Retail

TOLD Development Sells 32,000 SF Retail Center in Maple Grove, Minnesota

by Kristin Harlow March 1, 2018

MAPLE GROVE, MINN. — TOLD Development Co. has sold The Shops at Wedgwood in Maple Grove for an undisclosed price. The 32,000-square-foot retail center is located at the intersection of Interstate 494 and Bass Lake Road. The property, developed in two phases in 2006 and 2014, is fully leased to tenants such as The Original Pancake House, Jimmy John’s, Pizza Hut, Bruegger’s Bagels, Caribou Coffee, RTaco, Fantastic Sam’s, Solo’s Pizza Café and Metro Dentalcare. Upland Real Estate Group represented TOLD in the sale. An institutional investor was the buyer.

March 1, 2018

Kansas Midwest Restaurant Retail

Block & Co. Brokers Sale of Restaurant Building in Mission, Kansas

by Kristin Harlow March 1, 2018

MISSION, KAN. — Block & Co. Inc. Realtors has brokered the sale of a restaurant building formerly occupied by Runza in Mission, just south of Kansas City. The sales price was not disclosed. The 2,515-square-foot property is a pad site near the Mission West Shopping Center. David Block, Alex Block and Max Kosoglad of Block & Co. negotiated the transaction on behalf of the buyer, an investment group managed by Block & Co. The team manages the property and is in the process of leasing the space to a replacement restaurant concept.

March 1, 2018

Florida Loans Retail Southeast

HFF Arranges Joint Venture Equity, Construction Financing for 470,000 SF Shopping Center in Orlando

by Camren Skelton March 1, 2018

ORLANDO, FLA. — HFF has arranged joint venture equity and construction financing for the development of Vineland Pointe, a 470,000-square-foot shopping center under construction in Orlando. Danny Finkle and Brian Gaswirth of HFF arranged the joint venture equity partnership with LaSalle Investment Management on behalf of the developer, O’Connor Capital Partners. The HFF team subsequently arranged a construction loan through Wells Fargo Bank on behalf of the LaSalle-O’Connor partnership. The three-phase Vineland Pointe will be home to tenants such as Lucky’s Market, Ross Dress for Less, Marshalls and Burlington. Site work at the property is underway, and the project is slated for completion by mid-2019.

March 1, 2018

Mixed-Use Retail South Carolina Southeast

Topgolf to Open First South Carolina Venue at 77-Acre Garlington North Project in Greenville

by Camren Skelton March 1, 2018

GREENVILLE, S.C. — Entertainment concept Topgolf plans to open a new location at Garlington North, a 77-acre mixed-use project under development at Interstate 85 and Pelham Road in Greenville. Andy Misiaveg and Darrell Palasciano of The Shopping Center Group represented both Topgolf and owner/developer RealtyLink LLC in the lease negotiations. TSCG is the exclusive leasing advisor for the development. The three-story Topgolf venue will be situated on 13.5 acres in the northwest corner of the site, and will include 72 climate-controlled hitting bays that can host up to six players at a time. The facility will be the first Topgolf in South Carolina and is expected to open in summer 2019. Additional plans for the first phase of Garlington North include 24 acres of green space and preserved wetlands. There are three additional parcels available for sale or ground lease, and TSCG is pursuing restaurants, hotel chains, entertainment venues, retail and office tenants to round out Phase I. RealtyLink is considering retail, office, industrial and/or flex space for the second phase of the project. Site work is currently underway, but an additional construction timeline was not disclosed.

March 1, 2018

California Retail Western

CBRE Arranges $17.5M Sale of Shopping Center in Los Angeles

by Nellie Day February 28, 2018

LOS ANGELES — CBRE has arranged the $17.5 million sale of Triangle Center, a 16,128-square-foot strip retail center. The property, which cuts across the Los Angeles and Culver City boundaries, is home to four single-unit tenants and a freestanding 99 Cents Only store. Alex Kozakov, Patrick Wade and Neal Golub of CBRE arranged the transaction on behalf of the seller, private investor Triangle Center LLC. Mary Cronin of Urban Real Estate Investment represented the buyer, Bastion Development Corp.

February 28, 2018

Colorado Restaurant Retail Western

Quiznos Reveals New Store Design Prototype

by Nellie Day February 28, 2018

DENVER — Quiznos has debuted its newest restaurant prototype, which will include a redesigned interior layout. The new layout includes a dedicated spot for online-order pick-up and orders made through the Toasty Points loyalty mobile app, as well as seating with power outlets to keep devices charged throughout a customer’s visit. Founded in 1981, Denver-based Quiznos is a quick-service restaurant chain serving toasted sandwiches in 35 countries.

February 28, 2018

Mixed-Use Multifamily Northeast Pennsylvania Retail

Southern Land Co. to Develop 565,000 SF Mixed-Use Tower in Philadelphia

by Amy Works February 28, 2018

PHILADELPHIA — Southern Land Co. is developing The Laurel, a $300 million mixed-use property located at 1911 Walnut St. in Philadelphia. Designed by Solomon Cordwell Buenz, the 565,000-square-foot tower will feature 54 condominiums and 241 long- and short-term residences with separate lobbies and entrances. Additionally, the 48-story tower will feature 24,000 square feet of retail space. Amenity space at the property will include indoor and outdoor pools, fitness clubs, a game room with demonstration kitchen/bar, a library and music room.

February 28, 2018

New Jersey Northeast Retail

Marcus & Millichap Brokers $1.2M Sale of Retail Property in Edison, New Jersey

by Amy Works February 28, 2018

EDISON, N.J. — Marcus & Millichap has arranged the sale of a retail property located in Edison. A private investor acquired the property for $1.2 million. Chase Bank occupies the 3,910-square-foot property on a net-leased basis. Alexander Pildes and Michael Lombardi of Marcus & Millichap represent the seller, a private investor, while Pildes, Lombardi and Greg Babaian, also of Marcus & Millichap, represented the buyer in the deal.

February 28, 2018

Northeast Pennsylvania Retail

Markward Group Arranges Sale of 4,051 SF Retail Building in Bethlehem, Pennsylvania

by Amy Works February 28, 2018

BETHLEHEM, PA. — Markward Group has brokered the sale of a retail building located at 1635 Broadway in Bethlehem. Noosh Inc. sold the property and liquor license to Mariam’s Restaurant LLC for an undisclosed price. The 4,051-square-foot property was formerly occupied by 6 Pack Shop. Chip Miers and Ann Kline of Markward Group represented the seller and buyer in the transaction.

February 28, 2018

Loans Midwest North Dakota Retail South Dakota

Dougherty Provides $25.2M Refinancing of Five-Property Retail Portfolio in the Dakotas

by Kristin Harlow February 28, 2018

FARGO, N.D. — Dougherty Funding LLC has provided a $25.2 million loan for the refinancing of a five-property retail portfolio in both North Dakota and South Dakota. The unnamed properties total 222,945 square feet and are located in Fargo and Grand Forks, N.D., as well as Sioux Falls, S.D. Dougherty’s Minneapolis office served as lead lender and servicer for the loan. The borrower was not disclosed.

February 28, 2018

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