Walker & Dunlop Inc., through its subsidiary Walker & Dunlop LLC, arranged a $90 million loan for Hunt Valley Towne Centre, a 766,256-sq.-ft. class-A shopping center in Hunt Valley, Md. American International Group Inc. provided the loan, which was structured with an eight-year interest-only term.
Wegman’s Food Market anchors the property. Other tenants include Chipotle, GameStop, Chico’s, California Pizza Kitchen, Caribou Coffee and M&T Bank.
J. Tyler Blue and Paul Wallace, of Walker & Dunlop, negotiated this transaction.
Inland Diversified Real Estate Buys New Jersey Shopping Center in $75.2M Transaction
Inland Real Estate Acquisitions Inc. bought Bayonne Crossing, a 356,647-sq.-ft. shopping center in Bayonne, N.J., on behalf of Inland Diversified Real Estate Trust Inc. for approximately $75.2 million.
Bayonne Crossing was completed in 2012. Wal-Mart Urban Store and Lowe’s Home Improvement anchor the property through ground lease agreements. Other tenants include Michaels and Dollar Zone. Joe Cosenza, president of Inland Real Estate Acquisitions, represented the buyer in the transaction.
Katz Buys Virginia Asset for $33.86M
Katz Properties acquired Westgate Shopping Center, a 172,000-sq.-ft. grocery-anchored shopping center in Manassas, Va., for $33.86 million.
Westgate Shopping Center was completed in 1964 and is 97 percent occupied. Tenants include Giant supermarket, Barnes & Noble, CVS, Total Wine and Panera Bread.
R. William Kent and Gary S. Lawrence, of CBRE, negotiated this transaction. Webster Bank provided the financing.
Other Notable Deals
BSV Premier Brookhill LLC bought Brookhill Azalea Shopping Center, a 162,000-sq.-ft. neighborhood shopping center in Richmond, Va., from Mighty Oak, a subsidiary of GE Capital, for $8.95 million. At the time of the sale the center was 70 percent leased. Tenants at the property include Food Lion, CitiTrends and Family Dollar. Alexander Divaris, Jason Oliver, and John Wingfield, of Divaris Real Estate, represented the seller in the transaction.
Linear Retail Properties acquired five retail condominiums at 346-354 Congress St. in Boston from an affiliate of Berkeley Investments for $4.8 million. The condominiums total 15,711 sq. ft. of retail space and are leased to Barrington Coffee Roasting Company and Barbara Lynch Gruppo. Jonathan Dutch, of Boston Urban Partners, negotiated the transaction. Linear Retail also acquired a 2,865-sq.-ft. retail condo on Newbury St. in Boston for $2.25 million. A UPS Store currently occupies part of the space.
CIM Group acquired Block 37, a five-story, 275,000-sq.-ft. retail center in Chicago’s Central Loop. Tenants at the center include Anthropologie, Sephora, Disney, Eileen Fisher, Zara, Magnolia Bakery and Puma. The center is approximately 30 percent leased.
Marcus & Millichap negotiated the sale of the Shops at Jasper, a 61,549-sq.-ft. neighborhood shopping center in Jasper, Ga. The Shops at Jasper was completed in 2006 and is currently 93 percent leased. Tenants at the center include Save-A-Lot and Beall’s Department Store. Tim Giambrone, of Marcus & Millichap, represented the seller in the transaction.
Quantum Capital Partners arranged a loan for a 33,000-sq.-ft. retail center on Grand Avenue in downtown Los Angeles. The loan featured 70 percent LTV. Michael Yim, of Quantum Capital, negotiated this transaction.
B & L Investments bought the Walk at Highwoods Preserve II, a 28,452-sq.-ft. retail center in Tampa, Fla., from an affiliate of TIAA-CREF. Mark Shellabarger, of CBRE, represented the seller in the transaction. The Walk at Highwoods Preserve II was completed in 2003. Tenants at the center include FedEx Office, Boston Market, Moe’s Southwest Grill and Jenny Craig.