REBusinessOnline

Retail

CBRE Arranges $3.1M Refinancing of Retail Property in Indianapolis

INDIANAPOLIS — CBRE has arranged a $3.1 million loan for the refinancing of Cherry Tree Crossing in Indianapolis. The 13,400-square-foot retail property is home to tenants such as QDoba Mexican Grill, Gentle Dentist and T-Mobile. Jason Brown and Dan Gable of CBRE arranged the 10-year loan, which includes a 30-year amortization schedule. EverBank provided the loan for the undisclosed borrower.

September 22, 2017

Madison International to Acquire 51 Percent Interest in 2.1 MSF Retail Portfolio in NYC

NEW YORK CITY — Madison International Realty and Forest City Realty Trust have signed definitive agreements for Madison’s acquisition of Forest City’s 51 percent interest in a 2.1 million-square-foot retail portfolio. The transaction is valued at $1 billion. Scattered across Manhattan, Brooklyn, Queens, the Bronx, Staten Island and Northern New Jersey, the 12-property portfolio is 95 percent leased. Madison plans to engage Cushman & Wakefield as the third-party property management and..

September 22, 2017

Fortis Property Group Buys Dock Square Garage in Boston for $170M

BOSTON — Fortis Property Group has purchased Dock Square Garage, a parking garage and retail property located adjacent to Faneuil Hall in downtown Boston, for $170 million. The property features 698 parking spaces and 16,100 square feet of retail space, which is leased to Hard Rock Café. The asset also offers three to four stories of additional development potential. Robert Griffin, Edward Maher, Matthew Pullen and James Tribble of Newmark Knight Frank represented the seller, Dock Square..

September 22, 2017

Publix to Anchor New 59,600 SF Shopping Center in Huntsville

HUNTSVILLE, ALA. — Watkins Real Estate Group has signed a 45,600-square-foot lease with Publix Super Markets Inc. to anchor The Pinnacle at Providence, a 59,600-square-foot retail center under development in Huntsville’s Providence neighborhood. The Atlanta-based retail and multifamily development company acquired the 9.2-acre site in 2016 and recently secured construction financing through BB&T Corp. In addition to Publix, the tenant lineup includes Courtney Murray DDS, Allure Nails..

September 22, 2017

Unison Realty, ALTO Real Estate Acquire 120,349 SF Shopping Center in Toms River, New Jersey

TOMS RIVER, N.J. — Unison Realty Partners and ALTO Real Estate Funds have acquired Commons at Hooper, a community shopping center located at 1350 Hooper Ave. in Toms River, for $21.1 million. Built in 1987, the 120.349-square-foot property is situated on 14.6 acres and has a pad site for future development. Michaels, DSW Shoe Warehouse, Dollar Tree, Mattress Firm, Dress Barn, The UPS Store, Avenue, Sally Beauty, Jersey Mike’s Subs and Citi Financial are tenants at the 86 percent-leased..

September 22, 2017

JCR Cos. Acquires Retail Center in Northern Virginia for $17.7M

FRONT ROYAL, VA. — Washington, D.C.-based The JCR Cos. has acquired Riverton Commons, a 69,496-square-foot shopping center in Front Royal, for $17.7 million. CBRE represented the seller, EDENS, and First Virginia Community Bank provided acquisition financing. Constructed in 2007, Riverton Commons is home to tenants including Valley Health Systems Urgent Care, Great Clips, Mattress Warehouse, Sweet Frog, Anytime Fitness, Hibbett Sports and Tropical Smoothie Café. The property is part of a..

September 22, 2017

GBT Realty Buys 234,124 SF Shopping Center in Tuscaloosa

TUSCALOOSA, ALA. — GBT Realty Corp. has purchased McFarland Plaza, a 234,124-square-foot shopping center in Tuscaloosa. Jim Hamilton, Richard Reid, Mike Allison and Brad Buchanan of HFF represented the seller, a partnership between DDR Corp. and TH Real Estate. Bill Fishel and Matthew Stewart of HFF secured a three-year, floating-rate loan through Värde Partners on behalf of the new owner. T.J. Maxx, Ross Dress for Less, Michaels and Stein Mart anchor the center. McFarland Plaza Shopping..

September 22, 2017

InvenTrust Properties Acquires Grocery-Anchored Center in San Fernando Valley for $115M

LOS ANGELES — InvenTrust Properties Corp. has purchased River Oaks, a grocery-anchored retail center located in the San Fernando Valley submarket of Los Angeles. An undisclosed seller sold the property for $115 million. Target, Sprouts, buybuyBaby, ULTA, Total Women Gym & Spa, Pier 1 Imports and Big 5 Sporting Goods occupy the 275,000-square-foot retail center.

September 22, 2017

Progressive Closes Three New Leases for Perris Marketplace in Perris

PERRIS, CALIF. — Progressive Real Estate Partners has closed three new leases at Perris Marketplace, located at 1700 N. Perris Blvd. in Perris, bringing the retail center to 100 percent leased. Baskin Robbins, Jamba Juice and Daniel’s Jewelers have signed leases at the 225,000-square-foot retail center, which Walmart Supercenter anchors. Additional tenants at the center include Starbucks Coffee, Popeye’s, Pieology, Chipotle, Yogurtland, Dickey’s Barbecue, America’s Best Contacts..

September 22, 2017

Pacific Coast Commercial Arranges 12,440 SF Retail Lease in La Jolla

SAN DIEGO — Pacific Coast Commercial has arranged a retail lease for San Diego-based Furniture & Accessory Retail Group at 8650 Villa La Jolla Drive in La Jolla. The company will open a Bassett Home Furnishings location at the 12,440-square-foot space at La Jolla Square. Total consideration of the lease is $3.9 million. Shirley Kanamu of Pacific Coast Commercial represented the tenant, while Reg Kobzi of CBRE represented the landlord, Florida-based 8650 Villa La Jolla Inc., in the..

September 22, 2017