Puttshack to Open 26,000 SF Entertainment Venue in Philadelphia

PHILADELPHIA — Puttshack, an entertainment concept that combines mini golf with food and beverages, will open a 26,000-square-foot entertainment venue in Philadelphia. The facility will be located within The Shops at Liberty Place in the Center City district and will house four tech-driven courses, two bars and private event space. The opening is slated for summer 2023. Metropolis Investment Holdings Inc. owns the property. Puttshack currently operates facilities in Atlanta and Chicago and …

May 23, 2022Leasing Activity, Northeast, Pennsylvania, Retail

JLL Arranges $54M Loan for Refinancing of Retail Portfolio in Denver, Fort Collins Areas

ARVADA, AURORA, DENVER AND FORT COLLINS, COLO. — JLL has arranged a $54 million loan for the refinancing of a four-property, 436,055-square-foot retail portfolio in Denver and Fort Collins. The borrower is Denver-based Gart Properties.Eric Tupler of JLL placed the 10-year, fixed-rate loan with an undisclosed life insurance company. Gart used the proceeds from the nonrecourse loan to retire existing debt and to realize significant value that has been created through the renovation and …

May 20, 2022Colorado, Loans, Retail, Western

Aztec Group Arranges $81M Construction-to-Perm Loan for Metro Miami Mixed-Use Development

HIALEAH, FLA. — Aztec Group has arranged an $81 million construction-to-perm loan for the development of Residences and Shoppes of Highland, a mixed-use development underway in the Miami suburb of Hialeah. The developer/borrower is an affiliate of South Florida-based Dacar Management, a development firm led by Alberto Micha. An affiliate of New York Life Insurance Co. provided the non-recourse, fixed-rate loan, which has an initial three-year term and converts to a 27-year self-amortizing …

May 20, 2022Development, Florida, Loans, Mixed-Use, Multifamily, Retail, Southeast

Woodmont, Criterion Fund Acquire 144,638 SF Shopping Center in Slidell, Louisiana

SLIDELL, LA. — A partnership between The Woodmont Co. and The Criterion Fund has acquired Village at Northshore, a 144,638-square-foot shopping center located at 105-115 Northshore Blvd. in Slidell. The sales price was not disclosed. Situated adjacent to I-12, the property was developed in 1988 and renovated in 2020. The retail center’s tenant roster includes Marshalls, JoAnn’s, Ollie’s Bargain Outlet, Boot Barn and Dollar Tree. Shadow anchors include Walmart Supercenter, Sam’s Club, …

May 20, 2022Acquisitions, Louisiana, Retail, Southeast

Walgreens Acquires Single-Tenant Retail Store in Whiteville, North Carolina for $5M

WHITEVILLE, N.C. — Walgreens Boots Alliance has purchased one of its stores in Whiteville, a town equidistant from coastal markets Myrtle Beach, S.C., and Wilmington, N.C. Located at 803 N. JK Powell Blvd., the 14,820-square-foot property sold for approximately $5 million. According to brokerage firm Newmark, the drug store retail giant exercised its right of first refusal in purchasing the store, which has 10.1 years remaining on its triple-net lease. Walgreens signed the 25-year lease at …

May 20, 2022Acquisitions, North Carolina, Retail, Southeast

SHOP Cos. Arranges Sale of 17,740 Retail Center in McKinney, Texas

MCKINNEY, TEXAS — Dallas-based brokerage firm SHOP Cos. has arranged the sale of Custer Village, a 17,740-square-foot retail center located in the northern Dallas suburb of McKinney. The center was fully leased at the time of sale to tenants such as Original ChopShop, Clarity Eye Care, PetBar and YogaSix. Tim Axilrod of SHOP Cos. represented the seller, a locally based limited liability company, in the transaction. CoSol Commercial Real Estate represented the undisclosed, California-based …

May 20, 2022Acquisitions, Retail, Texas

FNRP Acquires 227,000 SF Eagle Plaza Shopping Center in Voorhees, New Jersey

VOORHEES, N.J. — New Jersey-based First National Realty Partners (FNRP) has acquired Eagle Plaza, a 227,000-square-foot shopping center in Voorhees, located in the southern part of the Garden State. A 66,500-square-foot Acme grocery store anchors the center. Other tenants include Ross Dress for Less, Wine Warehouse, Mattress Firm, T-Mobile, Chipotle, H&R Block, Allstate, Sherwin Williams and South Jersey Federal Credit Union. Brad Nathanson of Institutional Property Advisors, a division …

May 20, 2022Acquisitions, New Jersey, Northeast, Retail

JLL Brokers $15.1M Sale of Grocery-Anchored Retail Center in Wisconsin

SAINT FRANCIS, WIS. — JLL Capital Markets has brokered the $15.1 million sale of Whitnall Square in Saint Francis, just south of Milwaukee. Pick ’N Save anchors the 133,421-square-foot shopping center, which was constructed between 1989 and 1991. Other tenants include Petco, Planet Fitness, Harbor Freight Tools, Metro PCS, Dollar Tree, Subway, H&R Block, Bangkok House Restaurant, Hariport, Papa Murphy’s Pizza and P.T. Nails. The center is 96 percent leased. Amy Sands, Clinton …

May 20, 2022Acquisitions, Midwest, Retail, Wisconsin

Maverick Commercial Arranges $14M in Permanent Financing for Home Depot-Occupied Property in Chicago

CHICAGO — Maverick Commercial Mortgage Inc. has arranged a $14 million first mortgage loan for a 103,550-square-foot retail property occupied by Home Depot in Chicago’s Chatham neighborhood. Earlier this year, Home Depot signed a new 10-year lease with MG Development LP for the property, which is located at 200 W. 87th St. and includes an exterior garden center. A regional bank provided the 10-year, floating-rate loan, which features a 25-year amortization schedule. Proceeds from the loan …

May 20, 2022Illinois, Loans, Midwest, Retail

Mixed-Use Owners in Northeast Face Retail Tenancy Dilemma

By Taylor WilliamsAs the pandemic recedes from the minds and wallets of American consumers, the food and beverage (F&B) industry finds itself embroiled in a host of new financial problems, driven this time by pure economics rather than public health.Inflation and supply chain disruption are working both in tandem and within independent channels to bring new hardships to the sector, mainly in the form of elevated costs and delayed timelines for operating and expanding restaurants of …

May 20, 2022Market Reports, Northeast, Northeast Market Reports, Restaurant, Retail

Puttshack to Open 26,000 SF Entertainment Venue in Philadelphia

JLL Arranges $54M Loan for Refinancing of Retail Portfolio in Denver, Fort Collins Areas

Aztec Group Arranges $81M Construction-to-Perm Loan for Metro Miami Mixed-Use Development

Woodmont, Criterion Fund Acquire 144,638 SF Shopping Center in Slidell, Louisiana

Walgreens Acquires Single-Tenant Retail Store in Whiteville, North Carolina for $5M

SHOP Cos. Arranges Sale of 17,740 Retail Center in McKinney, Texas

FNRP Acquires 227,000 SF Eagle Plaza Shopping Center in Voorhees, New Jersey

JLL Brokers $15.1M Sale of Grocery-Anchored Retail Center in Wisconsin

Maverick Commercial Arranges $14M in Permanent Financing for Home Depot-Occupied Property in Chicago

Mixed-Use Owners in Northeast Face Retail Tenancy Dilemma

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