HORSEHEADS, N.Y. — New York-based investment firm United Properties Corp. has purchased Southern Tier Crossing, an 84,000-square-foot shopping center in Horseheads, located in the southern-central part of the state. The sales price was $13.5 million. According to information on the website of Nashville-based brokerage firm Matthews, the center was built in 2008 and is home to tenants such as Burlington, PetSmart, ULTA and Five Below. The seller was not disclosed.
SCOTTSDALE, ARIZ. — CBRE has arranged a $45.8 million loan for the refinancing of Scottsdale Towne Center, a retail center located at 15444 N. Frank Lloyd Wright Blvd. Shaun Moothart, Bruce Francis, Doug Birrell, Bob Ybarra and Nick Santangelo with CBRE Capital Markets’ Debt and Structured Finance secured the five-year interest-only, fixed-rate loan on behalf of the undisclosed owner. The 168,090-square-foot retail center was nearly 100 percent leased at the time of the loan closing, with current tenants including T.J. Maxx, Ross Dress for Less and Mountainside Fitness. Additionally, the property is shadow-anchored by Target. The sponsor acquired Scottsdale Towne Center in 2021 and subsequently leased a previously vacant 50,000-square-foot space to Mountainside Fitness’ for a flagship location.
HONOLULU — GGP has signed leases with four new tenants at Ala Moana Center, a 2.4 million-square-foot open-air center located in Honolulu. Kaikoa Gallery, NARA and POP MART are set to open this month. Kids City Adventure will join previously announced tenants BB Wellness and Molly Tea, which are all scheduled to open in October. Recently opened tenants at the center include Ali‘i Coffee Company, gorjana, Lume Harmony, MINISO and Studs. Crocs will also reopen at the center in September, and Tiffany & Co. will relocate temporarily while its permanent location undergoes renovation. Originally opened in 1959, Ala Moana Center features more than 350 stores and restaurants and is anchored by Bloomingdale’s, Neiman Marcus, Nordstrom, Macy’s and Target.
NEW YORK CITY — Local brokerage firm TerraCRG has arranged the $8.6 million sale of a multi-level retail building in the Williamsburg area of Brooklyn. The building at 76 Ainslie St., which according to LoopNet Inc. was constructed in 1974, totals 9,084 square feet across three levels. Daniel Lebor, Dan Marks and Thomas Horrigan of TerraCRG brokered the deal. The buyer and seller were not disclosed.
WHITESTOWN, IND. — JLL Capital Markets has negotiated the sale of Subaru at Park 267, a 1.1 million-square-foot distribution facility in the Indianapolis suburb of Whitestown. John Huguenard, Ed Halaburt, Ross Bratcher and Cameron Chandra of JLL represented the seller, a joint venture between Prologis and Browning. LaSalle Investment Management acquired the asset. Browning’s construction division constructed the build-to-suit development in 2024. The facility is fully leased to Subaru of America Inc. and serves as the largest distribution center within its nine-facility national network. The property features a clear height of 40 feet, 108 dock-high doors, four drive-in doors, cross-dock configuration with 135 feet of truck court depth and LEED Silver certification. The site includes 342 automobile parking spaces and 100 trailer parking spaces across 69.7 acres.
OTTAWA, ILL. — Ottawa Easy Storage has opened with 200 units in its first phase. An additional 200 units is planned for future development. The facility offers a one-year rate guarantee, meaning that rental rates will not increase during a customer’s first year of storage. Sean Garrett of Columbus Development Co. developed the project. The firm also owns local shopping centers North Ottawa Plaza and Columbus Square, and has plans for additional development along East Etna Road. Blunier Builders served as general contractor. Monument provided facility management software. SafeLease and StorageDefender offerings will be available to tenants.
CHICAGO — Interra Realty has brokered the $6 million sale of 6500 N. Claremont Ave., a 32-unit apartment building in Chicago’s West Rogers Park neighborhood. Joe Smazal and Mark Dykstra of Interra represented the buyer, Claremont JV LLC, led by Ron Abrams of Silver Property Group. Smazal and Dykstra also represented the seller, a local private investor. The deal represented the highest multifamily sales price in West Rogers Park in the past three years, according to CoStar data. Originally constructed in 1929 and last renovated approximately 15 years ago, the building includes four one-bedroom and 28 two-bedroom layouts.
GRAND RAPIDS, MICH. — Marcus & Millichap has arranged the $2.1 million sale of East Paris Medical Center, a 10,011-square-foot, three-suite medical office property in Grand Rapids. Seth Haron, Ashish Vakhariya and Darin Gross of Marcus & Millichap represented the seller, a local private investor and retired physician. Located at 1155 E. Paris Ave. SE, the building is fully leased and anchored by Trinity Health Michigan.
PIKE COUNTY, OHIO — OpenAI, the artificial intelligence (AI) platform best known for ChatGPT, has signed a 20-year lease agreement to be the customer at the PORTS-Pike Technology Campus, an AI data center redevelopment of the decommissioned Portsmouth Gaseous Diffusion Plant in Pike County, located in southern Ohio’s Appalachian region. The size and cost of the campus has not been released, but The New York Times reports that it will be among the world’s largest data centers and that the build-out could cost as much as $500 billion. SB Energy, a data center and power infrastructure company backed by Tokyo-based SoftBank Group Corp., will build, own and operate the campus. Nvidia (NASDAQ: NVDA), a hardware manufacturer of semiconductors and networking systems for AI data centers, will provide the full build-out at PORTS-Pike Technology Campus using its DSX AI factory platform — encompassing all aspects typical to an AI-ready data center, including GPUs (graphics processing units), CPUs (central processing units), servers and infrastructure software. Nvidia has secured land, power and shell (LPS) rights at the Pike County project through a partnership with SB Energy. Nvidia will immediately invest $1.5 billion in SB Energy to support the project’s build-out. SB Energy and …
By Taylor Williams Ask a local retail broker or landlord to name tenants that are currently expanding aggressively in the greater Boston area and throughout New England as a whole, and odds are that “Ross Dress for Less” will come up within the first minute. Of course, the California-based discount retailer has been crushing it for some time now. Ross announced in mid-March that it had opened 17 new stores, including four under its dd’s Discounts brands, in the first quarter — openings that followed the rollout of 36 new stores last fall. According to USA Today, these new stores came as part of Ross’ broader plan to grow its store count by about 200 units over the course of 2025 and 2026. These new store openings included locations in New York and New Jersey, but at the time, that appeared to be the northbound extent of the expansion. Not surprising, given that the discount apparel market in New England has long been dominated by TJX Cos., the metro Boston-based parent company of both T.J. Maxx and Marshalls, with Burlington also routinely capturing a respectable share of that market. The fact that Boston proper was — and still is — …