Glendale, Ariz. — Gantry has secured $13 million of permanent financing for the acquisition of a 11.57-acre parcel at Arrowhead Marketplace in Glendale. Tim Storey of Gantry’s Phoenix office secured the 10-year, fixed-rate loan featuring a 25-year amortization for the borrower, Arizona Partners, through a correspondent life company lender. Office Depot, Dollar Tree, Boot Barn, Party City and Salt Creek Home Furnishings are tenants at the 128,500-square-foot retail center.
Bossier City, La. — Routh Group has purchased Louisiana Boardwalk, a 560,343-square-foot, open-air shopping center located at 540 Boardwalk Blvd. in Bossier City, a northern Louisiana city bordering Shreveport. Adam Howells, Ryan Shore, Zach Riebe, Matthew Barge and Cole Sutter of JLL represented the undisclosed seller that sold the value-add property for $30.5 million. Situated along I-20 and the Red River, Louisiana Boardwalk is within walking distance of two major casinos: Margaritaville Resort Casino and Horseshoe Bossier City Casino. The shopping center was 67 percent leased at the time of …
Edwardsville, Glen Carbon and Highland, Ill. — NorthMarq has arranged a $12.5 million loan for the refinancing of a five-property retail portfolio in metro St. Louis. The centers, built between 1998 and 2019, total about 110,000 square feet and are located in Edwardsville, Glen Carbon and Highland. Jeff Chaney of NorthMarq arranged the fixed-rate loan, which features a 20-year term and a 20-year amortization schedule. A life insurance company provided the loan to the borrower, R.L.P. Development Co. Inc.
Terre Haute, Ind. — Hanley Investment Group Real Estate Advisors has arranged the sales of a 41,663-square-foot retail center and a freestanding Starbucks Coffee location in Terre Haute. The properties are both portions of South Pointe Crossing, a retail center shadow-anchored by Kroger on U.S. Highway 41. Dylan Mallory of Hanley, in association with ParaSell Inc., represented the seller, Thompson Thrift Commercial, in both transactions. A private family office based in Erie, Pennsylvania, acquired the 2,212-square-foot Starbucks outparcel for $1.8 million. Drew Baldwin and Jake Duska of Baldwin Brothers Inc. …
Woodinville, Wash. — NorthMarq has secured $2.5 million in financing for the $6.9 million acquisition of Hilltop Retail Center, a 15,094-square-foot property located roughly 20 miles northeast of Seattle in Woodinville. The center was constructed in 2008 at 15610 Woodinville-Duvall Road and was fully leased at the time of sale. Bob Spiro and Scott Moline of NorthMarq secured the permanent-fixed loan, which features a 20-year term, on behalf of the undisclosed borrower through a life insurance company.
Miami — Rockpoint and Ivanhoe Cambridge have sold Mary Brickell Village, a Publix-anchored mixed-use property in Miami’s Brickell district. RPT Realty purchased the 200,503-square-foot development for $216 million. Danny Finkle, Chris Angelone, Matthew Lawton, Eric Williams and Kim Flores of JLL represented the sellers in the transaction. Situated on 5.2 acres at 901 S. Miami Ave., Mary Brickell Village’s tenant roster includes Miami’s only LA Fitness Signature Club, as well as Moxie’s, North Italia, P.F. Chang’s, Shake Shack, Blue Martini, Starbucks Coffee, Massage Envy, Candela Gastro Bar and EWM Realty. The mixed-use …
Plantation, Fla. — SRS Real Estate Partners has brokered the $7.4 million sale of Bank of America Plaza, a 13,000-square-foot retail building located at 7001 W. Broward Blvd. in Plantation. Situated in South Florida’s Broward County, the property was built in 2004 and leased to Bank of America. Brandon Woulfe of SRS represented the seller, an entity doing business as 7001 Plantation 2009 LP, in the off-market transaction. Don Ginsburg of Katalyst Real Estate represented the buyer, Barron Real Estate.
Chicago — J.C. Anderson has completed the interior buildout of Color Factory, an interactive art museum. The venue is now open to the public and is situated within Chicago’s Willis Tower. The 24,000-square-foot space represents Color Factory’s largest venue and flagship location. Color Factory also operates locations in Houston and New York City. The Willis Tower location showcases interactive installations and curated exhibits inspired by the city of Chicago. J.C. Anderson built 10 galleries that incorporate 117 different paint colors. The project team included Shorecrest Project Management, Partners by Design and …
Birmingham, Ala. — JLL Capital Markets has brokered the sale of Brook Highland Plaza, a 594,466-square-foot retail center located in Birmingham. The property was 98 percent leased at the time of sale to tenants including Sprouts Farmers Market, Best Buy, Burlington, HomeGoods, Lowe’s Home Improvements, Ashley Furniture, Goodwill, Ulta Beauty, Party City, Office Max, Michaels, Five Below, Club 4 Fitness and Petco. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the seller, a joint venture between DRA Advisors and DLC Management, in the disposition of the property to …
Orlando, Fla. — Plaza Advisors has arranged the sale of Oakhill Village, a 103,427-square-foot shopping center located at the intersection of Hiawassee and Old Winter Garden roads in Orlando. An offshore investor doing business as Escape 22 Oakhill LLC purchased the center from an entity doing business as Oakhill Village Associates Ltd. for an undisclosed price. Built in 1989, Oakhill Village is situated on 11.4 acres about 10 miles northwest of Orlando International Airport. The property was 99 percent leased at the time of sale to tenants such as anchor …
