Dayton, Ohio — NorthMarq Capital has arranged a $4.4 million loan for the acquisition of Northwest Plaza in Dayton. The 220,000-square-foot retail property is located at 3295 W. Siebenthaler Ave. Citi Trends is one of the tenants. Noah Juran of NorthMarq arranged the 10-year, fixed-rate loan, which features a 25-year amortization schedule. A regional bank provided the loan.
Miami — Miami Worldcenter Associates has broken ground on a 50,000-square-foot retail project and a 922-space parking garage within its namesake development, the $4 billion Miami Worldcenter, which is located in the city’s downtown area. The street-level retail space and new parking structure will front NE 7th Street and will ultimately be part of Miami Worldcenter’s 300,000 square feet of retail, restaurant and entertainment space. A portion of the parking garage’s rooftop will feature a rooftop amenity deck, which will serve the residents of Luma, a 43-story multifamily tower next …
Duluth and Fayetteville, Ga. — Grandbridge Real Estate Capital has provided a pair of acquisition loans totaling approximately $20 million for two retail centers in metro Atlanta. In the first deal, the company provided a $9.8 million loan for Reynolds Crossing, a 148,809-square-foot center located in the northeastern Atlanta suburb of Duluth. That loan carried a seven-year term, fixed interest rate and a 25-year amortization schedule. In the second transaction, Grandbridge closed a $10.2 million loan for Togwotee Village, a 109,680-square-foot center in Fayetteville, located 22 miles south of Atlanta. …
Houston — BCTS Partners LLC has sold Copper Lakes Shopping Center, a commercial property in west Houston that consists of 16,080 square feet of retail space and 7,000 square feet of office space. Copper Lakes was 91 percent leased at the time of sale to tenants such as Fitness 19, Snowflake Donuts, Homebase Pizza and Hollywood Fashion Nails. Austen Baldridge and Brad Elmore of Houston-based NewQuest Properties represented BCTS Partners, which developed the property in 2007, in the sale. The buyer was Parkway Brothers Investment Inc.
Royse City, Texas — Marcus & Millichap has negotiated the sale of a 5,992-square-foot strip retail center in Royse City, located 45 miles northeast of Dallas. The property was built in 2017 and is leased to Papa John’s, Royse City Urgent Care and Donut Land. Vincent Knipp and Anthony Pucciarello of Marcus & Millichap represented the seller in the transaction. Bill Jordan, also with Marcus & Millichap, represented the buyer, a private investor.
Joliet, Ill. — Quantum Real Estate Advisors Inc. has arranged the sale of a two-tenant retail building located in the Chicago suburb of Joliet for $2.7 million. Located at 2900 Colorado Ave., the property is fully leased to Dollar Tree and Osaka Hibachi Grill & Sushi. Chad Firsel of Quantum arranged the transaction. A New York City-based private real estate investor purchased the asset from a Chicago-based acquisition and development company.
Paramus, N.J. — The Goldstein Group has negotiated the sale of a 17,661-square-foot retail property in Paramus, located directly across the Hudson River from The Bronx borough of New York City. Outdoor furniture store Harrow’s most recently occupied the space. Lew Finkelstein and C.J. Huter of The Goldstein Group represented the seller, 685 LLC, in the transaction. The buyer was a subsidiary of J&M Furniture.
Pleasant Grove, Utah — Evergreen Devco has completed the disposition of a newly developed retail center, located at 855 W. State St. in Pleasant Grove, Utah. Pinot Pasadena Land Co. acquired the property for $3.1 million. The 5,500-square-foot, multi-tenant retail space was fully occupied at the time of the sale by tenants including Mo’ Bettahs Hawaiian Style restaurant Beans & Brews Coffee House and Dough Co., which is set to open this spring. Evergreen purchased the one-acre site in June 2018 and completed the retail center in November of that …
San Antonio — A partnership between CSW Development and USAA Real Estate will hold a groundbreaking ceremony for La Cantera Heights, a new retail center in northwest San Antonio, on Wednesday, May 1. Construction of the first phase will begin immediately after the event. The current tenant roster — which will include restaurant, fitness and boutique retailers —will be announced at the ceremony. Alamo Architects is designing the project; Metropolitan Construction is serving as the general contractor; and JLL is handling leasing.
Muskegon, Mich. — RD Management LLC has unveiled plans to redevelop Muskegon Shopping Center located at 3530 Henry St. in western Michigan. The project will include removal of the 134,874-square-foot building formerly occupied by Kmart, renovation of the 32,338 square feet of adjacent retail space and the construction of five residential buildings totaling 126 units. Demolition of the Kmart building will begin in late spring. In addition, Mercy Health has agreed to purchase a 6.2-acre parcel of the shopping center in order to construct a new 40,900-square-foot medical office building …
