BUSINESS DEALS
Mar 1, 2008 12:00 PM
David Cronheim Mortgage Corp. secured a $9.98 million loan for SoNo Square, a 93,068-sq.-ft. retail and office center in Norwalk, Conn. The loan featured a 10-year term and a 30-year amortization schedule. Andrew Stewart and Dev Morris negotiated this transaction.
Edgemark Commercial Real Estate Services, LLC became the property management agent for the following six centers in Illinois: Elburn Crossing Shopping Center in Elburn; Long Run Marketplace in Lemont; the Shoppes of Long Grove in Long Grove; Eola Commons Shopping Center in Aurora; Winfield Pointe Shopping Center in Winfield; and Mill Pond Shoppes in Long Grove. Richard Robey will oversee this assignment on behalf of Edgemark Commercial.
Marcus & Millichap Real Estate Investment Services has been appointed as the exclusive listing agent for a four-property, single-tenant retail portfolio located across the East Coast and Midwest. The properties include three Wal-Mart Supercenters in Winston-Salem, N.C., Greenville, S.C., and Alliance, Ohio, and a Sam's Club in Worcester, Mass. The listing price is $80 million. John Riser and Adam Goldsmith will handle this assignment on behalf of Marcus & Millichap.
Equity Group Investments, Inc. appointed CBL & Associates Properties, Inc. as the management agent for Ford City Mall, a 1.3-million-square-foot enclosed regional mall in Chicago, and Adrian Mall, a 373,000-sq.-ft. enclosed regional mall in Adrian, Mich.
Holliday Fenoglio Fowler, L.P. arranged a $22.5 million refinancing for Expressway Plaza Shopping Center, a 94,026-sq.-ft. retail property in Staten Island, N.Y. The loan featured a 10-year term. Robert Delitsky and Todd Newman negotiated this transaction.
Boston Market Corp. retained RCS Real Estate Advisors to evaluate real estate opportunities within its portfolio. Boston Market Corp. owns more than 550 restaurants in 28 states.
Jones Lang LaSalle acquired the Kemper's Group, a German retail property advisor. Kemper's offers investment, leasing, consulting, valuation and management services. When the acquisition is completed, in May 2008, it will increase the number of Jones Lang LaSalle's offices to 10, includes offices in Leipzig, Cologne and Hannover.
Sperry Van Ness aligned with R.M. Moore Real Estate, a 19-advisor commercial real estate firm based in Knoxville, Tenn. The firm specializes in all aspects of commercial real estate and operates throughout eastern Tennessee.
Hanley Investment Urban Retail Advisors has been appointed as the exclusive listing agent for the Shops at the Mercury, a 23,191-sq.-ft. retail property in Los Angeles. Eric P. Wohl and Carlos J. Lopez will handle this assignment on behalf of Hanley Investment. The listing price is $23 million.
Dunhill Partners West purchased Pacific Commons, a 151,233-sq.-ft. retail center in Spanaway, Wash., from PK Sale LLC for $20.2 million. Paul Sleeth, of Colliers Retail, represented the seller in the transaction.
Faris Lee Investments negotiated the sale of Foothill Plaza, a 29,006-sq.-ft. retail center in Rancho Cucamonga, Calif., from Peninsula Retail Partners to Sechong I LLC for $19.75 million. Jeff Conover, of Faris Lee Investments, represented both parties in the transaction.
Regency Centers acquired 32 acres of land in Lower Nazareth Township, Pa., for the construction of a 238,934-sq.-ft. shopping center.
