Wayzata, Minn. — NorthMarq Capital has arranged a $7.2 million loan for the acquisition of a building leased to Walgreens in Wayzata, 13 miles west of Minneapolis.
Surprise and Glendale, Ariz. — Calgary, Alberta-based Triumph Real Estate Investment Fund has acquired two shopping centers in metro Phoenix for $7 million.
Reisterstown, Md. — Robyn Properties has acquired Reisterstown Village Shopping Center, a 21,685-square-foot retail property located in Reisterstown, roughly 25 miles outside Baltimore.
Santa Monica, Calif. — The first day of the third annual Entertainment Experience Evolution conference kicked off with a question: “Who ever thought we would have to sit here and figure out a way to replace department stores, when we spent most of our careers trying to figure out how to chase them,” began Nick Egelanian, president of SiteWorks Retail Real Estate Services. “Now we can’t get rid of them quick enough.”
Philadelphia — Philadelphia-based PREIT has proactively replaced Sears at three of its malls in Pennsylvania, Michigan and South Carolina.
Austin, Texas — The Travis County Commissioners Court has approved Blakefield LLC’s plans to develop Thomas Ranch, a 2,200-acre master-planned community off Highway 71 and Paleface Ranch Road in Western Travis County near Austin.
Monticello, N.Y. — A joint venture between Heidenberg Properties Group, Strategic Real Estate Partners and Norse Realty Group has acquired Thompson Square Shopping Center in Monticello.
Upland, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $17.2 million sale of Upland Village, a 60,857-square-foot shopping center located in Upland.
Las Vegas — Agora Realty and Management has acquired a 100,856-square-foot, Smart & Final-anchored shopping center located in Las Vegas for $10.3 million.
Aurora, Ill. — Adelphia Properties has negotiated the sale of a multi-tenant retail building in Aurora for $5.2 million.