REBusinessOnline

GFP Real Estate Acquires 311,000 SF Office, Retail Building in Manhattan

NEW YORK CITY — Locally based investment and development firm GFP Real Estate has acquired 675 Avenue of the Americas (AOA), a 311,000-square-foot office and retail building located in the Flatiron District of Manhattan. Originally constructed in 1901 to house the Adams Dry Goods department store, the Class A property houses the headquarters of several major companies, including Weight Watchers, Nielsen and Trader Joe’s. GFP partnered on the sale with tech firm Guidepoint, which will occupy …

Midwood Investment to Develop 94,000 SF Retail Property in Los Angeles’ Studio City

LOS ANGELES — Midwood Investment & Development plans to build The Shops at Sportmen’s Lodge at the intersection of Coldwater Canyon Avenue and Ventura Boulevard in the Studio City neighborhood of Los Angeles. Designed by Gensler, the new ground-up development will feature 94,000 square feet of retail space and communal outdoor space designed OLIN Studio, as well as more than 450 parking spaces. Groundbreaking will commence in August, with an estimated opening slated for fall …

MARCEL Breaks Ground on 68,785 SF Office, Retail Property in Metro Houston

SUGAR LAND, TEXAS — MARCEL, a privately owned development firm based in The Woodlands, has broken ground on a 68,785-square-foot office and retail property in Sugar Land, a southwestern suburb of Houston. The property, which will be located adjacent to Johnson Development’s Riverstone master-planned community, is slated for a spring 2020 completion. Approximately 41,785 square feet will be dedicated to retail and restaurant uses, while 27,000 square feet will be earmarked for office

Two New Restaurants to Open at Manhattan Village in Southern California

MANHATTAN BEACH, CALIF. — Two new restaurants are joining the tenant roster at Manhattan Village, a 573,000-square-foot indoor/outdoor mixed-use dining and retail property located in Manhattan Beach. The restaurants are: • dan by ROC (Republic of China), a new concept from ROC that offers home-cooked Chinese food, specializing in dumplings and noodles. Situated within the Village Shops, the 3,500-square-foot location is scheduled to open in fall 2020. • edo Little Bites, which …

Kraus-Anderson Begins Construction of 52,000 SF Ziegler CAT Dealership in Willmar, Minnesota

WILLMAR, MINN. — Kraus-Anderson has begun construction of a 52,000-square-foot dealership for Ziegler CAT’s agriculture and construction equipment in Willmar. The company is expanding its equipment sales, rental and repair services in the central Minnesota area. Ziegler CAT is one of Caterpillar’s largest dealers in North America. Ziegler sells and services CAT construction, paving, forestry, mining equipment, trucks, generators and industrial engines. The new project will replace the …

Marcus & Millichap Brokers $4.2M Sale of New-Construction Retail Property in Lockport, Illinois

LOCKPORT, ILL. — Marcus & Millichap has brokered the sale of a new-construction, 7,749-square-foot retail property in Lockport for $4.2 million. Located on West 159th Street, the property is home to Aspen Dental and Panera Bread. Aspen Dental has a new 10-year lease while Panera Bread has a new 15-year lease. Austin Weisenbeck, Barry Wolfe, Glen Kunofsky and Sean Sharko of Marcus & Millichap marketed the property on behalf of the undisclosed seller. An out-of-state buyer completed a …

Brick & Bourbon to Open at Apartment Property in Eden Prairie, Minnesota

EDEN PRAIRIE, MINN. — Brick & Bourbon, a craft bar and eatery, has signed a lease to occupy space within Elevate at Southwest Station Apartments in Eden Prairie. The apartment project is expected to open in late August, with Brick & Bourbon opening by the end of the year. This will be the fourth location for Brick & Bourbon. Unique offerings include the candied bacon flight, chocolate cigars and Reuben soup in a crock, along with more traditional fare such as sandwiches, ribs and …

KW Commercial Arranges $2.6M Sale of Office, Retail Building in Burnsville, Minnesota

BURNSVILLE, MINN. — KW Commercial has arranged the sale of the Nicollet Plaza Building in Burnsville for $2.6 million. The property, situated at 200 E. Travelers Trail, is a 20,653-square-foot, two-story office and retail building. Anchored by SharePoint Credit Union, the asset includes a mix of retail and office tenants. Matthew Klein, Andy Manthei and David Lund of KW Commercial represented the seller, Nicollet Plaza II LLC. The team also secured the buyer, Nicollet Office Partners

Cushman & Wakefield Arranges $6.9M Sale of Two Walgreens-Occupied Assets in Metro Phoenix

PHOENIX AND SURPRISE, ARIZ. — Cushman & Wakefield has brokered the sales of two retail properties, located at 1840 W. Southern Ave. in Phoenix and 14285 W. Grand Ave. in Surprise. The properties were controlled by Grand Village CFI of Telluride, Colo. The two single-tenant properties, totaling 29,300 square feet, were 100 percent occupied by Walgreens at the time of sale. Rolling Hills Estates, Calif.-based Cove Capital acquired the 14,560-square-foot property in Phoenix for $4.6 …

Kimco Sells Retail Property in Oakbrook Terrace, Illinois for $21M

OAKBROOK TERRACE, ILL. — Kimco Realty Corp. has sold a 176,164-square-foot retail property in Oakbrook Terrace for $21 million. Known as 22nd Street Plaza, the shopping center is fully leased to retailers such as Home Depot, Party City and Big Lots. Restaurants Twin Peaks and Naf Naf Grill are located on the site as well. The property includes 850 parking spaces. George Good and Christian Williams of CBRE represented Kimco in the sale. A California-based private investor purchased the

Conferences