Property Type

NKF Capital Markets Brokers $8.8M Sale of Retail Property in Prescott, Arizona

by Amy Works March 19, 2018

PRESCOTT, ARIZ. — NKF Capital Markets has arranged the sale of Prescott Gateway Mall, located at 3250 Gateway Blvd. in Prescott. T. Prescott AZ LLC sold the property to Prescott Gateway Mall Realty Holding for $8.8 million. Situated on 37.9 acres, the 318,503-square-foot property was approximately 75 percent occupied at the time of sale. Dillards, JCPenney, Sears, Bed Bath & Beyond, Michaels, Cost Plus World Market, Pier 1 Imports, Texas Roadhouse, Wild Flower Bread Co., Buckle, Chico’s, Maurie’s, Rue 21 and Victoria’s Secret are tenants at the mall. Thomas Dobrowski and David Guido of NKF aided the buyer and seller in the transaction.

March 19, 2018

Acquisitions Arizona Multifamily Western

Marcus & Millichap Negotiates $2.6M Sale of Apartment Building in Downtown Tempe

by Amy Works March 19, 2018

TEMPE, ARIZ. — Marcus & Millichap has arranged the sale of an apartment building located at 407-419 W. Seventh St. in Tempe. An out-of-state 1031 exchange investor acquired the property from a local limited liability company for $2.6 million, or $184,557 per unit. The property features 14 apartment units. Rich Butler of Marcus & Millichap represented the seller and buyer in the transaction.

March 19, 2018

Development District of Columbia Multifamily Property Type Southeast

Skanska USA Tops Out Apartment Tower in D.C.’s NoMa Neighborhood

by John Nelson March 19, 2018

WASHINGTON, D.C. — Skanska USA has topped out RESA, a 12-story, 326-unit apartment community located at 22 M St. in Washington, D.C.’s NoMa neighborhood. Situated 1.5 blocks from the NoMa/Gallaudet U Metro station, the apartment tower is the multifamily portion of Tyber Place, a three-building mixed-use development that will also feature 585,000 square feet of office space, 30,000 square feet of retail and restaurants and an open-air courtyard. RESA’s amenity package will include a rooftop “plunge” pool and lounge; rooftop penthouse with a catering kitchen; second-floor courtyard with grills, TV, bar and outdoor fireplace; 24-hour concierge services; resident lounges; fitness center; pet spa; bike storage; and a three-level, underground parking garage. RESA is Skanska USA’s first multifamily development in Washington, D.C.

March 19, 2018

Acquisitions Florida Georgia Property Type Retail Southeast

Publix Super Markets Buys Shopping Center Portfolio in Florida, Georgia from Madison, DDR

by John Nelson March 19, 2018

LAKELAND, FLA. — Lakeland-based Publix Super Markets has purchased a portfolio of nine Publix-anchored shopping centers from Madison International Realty and DDRM Properties, an affiliate of DDR Corp. The sales price was not disclosed. The portfolio totals 732,000 square feet, with eight shopping centers located throughout Florida and one located in McDonough, Ga. In 2017, Madison and DDR recapitalized a 52-property portfolio of grocery-anchored shopping centers that DDR Corp. previously owned with other partners for $1.05 billion. Following the nine-property sale, DDRM Properties now has 43 assets spanning 6.3 million square feet left from the original portfolio.

March 19, 2018

Florida Industrial Leasing Activity Property Type Southeast

Cushman & Wakefield Secures 257,074 SF Industrial Lease with Nestlé Waters in Miami-Dade County

by John Nelson March 19, 2018

MEDLEY, FLA. — Cushman & Wakefield has arranged a 257,074-square-foot lease with Nestlé Waters North America at Airport North Logistics Park in Medley, roughly 15 miles northwest of Miami. The master-planned logistics park totals 900,000 square feet, and the first phase of the project comprises four buildings. Nestlé Waters will occupy all of Building 3, located at 8501 N.W. 80th St. Wayne Ramoski, Gian Rodriguez and Skylar Stein of Cushman & Wakefield arrangaed the transaction on behalf of the landlord, Dallas-based L&B Realty Advisors LLP. CBRE’s Tom O’Loughlin, Marineh Dermovsesian and Larry Genet represented Nestlé Waters. The industrial park features up to 32-foot clear heights and a 190-foot concrete truck court. In addition, the park is located roughly 10 miles from Miami International Airport and 15 miles from Port Miami. Building 1 at the park is fully leased to Neutralogistics and Eco Windows.

March 19, 2018

Acquisitions North Carolina Property Type Retail Southeast

BC Wood Acquires 111,022 SF Grocery-Anchored Center in Goldsboro, North Carolina

by John Nelson March 19, 2018

GOLDSBORO, N.C. — Lexington, Ky.-based BC Wood Properties has acquired Memorial Commons, a 111,022-square-foot shopping center located at the corner of Highway 13 and Wayne Memorial Drive in Goldsboro, a city in Wayne County. Harris Teeter anchors the center, which is also home to tenants such as Office Depot, Starbucks Coffee, Anytime Fitness, Subway and Coldwell Banker. The name of the seller and the sales price were not disclosed. With this acquisition, BC Wood Properties owns and operates six shopping centers in North Carolina.

March 19, 2018

Leasing Activity Property Type Retail Southeast Virginia

Big Lots Leases 55,000 SF Anchor Space at Shopping Center in Hampton Roads Area

by John Nelson March 19, 2018

YORKTOWN, VA. — Big Lots has leased vacant anchor space totaling 55,000 square feet at Victory Village, a Hampton Roads-area shopping center formerly known as Williamsburg Marketcenter. Situated on Mooretown Road in Yorktown, the 176,000-square-foot shopping center is also leased to Ross Dress for Less, Holloway Sports and Fitness, Buzz Picasso, Uniforms Plus, Retro Daddio, One Main Financial, Dollar Tree, City Nails and Tropical Smoothie Café. Big Lots plans to open in July in the space formerly housing Ukrop’s Homestyle Foods. The Shopping Center Group’s (TSCG) Virginia office represented the landlord, Miami-based Lionheart Capital, in the lease transaction. Debra Ramey and Karen Mikulski of TSCG are the exclusive leasing agents for Victory Village.

March 19, 2018

Illinois Loans Midwest Retail

MidCap Financial Provides $18M Loan for 362,000 SF Retail Center in Aurora, Illinois

by Kristin Harlow March 19, 2018

AURORA, ILL. — MidCap Financial has provided an $18 million senior loan for the acquisition and refinancing of a 362,000-square-foot retail center in Aurora. Chicago-based Windfall Group was the borrower. Best Buy, Value City Furniture and Pier 1 Imports anchor the center, which is located north of Fox Valley Mall. Windfall plans to rename the center Pacific Square and remodel it with new restaurants and shops. Jessica Ke of Cushman & Wakefield and John Leslie of Eastern Consolidated arranged the loan.

March 19, 2018

Leasing Activity Midwest Office Ohio

Red Roof to Open New Headquarters in Ohio

by Kristin Harlow March 19, 2018

NEW ALBANY, OHIO — Red Roof has unveiled plans to open a new, 43,000-square-foot corporate headquarters in New Albany, about 15 miles northeast of Columbus. The office, located at 7815 Walton Parkway, will house 150 corporate employees. The company plans to expand its portfolio of sub-brands, including Red Roof Inn, Red Roof PLUS and The Red Collection. The St. Clair Hotel in Chicago, The Red Collection’s flagship location, is scheduled to open this year.

March 19, 2018

Acquisitions Illinois Midwest Retail

Adelphia Negotiates $2.9M Sale of Retail Building in Suburban Chicago

by Kristin Harlow March 19, 2018

GLEN ELLYN, ILL. — Adelphia Properties has negotiated the $2.9 million sale of a two-tenant retail building in Glen Ellyn, about 24 miles west of Chicago. Mattress Firm and F45 Fitness occupy the 7,006-square-foot property. Simeon Spirrison and George Spirrison represented the seller, a local developer, in the transaction. A local investor purchased the asset for 98 percent of the list price.

March 19, 2018

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