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Business Deals
May
1, 2008 12:00pm
DZD Holdings closed a $20 million construction loan for Palmetto
Gardens Plaza, a 108,000-sq.-ft. shopping center in Miami Gardens,
Fla.
Centrum
Properties, Inc. and Angelo Gordon & Co. appointed Jones Lang
LaSalle as managing and leasing agent for Crestwood Court, a 1.1-million-sq.-ft.
regional mall near St. Louis, Mo. Tony Stephens and Tracey Citron
will handle this assignment on behalf of Jones Lang LaSalle.
Levin Management Corp. has been appointed as the leasing and managing
agent for Neptune Shopping Center, a 215,424-sq.-ft. retail property
in Neptune, N.J.
Target
Corp. purchased a 177,500-sq.-ft. pad site for a SuperTarget at
Mountain Vista Marketplace in Mesa, Ariz. Ed Beeh, Dan Nesson and
Chuck Gibson, of Staubach Retail, represented the seller in the
transaction. The SuperTarget is scheduled to open in March 2009.
Sperry Van Ness has joined forced with Amarillo, Texas-based McCartt
& Associates, Commercial Real Estate Services. The firms will
now operate under the Sperry Van Ness/McCartt & Associates banner.
Marcus
& Millichap Real Estate Investment Services negotiated the sale
of Denton Square, a 125,225-sq.-ft. shopping center in Denton, Texas,
from Commercial Property Services LLC to 717 Stemmons Partners L.P.
Tim Speck, Alvin Mansour and Philip Sambazis, of Marcus & Millichap,
represented both parties in the transaction.
RCG
Ventures acquired East Side Plaza, an 85,196-sq.-ft. shopping center
in Atlanta from Developers Diversified Realty.
Midwest
Real Estate Equities, Inc. sold a 66,000-sq.-ft. retail condominium
at the Landings of Lombard shopping center in Lombard, Ill., to
Restaurant Depot. Horizon Realty Services, Inc. represented Midwest
Real Estate in the transaction. Spartan Real Estate and Development
represented Restaurant Depot.
Marcus
& Millichap Real Estate Investment Services has been appointed
as the exclusive listing agent for Keller Crossing, a 124,000-sq.-ft.
shopping center in Keller, Texas. Alvin Mansour will handle this
assignment on behalf of Marcus & Millichap.
TRF
Pacific and Washington Capital purchased the Woodgate Center, a
46,943-square-foot retail center in Woodinville, Wash., for $14
million. Paul Sleeth, of Colliers International, represented both
parties in the transaction.
Baum
Realty Group negotiated the sale of Norwood Square, a 129,000-sq.-ft.
shopping center in Park Forest, Ill., to Nassimi Realty Corp. Jason
Berngard, of Baum Realty Group, and Chad M. Fisel, of NAI Hiffman,
represented the seller in the transaction.
Marcus
& Millichap Real Estate Investment Services has been appointed
as the exclusive listing agent for the Shops at Dowlen, a 110,886-sq.-ft.
shopping center in Beaumont, Texas. Lori Schneider will handle this
assignment on behalf of Marcus & Millichap.
Gottesman
Real Estate Partners acquired Old Mill Plaza, a 52,000-sq.-ft. retail/office
center in Sea Girt, N.J. The firm appointed CB Richard Ellis as
the managing agent for the property.
Faris Lee Investments negotiated the sale of 20,772 sq. ft. of retail
space at Centre Pointe Marketplace in Santa Clarita, Calif. from
Marketplace Properties, LLC to Kaylor Point, LLC for $15 million.
The sale is part of a $45 million break-up and pre-sale strategy.
Richard Walter and Patrick Kent, of Faris Lee Investments, represented
the seller in the transaction. Dennis Vaccaro represented the buyer.
The
Shopping Center Group negotiated the sale of Castleberry Southard
Crossing, an 80,014-sq.-ft. grocery-anchored shopping center in
Cumming, Ga., for $16 million. Neal Pringle, of the Shopping Center
Group, represented the seller in the transaction.
Edgemark
Commercial Real Estate Services, LLC negotiated the sale of Spring
Hill Retail Center, an 11,095-sq.-ft. retail property in Carpentersville,
Ill., to Triple C Properties LLC. Jeffrey J. Kowal, of Edgemark
Commercial, represented the buyer in the transaction. Matt DeDobbelaere,
of May Center Advisors, represented the seller.
Charles
Dunn Co. negotiated the fee simple purchase of a 5,402-sq.-ft. Chili's
restaurant in Beavercreek, Ohio for approximately $3 million. Susan
Harris, of Charles Dunn, negotiated this transaction on behalf of
the buyer. The seller represented itself.
Marcus
& Millichap Real Estate Investment Services has been appointed
as the exclusive listing agent for the Village at Eldorado, a 51,785-sq.-ft.
shopping center in Little Elm, Texas. Jason Vitorino and Thomas
Tucker will handle this assignment on behalf of Marcus & Millichap.
Eastern
Consolidated, Inc. negotiated the sale of Unilake Shopping Plaza,
a 14,780-sq.-ft. shopping center in Queens, N.Y., from Bremen House,
Inc. to Vickers Realty for $4.7 million. Alan P. Miller and Benjamin
A. Tapper, of Eastern Consolidated, represented the seller in the
transaction. Robert F. Ortiz represented the buyer.
Savannah
Meridian Acquisition Group, LLC appointed Jones Lang LaSalle as
the leasing agent for the retail space at the Exchange at Savannah
Park in Seminole County, Fla. The retail space contains 43,211 sq.
ft. Mike Longmore, Chris Rehmet, Sig Arnesen, Brigette Johnson and
Cindy Stasie will handle this assignment on behalf of Jones Lang
LaSalle.
Sperry
Van Ness negotiated the sale of the Corner Shopping Center, a 26,044-sq.-ft.
retail center in Scottsdale, Ariz., from the Corner Shopping Center,
LLC to Ethan Christopher, LLC for $4.35 million. Ari Spiro and Jeff
Chalfin, of Sperry Van Ness, represented the buyer in the transaction.
George Coxon, of CB Richard Ellis, represented the seller.
Charles
Dunn Co. negotiated the sale of Hidden Valley Village, a 32,296-sq.-ft.
shopping center in Norco, Calif., from Sena Properties, LLC to Sero
Properties, LP for $8 million. Tanel Harunzade, Brian Jensen and
Kevin Byer, of Charles Dunn, represented both parties in the transaction.
Eastern
Consolidated has been appointed as the marketing agent for the long-term
leasehold interest in 4,350 sq. ft. of retail space on Broome Street
in New York City. Anna Ronquillo will handle this assignment on
behalf of Eastern Consolidated.
Edgemark
Commercial Real Estate Services, LLC negotiated the sale of a 2.94-acre
land parcel in Spring Grove, Ill. to Icon Real Estate. The company
plans to build the Shops at Spring Cove, an 18,498-sq.-ft. retail
center on the site. Tyson Fraser, of Edgemark Commercial, represented
the buyer in the transaction. Bob Zacharias, of Maxim Realty &
Development, represented the seller.
Marcus
& Millichap Real Estate Investment Services has been appointed
as the exclusive listing agent for Riceland Pavilion I, a 75,660-sq.-ft.
shopping center in Baytown, Texas. Jerry Goldstein will handle this
assignment on behalf of Marcus & Millichap.
Transwestern
Investment Co. and Southside Investment Partners, LLC acquired a
24,000-sq.-ft. Bed Bath & Beyond building in Vienna, Va. Southside
Investment Partners will manage the property.
Holliday
Fenoglio Fowler L.P. arranged a $74 million loan for Trolley Square,
a lifestyle center in Salt Lake City. Lloyd Minten negotiated the
transaction.
Holliday
Fenoglio Fowler, L.P. arranged a $5.65 million refinancing for an
11,349-sq.-ft. retail/office building in Washington, D.C. The loan
featured a five-year term. Kevin Smith negotiated this transaction.
Henry
S. Miller Co. sold the 55,359-sq.-ft. Tom Thumb location at the
Towne North Shopping Center in Irving, Texas, to EIGFW Irving, LLC.
Greg Miller, of Henry S. Miller, served as the in-house broker in
the transaction.
KeyPoint
Partners, LLC has been appointed as the property management agent
for the Shoppes at Long Pond, an 18,000-sq.-ft. retail center in
Plymouth, Mass.
The
J Street Cos., a Washington, D.C.-based commercial and residential
real estate firm through affiliates Randall Hagner and J Street
Development, signed a merger agreement in principle with the Woodmark
Cos. Woodmark specializes in commercial property management, leasing
and investment sales. Woodmark currently manages a 4.3-million-sq.-ft.
portfolio.
Regency
Centers Corp. sold 11.75 acres of land at Suncoast Crossing Center
in Brooksville, Fla. to Target Corp. Target will build a 142,129-sq.-ft.
store on the site.
Glimcher
Realty Trust completed a $42.25 million mortgage loan financing
on Colonial Park Mall located in Harrisburg, Pa. The new loan has
a three-year maturity and a floating interest rate of LIBOR plus
1.65% per annum with no principal amortization. The loan was originated
by U.S. Bank National Association.
Urstadt
Biddle Properties Inc., acquired a 60% interest in a newly formed
limited partnership that purchased the 100,491-sq.-ft. Ferry Plaza
Shopping Center in Newark, N.J. The center is valued at $26.0 million
and has a $11.9 million first mortgage.
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