Property Type

CBRE Negotiates Four New Leases at Queen City Quarter Mixed-Use Redevelopment in Uptown Charlotte

by John Nelson March 23, 2023

CHARLOTTE, N.C. — CBRE has arranged four new leases for retailers and restaurants to join Queen City Quarter, a mixed-use redevelopment of the former EpiCentre property in Uptown Charlotte. The multi-level, 302,324-square-foot development is located along College Street and houses World of Beer, Mortimer’s Café & Pub and Bowlero, all of which recently renewed their leases. The new tenants joining Queen City Quarter’s tenant roster include Portal 123, a rotating Instagram museum and immersive art experience; Nostalgia Hollow Co., a locally based coffeeshop and home goods retailer; Cajun Market, a fast-casual Cajun-Creole restaurant; and Super Icy Brothers, a frozen dessert shop. All four concepts plan to open in the second or third quarter. Kaitlyn Fitch, Kivett Williams and Katherine Southard of CBRE handled the lease negotiations on behalf of the landlord, an entity doing business as 210 East Trade Street Holdings LLC. In addition to the leases, CBRE will begin the previously announced renovations and improvements to the property in late spring. Most of the work will be in the property’s 15,462-square-foot plaza and include replacing the pavers along the walkways and installing benches with planters in the main common area. The building’s interior façades on all levels, in addition to …

March 23, 2023

Acquisitions Georgia Retail Southeast

Richmar Properties Sells Covington Square Shopping Center in Metro Atlanta for $13.4M

by John Nelson March 23, 2023

LITHONIA, GA. — Michigan-based Richmar Properties has sold Covington Square, a 144,585-square-foot shopping center in the east Atlanta suburb of Lithonia. Malls-Etc. purchased the property for $13.4 million. Craig Taylor of CBRE represented the seller in the transaction. Built in 1989 at 6152 Covington Highway, Covington Square was renovated in 2021 and was 85 percent leased at the time of sale to tenants such as Planet Fitness, Rainbow Shops, City Gear, Beauty and More, Las Colinas Restaurant and 3D Church.

March 23, 2023

Leasing Activity New York Northeast Retail

Whole Foods to Open 50,000 SF Store Near Rochester on April 12

by Taylor Williams March 23, 2023

BRIGHTON, N.Y. — Whole Foods Market will open a 50,000-square-foot store in the upstate New York community of Brighton on April 12. The location at 2740 Monroe Ave. will be the first in the Rochester area for the Texas-based grocer. The store will offer more than 500 locally sourced items and will feature full-service meat and seafood counters, a bakery, prepared foods section, a selection of more than 200 craft beers.

March 23, 2023

Acquisitions Florida Retail Southeast

Franklin Street Arranges $7.3M Sale of Metro Miami Store Leased to CVS

by John Nelson March 23, 2023

DORAL, FLA. — Franklin Street has arranged the $7.3 million sale of a 14,900-square-foot, single-tenant retail store located at 3750 NW 87th Ave. in Doral, a suburb of Miami. The property was triple-net leased to CVS. Greg Matus, Adam Tiktin and Alex Lazo of Franklin Street, along with Norman Matus of Red Rock Realty, represented the seller, Illinois-based Curfin Property US Inc. Florida-based Goldenberg Investment Group Inc. purchased the property, which was built in 2016.

March 23, 2023

Acquisitions Maryland Mixed-Use Southeast

Harbor Stone Brokers $5M Sale of Historic Mixed-Use Property in Baltimore

by John Nelson March 23, 2023

BALTIMORE — Harbor Stone Advisors has brokered the $5 million sale of Astor Court, a mixed-use property located at 2440 St. Paul St. in Baltimore’s Old Goucher neighborhood. Built in 1930 and renovated in 2006, the property features 26 one-bedroom apartments, 10 two-bedroom units and four commercial spaces on the ground level leased to Subway, State of the Art Hair Studio, Maryland Healthcare Clinics and Charles Village Community Benefits District. Community amenities include controlled building access, an elevator, 24-hour fitness center, community multipurpose room with kitchen, shared workspace, private courtyard, bicycle storage and a laundry facility. A small parking lot adjacent to Astor Court was included in the sale. Justin Verner, Brooks Healy and Tom Wohlgemuth of Harbor Stone represented the seller, an entity doing business as Astor Court LLC that is led by investor Michael Rock, in the transaction. The buyer was not disclosed.

March 23, 2023

Acquisitions New Jersey Northeast Retail

Marcus & Millichap Brokers $7M Sale of Northern New Jersey Retail Strip Center

by Taylor Williams March 23, 2023

SHORT HILLS, N.J. — Marcus & Millichap has brokered the $7 million sale of a 10,070-square-foot retail strip center in the Northern New Jersey community of Short Hills. Morris Turnpike Strip Center was built in 1959 and is home to tenants such as T-Mobile, Mattress Firm and Alpha Fit Club. Alan Cafiero, David Cafiero and Dean Matuszewicz of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were regionally based limited liability companies that requested anonymity.

March 23, 2023

Acquisitions New York Northeast Retail

RFR, Waterfall Asset Management Acquire 33,000 SF Retail Condo in Manhattan

by Taylor Williams March 23, 2023

NEW YORK CITY — A partnership between two locally based investment firms, RFR and Waterfall Asset Management, has acquired a 33,000-square-foot retail condo located at 2139–2159 Broadway in Manhattan. The space comprises seven suites, several of which are currently vacant, and is situated within The Astor residential building on the Upper West Side. The seller and sales price were not disclosed.

March 23, 2023

Development Illinois Midwest Multifamily

Finger Cos. Opens 373-Unit Luxury Apartment Complex in Schaumburg, Illinois

by Kristin Harlow March 23, 2023

SCHAUMBURG, ILL. — The Finger Cos. has opened The Quin, a luxury apartment complex rising four stories with 373 units in the Chicago suburb of Schaumburg. Located at 2450 Plum Grove Road, the property offers floor plans ranging from 691 to 1,394 square feet. All floor plans include private balconies, with some offering dens for home offices or storage. Monthly rents start at $1,950. Amenities include resident lounges, a golf simulator room, fitness center, business center, pet grooming room, package room, landscaped green space and two outdoor pools.

March 23, 2023

Leasing Activity Midwest Missouri Office

Hoefer Welker to Relocate Headquarters to Kansas City’s Country Club Plaza

by Kristin Harlow March 23, 2023

KANSAS CITY, MO. — Architecture and design firm Hoefer Welker is relocating its corporate headquarters to 46 Penn Centre within the Country Club Plaza in Kansas City. The firm expects to take occupancy of its self-designed, 26,229-square-foot office on the 14th floor in June. Hoefer Welker also served as architect for 46 Penn Centre, which was completed in 2020. Hoefer Welker’s new office will include a living room, kitchen, two cafes, a terrace, design lab and multiple collaborative areas and conferencing spaces. The design firm spent the past 13 years at its current Leawood, Kan., headquarters. Prior to that, Hoefer Welker maintained an office at Country Club Plaza. Block Real Estate Services owns 46 Penn Centre, which rises 15 stories.

March 23, 2023

Leasing Activity Midwest Missouri Retail

CBL Welcomes New Retailers at West County Center in St. Louis

by Kristin Harlow March 23, 2023

ST. LOUIS — CBL & Associates Properties Inc. has unveiled the names of the retailers opening this spring and summer at West County Center in St. Louis. ALDO, a men’s and women’s footwear company with a French fashion perspective, will open on the first level near Nordstrom in April. The Back Store, which sells mattresses, pillows and accessories, will also open on the first floor in April. Da Picky Vegan, which offers a wide variety of vegetarian and vegan menu items, will open in the food court on the second level in April. Outdoor retailer Gearhead Outfitters will open on the first floor between Nordstrom and Macy’s this summer. Golden Gems, a lifestyle brand that designs and sells accessories, apparel, stationery goods and home décor, will open near Macy’s in April. Love Sac, which opened last year in the common area on level two, is opening a new store on the first floor near Nordstrom this summer. Offline by aerie, which sells activewear, will open near Nordstrom this summer.

March 23, 2023

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