S hopping C enters Marcus & Millichap arranges the $5.8 million sale of a 35,000 s/f retail property $19.6 million sale of five net-leased childcare centers arranged by Marcus & Millichap G www.marejournal.com M id A tlantic Real Estate Journal — Shopping Centers — 3A AMBRILLS , MD — Marcus & Milli- chap has arranged
the sale of five net-leased childcare properties to five separate buyers. The aggre- gate sales price for the assets is $19,680,271. Four of the properties are KinderCare Learning Cen- ters and one is a Knowledge Beginnings Child Develop- ment Center. The KinderCare Learning Centers are located in Florida, Illinois and Mary- land. The Knowledge Begin- nings asset is in Colorado. Dean Zang , first vice presi- dent investments, and Chris- topher Phillips, associate, both in Marcus & Millichap’s Washington, DC office, and Mark Taylor , first vice presi- dent investments in the firm’s Philadelphia office, repre- sented the seller, a California- based real estate investment fund. Zang, Phillips and Tay- lor, along with Tammy Saia , vice president investments in Marcus &Millichap’s Chicago Oak Brook office, and Steven Siegel and Michael Kook in
Harbor Freight Center
KinderCare Learning Center; Gambrills, MD
the firm’s Manhattan office, procured the buyers. Sharone Sabar , first vice president capital markets with Marcus & Millichap Capital Corp. in Encino, ar- ranged financing for the pur- chase of the KinderCare in Orlando, FL. “In 2014, we represented the buyer in the acquisition of these assets as a portfolio purchase,” said Zang. “Upon completion of that transac- tion, the purchaser immedi-
ately engaged our services to resell the properties on a one-off basis. We completed the assignment in less than 10 months and achieved a return that eclipsed our client’s best case pro forma scenario.” The properties are: •Knowledge Beginnings, 11,400 s/f, Denver, CO •KinderCare, 10,340 s/f, Orlando, FL. •KinderCare, 10,340 s/f, Wesley Chapel, FL. •KinderCare, 9,600 s/f,
Huntley, IL. •KinderCare, 9,728 s/f, Gambrills, MD. n CLIFTON, NJ — Marcus & Millichap , a leading com- mercial real estate invest- ment services firmwith offices throughout the United States and Canada, announced the sale of Harbor Freight Center, a 35,000 s/f retail property located in Clifton, NJ, accord- ing to Brian Hosey , regional manager of the firm’s New
Jersey office. The asset sold for $5.8 million. Kevin Taub and Michael Lombardi , investment spe- cialists in Marcus & Millic- hap’s New Jersey office, had the listing to market the prop- erty on behalf of the seller, a private investor. The buyer, also a private investor, was secured and represented by Michael Lombardi. Harbor Freight Center is located at 1016 Main Ave.in Clifton, NJ. n
Robert Ranieri of NorthMarq Capital finalizes $16m refinance of Wallington Plaza inWallington, New Jersey represents the property’s major tenant.
WALLINGTON, NJ — Robert W. Ranieri , senior vice president/managing
“The bank delivered an excellent quote based on a 25 year ground lease to a newly opened Shoprite,” said Ranieri. NorthMarq Capital pro- vides debt , equi ty and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relation- ships with life companies, CMBS platforms and lo- cal, regional and national banks and has a long track record of multi-family loan origination through Freddie Mac Program Plus, the Fan- nie Mae DUS program and through FHA, resulting in more than $13 billion in an- nual production volume and a loan portfolio of more than $45 billion. n
director of N o r t h - Marq Capi- tal ’s Great- e r W e s t - chester NY/ CT b a s e d r e g i o n a l o f f i c e a r - ranged the
Robert Ranieri
$16 million refinance of Wallington Plaza, a 92,823 s/f retail property located at 375 Paterson Ave. in Wal- lington, New Jersey. The transaction was structured with a 7-year term and 30- year amortization sched- ule. NorthMarq arranged ground-lease financing for the borrower through its relationship with a regional bank. Shoprite Supermarket
Wallington Plaza
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