Retail

Fantini & Gorga Arranges $2.5M Refinancing Loan for Retail Center in Brookline, Mass.

by Haisten Willis May 1, 2017

BROOKLINE, MASS. — Fantini & Gorga has arranged $2.5 million in first mortgage financing for a 7,700-square-foot retail center located at 1427-1431 and 1441 Beacon St. in Brookline. A former Massachusetts resident who has relocated to California was the borrower. The retail property is 100 percent occupied and anchored by East Boston Savings Bank. Fantini & Gorga’s Derek Coulombe and Chris Miller arranged the refinancing on behalf of the borrower. The loan was placed with a Massachusetts-based financial institution.

May 1, 2017

Northeast Pennsylvania Retail

Orchestra Premaman to Open First U.S. Store in King of Prussia, Pa.

by Haisten Willis May 1, 2017

KING OF PRUSSIA, PA. — CBRE has arranged a 4,405-square-foot lease for Orchestra Premaman at the King of Prussia Mall near Philadelphia. The store will be the first U.S. location for the French retailer. Orchestra Premaman, a children’s fashion and apparel store, operates more than 700 stores in 40 countries worldwide. The company opened its first location in 1995. CBRE’s John Krause and Matt Mandel assisted Orchestra in its overall market analysis, site selection process and negotiated on the company’s behalf. The store is scheduled to open May 15.

May 1, 2017

Restaurant Retail Texas

Mesero, Orangetheory to Open Locations in Victory Park in Downtown Dallas

by Taylor Williams May 1, 2017

DALLAS — Mexican restaurant Mesero and gym chain Orangetheory Fitness will both open locations within the next 12 months in Victory Park, a 75-acre, mixed-use development in downtown Dallas. Both locations will be housed within a new building at Victory Park Lane and High Market Street, construction of which is near completion. The building will also house a Cinepolis Luxury Cinemas, 20,000 square feet of new retail space and The23, a 285-unit apartment community

May 1, 2017

Illinois Midwest Retail

SVN Arranges $10.5M Sale of Retail Portfolio in Naperville, Illinois

by Kristin Harlow May 1, 2017

NAPERVILLE, ILL. — SVN | Chicago Commercial has arranged the sale of four retail buildings in downtown Naperville for $10.5 million. The buildings total 15,412 square feet and are located at 19-27 W. Jefferson Ave. Tenants at the buildings include Lululemon, Jimmy John’s, Adagio Teas, Francesca’s Collection and Cold Stone Creamery. Tim Franz of SVN represented the buyer, Jefferson Naperville LLC. The seller was not disclosed.

May 1, 2017

Michigan Midwest Restaurant Retail

Founders Brewing to Open 14,000 SF Taproom in Detroit

by Kristin Harlow May 1, 2017

DETROIT — Founders Brewing Co. has unveiled plans to open a taproom in the lower Cass Corridor neighborhood of Detroit. The 14,000-square-foot property will be located at 456 Charlotte St., directly behind the Detroit Masonic Temple. Construction is slated to begin this summer with a grand opening set to take place in winter 2017. The company will brew beers at this location, as well as serve year-round, seasonal and specialty beers on tap. Founders Brewing currently operates a taproom in Grand Rapids.

May 1, 2017

Illinois Midwest Retail

Chase Bank Signs 3,600 SF Retail Lease at Apartment Property in Chicago’s Streeterville

by Kristin Harlow May 1, 2017

CHICAGO — Chase Bank will open a retail branch at the new Sienna apartment community located at 423 Ohio St. in Chicago’s Streeterville neighborhood. The branch will occupy 3,600 square feet on the ground floor and is slated to open this spring. Chase Bank will relocate from a branch approximately two blocks south. Sienna, which opened to residents in September 2016, consists of 50 apartment units. Golub & Co. and Diversified Real Estate Capital own the property.

May 1, 2017

Georgia Retail Southeast

Coro Realty Finalizes $47M Purchase of Retail, Parking Portfolio in Midtown Atlanta

by John Nelson May 1, 2017

ATLANTA — Atlanta-based Coro Realty Advisors has purchased The Shops at Spire, the final component of a portfolio in Midtown Atlanta comprising 87,905 square feet of ground-floor retail and over 600 parking spaces in five residential condominium buildings. Coro purchased the portfolio from The Loudermilk Cos., an Atlanta-based commercial real estate developer and owner. The purchase price was not disclosed, but the Atlanta Business Chronicle reports the portfolio traded for $47 million. The properties include retail space at 800 Peachtree, 805 Peachtree, Shops at Seventh, Shops at Spire and Shops at Viewpoint, as well as a nearby parking lot on Juniper Street. Tenants at these properties include Starbucks, BB&T, Einstein Brothers Bagels, Fresh 2 Order, World of Beer, Sprint and Atlanta’s first urban QuikTrip. When added to Coro Realty’s Gordon Biersch at 848 Peachtree St., the portfolio gives Coro Realty control over almost all of the public parking and retail on Peachtree Street between 5th and 7th streets. Kenny Holzer and Elliot Kyle of Skyline Seven brokered the sale of The Shops at Spire.

May 1, 2017

California Retail Western

Marcus & Millichap Arranges $15M Sale of Rosecrans Shopping Center in San Diego

by Nellie Day April 28, 2017

SAN DIEGO — Marcus & Millichap has arranged the $15 million sale of Rosecrans Shopping Center, a 43,108-square-foot retail center located in San Diego. The property is home to tenants including Rubio’s, CorePower Yoga, UPS, Allstate Insurance and Verizon. Mark Thiel of Marcus & Millichap represented the seller, an undisclosed private investor, in the transaction. Nick Totah and Ben Tashakorian, also of Marcus & Millichap, procured the buyer, Capital Asset Management. The new owner plans to renovate and reposition the center to attract health and fitness, lifestyle-oriented tenants.

April 28, 2017

Retail South Carolina Southeast

Shopping Center Group Arranges Leases in Metro Columbia for Fresh Market, Hobby Lobby, Ulta Beauty

by John Nelson April 28, 2017

LEXINGTON, S.C. — The Shopping Center Group, on behalf of developer Columbia Development, has signed three anchor leases at Lexington Marketplace, a 143,850-square-foot shopping center in Lexington. The Fresh Market, Hobby Lobby and Ulta Beauty have signed on at the shopping center, which will be situated at U.S. Highway 378 and Saluda Springs Road. This will be the second location in the metro Columbia area for The Fresh Market. Darrell Palasciano of The Shopping Center Group is seeking additional retail and restaurant tenants at the property, which is currently 70 preleased.

April 28, 2017

Georgia Retail Southeast

Stonis, Mayson to Lead SRS Investment Properties Group Out of Atlanta

by John Nelson April 28, 2017

ATLANTA — SRS Real Estate Partners has formalized leadership in the Southeast for its Investment Properties Group, which focuses on multi-tenant investment sales. Managing principal Kyle Stonis and principal Pierce Mayson out of Atlanta will lead the multi-tenant investment sale activity, recruiting and expansion efforts in the region. Since joining in 2011, Stonis and Mayson have established their group as one of the top investment sales teams in the Southeast. The duo has completed over $1 billion in sales transactions across 15 states since joining SRS. SRS’ Investment Properties Group and National Net Lease Group have recently welcomed two more investment sales experts with the addition of Rob Whitmire, as senior vice president in north and central Florida, and Giles Stevens, as vice president in Atlanta.

April 28, 2017

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