NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use building located at 219 E. 60th St. in Manhattan’s Midtown East section for $5.2 million. Vacant at the time of sale, the five-story building features retail space on the ground and second floors and open-floorplan offices on the remaining floors, which leaves options available for a residential conversion. Clint Olsen, Alex Woodlief and Will Conrad of Cushman & Wakefield represented the undisclosed seller, while Leslie Wang of Essential New York Real Estate represented the buyer, Ling Jiou Mountain Buddhist Society, in the deal.
LOS ANGELES — Casper, an online mattress retailer, has launched a multi-city retail expansion in more than a dozen locations across North America, including Los Angeles. This marks Casper’s first significant investment in a company-owned retail presence across the U.S. The new shops will showcase Casper’s offerings, including allowing shoppers to experience the mattresses, pillows and sheets. The pop-up shops are scheduled to launch in October 2017 and will be open through spring of 2018 in Los Angeles, New York, Chicago and other major metropolitan areas.
LITHIA SPRINGS, GA. — Katz Properties has acquired the Village at Westfork, a Kroger-anchored shopping center in Lithia Springs, for $11.6 million. The 75,947-square-foot property is roughly 18 miles west of Atlanta. Ladder Capital provided financing for the acquisition. The seller was not disclosed. New York-based Katz Properties is a real estate investment, development and management company that focuses on the acquisition, operation and repositioning of shopping centers on the East Coast.
CARROLLTON, TEXAS — Idaho-based grocer WinCo Foods has begun building an 82,077-square-foot store within Trinity Valley Shopping Center, a 300,000-square-foot shopping center located at the corner of State Highway 190 and Josey Lane in Carrollton. The grocery store will anchor the center and is expected to open during the first quarter of 2018. Weitzman, which handles leasing and management at Trinity Valley, is overseeing construction of the property.
NEW LENOX, ILL. — The Boulder Group has arranged the sale of a retail property net leased to three tenants in New Lenox, about 40 miles southwest of Chicago. AT&T Wireless, Papa John’s and Volver Cantina & Grill occupy the 5,362-square-foot property, located at 701-709 E. Lincoln Highway. Constructed in 2015, the building is an outparcel to the New Lenox Town Center. Randy Blankstein and John Feeney of The Boulder Group represented the seller, a West Coast-based real estate investment group. A West Coast-based real estate investor purchased the property.
OVERLAND PARK, KAN. — Block & Co. Inc. Realtors has brokered the sale of a 2,448-square-foot retail property occupied by Panda Express in Overland Park. The sales price was not disclosed. The property is located within Glenwood Plaza Shopping Center at 9090 Metcalf Ave. Other tenants at the shopping center include Walmart, TJ Maxx, Dollar Tree and Subway. Alex Block and David M. Block of Block & Co. brokered the sale on behalf of the seller, Glo-Rae Glenwood LLC. Block & Co. is the leasing and property management company for both the shopping center and the Panda Express property.
WEST PALM BEACH, FLA. — Calkain Cos. has arranged the $6.1 million sale of a retail property located at 1771 S. Congress Ave. in West Palm Beach that is currently leased to Wawa. Patrick Nutt and Scott Campbell of Calkain represented the undisclosed seller in the transaction. The newly constructed convenience store features a 20-year ground lease. The deal marks Nutt’s 23rd Wawa transaction. The buyer was not disclosed.
WINSTON SALEM, N.C. — Cronheim Mortgage has secured a $5.2 million loan for St. George Square, a 41,000-square-foot retail and office property in Winston-Salem. Allison Villamagna, Andrew Steward and Dev Morris of Cronheim structured the 10-year loan with a 20-year amortization schedule through Standard Insurance Co. on behalf of the borrower, an entity managed by The Bedrin Organization. At the time the loan was placed, St. George Square was fully leased to a mix of retail and office tenants including Salons by JC, Berkshire Hathaway Home Services, Regus Office Centers, State Farm Insurance, Tropical Smoothie Café, Nothing Bundt Cakes and Painting with a Twist. The property is situated across from Hanes Mall Boulevard and roughly seven miles south of Wake Forest University.
FORT WORTH, TEXAS — A partnership that includes creators of the restaurant BREWED and residential real estate firm 6th Ave. Homes will open The 4 Eleven in Fort Worth. The project involves transforming an 18,000-square-foot warehouse located at 411 S. Main St. into a center with an events venue and a variety of shops. Committed tenants include Alchemy Pops, a provider of frozen pops; Winton and Waits, an accessories and home goods store; and The Greenhouse 817, a design studio. The opening is scheduled for late October.
HAMMOND, IND. — Associated Bank has provided a $3.1 million loan for the acquisition of a 1.4-acre land site located at 7905-17 Indianapolis Blvd. in Hammond, about 25 miles southeast of Chicago. The borrower, GW Properties, plans to build a multi-tenant retail building at the site. The 9,250-square-foot building will be divided into four retail spaces. Completion is slated for the second quarter of 2018. Brian Rogan of Associated Bank originated the loan.