Property Type

Lidl US to Acquire 27 Best Market Stores in New York, New Jersey

by David Cohen November 20, 2018

NEW YORK AND NEW JERSEY — Supermarket chains Lidl US and Best Market have announced an agreement in which Lidl will acquire 27 Best Market stores in New York and New Jersey. Beginning next year, the German discount retailer will convert the Best Market stores to the Lidl brand. The process will involve the remodeling, reinvestment and reflagging of Best Market locations as Lidl stores. Best Market is a privately owned fruit and grocery store chain headquartered in Bethpage, New York. Of the 27 Best Market locations, 24 are located in Long Island, two are located in New York City and one is located in New Jersey. The terms of the acquisition are undisclosed, and it is expected to close in the first quarter of 2019.

November 20, 2018

Massachusetts Northeast Retail

HFF Arranges $33M Refinancing for Retail Center in Beverly, Massachusetts

by David Cohen November 20, 2018

BEVERLY, MASS. — HFF has arranged a $33 million loan to refinance North Beverly Plaza, a 197,471-square-foot, grocery-anchored retail center in Beverly, approximately 26 miles north of Boston. Located at 55 Dodge St., the property is anchored by a 65,000-square-foot Shaw’s supermarket and features a tenant roster that includes CVS, People’s United Bank, Staples and Chipotle. Greg LaBine and Amy Lousararian of HFF secured the long-term, fixed-rate loan on behalf of the borrower, North Beverly Plaza LLC, an entity of Mugar Enterprises. The lender was TD Bank.

November 20, 2018

Loans Multifamily New York Northeast

NKF Secures $23.5M Refinancing for Apartment Property in Manhattan

by David Cohen November 20, 2018

NEW YORK CITY — Newmark Knight Frank has secured a $23.5 million loan to refinance a multifamily property in Manhattan. Located at 16 E. 18th St., the 10-story property includes eight full-floor units as well as ground-floor retail space occupied by Paragon Sports. Dustin Stolly, Jordan Roeschlaub, Daniel Fromm and Josh Egert of NKF secured the financing on behalf of real estate investment firm Stone Street Properties. The lender was undisclosed.

November 20, 2018

Acquisitions Multifamily New York Northeast

AMS Acquisitions Purchases Multifamily Development Site in Yonkers for $18.3M

by David Cohen November 20, 2018

YONKERS, N.Y. — AMS Acquisitions has purchased a 50,000-square-foot development site in Yonkers for $18.3 million. The property is located at 55 Buena Vista Ave. AMS plans to build a 400,000-square-foot, 24-story, 361-unit residential building at the site, which is the former Teutonia Music Hall. AMS acquired the property from seller Kohl Construction. The AMS portfolio includes approximately two million square feet of retail, residential and office space in the tri-state region.

November 20, 2018

Acquisitions Industrial New York Northeast

Cushman & Wakefield Brokers $4.5M Sale of Warehouse in Queens

by David Cohen November 20, 2018

NEW YORK CITY — Cushman & Wakefield has brokered the $4.5 million sale of a 10,000-square-foot warehouse in the Astoria neighborhood of Queens. Located at 19-57 Steinway St., the single-story property features 16-foot ceiling heights and four drive-in gates. A month-to-month tenant currently occupies the warehouse. Stephen R. Preuss of Cushman & Wakefield represented the seller, 19-57 Steinway ST RTY CP, in the transaction. The buyer was J&N Development.

November 20, 2018

Development Mixed-Use Texas

Convexity Properties to Develop 590,000 SF Mixed-Use Project in Dallas’ Highland Park

by Taylor Williams November 20, 2018

DALLAS — Convexity Properties, a subsidiary of Chicago-based trading firm DRW, will develop The Crossing, an eight-acre mixed-use project in Dallas. The Crossing will be located near the Mockingbird Station mixed-use development in the Highland Park area. The project will feature 90,000 square feet of street-level retail and restaurant space, as well as 500,000 square feet of multifamily space, which according to The Dallas Morning News equates to 330 units. Part of the project entails improving an existing eight-story, 225,000-square-foot office building. A timeline for construction has not yet been established.

November 20, 2018

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Brokers Sale of 29,900 SF Industrial Property in Dallas

by Taylor Williams November 20, 2018

DALLAS — Lee & Associates has brokered the sale of a 29,900-square-foot industrial property located at 10930 Petal St. in northeast Dallas. According to LoopNet Inc., the single-tenant property was built in 2003. Brett Lewis, Taylor Stell and George Tanghongs of Lee & Associates represented the seller in the transaction. Scott Axelrod of Henry S. Miller represented the buyer. Both parties requested anonymity.

November 20, 2018

Acquisitions Retail Texas

EDGE Realty Negotiates Purchase of 14,230 SF Retail Center in Houston

by Taylor Williams November 20, 2018

HOUSTON — EDGE Realty Capital Markets has negotiated the purchase of Harrisburg Retail Center, a 14,230-square-foot asset located at 7011 Harrisburg Blvd. in the East Downtown submarket of Houston. Turimex Internacional, one of the largest transportation companies in Mexico and the United States, anchors the property. Burdette Huffman and Josh Jacobs of EDGE Realty represented the undisclosed seller in the transaction. Mark Kalil of Mark Kalil & Associates represented the buyer.

November 20, 2018

Acquisitions Retail Texas

Retail Solutions Arranges Sale of 13,905 SF Former Walgreens in Houston

by Taylor Williams November 20, 2018

HOUSTON — Retail Solutions has arranged the sale of a 13,905-square-foot retail property in Houston formerly leased to Walgreens. The store, which was built in 1999, is located at 11220 Louetta Road on the city’s northwest side. Amandeep Singh of Retail Solutions represented the seller. Saqib Ali of Texas Real Estate Group represented the buyer. Other terms of sale were not disclosed.

November 20, 2018

Healthcare Leasing Activity Texas

Next Level Urgent Care Opens 3,008 SF Clinic in Metro Houston

by Taylor Williams November 20, 2018

KATY, TEXAS — Next Level Urgent Care has opened a 3,008-square-foot clinic at Y Shops Katy Fort Bend, a shopping center on the western outskirts of Houston in Katy. Ryan Dierker and Tuan Nguyen of Newcor Commercial Real Estate represented Next Level Urgent Care in the lease negotiations. David Wise with Streetwise Advisors represented the landlord, Colonial Entrepreneurs LLC.

November 20, 2018

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