DDR Buys Brookside Marketplace in Illinois for $47.4M

In a separate deal, HFF arranged an $11.75 million refinancing on behalf of Mainardi Management Co. for Greentree Square, a 110,296-sq.-ft. grocery-anchored shopping center in Marlton, N.J.Allstate Investments Inc. provided the funding for the loan, which features a fixed interest rate and a 10-year term.

Greentree Square is 92 percent leased. Whole Foods anchors the property. Other tenants include TGI Friday’s and Citizen’s Bank.

Thomas Didio and Michael Cerulo, of HFF, negotiated this transaction.

Utica Shopping Center Sells for $14.1M

Katz Properties Inc. bought Hannaford Plaza, a 189,218-sq.-ft. grocery-anchored shopping center in Utica, N.Y., from Hannaford Station Inc. for $14.1 million. The price represents $74.52 per sq. ft. The deal closed at a cap rate of 9.26 percent.

Hannaford Brothers Inc. and Conway anchor the center. Other tenants at the property include Dollar Tree and Family Dollar.

Joseph C. French Jr. and Thomas C. Dalzell, of Marcus & Millichap Real Estate Investment Services, represented both parties in the transaction.

Cole Capital Buys West Marine Mega Flagship for $12.75M

Cole Capital bought a 50,000-sq.-ft. West Marine flagship store in Fort Lauderdale, Fla. from Stiles Corp. for $12.75 million. It is the largest store in West Marine’s portfolio. David Donnellan, Todd Weintraub, Charlie Manuel and Mark Drazek, of CBRE, represented the seller in the transaction.

Other Notable Deals

NorthMarq arranged a $9.6 million first mortgage for Heritage Plaza, a 139,903-sq.-ft. retail center in Port Charlotte, Fla. The loan, provided by a life insurance company, features a 15-year term and a 15-year amortization schedule. David Garfinkel and Robert Hernandez, of NorthMarq, negotiated this transaction. NorthMarq also negotiated a $5.5 million refinancing for 300 and 400 Market St., a 64,362-sq.-ft. mixed-use property in Chapel Hill, N.C.Genworth Financial provided funding for the transaction. The loan features a 10-year term and a 20-year amortization schedule. Todd Crouse, of HFF, negotiated this transaction.

Voyage-Largo LLC bought a net leased CVS Pharmacy in Largo, Fla. for $4.12 million. Mel Moss and Dan Spell, of NAI Capital, represented the buyer in the transaction.