Property Type

InvenTrust to Redevelop 231,058 SF Gateway Market Center in Tampa Bay Area

by Julia Sanders May 5, 2021

ST. PETERSBURG, FLA. — InvenTrust Properties Corp. will redevelop Gateway Market Center, a 231,058-square-foot shopping center in the Tampa Bay area anchored by Target and Publix. The property is located at 7751-8229 9th St. N in St. Petersburg. Construction is scheduled to begin in the first quarter of 2022 with the renovation taking approximately 18 months to complete. InvenTrust’s improvements to Gateway Market Center will include the demolition of approximately 60,000 square feet of existing building area and the construction of several new buildings. Two new anchor-sized buildings will be developed at the center while three new buildings for small shop tenants and restaurants will also be added. Two outparcel buildings will have large sidewalks and an outdoor seating area. Smaller shop spaces will be able to accommodate tenants of varying sizes, up to 10,000 square feet. Gateway Market Center is located in north St. Petersburg with access to U.S. Highway 92. Matt Hagan and Kara Morabito of InvenTrust will oversee leasing at Gateway Market Center.

May 5, 2021

Development Florida Leasing Activity Retail Southeast

Two Retail Tenants Open at Westshore Marina District in Tampa

by Julia Sanders May 5, 2021

TAMPA, FLA. — Two new retail tenants have opened at Westshore Marina District in Tampa. The construction of the retail portion of the 52-acre mixed-use development is currently being completed. The two new tenants are Cru Cellars and Sand Surf Co. Cru Cellars, which signed a lease in August 2019, and Sand Surf Co., which signed a lease in September 2019, are the first of several retailers that will open their doors at Marina Landings, Westshore Marina District’s 70,000-square-foot town center. Fort Lauderdale-based BTI Partners is the developer of Westshore Marina District. The 2,400-square-foot Cru Cellars wine bar and restaurant is set to open on May 10. The restaurant will serve wines-by-the-glass and cooking by executive chef Zack Sylvester. Marina Landings at Westshore Marina District is Cru Cellars’ third Tampa location. Sand Surf Co., which opened at the beginning of May, occupies 1,270 square feet of space and offers women’s and men’s apparel, as well as accessories tied to surf culture. Sand Surf Co. at Marina Landings is the store’s new flagship location and is home to many different brands, including Quicksilver/Roxy, Billabong, Duvin, Frankie’s Bikini’s, Kulani Kini’s, Maaji, Olukai, Rainbow Sandals and Lulifama. Located on Old Tampa Bay across …

May 5, 2021

Acquisitions Florida Retail Southeast

SRS Brokers $7M Sale of Shops at Surfside Center in Cape Coral, Florida

by Julia Sanders May 5, 2021

CAPE CORAL, FLA. — SRS Real Estate Partners’ Investment Properties Group has brokered the $7 million sale of Shops at Surfside Center, a 117,566-square-foot shopping center located in Cape Coral. The property is situated on 8.3 acres at 2342/2354 Surfside Blvd. at the intersection of Veterans Memorial Parkway. Built in 2007, architecture firm Cuhaci & Peterson designed the Shops at Surfside Center and Hawkins Construction built the property. The center was 100 percent leased at the time of sale to Belk, Anytime Fitness, SalonPlex and Humana. The seller, a private service entity, sold the property to Patagonian Holdings LLC. Kevin Yaryan, Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction. The buyer was self-represented.

May 5, 2021

Development Midwest Ohio Retail

FC Cincinnati Opens 26,000-Seat TQL Stadium in Downtown Cincinnati

by Kristin Harlow May 5, 2021

CINCINNATI — Cincinnati’s Major League Soccer team, FC Cincinnati, has opened Total Quality Logistics (TQL) Stadium in downtown Cincinnati. Designed by global design firm Populous, the 26,000-seat venue sits on 12.4 acres at 1501 Central Parkway between the Over-the-Rhine and West End neighborhoods. The stadium features a LED video display system on its exterior. The $250 million stadium was privately funded, according to The Cincinnati Enquirer. Turner Construction served as the general contractor. The first home game is scheduled to take place Sunday, May 16. FC Cincinnati played in the second-division United Soccer League from 2016 to 2018 before joining Major League Soccer in 2019.

May 5, 2021

Development Illinois Industrial Midwest

Peak Construction to Build 351,870 SF Spec Industrial Building in Romeoville, Illinois

by Kristin Harlow May 5, 2021

ROMEOVILLE, ILL. — IDI Logistics has selected Peak Construction Corp. to build Gateway Romeoville Building A, a 351,870-square-foot speculative industrial building in Romeoville. The project will be situated on 19 acres between Route 53 and Joliet Road. Plans call for a clear height of 36 feet, 41 dock doors, two drive-in doors, 96 trailer stalls and 285 car stalls. Completion is slated for January 2022. The project team includes Macgregor Associates Architects and civil engineer Jacob & Hefner Associates.

May 5, 2021

Loans Lument Midwest Multifamily Ohio

Lument Provides $12.9M Acquisition Loan for Multifamily Community in Dayton, Ohio

by Kristin Harlow May 5, 2021

DAYTON, OHIO — Lument has provided a $12.9 million Fannie Mae loan for the acquisition of The Landing Apartments in Dayton. The multifamily community includes 166 units across several buildings. A high-rise building was originally developed in 1929 and townhouse-style buildings were added in 1991. Approximately 60 percent of the units are affordable to renters who earn 80 percent of the area median income. Steven Cox of Lument originated the 10-year loan, which features three years of interest-only payments and a 30-year amortization schedule. In addition to providing acquisition financing, the loan provides for approximately $145,000 for roofing, landscaping and other repairs. John Dragone and Chris Senzapaura of Trinity Street Capital arranged the loan.

May 5, 2021

Acquisitions Michigan Midwest Retail

Bradley Co. Brokers Sale of 37,375 SF Retail Center Near Grand Rapids

by Kristin Harlow May 5, 2021

KENTWOOD, MICH. — Bradley Co. has brokered the sale of Ridgemoor Center in Kentwood, just south of Grand Rapids. The sales price was undisclosed. The 37,375-square-foot retail center is located at 2889 28th St. Jeff Tucker and Drew Nelson of Bradley represented the seller, GLC/Grand River Retail. The buyer, L. Walt & Associates LLC, plans to make property improvements.

May 5, 2021

Leasing Activity Michigan Midwest Retail

D’Portier Beauty Leases 1,500 SF at Shopping Center in West Bloomfield, Michigan

by Kristin Harlow May 5, 2021

WEST BLOOMFIELD, MICH. — D’Portier Beauty has leased 1,500 square feet at The Boardwalk, a shopping center located near the intersection of Orchard Lake and Maple roads in West Bloomfield, about 27 miles northwest of Detroit. The beauty retailer is taking space formerly occupied by Frenchie’s Modern Nail Care. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, Beztak Properties. Garnett Davis of Re/max represented the tenant.

May 5, 2021

Acquisitions Georgia Mixed-Use Retail Southeast

Madison Capital Group Acquires Two Vacant Sears Boxes in Savannah and Boise, Plans Mixed-Use Developments

by Julia Sanders May 5, 2021

BOISE, IDAHO AND SAVANNAH, GA. — Madison Capital Group LLC has acquired two vacant Sears boxes located adjacent to active shopping malls, the Boise Town Square in Boise and the Oglethorpe Mall in Savannah. The seller and sales price were not disclosed. Madison Capital Group plans to redevelop each box into a mixed-use development that could include residential housing and retail. Madison Capital Group is based in Charlotte and focuses on investing in multifamily and self-storage properties.

May 5, 2021

California Development Office Western

Bain Capital, BARDAS Plan $450M Echelon Studios in Hollywood

by Amy Works May 5, 2021

LOS ANGELES — Bain Capital Real Estate, the real estate investing business of Bain Capital, and BARDAS Investment Group, a boutique real estate development and investment firm, have submitted plans to the City of Los Angeles for the development of Echelon Studios. The five-acre site is located at 5601 Santa Monica Blvd. in Los Angeles’ Hollywood neighborhood. The $450 million urban studio campus will feature four 19,000-square-foot sound stages, a 15,000-square-foot flex stage and a 90,000-square-foot creative village of high-end bungalows. Additionally, the project will include 350,000 square feet of creative office space spread across two mid-rise office buildings. Campus amenities will include food and beverage, a central courtyard, shared specialized production space and collaboration areas, as well as outdoor decks, patios and other exterior common areas to maximize available square footage and create filming and event space. In conjunction with the development plans, the partnership announced the launch of Echelon, the real estate industry’s first dedicated content media real estate platform. The new platform will serve as the brand for the joint venture’s investments.

May 5, 2021

Newer Posts

Older Posts