Belmont, N.H. — McLaughlin Investments has negotiated the $7.8 million sale of Belknap Mall, a 235,000-square-foot shopping center in Belmont, located 34 miles from Manchester. Grocer Shaw’s anchors the property with a 38,500-square-foot store. Other tenants include Job Lots, Planet Fitness, Clear Choice Medical Clinic, Jo-Ann Fabric, Verizon Super Cuts and Dunkin’. John McLaughlin of McLaughlin Investments represented the buyer, Vernet Properties LLC, in the transaction. The seller, Belknap Realty, was represented in-house.
Midland, Texas — SRS Real Estate Partners’ National Net Lease Group has brokered the $5.9 million sale of a two-tenant retail property located at 3200 N Loop 250 W in Midland. Britt Raymond and Kyle Fant of SRS represented the seller, a Texas-based developer. Jake Bordelon of Marcus & Millichap represented the buyer, a California-based private investor. The 94,579-square-foot property is fully occupied by Kohl’s and Crunch Fitness.
Forsyth, Ill. — Marcus & Millichap has brokered the $4.8 million sale of Forsyth Center in Forsyth, about 45 miles east of Springfield. The 30,087-square-foot retail center is located at 1460 Koester Road. The property is home to PetSmart and Dollar Tree, both of which have been tenants since the center was constructed in 2006. Tammy Saia and Tami Andrew of Marcus & Millichap represented the seller, a local developer. Buyer information was not provided.
Cary, N.C. — Lotus Cinemas, an international and independent film theater, is set to open on March 25 at Parkside Town Commons in Cary, about 18 miles from Durham. The theater, which is the brainchild of Paragon Theaters’ co-CEOs Michael Whalen and Michael Wilson, will be exclusively dedicated to niche films by up-and-coming and award-winning foreign and domestic cinematographers. Lotus Cinemas will include four newly renovated auditoriums with reclining seats, a concession area and a new dedicated entrance. Each auditorium will feature zero-gravity recliners, reserved seating, wall-to-wall screens and Dolby …
Edina, Minn. — JLL Capital Markets has arranged the sale of Galleria Edina, a 398,585-square-foot enclosed regional shopping center in Edina, about 10 miles from Minneapolis. Danny Finkle, Barry Brown, Dave Monahan, Amy Sands, Cameron Pittman, Matt Hazelton and Cory Villaume of JLL represented the undisclosed seller in the disposition of the property to 70th Street Properties LLC. Park State Bank provided financing for the acquisition. Located at 3510 West 69th St., Galleria Edina was 99 percent leased at the time of sale to tenants including Louis Vuitton, Tiffany & …
Franklin Township, N.J. — Axiom Capital Corp. has arranged a $25 million loan for the refinancing of a 113,204-square-foot retail center in Franklin Township, about 40 miles south of Manhattan. Grocer ShopRite anchors the three-building property, with Wells Fargo occupying the other standalone structure. The nonrecourse loan carried a 10-year term and fixed interest rate. The borrower was not disclosed.
Kansas City, Kan. — In a sale-leaseback transaction, MAG Capital Partners LLC has acquired a 30,000-square-foot retail building occupied by Frontier Justice in Kansas City. Frontier Justice, a retail destination founded in 2015 by Mike and Bren Brown, offers firing ranges, a café and an exclusive fashion boutique that sells a variety of men’s and women’s apparel, jewelry and home décor. Judd Dunning of DWG Capital Group arranged debt financing for MAG Capital Partners, which is led by Dax Mitchell and Andrew Gi.
Miami — CBRE has arranged the sale of Pointe at Kendall Town Center, a retail center located on Kendall Drive and SW 162nd Ave. in Miami. Built in 2019, the property was fully leased at the time of sale and includes five outparcels ground leased to tenants including Texas Roadhouse, Panera Bread, Olive Garden, Sanitas Medical Center and Walk On’s. Dennis Carson and Casey Rosen of CBRE represented the undisclosed seller in the transaction.
Houston — Wu Properties has acquired Willowchase Center, a 231,126-square-foot shopping center that sits on a 19.5-acre site in northwest Houston. The property was 97 percent leased at the time of sale, with Hispanic grocer Fiesta serving as its anchor. Other tenants include dd’s DISCOUNTS, Jo-Ann Fabrics, Goodwill, Northern Tool + Equipment, Mattress Firm, Family Dollar, America’s Best, Jamboree Dentistry and Metro PCS. Ryan West, Chris Gerard, John Indelli, Katherine Miller, Bailey Black and Grant Rexrode of JLL represented the seller, Fidelis Realty Partners, in the transaction. Wu Properties has …
Midlothian, Va. — Cushman & Wakefield has arranged the sale of Charter Colony, a 71,741-square-foot grocery-anchored shopping center in Midlothian, about 14 miles from Richmond. John Owendoff of Cushman & Wakefield, in conjunction with Eric Robison and Catharine Spangler of Cushman & Wakefield | Thalhimer, represented the seller in the transaction. Michael Zelin and Marshall Scallan of Cushman & Wakefield will secure post-acquisition financing on behalf of the buyer. Built in 2015, Charter Colony was 98 percent leased at the time of sale to tenants including anchor Publix.