REAL ESTATE

Lane Bryant opens four shopping center stores Nov. 8

BY Dan Berthiaume

Columbus, Ohio – Lane Bryant is opening four stores at different shopping centers on Nov. 8. These locations include a refreshed store at Eastwood Towne Center and a new store at The Marketplace at Delta Township in Lansing, Mich., as well as new stores at the Clackamas Promenade in Clackamas, Ore., and the Epps Bridge Center in Athens, Ga.

Lane Bryant operates more than 800 full-line and outlet stores in 48 states nationwide.

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REAL ESTATE

Subway extends mall lease in Mount Vernon, Ill.

BY Michael Fickes

Mount Vernon, Ill. — Sansone Group and Pine Tree Commercial Realty LLC have signed a lease extension with Subway restaurant at Times Square Mall in Mount Vernon, Ill. As part of the extension, Subway will expand its restaurant by approximately 500 sq. ft.

Sansone Group (www.sansonegroup.com) and Pine Tree (www.pinetreecommercial.com) own the 269,328-sq.-ft. center in partnership with the Wanxiang America Real Estate Group.

Times Square Mall is currently undergoing a redevelopment, which has brought in new anchor tenants Hobby Lobby and Big Lots! to complement existing anchors J.C. Penney, Dunham Sports and Peebles.

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Quantum Capital arranges refi for Las Vegas retail centers

BY Michael Fickes

Beverly Hills, Calif. — Quantum Capital Partners, a real estate finance and advisory firm, has arranged two new loans to refinance two retail properties in Las Vegas for a private investor.

A $1.04 million loan will refinance the 12,000-sq.-ft. El Mercado, an L-shaped retail center in east Las Vegas, and a $1.19 million loan will refinance Wigwam, a 10,300-sq.-ft. strip center about four miles south of the Las Vegas Strip.

First Security Bank of Nevada provided the 10-year 5 + 5 loans — the first five years will carry a fixed interest rate of 5.25%, while the second five years reset the interest rate to the prevailing rate at the time.

El Mercado tenants include Latino Mercado, Laundry Land, Angels Beauty Salon and Tattoo Lounge. The property is 90% occupied but has a number of leases expiring soon. The Wigwam strip center tenants include Deli/Pizzeria, Labor Ready, Vinson Insurance, Cash Plus, Vegas Spa, Big V Mart and Jess Vanes Beauty Salon.

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