Pacific Coast Capital Partners, LLC, in a joint venture with Stoltz Real Estate Fund II, LP will acquire San Carlos Village, a 127,634-square-foot neighborhood retail center in the La Mesa/San Carlos submarket of San Diego, Calif. The property is 100 percent occupied and features tenant such as Walgreens, LA Fitness, Starbucks and Washington Mutual.
Cherokee Investment Partners, Sterling Centrecorp Inc. and North American Developments formed a joint venture with Kimco Realty Corp. to acquire and develop a 1.2 million-square-foot shopping center in Boisbriand, Quebec. Called the Faubourg Boisbriand Centre, the property will be developed on approximately 86 acres of land in a suburb of Montreal.
Sperry Van Ness completed the sale of The Pavilions, a 127,621-square-foot neighborhood shopping center in Mesa, Ariz. to NCH Corporation for $20 million. The property is 78 percent occupied and features such tenants as TCBY, Blockbuster Video, Serrano's Mexican Restaurant and Accent Home Furnishings. Matt Colo, Ari Spiro, Jeff Chalfin and Mike Day, of Sperry Van Ness' Phoenix office, represented both the seller and the buyer.
Woodbridge, N.J.-based Kislak Co.Inc. completed the sale of 200,000 square feet of retail space throughout the greater Syracuse area in New York to Berkley Properties, LLC for $16 million. Theinvolved 14 separate properties, including strip malls and single-tenant buildings.
Minneapolis-based Ryan Companies US, Inc. opened a Southeast division. Located in Tampa, Fla., Ryan's Southeast office will provide full-service-build, development and property management services throughout the region.
Finard & Co. has been awarded the property management and marketing contract for Wayside Commons, a 196,000-square-foot open-air lifestyle retail center in Burlington, Mass. Tenants at the property include L.L. Bean, Border, The Capital Grille and Arhaus Furniture. Finard's Carol Kuosman will be in charge of the property management team.
West Coast-based Charles Dunn Co. has assumed management of a portfolio of Albertson's locations throughout Los Angeles totaling 327,000-square-feet. Heslin Holdings, Inc. recently purchased the stores, including one in Eagle Rock, Calif., one in Fullerton, Calif., one in Moreno Valley, Calif., one in Pico Rivera, Calif. and one in Stanton, Calif. Gail Robinson, of Charles Dunn's Newport Beach office, will be in charge of the management assignment.
New York-based Eastern Consolidated arranged the sale of 131-137 Spring Street building in New York City to a partnership of Olmstead Property, Willet Companies and Radiant Partners, for $46 million. The adjacent six-story buildings total 58,100 square feet and are occupied by high-end retailers Burberry and Diesel.
Feldman Mall Properties, Inc. completed a joint venture agreement with Kimco Realty Corp.in connection with the Foothills Mall in Tucson, Ariz. Under the terms of the agreement, a subsidiary of FMP conveyed the property to the venture for $104 million plus closing costs. Kimco's initial contribution to the venture was $14.8 million.
An affiliate of Hartford, Conn.-based Hutensky Group, LLC purchased the Lutherville Station Shopping Center in Lutherville, Md. for $30.75 million. The 271,000-square-foot property features tenants such as Borders, Old Navy, Loehmann's and Circuit City.
Irvine, Calif.-based REZA Investment Group Inc. completed two deals totaling $33.6 million. The transactions included the sale of the Santee Town Center in San Diego, Calif. on behalf of Kimco Santee 705, LLC for $23.4 million and the sale of the Taft Hills Plaza, a 69,381-square-foot neighborhood shopping center in Taft Hills, Calif. to Bear Valley Plaza, LLC for $10.2 million.
Capmark Finance Inc. provided $64.3 million in fixed-rate re-financing for a portfolio of retail properties in Columbia, Md. The properties include 86,456-square-foot Dorsey's Search Village Center, 486,000-square-foot Columbia Crossing and 100,521-square-foot Hickory Ridge.
Atlanta-based Hendon Properties, LLC entered into a joint venture with Toronto-based Dundee Realty Corp. to revitalize the Greenbriar Mall in Atlanta, Ga. Under the terms of the agreement, Hendon Properties will serve as managing partner and will be responsible for the day-to-day operation and improvement of the mall.
CBRE | Melody arranged a $17.5 million loan for the 352,529-square-foot Fair Oaks Mall in Columbus, Ind. The property is 94 percent occupied and includes tenants such as JCPenney, Kmart, Bath & Body Works and Walden Books. The financing featured a 10-year term and a 6.63 percent fixed rate. Baxter Fain and Eric Tupler, of CBRE | Melody's Denver office, negotiated the transaction.
Denver-based AmCap, Inc. and Simsbury, Conn.-based Hart Realty Advisers, Inc. purchased the retail portion of Clayton Lane in the Cherry Creek North area of Denver, Colo. for $97 million. The site encompasses 182,802-square-feet of retail space.
occupied by such tenants as Crate&Barrel.