HOOVER, ALA. — Cypress Gardens Apartments, a 150-unit apartment community built in 1972 and renovated in 2011, has traded for $5 million in Hoover. David Oakley in the Alabama office of Hendricks & Partners represented Birmingham, Ala.-based Georgetown Investments LLC, which sold the multifamily property to Florida-based Cypress United LLC.
CORAL SPRINGS, FLA. — Cypress Wood Plaza, a 41,908-square-foot retail center at 10412 W. Atlantic Blvd. in Coral Springs, has sold for $4.25 million. The property includes two retail buildings and a 7,000-square-foot out parcel. It is 80 percent occupied with local and regional tenants including VCA Animal Hospital, Bike America and Martinizing Dry Cleaners. Robert Granda and Douglas Mandel of Marcus & Millichap’s Fort Lauderdale, Fla. office represented the seller, a Coral Springs-based private investor.
BINGHAM FARMS, MICH. — Versa Development is constructing a 9,000-square-foot retail property in the parking lot of the company's Bingham Office Center, located at Telegraph Road and 13 Mile Road in Bingham Farms. The development will include three fast-casual restaurants: DiBella's Old Fashioned Submarines, Qdoba Mexican Grill and a restaurant that is yet to be announced. Due to the lack of restaurants in the area, Versa expects the development will attract office tenants and the general public. Versa is partnering with Farbman Group and the Village of Bingham Farms on the project. The complex is expected to open this winter.
KENOSHA, WIS. — NorthMarq Capital has arranged a $14.5 million Freddie Mac loan for the refinancing of Shagbark Apartments, a 460-unit apartment community in Kenosha. Sue Blumberg of NorthMarq arranged the 10-year loan amortized over 30 years on behalf of the borrower, Shagbark Apartments LLC.
WESTMONT, ILL. — Fresh Enterprises has opened a new Canyons Burger Co. restaurant at 243 W. 63rd St., inside the Westmont Yard Indoor Sports complex in Westmont. The new 2,500-square-foot restaurant is locally owned and operated by Westmont Yard Sports Complex owner, William Gust. The restaurant will celebrate its grand opening with “Kids in Uniform Eat Free” on weekends in October.
NEW BERLIN, WIS. — Fannie May Chocolates has signed a 1,398-square-foot lease at Moorland Square Shopping Center in New Berlin. Joe Kleiman of Mid-America Real Estate-Wisconsin represented Fannie May in the transaction. The property owner, Brixmor Property Group, was represented in-house by Dana Meadowcraft.
PORT WASHINGTON, N.Y. — A joint venture between Vastgood Properties and a fund managed by Prudential Real Estate Investors has acquired a portfolio of seven supermarket-anchored shopping centers for $104 million. The seller was Cedar Realty Trust Partnership. The properties total 561,000 square feet and six are anchored by Giant Food stores, with one anchored by Nell's Supermarket. The properties include: Aston Center in Aston, Pa.; Ayr Town Center in McConnellsburg, Pa.; Parkway Plaza in Mechanicsburg, Pa.; Pennsboro Commons in Pennsboro, Pa.; Scott Town Center in Bloomsburg, Pa.; Spring Meadow Shopping Center in Reading, Pa.; and Stonehedge Square in Carlisle, Pa. The properties are more than 95 percent occupied.
NEW YORK CITY — Premier Equities has acquired a retail condominium at 57-63 Greene St. in Manhattan's SoHo neighborhood for $17 million. The property is fully occupied by Cyrus Co. and Raul Carasso, two home furnishing companies, and Bang & Olufsen, the global audio systems retailer. A 53,725-square-foot loft building is located atop the retail space, which is scheduled for a condominium conversion. Peter Hauspurg, David Schechtman, Lipa Lieberman, Marion Jones and Gary Meese represented the seller, Aion Partners, in the transaction.
NEW YORK CITY — Johnson Capital and Better Commercial Mortgage have arranged a $9.5 million loan for the 128-room Wyndham Garden Hotel in the Long Island City section of Queens. The debt will be used to refinance an existing land and bridge loan. A Queens-based developer opened the select-service hotel in May, which is located at 44-29 9th St. Daniel Lisser of Johnson Capital and Better Commercial Mortgage jointly arranged the three-year loan through Hall Structured Finance, a private direct lender.
ST. CLAIR AND CRANBERRY TOWNSHIP, PA. — Dick's Sporting Goods is opening two news store in Pennsylvania today. The stores have opened at South Hills Village Mall, located at 301 South Hills Village Drive in Upper St. Clair, and Cranberry Crossing, located at 2021 Mackenzie Way in Cranberry Township. Additionally, a ribbon cutting ceremony will be held Friday, Oct. 19. At the Cranberry Township store, Friday's appearances will include Pittsburgh Steelers linebacker Larry Foote and University of Pittsburgh men's basketball coach Jamie Dixon. At the St. Clair store, Pittsburgh Steelers wide receiver Emmanuel Sanders and Pittsburgh Steeler Jerome Bettis will be present this Friday.