REBusinessOnline

Loden Properties Sells Target-Anchored Retail Center in Raleigh for $7.4M

RALEIGH, N.C. — Loden Properties has sold a two-tenant shopping center adjacent to North Carolina State University in Raleigh for $7.4 million. The 24,656-square-foot asset is anchored by a 22,211-square-foot, urban-formatted Target and 2,445 square feet is leased to Guasaca, a fast-casual Venezuelan restaurant. San Francisco-based Stockbridge bought the property. Tom Kolarczyk, Justin Good and Warren Johnson of HFF represented the seller in the

Edward Lampert Wins Bid, Sears to Keep 400 Stores Open

HOFFMAN ESTATES, ILL. — Former Sears CEO Edward Lampert has won a bankruptcy auction for Sears Holdings Corp., according to The Wall Street Journal and other media reports. The billionaire hedge-fund manager upped his offer to about $5.3 billion from $4.4 billion. The offer, which will keep roughly 400 stores open, beat out a bid to close all the stores and sell the inventory. The plan must still be approved by the bankruptcy judge at a sale hearing set for Friday, Feb. 1. Last …

Lucescu Realty Brokers $67.2M Sale of Shadow Mountain Marketplace in Las Vegas

LAS VEGAS — Lucescu Realty has negotiated the sale of Shadow Mountain Marketplace, a 359,103-square-foot community shopping center located in Las Vegas. Wynmark Co. sold the property to a private investor for $67.2 million. Developed in 2007 by the seller, Shadow Mountain Marketplace is anchored by Costco, Seafood City Marketplace, Walgreens, Best Buy and Ashley Furniture. Additional tenants include McDonald’s, Chili’s, Wells Fargo Bank, Panda Express, Subway, Sport Clips, Massage …

Miniature Golf, Bar Concept to Open 5,500 SF Venue in West Dallas

DALLAS — Another Round, an entertainment concept that combines miniature golf and alcoholic beverages, will open a 5,500-square-foot venue at 660 Fort Worth Ave., a creative retail and dining space under construction in west Dallas. The venue is expected to open this spring. Construction of the property, which is being developed by Dallas-based Oaxaca Interests, began in

Cushman & Wakefield Arranges $12M Refinancing for Retail Property in Naperville, Illinois

NAPERVILLE, ILL. — Cushman & Wakefield has arranged a $12 million loan for the refinancing of River Square in Naperville. The 58,677-square-foot retail property, located at 22 E. Chicago Ave., is 96 percent leased. Jeffrey Cohen of Cushman & Wakefield arranged the fixed-rate loan on behalf of Clarion Partners and a large overseas pension fund. Voya Investment Management provided the loan. NARE, a local real estate investor, sold the property to Clarion in October

Hanley Investment Group Brokers $5M Sale of Building Leased to Raising Cane’s in Metro Minneapolis

COON RAPIDS, MINN. — Hanley Investment Group Real Estate Advisors has brokered the sale of a new single-tenant building occupied by Raising Cane’s Chicken Fingers in Coon Rapids for $5 million. The 2,780-square-foot building is located at 13001 Round Lake Blvd. Raising Cane’s has a new 15-year lease term. Jeff Lefko and Bill Asher of Hanley represented the seller, OneCore Global. Mehdi Star of Colliers International represented the buyer, a San Francisco-based private investor. The sales …

Block & Co. Negotiates Sale of 19,900 SF Retail Building in Liberty, Missouri

LIBERTY, MO. — Block & Co. Inc. Realtors has negotiated the sale of a 19,900-square-foot retail building in Liberty, a northeastern suburb of Kansas City. The sales price was not disclosed. The property is located on a one-acre pad site in front of Liberty Commons shopping center. The building is fully leased to Blaze Pizza, Phone Medic, Evolve Juicery & Paleo Kitchen, Chic Nails & Spa, Orange Theory Fitness, Joplimo Mattress and McAlister’s Deli. David Block and Alex Block of …

HFF Arranges $160M in Refinancing for Rodeo Drive Retail Property in Beverly Hills

BEVERLY HILLS, CALIF. — HFF has secured $160 million, or $5,691 per square foot, in refinancing for a high-street retail property located at 338-346 N. Rodeo Drive in Beverly Hills. Tom Ford, Bally and Balenciaga occupy the two-story, 28,114-square-foot retail property, which is situated on the premier 300 block and across street from the flagship Gucci store. Marc Schillinger led the HFF team that arranged the 10-year, fixed-rate loan through an entity managed by an affiliate of …

CBRE Brokers Sale of Trader Joe’s-Anchored Shopping Center in Midtown Atlanta

ATLANTA — CBRE’s National Retail Partners has brokered the sale of Midtown Promenade, a 110,988-square-foot shopping center located at 931 Monroe Drive in Midtown Atlanta. Charlotte-based Asana Partners, which purchased Krog Street Market in Atlanta’s Inman Park neighborhood last year, bought the shopping center from an affiliate of Atlanta-based Ackerman & Co. for an undisclosed price. Chris Decoufle, Kevin Reavey and Kevin Hurley of CBRE represented the seller, Ackerman-Midtown …

Selig to Bring Food Hall, Brewery to $1B Mixed-Use Project in Atlanta’s Upper Westside

ATLANTA — Selig Enterprises has added two new food and beverage tenants at The Works, a $1 billion mixed-use development underway on 80 acres in Atlanta’s Upper Westside neighborhood. The Atlanta-based developer has announced a new food hall known as Chattahoochee Food Works. Headed by Robert Montwaid of Gansevoort Consulting, the new food hall will occupy 16,000 square feet of space within The Makers Building, which will front a quarter-mile linear park known as The Spur. The food hall …

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