Auburn, Wash. — NorthMarq has secured $14.5 million in refinancing for Lakeland Commons Retail, a shopping center located at 1502 Lake Tapps Parkway SE in the Seattle suburb of Auburn. The 10-year loan features a 30-year amortization schedule. Walgreens is a tenant at the 35,000-square-foot strip retail center. Bob Spiro and Scott Moline of NorthMarq’s regional Seattle office secured the refinancing.
Pekin, Ill. — Friedman Real Estate has brokered the sale of Broadway Village Shopping Center in Pekin, about 10 miles south of Peoria. The 69,584-square-foot property, built in 1970, is located on Broadway Street. Dollar General is the sole tenant in the center, which at the time of sale was only 8 percent occupied. Kyle Simon of Friedman brokered the sale. Buon Properties LLC purchased the asset from Cohen Development Co.
Owings Mills, Md. — Neuman Commercial Group has arranged the sale of Owings Mills Retail Center, a 22,782-square-foot property located at 9400-9424 Reisterstown Road in the Baltimore suburb of Owings Mills. The property is 94 percent occupied by tenants such as NTB Tire & Service, Dunkin’, Jersey Mike’s Subs and The Vitamin Shoppe. Gil Neuman of Neuman Commercial Group represented the seller, Cohen‐Fader LLP, in the disposition of the property for $8.1 million. Neuman also procured the private undisclosed buyer.
Yonkers, N.Y.— Katz & Associates has brokered the sale of a retail building formerly occupied by 24 Hour Fitness in Yonkers, a northern suburb of New York City. The building is situated on a 1.7-acre site at 589 Tuckahoe Road. Brian Katz, Jonathan Greenberg and John Heretakis of Katz & Associates represented the undisclosed seller in the deal. Tyler Lyman of True Commercial represented the buyer, Carpionato Realty, which purchased the asset for $4.2 million.
Chicago — JLL Capital Markets has arranged $197 million in senior debt for the refinancing of a 10-property retail portfolio totaling over one million square feet. The portfolio is located in metropolitan areas surrounding Baltimore, Maryland; Chicago; San Diego; Los Angeles; San Francisco; Seattle; and Washington, D.C. Tarik Bateh, Greg Brown, Bruce Ganong, Keith Largay, Chris Hew and Drew Heitstuman of JLL secured 10 independent first mortgage loans on behalf of the borrower, an existing co-investment partnership managed by Regency Centers Corp. Financing was provided by Hartford Investment Management Co. …
Dania Beach, Fla. — Aztec Group Inc. has arranged a $7.6 million loan for the refinancing of Stirling Square, a 25,515-square-foot shopping center located in Dania Beach. Located at 700 Stirling Road, the property is ground-leased to a 22,000-square-foot Aldi and a 3,515-square-foot 7-Eleven. Howard Taft and Joel Zusman of Aztec Group originated the financing through an unnamed life insurance company based in Idaho on behalf of the borrower, an affiliate of Salzman Real Estate Advisors. The 15-year loan featured a fixed interest rate below 3.8 percent and was structured …
Quincy, Mass. — JLL Capital Markets has arranged the $295 million sale of a portfolio of 11 single-tenant retail buildings net leased on a long-term basis to Stop & Shop in markets throughout Connecticut, Massachusetts and Rhode Island. JLL marketed the portfolio on behalf of the sellers, Winstanley Enterprises and Surrey Equities. The Inland Real Estate Group of Cos. Inc. was the buyer. Additionally, JLL arranged two acquisition loans totaling approximately $158 million on behalf of the new owner. The two 10-year, fixed-rate loans were originated by JLL through a …
Strongsville, Ohio — CBRE’s National Retail Partners Midwest Team has brokered the sale of SouthPark Mall in Strongsville, a suburb of Cleveland. The sales price was undisclosed. The 1.4 million-square-foot regional mall is located at 500 Southpark Center. Anchor tenants include Dick’s Sporting Goods, Cinemark, Kohl’s, Macy’s, Dillard’s and JCPenney. CBRE represented the seller, a private equity firm. An East Coast-based private investment firm was the buyer.
Henderson, N.C. — Marcus & Millichap has brokered the $7.2 million sale of a Food Lion-anchored, 182,646-square-foot shopping center located in Henderson. David Gant and Lori Schneider of Marcus & Millichap represented the seller, a limited liability company. The duo also represented the buyer, a limited liability company.
Houston, Texas — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant Burger King with a double-drive-thru in Houston. Brad Dessy and Matt Burnett of Hanley Investment Group, in conjunction with ParaSell Inc., represented the seller, a private investor based in Spring, Texas. Jeff Lefko of Hanley Investment Group represented the buyer, a private investor based in New Hampshire. The property was completely rebuilt in 2015 to convert an existing building into Burger King’s latest double-drive-thru prototype. The 3,000-square-foot building is situated on 1.02 acres at …