REBusinessOnline

Retail

ARM Real Estate Negotiates $1.8M Sale of Retail Property in Queens

NEW YORK CITY — ARM Real Estate group has negotiated the sale of 31-52 Steinway St. in the Astoria neighborhood of Queens for $1.8 million. The two-story, 1,944-square-foot retail building was delivered vacant at closing and the new owner has put the asset up for lease.  The property, built in 1930, sits between Broadway and 31st Avenue, two blocks away from the M and R subway stops. Anand Melwani and Alexandre Goulet of ARM Real Estate Group represented both parties in this transaction...

March 24, 2017

RD Management Sells 112,900 SF Former Sears Building in South Bend, Indiana

SOUTH BEND, IND. — RD Management LLC has sold a former Sears Essentials building located at 4640 S. Michigan St. in South Bend. A national retailer purchased the 112,900-square-foot property for an undisclosed price. The vacant building sits on 16 acres near U.S. Highway 31. A Ford dealership and Aldi supermarket are adjacent to the property, and Erskine Commons and Erskine Plaza centers are nearby. RD Management sold the asset as part of the company’s strategy to reposition its portfolio..

March 24, 2017

NAI Wisinski Arranges Sale of 5,720 SF Restaurant Building in Grand Rapids, Michigan

GRAND RAPIDS, MICH. — NAI Wisinski has arranged the sale of a 5,720-square-foot restaurant building in Grand Rapids. Georgina’s Fusion Cuisine, a Traverse City-based Asian and Latin taqueria, purchased the two-story building for an undisclosed price. Located at 724 Wealthy St., the property will feature a 2,860-square-foot restaurant on the first floor and two apartments on the second floor. The building will undergo major renovations for the full-service restaurant before an anticipated..

March 24, 2017

Adolfson & Peterson Completes Parking Garage in Downtown Fort Worth

FORT WORTH, TEXAS — Adolfson & Peterson Construction has completed Cowtown Place Garage, a 312,500-square-foot, nine-story parking deck with 26,000 square feet of retail space on the ground level. Located next to Sundance Square in downtown Fort Worth, the structure houses 850 parking spaces. Woodbranch Investments served as general contractor on the project.

March 23, 2017

Marcus & Millichap Brokers Sale of Self-Storage Facility in Katy

KATY, TEXAS — Marcus & Millichap has closed the sale of Longhorn Self Storage, a 334-unit self-storage facility located at 22223 Kingsland Blvd. in the Houston submarket of Katy. Dave Knobler of Marcus & Millichap represented the seller, an undisclosed limited liability company, and procured the buyer, a Houston-based limited liability company.

March 23, 2017

Tiktin Brokers $5.1M Sale of Grocery-Anchored Retail Center in Cocoa, Fla.

COCOA, FLA. — Tiktin Real Estate Investment Services (TREIS) has brokered the $5.1 million sale of Clearlake Square, an 85,522-square-foot shopping center in Cocoa, a city roughly 45 miles east of Orlando. Situated on 7.5 acres at 1066 Clearlake Road, the Winn Dixie-anchored property is also home to tenants such as Family Dollar, Metro PCS and Jackson Hewitt. Adam Tiktin and Cliff Weisner of TREIS represented the sellers, Cocoa Commercial Properties LLC and Top of the Ridge LLC, as well as..

March 23, 2017

Colliers Negotiates $5M Sale of 114,869 SF Office and Retail Property in Columbus, Ohio

COLUMBUS, OHIO — Colliers International has negotiated the sale of Olentangy Valley Center in Columbus for $5 million. The 11.2-acre property consists of a 60,000-square-foot retail center and two office buildings, one totaling 30,093 square feet and the other totaling 24,775 square feet. Kevin James and Grant Chaney of Colliers represented the undisclosed seller in the transaction.

March 23, 2017

Boulder Group Negotiates $1.2M Sale of Dollar General in Grand Cane, La.

GRAND CANE, LA. — The Boulder Group has completed the sale of a 9,014-square-foot Dollar General located at 8212 Highway 171 in Grand Cane, a town about 35 miles south of Shreveport. Jimmy Goodman and Randy Blankstein of The Boulder Group represented the seller, a Louisiana-based developer, in the transaction. The buyer, a Southwest-based private partnership, purchased the triple net leased property for approximately $1.2 million.

March 23, 2017

Construction Begins on Tremont Renaissance Mixed-Use Property in The Bronx

NEW YORK CITY — Construction has begun and retail leasing is underway at Tremont Renaissance, a mixed-use property located at 1910 Webster Ave. in the East Tremont section of the Bronx. The building is an affordable housing development that fronts Webster and East Tremont avenues. Tremont Renaissance is located near the Tremont Metro-North station, the Tremont Avenue subway station on the B and D lines and several bus routes. Half of the 256 units in the 12-story building will rent to people..

March 23, 2017

Blue Ribbon Federal Grill to Open in NYC

NEW YORK CITY — Blue Ribbon Federal Grill has opened on the ground floor of AKA Wall Street, an all-residential hotel located at 84 William St. in Manhattan’s Financial District. The 98-seat restaurant is located across the street from the Federal Reserve Bank of New York at the corner of Maiden Lane and William Street. The first Blue Ribbon Federal Grill opened its doors in 1992. Asfour-Guzy Architects designed the new Manhattan location.

March 23, 2017