CICERO, N.Y. — An entity operated by Charterhouse Development Corp. has purchased a retail property located at 7939 Brewerton Road in Cicero. Cicero ECK LLC sold the property for $2.7 million. Rite Aid occupies the 11,180-square-foot property.
ATLANTA — Three new tenants will join Shops Around Lenox, an open-air shopping center in Atlanta’s Buckhead district, in the coming months. New York-based fitness company SoulCycle will open its first Atlanta location at the center in late April, and healthy food concept Flower Child will open its first location in the city in mid-summer. West Elm will also open a new location at the center this summer. The new tenants join recent additions to Shops Around Lenox including Draper James, which opened in November 2017; Blo Blow Dry Bar, which opened in 2016; and Kendra Scott, which opened in 2014. Additional tenants at the center include South Moon Under, Crate & Barrel, Paper Source, lululemon athletica, Suit Supply, fab’rik and Seven Lamps. Retail consultant Tisha Maley and JLL were retained to update and manage the new tenant lineup. Originally constructed in 1979, Shops Around Lenox was updated in 2009 with refreshed facades, new community gathering spaces and new artwork. The center is located within walking distance to more than 10 million square feet of office space, seven hotels and Lenox Square, an enclosed regional mall owned and operated by Simon.
SANTA MONICA, CALIF. — Dick’s Sporting Goods, the largest U.S.-based, omni-channel sporting goods retailer, will open four new Dick’s Sporting Goods stores in February. The new stores are opening this month in Santa Maria, Calif.; Evansville, Ind.; Baxter, Minn.; and Warwick, R.I. The company will now have 721 Dick’s Sporting Goods stores nationwide in 47 states. Founded in 1948, Dick’s Sporting Goods Inc. operates more than 715 Dick’s Sporting Goods locations across the United States. Headquartered in Pittsburgh, the company also owns and operates Golf Galaxy and Field & Stream specialty stores.
NEW YORK CITY — Progress Capital has arranged $8.2 million in refinancing for the former Apple Bank Building at 2526 Grand Concourse in the Bronx. The borrower, Madd Equities, plans to use proceeds of the loan to renovate the street- and basement-level retail spaces at the property. Brad Domenico of Progress Capital secured the financing, which includes a 24-month interest-only payment period.
SHENANDOAH, TEXAS — Urban Air Trampoline & Adventure Park will open a 37,000-square-foot venue at Sam Moon Center in Shenandoah, a northern suburb of Houston. The venue will offer trampoline activities, indoor skydiving, ropes courses, climbing walls and a café. Michael Stern of Edge Realty Partners represented Urban Air in the lease negotiations. Steve Greenberg and Kendall Isben of The Retail Connection represented the landlord, Sam Moon Group. The opening is slated for July.
HURST, TEXAS — JLL has arranged the sale of a 13,900-square-foot retail property located at 340 Grapevine Highway in the eastern Fort Worth metro of Hurst. Frost Bank owned and occupied the single-tenant property, which was purchased by Westover Hurst LLC. Pat McDowell and Todd Burnett of JLL represented Frost Bank in the sale. Mack House of The Westover Group represented the buyer. The sale includes the 2.1 acres of land surrounding the building.
CHICAGO — The Boulder Group has arranged the sale of a PNC Bank ground lease in Chicago for $4 million. The single-tenant property is located at 8700 S. Cottage Grove Ave. near I-94. There are 22 years remaining on the original 30-year PNC Bank ground lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, an East Coast-based real estate partnership. Jon Busse of Colliers International represented the buyer, Burlingame Midland LLC. The new owner completed a 1031 exchange for the recent sale of a retail property occupied by Home Depot in Midland, Mich.
ST. PETERSBURG, FLA. — NorthMarq Capital has arranged a $15 million loan for Plaza Tower & Courtyard Shops, a 184,000-square-foot office and retail property located at 111 2nd Ave. N.E. and 201 1st St. N.E. in St. Petersburg. Bob Hernandez of NorthMarq arranged the seven-year loan with a 25-year amortization schedule on behalf of the undisclosed borrower. A local community bank provided the funding. The property is home to tenants such as Keller Williams Realty, LIG Marine and Gulfcoast Ultrasound Institute.
MERIDIAN, IDAHO — Pine Tree LLC, in partnership with a U.S. state pension fund, has acquired Meridian Crossroads, a 527,000-square-foot shopping center in Meridian, for $78.7 million. DDR Corp. sold the asset, located 11 miles west of Boise. The center is home to tenants such as PetSmart, Pier 1 Imports, Bed Bath & Beyond and Ross Dress for Less. Pine Tree is also working with Albertsons Cos. as they open Market Street Idaho, a 109,000-square-foot experiential grocery store. The new store is expected to open at Meridian Crossroads later this year.
HENDERSON, NEV. — NKF Capital Markets has arranged the sale of Galleria Commons, a 278,411-square-foot shopping center in Henderson. Rob Ippolito of NKF Capital Markets arranged the transaction on behalf of the seller, Brixmor Property Group. 3D Investments acquired the property for an undisclosed price. At the time of sale, Galleria Commons was fully leased to tenants such as T.J. Maxx, Stein Mart, Babies ‘R’ Us, Burlington, Dollar Tree, Tuesday Morning and Kirkland’s.