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FinanceNevadaNewsTennessee

NorthMarq Secures Financing for Two Retail Properties in Tennessee, Nevada

by Julia Sanders

Nashville, Tenn. and Reno, Nev. — Ron Reese of NorthMarq has secured financing for two retail properties in Tennessee and Nevada through Genworth Financial. The first property, Nashville West Outparcels, consists of seven parcels with 14 buildings totaling 77,275 square feet. The property was refinanced for $21.5 million. Nashville West Outparcels is 93 percent leased to tenants including McDonalds, Firestone, Starbucks Coffee, Chipotle Mexican Grill, Outback Steakhouse and GameStop. The second retail property, Pavilions Retail Center in Reno, received a 20-year, $11.5 million financing. The 76,954-square-foot center is home to …

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Investment salesNewsTexas

CBRE Capital Markets Arranges $32 Million Financing for Town Center Colleyville in Metro Dallas

by Julia Sanders

Colleyville, Texas — CBRE Capital Markets has arranged $32 million in bridge financing for Town Center Colleyville, a 246,327-square-foot grocery-anchored shopping center located in the Dallas-Fort Worth suburb of Colleyville. Sterling Organization acquired the Market Street-anchored center in early 2020. Shaun Moothart, Dana Summers, Scott Lewis and Frank Piasta of CBRE Capital Markets originated and secured the financing on behalf of the owner through Rialto Capital. The loan will provide a three-year initial term, with two one-year extension options.

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Starbucks Coffee
IllinoisInvestment salesNews

Newcastle Properties Acquires 7,763-Square-Foot Retail Center in Suburban Chicago

by Julia Sanders

Elmhurst, Ill. — Newcastle Properties has acquired a 7,763-square-foot retail center in Elmhurst, a western suburb of Chicago. Built in 2016, the property is fully leased to Starbucks Coffee, Hand & Stone Massage, T-Mobile and Bentley’s Pet Stuff. The center is shadow-anchored by LA Fitness. Sean Devine of Newcastle sourced and managed the acquisition. Beth Sansiper and Jeff Gurian of Becker & Gurian represented Newcastle in the transaction. The seller and sales price were undisclosed.

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The Press
DevelopmentFinanceFloridaNews

Tricera Capital Obtains $50.8 Million Loan for Adaptive Reuse Development in West Palm Beach

by Julia Sanders

West Palm Beach, Fla. — Tricera Capital has obtained a $50.8 million loan for The Press, a mixed-use project in West Palm Beach. The transaction refinances an existing loan and provides the company with funding to complete its redevelopment of the existing Palm Beach Post campus. Jason Krane and Simon Ziff of Ackman-Ziff Real Estate Group arranged the financing on behalf of Tricera through Monroe Capital LLC. Law firm Polsinelli served as Tricera’s legal representative for the transaction. Located on more than 11 acres at 2751 S. Dixie Highway, the …

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2360 N Tustin Ave.
CaliforniaGrocery-anchoredInvestment salesNews

Stream Realty Partners Buys 49,334-Square-Foot Shopping Center in Santa Ana, California

by Julia Sanders

Santa Ana, Calif. — Stream Realty Partners has acquired a grocery-anchored shopping center located at 2360 N. Tustin Ave. in Santa Ana. Previously owned by two private owners for 50 years, Stream purchased both the leasehold interest and the fee simple. Stater Bros. Markets has been a tenant since the property’s completion. Additionally, Stream acquired the 0.78 acres of adjacent land, which currently features two residential units, for future development. As a result of the transaction, Stater Bros. has renewed its 25,587-square-foot lease and Del Taco renewed its 1,859-square-foot lease …

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Zinfandel Crossings
CaliforniaInvestment salesNews

Hanley Investment Completes Break-up Sale at Zinfandel Crossings Shopping Center in Rancho Cordova, California

by Julia Sanders

Rancho Cordova, Calif. — Hanley Investment Group Real Estate Advisors has arranged the fourth and final transaction in the break-up sale strategy of Zinfandel Crossings, a retail property anchored by 99 Cents Only in Rancho Cordova. The firm has brokered the sales of more than $11.4 million in retail properties at the shopping center. Kevin Fryman, Bill Asher and Ed Hanley of Hanley Investment Group represented the seller, a Santa Monica-based private investor. The buyer was a Stockton, California-based private investor. The final sale was that of a vacant 26,520-square-foot …

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FinanceInvestment salesNewsTexas

NorthMarq Arranges $3.8 Million Acquisition Loan for Louetta Creek Plaza in Metro Houston

by Julia Sanders

Spring, Texas — NorthMarq has arranged a $3.8 million acquisition loan for Louetta Creek Plaza, a 26,472-square-foot retail center in the northern Houston suburb of Spring. Tenants at the property include State Farm, Snowflake Donuts, Expro Nails, Leslie’s Pool Supplies and Pizza Zone. Travis Fite of NorthMarq arranged the fixed-rate loan through life company StanCorp on behalf of the undisclosed borrower. The seller was also not disclosed.

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Ruccio Pavilion
Investment salesKentuckyNews

NAI Isaac Brokers Sale of 17,649-Square-Foot Shopping Center in Lexington, Kentucky

by Julia Sanders

Lexington, KY. — NAI Isaac has brokered the sale of Ruccio Pavilion, a 17,649-square-foot shopping center located at 220 Ruccio Way in Lexington. Al Isaac and Jim Holbrook of NAI Isaac represented the seller, Legacy Investments LLC, in the transaction. John Bunch of SVN Stone represented the buyer, an entity doing business as Ruccio Shoppes LLC. The sales price was not disclosed. Ruccio Pavilion is home to tenants including Mr. Brews Taphouse, Commonwealth Dentistry, Aqua-Tots Swim School, Thomas Sewing Center and Cuts & Paste Craft Studio. The property is shadow-anchored …

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Publix
Investment salesNewsSouth Carolina

IPA Arranges $18.2 Million Sale of Publix-Anchored Market at Standing Springs in Upstate South Carolina

by Julia Sanders

Simpsonville, S.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $18.2 million sale of Market at Standing Springs, a 63,883-square-foot, Publix-anchored shopping center in Simpsonville. Zach Taylor of IPA’s Taylor-McMinn Retail Group represented the seller, Carolina Holdings, and the buyer, C.F. Smith Property Group. The buyer is a family office completing a 1031 exchange, according to Taylor. Completed in 2021, Market at Standing Springs is located at the intersection of West Georgia and East Standing Springs roads near Interstate 385. The tenant roster includes …

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3131 M Street
Investment salesNewsWashington DC

SRS Brokers Sale of Levain Bakery Property in Washington, D.C. for $8.3 Million

by Julia Sanders

Washington, D.C. — SRS Real Estate Partners’ National Net Lease Group has brokered the $8.3 million sale of a single-tenant, 3,250-square-foot property leased to Levain Bakery at 3131 M Street NW in Washington, D.C. This is the first out of New York City expansion for Levain Bakery. The property was sold for just over $2,538 per square foot. Rick Fernandez and Andrew Fallon of SRS National Net Lease Group represented the seller and buyer, both being a local real estate investor.

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