REBusinessOnline

Retail

Sterling Organization Receives $12.1M in Acquisition Financing for Retail Building in Beverly Hills

BEVERLY HILLS, CALIF. — Sterling Organization has received $12.1 million in financing for the acquisition of a vacant 4,700-square-foot retail building located on North Beverly Drive in Beverly Hills. Marc Schillinger, Chris Drew and Ryan Ash of HFF worked on behalf of the borrower to place the non-recourse, fixed-rate loan at $2,583 per-square-foot.

February 21, 2017

Coldwell Banker Secures Sale of Former Star-Telegram Plaza in Arlington

ARLINGTON, TEXAS — American Motorcycle Trading Co., a supplier of pre-owned motorcycles, has acquired the former Star-Telegram Plaza, a two-story, 37,800-square-foot building at 3201 Airport Freeway in Arlington. At the time of sale, the property, which includes both office and retail space, had been vacant for a full year. Renee Efimoff represented the buyer of record, B&B Family Partnership, while Greg Hoffman of Colliers International represented the seller, Aberfeldy Properties Inc., a..

February 21, 2017

Houlihan-Parnes Realtors Secures $3.2M Loan for Retail, Office Building in Connecticut

GREENWICH, CONN. — Houlihan-Parnes Realtors has arranged a $3.2 million first mortgage for a retail and office building located at 79 E. Putnam Ave. in Greenwich. Christie Houlihan of Houhlian-Parnes secured the financing for the undisclosed borrower. The non-recourse loan has a fixed interest rate for seven years. The 20,000-square-foot building was fully leased at the time of financing.

February 21, 2017

NorthMarq Arranges $4M Refinancing of Grocery-Anchored Retail Property in Metro Tampa

BRANDON, FLA. — NorthMarq Capital has arranged the $4 million refinancing of Lithia Square, a 69,007-square-foot, grocery-anchored retail property located at 901-927 Lithia Pinecrest Road in Brandon, about 12 miles east of Tampa. Walmart Neighborhood Market is on a ground lease at the property, and Walmart owns the building. Robert Hernandez of NorthMarq Capital’s Tampa office arranged the 10-year loan with a 30-year amortization schedule through a national CMBS lender.

February 21, 2017

Detroit City Skateboards Rents 1,000 SF in Ferndale, Michigan

FERNDALE, MICH. — Detroit City Skateboards has signed a 1,000-square-foot retail lease in Ferndale in the northern Detroit metro area. The local skateboard shop, which sells skate accessories and apparel, will be located off of 9 Mile Road. Ben Hubert of Colliers International arranged the lease transaction. Hubert also recently leased the space next door to Maestros Dog Haus on behalf of the landlord.

February 21, 2017

Parent Company of Burger King Acquires Popeyes Louisiana Kitchen for $1.8B

ATLANTA — Restaurant Brands International Inc. (RBI) (NYSE: QSR) has agreed to acquire Atlanta-based Popeyes Louisiana Kitchen Inc. (NASDAQ: PLKI) for $1.8 billion. Ontario, Canada-based RBI is the parent company of fast food giants Burger King and Tim Hortons. The company owns a portfolio of over 20,000 restaurants throughout the world. Popeyes will continue to be managed independently in the U.S. following the close of the transaction, which is slated for April of this year. RBI plans..

February 21, 2017

Saxum Real Estate Acquires 18,000 SF Retail Building in New Jersey

NEW BRUNSWICK, N.J. — Saxum Real Estate has purchased a vacant retail building, located at 37 Easton Ave. in Brunswick, for an undisclosed price. Completed in 2009, the two-story building features 18,000 square feet of space that can be reconfigured to multi-tenant retail, office and residential space. Marc Duval, Jose Cruz, Kevin O’Hearn, Michael Oliver and Stephen Simonelli of HFF represented the undisclosed seller in the deal.

February 20, 2017

Q10 New York Realty Advisors Arranges $8.9M Loan for Three Properties in New York

EASTCHESTER, TUCKAHOE AND GREENBURGH, N.Y. — Q10 New York Realty Advisors, an affiliate of Houlihan-Parnes Realtors, has arranged an $8.9 million permanent loan secured by three properties in Westchester County, N.Y. The borrower is a long-term owner of the properties, which include a retail strip center in Eastchester and two warehouse/industrial buildings in Tuckahoe and Greenburgh. The warehouse buildings are net-leased to Verizon. Jeanne Cronin of Q10 secured the five-year loan, which..

February 20, 2017

Ariel Properties Secures $1.8M Acquisition Loan for Mixed-Use Building in Manasquan, New Jersey

MANASQUAN, N.J. — Ariel Property Advisors has arranged a $1.8 million acquisition loan for the $2.4 million purchase of a mixed-used property, located at 140 Main St. in Manasquan. The 6,000-square-foot property features four retail units and five residential units. Ariel’s Capital Services Division arranged the non-recourse seven-year loan for an undisclosed borrower.

February 20, 2017

The Silver Group Negotiates Sale of Retail Property in Temple, Texas

TEMPLE, TEXAS — The Silver Group has arranged the sale of a single-tenant retail property located at 1519 W. Central Ave. in Temple. An undisclosed individual acquired the 14,820-square-foot, freestanding building for an undisclosed price. Walgreens signed a 20-year, absolute net lease for the property, but chose to sub-lease the property to a multi-unit emergency care operator. The Silver Group represented the undisclosed seller in the deal.

February 20, 2017