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Retail

Bellwether Enterprise Secures $37M Financing for Mixed-Use Property in NYC

NEW YORK CITY — Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, has secured $37 million in financing for The Larkspur, a mixed-use property in the Central Harlem neighborhood of Manhattan. The eight-story building includes 116 apartment units along with seven ground-floor commercial spaces. Bellwether provided a fixed-rate CMBS loan with a 12-year term through Fannie Mae. The terms of the financing..

April 27, 2017

JJ Operating, Houlihan-Parnes Realtors Acquire Shopping Center in Lawrence, N.J.

LAWRENCE, N.J. — JJ Operating Inc., in partnership with Houlihan-Parnes Realtors, has acquired Lawrence Shopping Center in Lawrence. The new owners will implement a $5 million renovation plan designed to improve the aesthetics and functionality of the center. Capital improvements will include a façade renovation, enhanced landscaping as well as storefront and tenant improvements. The renovations will be completed by the end of the year. The 393,430-square-foot shopping center is accessible..

April 27, 2017

Marcus & Millichap Brokers Sale of 40,860 SF Self-Storage Facility in Kerrville, Texas

KERRVILLE, TEXAS — Marcus & Millichap has brokered the sale of A-B-C Self Storage, a 40,860-square-foot self-storage facility in Kerrville, a city approximately 65 miles northwest of San Antonio. Situated on 2.2 acres at 1201 Bandera Highway, the property comprises 269 units within 40,700 square feet of net rentable space. Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company. Butch Lagred and Chad Knibbe, also with Marcus & Millichap, represented..

April 26, 2017

Dog Haus Plans 300 New Locations Over Next Seven Years

PASADENA, CALIF. — Dog Haus, a Pasadena-based gourmet hot dog, sausage and burger concept, has signed a development agreement with American Development Partners. The agreement includes the construction of over 300 new Dog Haus franchise locations in 12 states over the next seven years. The new locations will be built on land primarily purchased for built-to-suit and standalone Dog Haus Biergarten concepts, and will be operated by franchisees with multi-unit and multi-brand experience. The..

April 26, 2017

Inroads Realty Arranges Sale of 39,797 SF Retail Asset in Henderson, Texas

HENDERSON, TEXAS — Inroads Realty, a Dallas-based brokerage firm, has arranged the sale of a 39,797-square-foot retail property previously leased to Brookshire’s Grocery Store in Henderson, a city roughly two hours east of Dallas. Thad Beckner of Inroads represented the buyer, Brandywine Financial, a Pennsylvania-based real estate investment and management firm, in the transaction

April 26, 2017

Vapiano to Open 9,188 SF Restaurant in Chicago

CHICAGO — Vapiano has unveiled plans to open a 9,188-square-foot restaurant inside the AC Hotel Marriott in Chicago. The property is located at 630 N. Rush St. Spread over two floors, the new restaurant will serve Vapiano's trademark pasta, pizza and salad by chefs from an open kitchen. The company has an established location at 44 S. Wabash Ave. and more than 181 locations in 31 countries. Matt Alexander and John Skalla of Bradford Allen represented Vapiano in the lease transaction. Todd..

April 26, 2017

CBRE Arranges $33.3M Sale of BeachWalk Shopping Center in Solana Beach

SOLANA BEACH, CALIF. — CBRE has arranged the $33.3 million sale of BeackWalk, a 54,973-square-foot shopping center located in Solana Beach. Tenants at the center include California Pizza Kitchen, Alfonso’s of La Jolla, Rubio’s Coastal Grill and Banfield Pet Hospital. John Read, Philip Voorhees, Jimmy Slusher and Kirk Brummer of CBRE represented the buyer, a fund manager based in Chicago. The same team from CBRE, alongside Reg Kobzi of CBRE’s San Diego office, represented the seller,..

April 25, 2017

Equicap Secures $5.8M Construction Loan for Mixed-Use Development in NYC

NEW YORK CITY — Equicap has secured a $5.8 million construction loan for a mixed-use development in the Williamsburg neighborhood of Brooklyn. The site is located directly above an L train subway stop and within walking distance to the JMZ trains. The developer obtained approval from the MTA for the project. The property will feature five condo units and one ground-floor retail space.

April 25, 2017

Dirt Cheap Opens Three Retail Locations in Greater Houston Area

PASADENA, SPRING AND ALVIN, TEXAS — Dirt Cheap, a Mississippi-based extreme value retailer, has signed leases at three locations in the greater Houston area. Among the new deals are a 24,000-square-foot lease at 4801 Fairmont Parkway in the eastern suburb of Pasadena; a 27,927-square-foot lease at Westfield Shopping Center in the northern suburb of Spring; and a 25,843-square-foot lease at Meadow Park Shopping Center in the southern suburb of Alvin. Matt Parsons, Mark Raines and Chris Burns..

April 25, 2017

Marcus & Millichap Closes Sale of Retail Property Leased to Dollar General in Beaumont

BEAUMONT, TEXAS — Marcus & Millichap has closed the sale of a 9,014-square-foot retail property located at 5468 College St. near Interstate 10 in Beaumont. The single-tenant building, which was built in 2007, is leased exclusively to Dollar General. Geoff Ficke and Chris Adams of Marcus & Millichap represented the seller, a private investor, in the transaction. Other terms of the sale were not disclosed

April 25, 2017