Melrose Park, Ill. — Pacific Southwest Realty has arranged $36 million in refinancing for Winston Plaza, a 400,000-square-foot shopping center located in the Chicago suburb of Melrose Park. Kostas Kavayiotidis of Pacific Southwest Realty and Bryan Gortikov of Gortikov Enterprises arranged the loan through Wells Fargo on behalf of the borrower, NewMark Merrill. Sandra Kist and Josh Ginsborg internally represented NewMark Merrill in the transaction.
NewMark Merrill acquired Winston Plaza in 2008, and shortly thereafter completed an extensive remodeling and repositioning of the property. The center has added more than 100,000 square feet of new retailers in the years since, including Ross Dress for Less, JD Sports, Sistar Beauty, an expanded Five Below and a Cermak Fresh Market.
Conyers, Ga. — JLL Capital Markers has negotiated the $25.4 million sale of Salem Gate Market, a 177,527-square-foot retail center located in Conyers, a southeast suburb of Atlanta in Rockdale County. Brad Buchanan, Jim Hamilton, Andrew Kahn and Anton Serafini of JLL represented the seller, Tri-Land Properties, in the transaction. Gregg Shapiro, Hunter Goldberg and Austin Smith, also of JLL, represented the buyer, Highline Real Estate Capital LLC, in procuring the acquisition loan.
Salem Gate Market is fully leased to tenants including Floor & Decor, Academy Sports + Outdoors, Northern Tool & Equipment, Delta Community Credit Union, Iron Age Korean Steakhouse, The Vitamin Shoppe, Conyers Nail Lounge and AT&T.
Stockton, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $27 million sale of Pacific Town Center, a newly remodeled, 142,957-square-foot shopping center located in Stockton. Smart & Final Extra!, Chuze Fitness and Ross Dress for Less anchor the center, which was fully leased at the time of sale. Additional tenants include Aaron’s, CoinWorks, Concentra Health Services, H&R Block, Panda Express, Subway, Total Wireless and Western Dental. Pacific Town Center was originally built in 2003 on roughly 10 acres.
Sean Cox and Kevin Fryman of Hanley represented the seller, Brixton Capital, in the transaction. The buyer, CJ Park & Associates, internally represented themselves.