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Creek-Bridge-Village-Salinas-California
CaliforniaFinanceNews

Gantry Arranges $15.4 Million in Financing for Two Retail Properties in Monterey Bay Region

by Abby Cox

Salinas and Capitola, Calif. — Gantry has arranged $15.4 million in permanent loans to refinance two separately owned neighborhood retail properties located at different ends of the Monterey Bay region. Tom Dao and Jake Davis of Gantry represented the borrowers, both private real estate investors. The first property, Creek Bridge Village in Salinas, features 35,000 square feet of retail space and 17 apartments spread across five buildings. The 10-year, fixed-rate nonrecourse loan was secured from one of Gantry’s correspondent life company lenders and features a 30-year amortization. Gantry will service …

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Miami-Gardens-Center
FloridaInvestment salesNews

Miami Gardens Center in Florida Sells for $11.1 Million

by Abby Cox

Miami Gardens, Fla. — Golden Horizon Terryville Corp. has acquired Miami Gardens Center, a 52,467-square-foot shopping center located in Miami Gardens, roughly 16 miles north of downtown Miami, for $11.1 million. Built in 2006 near Hard Rock Stadium, the two-building retail center was fully leased at the time of sale to tenants including Cano Health, CareerSource South Florida and Montessori School of Miami Gardens. The property also features a separately configured four-tenant outparcel that is occupied by Dunkin’/Baskin Robbins, Metro by T-Mobile, Di Angelo’s Pizza and a local smoke shop. Kirk …

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Douglasville-Crossroads
FinanceGeorgiaNews

MMCC Arranges $5 Million in Financing for 42,720-Square-Foot Retail Property in Metro Atlanta

by Abby Cox

Douglasville, Ga. — Marcus & Millichap Capital Corp. (MMCC) has arranged $5 million in financing for Douglasville Crossroads, a 42,720-square-foot retail property located in Douglasville, roughly 22 miles west of Atlanta. David Johnson of MMCC secured the seven-year, non-recourse loan through a national bank on behalf of a private client. Douglasville Crossroads was fully leased at the time of sale to tenants including Dollar Tree, Cato, It’s Fashion, H&R Block, a nail salon and furniture store, as well as several restaurants. Walmart and Sam’s Club shadow anchor the property.

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kings-court
Investment salesNewsTexas

Cravey Real Estate Negotiates Sale of 8,750-Square-Foot Retail Center in Corpus Christi, Texas

by Abby Cox

Corpus Christi, Texas — Cravey Real Estate Services has negotiated the sale of King’s Court, an 8,750-square-foot neighborhood center located at 7626 Staples St. in Corpus Christi. Constructed in 2005, King’s Court is home to a mix of tenants including Peerless Cleaners, Cali Nails, King’s Barber and Baare BBQ, which recently completed a restaurant buildout and signed a new lease. Patricia Chavez of Keller Williams Heritage represented the buyer, Vista Bella Investments, LP. Lynann Pinkham of Cravey Real Estate Services represented the seller, who has historically overseen leasing for the property …

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ColoradoDevelopmentMixed-useNews

New 128,000-Square-Foot Target Store to Open at Firestone City Centre in Colorado

by Abby Cox

Firestone, Colo. — The Staenberg Group (TSG) has announced that Target will open a new 128,000-square-foot store that will anchor Firestone City Centre, a 140-acre mixed-use development located in Firestone, roughly 30 miles north of Denver. The new store is scheduled to debut this month. Firestone City Centre features more than 600,000 square feet of retail and restaurant space that is home to a mix of national retailers and restaurants including The Home Depot, American Furniture Warehouse, Anytime Fitness, Chick-fil-A, Panda Express, Firestone Auto and Chuck & Don’s, among others. …

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Diamond Plaza
IllinoisInvestment salesNews

Marcus & Millichap Negotiates $2.6 Million Sale of Three-Tenant Retail Center in McHenry, Illinois

by Abby Cox

McHenry, Ill. — Marcus & Millichap has negotiated the $2.6 million sale of Diamond Plaza, a 7,035-square-foot retail center located in McHenry, roughly 50 miles northwest of Chicago. Built in 2009, the three-tenant property was fully occupied by Verizon, Biggby Coffee and Lacey’s Place at the time of sale. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a family trust, and procured the buyer, a private investment group. 

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FinanceGrocery-anchoredNew YorkNews

Northmarq Arranges $13.5 Million in Financing for Strathmore Commons Mall in Middle Island, New York

by Abby Cox

Middle Island, N.Y. — Northmarq has arranged $13.5 million in financing for Strathmore Commons Mall, a 146,381-square-foot, grocery-anchored retail center located in Middle Island, roughly 65 miles east of Manhattan. Originally built in 1991, Strathmore Commons Mall features a mix of tenants including McDonald’s, Giunta’s Meat Farms, NYU Langone Health, Gold’s Gym, Subway, Dollar Tree and Carvel. Robert Delitsky and Dylan Hamer of Northmarq arranged the financing through WoodmenLife on behalf of the borrower and repeat client.

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1310 Commons Drive
IllinoisInvestment salesNews

Quantum Real Estate Brokers Sale of 88,000-Square-Foot Shopping Center in Metro Chicago

by Abby Cox

Geneva, Ill. — Quantum Real Estate has brokered the sale of 1310 Commons Drive, an 88,000-square-foot retail center located in Geneva, about 40 miles west of Chicago. The property consists of four multi-tenant buildings, as well as two single-tenant buildings, and features a mix of tenants including First Watch, California Pizza Kitchen, Sleep Number, Five Guys and Jamba Juice, among others. The property was roughly 98 percent leased at the time of sale. The buyer was a global real estate investment manager, and the seller was an investment fund based …

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Clybourn Center
IllinoisInvestment salesNews

Curbline Properties Acquires 33,140-Square-Foot Retail Center in Chicago

by Abby Cox

Chicago — Curbline Properties has acquired Clybourn Center, a 33,140-square-foot unanchored retail strip center located in the Lincoln Park neighborhood of Chicago. Clybourn Center was 91.2 percent leased at the time of sale to tenants including Physicians’ Immediate Care, Premier Allergy and Metro Infusion. The property also features 86 parking spaces. Michael Nieder and Brian Page of JLL represented the seller in the transaction. Steve Schwartz, also of JLL, handles leasing efforts at the property.

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Investment salesNewsTexas

Partners Capital Purchases 41,041-Square-Foot Neighborhood Center in McAllen, Texas

by Abby Cox

McAllen, Texas — Partners Capital, the investment platform of Partners Real Estate, has acquired Colonnade of McAllen, a 41,041-square-foot neighborhood center located in the Rio Grande Valley city of McAllen. Built in 2004, Colonnade of McAllen was fully leased at the time of sale. Tenants include Maripoza Boutique, PureLine Nutrition, Queen’s Nails and Sari-Sari Filipino Convenience Store, according to LoopNet Inc. This transaction marks Partners Capital’s second acquisition through its Opportunity Fund VI and the first retail property acquired through the vehicle.

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