Tuesday, June 24, 2025
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MidwestMissouriRetail

Hanley Brokers $3.4M Sale of Retail Building on Pad Site in Grandview, Missouri

by Kristin Harlow

GRANDVIEW, MO. — Hanley Investment Group Real Estate Advisors has brokered the sale of an 8,000-square-foot retail building on a pad site in Grandview, 14 miles south of downtown Kansas City, for $3.4 million. The multi-tenant building is located at 12410 S. U.S. Highway 71 in Truman’s Marketplace shopping center. The building is 100 percent occupied by T-Mobile, McAlister’s Deli and KC Speed Nails. Jeff Lefko and Bill Asher of Hanley Investment Group represented the seller, a private developer based in Kansas City. John Stafford of Colliers International represented the buyer, a Thousand Oaks, Calif.-based private investor.

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NortheastPennsylvaniaRetail

Metro Commercial Brokers Leases for Six New Target Locations in Philadelphia

by Haisten Willis

PHILADELPHIA — Metro Commercial Real Estate has brokered leases for six small-format Target stores in Philadelphia. The company’s Steve Niggeman and Tom Londres represented Target in the following leases: Lincoln Square: Store opening in October 2018 at 1000 S. Broad St. Alterra Property Group and Kimco Realty Corp. will be the owners of the 36,000-square-foot location. Northern Liberties: Store opening in July 2018 at 456 N. 5th St. Alliance Partners HSP will own the 47,000-square-foot location. Ivy Ridge Shopping Center: Store opened in March at 7162 Ridge Ave. Brixmor Property Group owns the 47,000-square-foot location. 2100 Pennsylvania Ave.: Store opening in October. Range Properties will own the 32,000-square-foot location. 1122-28 Chestnut St.: Store opened in July 2016. Brickstone Co. owns the 19,000-square-foot location. 1900-06 Chestnut St.: Store opened in October 2016. Pearl Properties owns the 23,000-square-foot location.

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Mixed-UseMultifamilyNew YorkNortheastRetail

Bestreich Realty Arranges $11.4M Sale of Mixed-Use Building in NYC

by Haisten Willis

NEW YORK CITY — Bestreich Realty Group has arranged the $11.4 million sale of a six-story mixed-use building in the Williamsburg neighborhood of Brooklyn. The property is located at 66 Graham Ave. and features 30 rent-stabilized apartments and six retail spaces including two clothing stores, a jewelry store, a 99-cent store, a barbershop and a newsstand. The 25,900-square-foot building was built in 1925. Bestreich Realty Group’s Luke Sproviero and Derek Bestreich represented both the buyer, local investor Morris Weinberg, and the seller, father and son clothing moguls Ruby and Victor Azrak, who had owned the building since 1986.

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LoansNew YorkNortheastRetail

Eastern Consolidated Secures $6M Refinancing Loan for Retail Center in NYC

by Haisten Willis

NEW YORK CITY — Eastern Consolidated’s capital advisory division has secured a $6 million loan to refinance the ground lease for a 33,636-square-foot shopping center. The property is located at 945 White Plains Road in the Soundview neighborhood of The Bronx. Tenants at the center include Modell’s Sporting Goods, Party City and GameStop. Sam Zabala and Charles Han of Eastern Consolidated represented the borrower, M&M of Bruckner LLC, which is operated by the Modell family, and secured a loan from Signature Bank.

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CaliforniaLoansRetailWestern

NewMark Merrill Secures $19.1 Recapitalization for Santa Ana Retail Center

by Nellie Day

SANTA ANA, CALIF. — NewMark Merrill Cos., a Woodland Hills-based retail shopping center development company, has completed a $19.1 million recapitalization of Bristol Warner Village in Santa Ana. NewMark Merrill’s Sandy Sigal, Susan Rorison, James Patton and Sandra Kist made up the finance team. Bristol Warner Village is located at the southeast corner of Bristol Street and Warner Avenue. The 80,865-square-foot property recently underwent redevelopment and is 98.5 percent occupied by tenants including Starbucks, 99 Cent Only, Chase, T-Mobile and MetroPCS.

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GeorgiaRetailSoutheast

PGIM Sells 420,556 Retail Center in Metro Atlanta for $109M

by John Nelson

ALPHARETTA, GA. — PGIM Real Estate has sold North Point Market Center, a 420,556-square-foot retail center located across the street from North Point Mall at 6200 N. Point Parkway in Alpharetta. The sales price was undisclosed, but the Atlanta Business Chronicle reports PGIM sold the property to CBRE Global Investors for nearly $109 million. North Point Market Center was nearly fully leased at the time of sale to tenants such as Nordstrom Rack, PetSmart, Five Guys, Stein Mart and Dick’s Sporting Goods. PGIM, which owns the nearby Avalon, purchased the retail center in 1998 in a joint venture and has been the sole owner since 2013.

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IndustrialLoansMassachusettsMixed-UseNortheastOfficeRetail

Transwestern Secures Financing for Boston Celtics Practice Facility in Brighton, Mass.

by Haisten Willis

BRIGHTON, MASS. — Transwestern Consulting Group (TCG) has arranged a construction and permanent financing loan on behalf of NB Development Group for 40 Guest St. in Brighton. According to public records, the loan amount was $76 million. TCG’s Chris Skeffington and Andrew Stone, along with NB Development’s Jim Halliday and Kevin Doyle, arranged the loan with East Boston Savings Bank. Part of the Boston Landing mixed-use development, 40 Guest St. is a planned 160,000-square-foot facility that will house the Boston Celtics’ new training and practice facility known as the Auerbach Center at New Balance World Headquarters. The project also includes two floors of Class A laboratory and office space totaling 83,500 square feet, plus 5,700 square feet of retail space. The project broke ground in November 2016, with completion expected in mid-2018. TCG provides leasing and property management services for Boston Landing.

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New YorkNortheastRetail

Construction Begins on American Girl Place Store at 75 Rockefeller Plaza in NYC   

by Haisten Willis

NEW YORK CITY — Englewood Construction’s retail group has begun construction on a 40,000-square-foot American Girl Place store located at 75 Rockefeller Plaza in New York City. American Girl will move to the new space this fall from its current location at 609 Fifth Ave. The 75 Rockefeller Plaza store will be the 12th project Englewood has completed for American Girl since 2008. Cincinnati-based architecture firm FRCH Design Worldwide designed the new American Girl store, which will span two floors with direct entrances from both 51st and 52nd streets.

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New JerseyNortheastRetail

M&M Brokers $2.6M Sale of Retail Property in Elizabeth, N.J.

by Haisten Willis

ELIZABETH, N.J. — Marcus & Millichap has brokered the $2.6 million sale of a 16,208-square-foot retail property in Elizabeth. Michael Lombardi of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, a private investor. Lombardi also secured and represented the buyer, another private investor. The property is located at 251 N. Broad St.

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