New York City — KFIR Capital, a New York-based firm, has arranged the $20.5 million sale of a multifamily property in Brooklyn. The 43,000-square-foot building at 210 Clarkson Ave. was vacant at the time of sale, formerly housed a Dollar Tree store and a private school. The buyer plans to develop part of the building into a residential property. Jake Blatter of KFIR represented the seller, New York-based 210 Clarkson Corp., in the transaction. Blatter also represented the buyer, a local investor.
Poughkeepsie, N.Y. — Cronheim Mortgage, a New Jersey-based firm, has arranged a $13.5 million construction loan for the redevelopment of Poughkeepsie Plaza in Upstate New York. Originally constructed in 1958, the 170,966-square-foot shopping center includes three pad sites for a total building area of 175,743 square feet. Current tenants include Home Depot, BJ’s, Hobby Lobby and Best Buy. The loan carries a seven-year term of interest-only payments followed by a 25-year amortization period.
Newbury Park, Calif. — Beta, a California-based commercial real estate agency, has negotiated the sale of a retail building located at 3057 Grande Vista Drive in Newbury Park. AHS Property Inc. acquired the asset from Academy Road LLC. Although the price was not disclosed, the building was listed for $15 million. LA Fitness occupies the 37,346-square-foot building, which is located within the 575,644-square-foot Village at Newbury Park shopping center, which was developed this year. Additional tenants at the shopping center include Target, The Home Depot, Staples, Lowe’s Home Improvement Warehouse …
Federal Way, Wash. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a newly constructed retail building located at 164 SW Campus Drive in Federal Way. A Kirkland, Washington-based buyer acquired the property from an affiliate of Henderson, Nevada-based Covenant Real Estate Group for $3.7 million. Situated on 1.2 acres, the 4,980-square-foot freestanding building is located at the signalized entrance to the WinCo Foods-anchored shopping center. The two-tenant building is occupied by a 2,104-square-foot Starbucks Coffee and a 2,876-square-foot Pacific Dental Services-supported dental office. Jeff Lefko and …
Monrovia, Calif. — A partnership between Pasadena, California-based Telos Capital and Warner Pacific Properties has completed the disposition of Monrovia Landing, a grocery-anchored retail asset located in Monrovia. A Los Angeles-based buyer acquired the property for $30.5 million as part of a 1031 exchange from a prior sale. Situated on more than six acres at 723-737 E. Huntington Drive, the center features 96,885 square feet of retail space. At the time of sale, the property was 100 percent leased to a variety of national-credit tenants, including ALDI Food Market, TJ …
Pacifica, Calif. — Bethesda, Maryland-based First Washington Realty (FWR) has purchased Fairmont Shopping Center, a community shopping center located in Pacifica. Terms of the acquisition, including seller’s name and price, were not released. Situated at the intersection of Hickey and Skyline boulevards, Fairmont Shopping Center features 102,982 square feet of retail space, with Safeway and Rite Aid as anchor tenants. FWR currently owns 103 shopping centers with a value of more than $5.5 billion located in 22 states and the District of Columbia. The company’s centers contain approximately 13.8 million …
Madiera Beach, Fla. — CBRE has brokered the $17.2 million sale of The Shops at John’s Pass Village, a 40,771-square-foot shopping center in Madiera Beach. Mark Shellabarger of CBRE represented the undisclosed seller in an online auction that attracted 29 bids. Ben Mallah, an individual buyer, won the bidding process for the waterfront shopping village. The property consists of retail shops, restaurants, a marina and a 325-space parking garage. The Shops at John’s Pass is located about 25 miles west of downtown Tampa.
Dayton, Ohio — NorthMarq has arranged a $7 million loan for the acquisition of Southland 75 Shopping Center in Dayton. The 117,410-square-foot retail center is located at 8265-8361 Springboro Pike. Major tenants include Dollar Tree, Hobby Lobby and Get Air Trampoline Park. Noah Juran of NorthMarq arranged the 10-year loan, which features a 25-year amortization schedule. A regional bank provided the loan for the undisclosed borrower.
Lincolnwood, Ill. — The RoomPlace, an Illinois-based furniture store, has opened at Lincolnwood Town Center in northern Illinois. The retailer replaces a former Carson’s store. The 84,000-square-foot space incorporates three brands — The RoomPlace, The MattressPlace and RP Outlet. The location marks The RoomPlace’s largest store to date. Washington Prime Group Inc. owns Lincolnwood Town Center. Other retailers at the shopping mall include Kohl’s, Old Navy, Bath & Body Works, Foot Locker, Express and Champs Sports.
Chesapeake, Va. — American Commercial Realty Corp. (ACR) has purchased Crossroads at Chesapeake Square, a 198,741-square-foot shopping center in Chesapeake. Ross Dress for Less, Aldi, Best Buy and Old Navy anchor the center. The Hampton Roads property was built in 1991 with Walmart as its anchor. Walmart relocated in 2005, making room for a new tenant mix. This is ACR’s first purchase in Virginia. Virginia Beach-based Divaris Real Estate will manage the leasing for the center.