Retail Traffic

Business Deals

Pacific Coast Capital Partners, LLC and Dunhill Partners formed a joint venture to acquire the Fountains on the Lake, a 589,201-sq.-ft. retail center in Houston. The partners plan to add 50,050 sq. ft. of new space to the property.

Inland Western Retail Real Estate Trust, Inc. and Juliet Cos. entered into a $500 million joint venture to develop multi-tenant retail properties in major metropolitan areas throughout the western U.S. Inland Western will contribute 90 percent of the equity to the venture, or up to $112.5 million.

Alexander's, Inc. closed a $350 million construction loan for its 600,000-sq.-ft. retail development in Rego Park, N.Y. The loan featured a three-year term, with a one-year extension option.

Rent-A-Center selected Excess Space Retail Services, Inc. for the disposition of 220 of its store locations. Ben Dulman and Paul Godles will handle this assignment on behalf of Excess Space.

Sarofim Realty Advisors acquired Brentwood Place Shopping Center, a 315,790-sq.-ft. power center in Nashville from LaSalle Investment Management. Staubach Capital represented the seller in the transaction.

Todd Nathanson, an Encino, Calif.-based retail leasing broker with 18 years of experience, formed illi Commercial Real Estate. The firm will focus on retail leasing and shopping center management.

Architecture firm ka opened its second location, a studio in Tampa, Fla. Senior designer Ken Sizemore will lead the office.

NorthMarq Capital, Inc. arranged a $14.4 million loan for Bear Creek Plaza, a 183,850-sq.-ft. shopping center in Medford, Ore. Ory Schwartz negotiated this transaction.

Faris Lee Investments negotiated the sale of Wenatchee Valley Mall, a 339,725-sq.-ft. retail property in East Wenatchee, Wash., from PASSCO to Vintage Capital Group, LLC for $32.5 million.

Richard Walter, of Faris Lee Investments, represented both parties in the transaction.

Plaza Advisors negotiated the sale of Point Meadows and West Point Meadows Shopping Centers in Jacksonville, Fla. to Konover South LLC for $26.6 million. The contiguous centers total 130,002 sq. ft. Plaza Advisors represented the seller, Point Meadows, Inc., in the transaction.

Holliday Fenoglio Fowler arranged $15 million in loans on behalf of Centre Properties for Southport Plaza and Centre East Shops in Indianapolis. Southport Plaza contains 85,062 sq. ft. of space and Centre East Shops 8,250 sq. ft. Joe Everson negotiated this transaction.

NAI Capital and Sun Commercial negotiated the sale of Sunset Plaza, a 34,300-sq.-ft. retail center in Henderson, Nev., for $14 million. Barry Rothstein, of NAI Capital, and Cathy Jones and Paul Miachika, of Sun Commercial, served as brokers in the transaction.

Sperry Van Ness negotiated the sale of a 67,000-sq.-ft. single-tenant retail center in Syracuse, N.Y., for $12.5 million in a 1031 exchange transaction. Joseph Pietrafesa II, of Sperry Van Ness, and Anthony Pugliese, of TAP Capital, represented the seller in the transaction.

Cohen Financial secured a $12 million acquisition loan for Collins Road Square, a 168,563-sq.-ft. retail center in Cedar Rapids, Iowa. The loan featured a 3-year non-recourse interest-only loan with extension options.

iCap Realty Advisors secured a $10 million permanent loan for an 84,565-sq.-ft. mixed-use property in Birmingham, Mich. The loan featured a 5.76 percent rate, a 10-year term and a 30-year amortization schedule. Jill Jasinski negotiated this transaction.

Holliday Fenoglio Fowler, L.P. negotiated the sale of Market Plaza, a 162,705-sq.-ft. grocery-anchored shopping center in Glen Ellyn, Ill. Paul Barile, Janice Sellis, Jim Batjer and Barry Brown, of Holliday Fenoglio Fowler, represented the seller in the transaction.

WP Realty acquired Middleborough Crossing, a 132,158-sq.-ft. shopping center in Middleborough, Mass.

RCG Ventures acquired West Towne Square, an 87,378-sq.-ft. retail center in Rome, Ga., and Colony Square, a 55,160-sq.-ft center in Fitzgerald, Ga. from Equity One, Inc.

NorthMarq Capital, Inc. arranged an $8.9 million loan for Commerce Corner, a 44,562-sq.-ft. shopping center in Commerce, Calif. The loan featured a 10-year fixed rate. Ory Schwartz negotiated this transaction.

Cohen Financial arranged a $6.25 million refinancing for Eastside Village Center, a 74,980-sq.-ft. shopping center in Lakeland, Fla. The loan features a 10-year term and a 30-year amortization schedule. Howard Taft and Charles Penan negotiated this transaction.

Faris Lee Investments negotiated the sale of two retail pads within the Crossroads Entertainment Center in Chino Hills, Calif. from LNR Properties to Chino Starbuck/Wings LLC for $6.25 million. The pads total 11,100 sq. ft. Richard Walter and Donald MacLellan, of Faris Lee, represented both parties in the transaction.

NAI Capital formed NAI Capital Investment Network, GET IN. The group will specialize in investment acquisitions and dispositions and will connect top-producing brokers from NAI's 16 Southern California offices for improved client service.

Hanley Investment Group Real Estate Advisors negotiated the sale of a 4,333-sq.-ft. multi-tenant strip center in Tustin, Calif. for $3.5 million. Eric P. Wohl and Edward B. Hanley, of Hanley Investment, represented the seller in the transaction. Justin Altemus, of Altemus Co., represented the buyer.

Highland Development Co. sold two single-tenant retail buildings in Bakersfield, Calif. to Bolthouse Properties, LLC for $3.46 million. The properties total 9,979-sq.-ft. of space.

Urban Partners LLC and Real Estate Capitol Partners LP purchased 3.26 acres of land from the City of Burien, Wash. for the development of Burien Town Square, a 10-acre, mixed-use property.

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