrower required a bridge loan to refinance a matured loan and to obtain cash-out funds to resolve a mechanic’s lien, pay-off delinquent property taxes and cover upgrades and renovations to two of the in-line units. Family Dollar occupies the retail property. BridgeCore funded the loan with a 6.5 percent pay-rate during the entire loan term, with the remaining interest accruing to loan pay-off …

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Gantry-Hawaii
FinanceHawaiiNews

Gantry Arranges $65 Million in Permanent Financing for Warehouse, Retail Portfolio in Hawaii

by Katie Sloan

Honolulu — Gantry has secured $65 million in permanent financing to recapitalize a portfolio located on Oahu. The two financed properties are Hanua Logistics Center, a recently completed 226,850-square-foot Class A warehouse facility, and Honolulu Design Center, an 80,000-square-foot retail center. Murphy Osborne of Gantry’s San Francisco office arranged the funding on behalf of the borrower, a private investor. Bank of Hawaii provided the financing, which features a 15-year term, including a significant interest-only period transitioning to 30-year amortization.

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Erindale-Square-Colorado-Springs-CO
ColoradoInvestment salesNews

CBRE Negotiates Sale of 103,552-Square-Foot Erindale Square Retail Center in Colorado Springs

by Katie Sloan

Colorado Springs, Colo. — CBRE has facilitated the sale of Erindale Square, an open-air retail property in Colorado Springs. A New York City-based investor acquired the property from a Los Angeles-based investor for $12.1 million. Situated on 6.9 acres at 5881-5975 N. Academy Blvd., the 29-unit Erindale Square features 103,552 square feet of retail space. Current tenants include Fodor Billiards, Bill’s Bed and Appliances, Cutting Edge Realtors, HomeFix and The Door Christian Center. At the time of sale, Erindale Square was 90 percent leased with 10,657 square feet still available. The …

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Village-Plaza-Augusta-GA
GeorgiaInvestment salesNews

Matthews Real Estate Negotiates $20.5 Million Sale of Village Plaza in Augusta, Georgia

by Katie Sloan

Augusta, Ga. — Matthews Real Estate Investment Services has negotiated the $20.5 million sale of Village Plaza, a shopping center in Augusta. The names of the seller and buyer were not released. Located at 270 Bobby Jones Expressway, Village Plaza features 208,269 square feet of retail space. Current tenants include Gold’s Gym, GNC, Bealls Outlet and Tractor Supply Co. The property is shadow anchored by Walmart. Johnny Blue Craig of Matthews Real Estate Investment Services represented the seller in the deal.

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Crawfordsville-Square
IndianaInvestment salesNews

JLL Brokers $18.5 Million Sale of Shopping Center in Suburban Indianapolis

by Katie Sloan

Crawfordsville, Ind. — JLL Capital Markets has brokered the $18.5 million sale of Crawfordsville Square, a 273,249-square-foot shopping center in the Indianapolis suburb of Crawfordsville. Kroger is the anchor tenant at the property, which is 95 percent leased. Other tenants include Dunham’s Sports, Burke’s Outlet, H&R Block, Shoe Sensation, Pet Supplies Plus and Burger King. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented the seller, Lamar Cos. Essential Growth Properties acquired the asset.

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