Faris Lee Investments negotiated the sale of three retail centers in Texas for $30 million in a 1031 exchange. The centers, totaling 150,000 sq. ft., include Best Buy and Shops in Houston, College Station Center in College Station and Washington Square in Stephenville.
Movie Gallery US, LLC/Hollywood Entertainment Corp. retained Keen Consultants to assist with the disposition of 16 fee-owned retail properties and 521 retail leasehold interests located throughout the country. The properties have a bid deadline of Nov. 12, 2007, and an auction date of Nov. 15, 2007.
National Retail Properties, Inc. will sell 4 million shares of its common stock in a follow-on public offering. Underwriters will also receive a 30-day option to purchase up to 600,000 additional shares of stock to cover over-allotments.
Inland Western Retail Real Estate Trust, Inc. entered into a three-year $225 million unsecured revolving line of credit, with a $75 million accordion feature, for a total borrowing capacity of $300 million.
Orbit Resources, Inc. chose Jones Lang LaSalle as a specialty leasing and managing agent for Cupertino Square, a 1.4-million-sq.-ft. urban retail center in Cupertino, Calif. Mike Rafferty and Mike Rohde will handle this assignment on behalf of Jones Lang LaSalle.
Interra Development Partners LLC acquired four land sites in Florida, California and Arizona for a total of $82 million. The firm plans to develop the assets into retail centers. The properties were acquired through the joint venture with Prudential Real Estate Investors and Interra-Vision Development LLC.
Metropolitan Capital Advisors arranged a $30 million loan for the redevelopment of Stage 3 Theatre, a 40,000-sq.-ft. mixed-use center in Aspen, Colo.
Heitman LLC closed its newest investment vehicle, Heitman Russia and Ukraine Property Partners LLC (HRUPP). HRUPP will invest in planned and existing residential and commercial property projects through development partnerships, funding commitments and outright purchases. With equity commitments of $145 million combined with leverage, HRUPP will have the ability to acquire real estate worth $450 million over the next 12 months.
Marcus & Millichap Real Estate Investment Services arranged the sale of the Mervyns Building, a 336,000-sq.-ft. former department store building in Hayward, Calif., from CapMark to a Southern California real estate group for $66.5 million. Lior Regenstreif, of Marcus & Millichap, represented both parties in the transaction.
GEM Realty Capital, Inc. appointed Jones Lang LaSalle as co-leasing and managing agent for Pueblo Mall, a 560,996-sq.-ft. retail property in Pueblo, Colo. Jones Lang LaSalle will work in partnership with the North Shore Properties Group, LLC to lease the project.
Panattoni Development Co. appointed Jones Lang LaSalle as the managing agent for Twin Peaks Mall, a 555,919-sq.-ft. regional shopping center in Longmont, Colo. Sherri Lusk will handle this assignment on behalf of Jones Lang LaSalle.
Romanek Properties sold a 12-building portfolio of office and retail properties in Champaign, Ill., to a California-based family trust for $42 million. The portfolio contained 241,198 sq. ft. of space. Gary Nussbaum, Thomas Gorman and Matthew Mitchell, of Transwestern, negotiated this transaction.
Kimco Realty Corp. sold Claremont Village, an 88,700-sq.-ft. shopping center in Everett, Wash. to I. Schreiber & Associates for $20 million. Colliers International represented both parties in the transaction.
Capmark Finance Inc. originated a $50 million loan for the redevelopment of Twelve Mile Crossing at Fountain Walk, a 737,000-sq.-ft. retail center in Novi, Mich. Jeff Robbins, of Capmark, negotiated the transaction.
Cabot Investment Properties LLC appointed Jones Lang LaSalle as the leasing and managing agent for the Village Shoppes at Creekside, a 213,000-sq.-ft. power center in Gwinnett County, Ga. Monika Cone, Mike Longmore, Sig Arnesen, Chris Rehmet and Jenn Williams will handle this assignment on behalf of Jones Lang LaSalle.
Holliday Fenoglio Fowler, L.P. arranged a $20 million loan for Centre Court, a 150,000-sq.-ft. retail center in Simi Valley, Calif. The loan featured a 5.98% rate and a 25-year term. Mark Wintner negotiated this transaction.
Marcus & Millichap Real Estate Investment Services arranged the sale of Renaissance Center, a 100,282-sq.-ft. shopping center in Houston. Paul Gardner, of Marcus & Millichap, represented the seller in the transaction.
Matt T. Weaver, former president of Capital Mortgage, launched Finance Group Worldwide, LLC, a commercial finance firm specializing in mortgages for shopping centers, restaurants and multi-unit buildings.
iCap Realty Advisors arranged a $20 million loan for a property portfolio containing 13 convenience stores in various locations throughout Georgia. The loan featured a 20-year term and a 25-year amortization schedule. Bill Mitchell, of iCap Atlanta, arranged the financing for this transaction.
Hanley Investment Group Real Estate Advisors negotiated the sale of Mission Village, a 60,604-sq.-ft. shopping center in Fresno, Calif., for $12 million. Eric P. Wohl, of Hanley Investment Group, negotiated the transaction.
Hanley Investment Group Real Estate Advisors negotiated the sale of Lompoc Corners, a 96,648-sq.-ft neighborhood shopping center in Lompoc, Calif., for $16 million. Eric L. Werner and Kevin T. Fryman, of Hanley Investment Group, represented both parties in the transaction.
Marcus & Millichap Real Estate Investment Services retained the exclusive listing for the Shops of Temecula Creek Plaza, a 49,215-sq.-ft. shopping center in Temecula, Calif. Alvin Mansour and Matt Eller will handle this assignment on behalf of Marcus & Millichap.
Sperry Van Ness negotiated the sale of Century Square, a 45,610-sq.-ft. retail center in Simi Valley, Calif., from Rainbow Investments, LLC to Portola Properties, LLC for $9 million. Michael Pourmirza, of Sperry Van Ness, represented the seller in the transaction. Jim Darin, of Westcord Commercial Group, represented the buyer.
NorthMarq arranged a $5 million first mortgage loan for El Dorado Center, a 29,000-sq.-ft. retail facility in McKinney, Texas. The loan featured a 10-year term and a 30-year amortization schedule.
Marcus & Millichap Real Estate Investment Services retained the exclusive listing for Creekside Centre, a 26,233-sq.-ft. shopping center in Temecula, Calif. Alvin Mansour and Matt Eller will handle this assignment on behalf of Marcus & Millichap.
Festival Development Partners, LLC acquired four retail condominiums totaling 3,000 sq. ft. in East Los Angeles.