Retail

Cushman & Wakefield Brokers Sale of The Woodmere Club in Woodmere, N.Y.

by Haisten Willis April 28, 2017

WOODMERE, N.Y. — Cushman & Wakefield has brokered the sale of The Woodmere Club, a golf and country club in Woodmere, to a joint-venture real estate investment entity. Cushman & Wakefield’s metropolitan area capital markets group orchestrated the deal. Weiss Properties and 2020 Acquisitions purchased the 110-acre property, which is located at 99 Meadow Drive. The club features the original clubhouse built in 1908, 18 holes of golf, six tennis courts, a swimming pool, fitness center and several dining options.

April 28, 2017

New Jersey Northeast Retail

M&M Arranges $2.1M Sale of Net Leased Family Dollar in Orange, N.J.

by Haisten Willis April 28, 2017

ORANGE, N.J. — Marcus & Millichap has arranged the $2.1 million sale of an 8,020-square-foot property net leased to Family Dollar in Orange. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, a developer. The team also secured and represented the buyer, a private investor. The building is located at 605 Scotland Road at its intersection with Tremont Avenue.

April 28, 2017

Illinois Midwest Retail

Baum Arranges $7M Sale of 32,171 SF Retail Center in Harwood Heights, Illinois

by Kristin Harlow April 28, 2017

HARWOOD HEIGHTS, ILL. — Baum Realty Group has arranged the sale of a 32,171-square-foot retail center in Harwood Heights, approximately 13 miles northwest of Chicago, for $7 million. The property, 4600 Plaza, is located at 4600 N. Harlem Ave. The center was owned by an affiliate of Chicago-based Next Realty LLC. The company has completed major renovations and retenanting at the center over the past 18 months. Danny Spitz and Greg Dietz of Baum represented Next in the sales transaction. The buyer was an out-of-state investment group.

April 28, 2017

Retail Texas

Baker Katz Secures Two Leases Totaling 13,000 SF in Metro Houston for Outback Steakhouse

by Taylor Williams April 27, 2017

KATY AND PASADENA, TEXAS — Baker Katz has negotiated two leases totaling 13,000 square feet in the Houston suburbs of Katy and Pasadena on behalf of Outback Steakhouse. The Katy restaurant will be located at the intersection of Interstate 10 and Katy Fort Bend Road. The Pasadena restaurant will be located at the corner of Vista Road and State Highway Beltway 8. Stephen Tou of Retail Connection and Lindsay Schlueter of Glasier Retail Partners represented the landlords in Katy and Pasadena, respectively.

April 27, 2017

Illinois Midwest Restaurant Retail

Starbucks to Open Roastery in Chicago in 2019

by Kristin Harlow April 27, 2017

CHICAGO — Starbucks Coffee Co. has unveiled plans to open a Starbucks Reserve Roastery in Chicago in 2019. Located on North Michigan Avenue and Erie Street on Chicago’s Magnificent Mile, the Chicago Reserve Roastery will be the company’s third Roastery location in the United States, following Seattle, which opened in December 2014, and New York City, which is slated to open in 2018. The 43,000 square-foot space will be dedicated to roasting, brewing and packaging the company’s small-batch Starbucks Reserve coffees from around the world. Tailored to the Chicago customer, the four-story building will offer multiple brewing methods, specialty Reserve beverages and mixology. Reserve Roastery locations also include artisan breads and bakery items from Italian-based Rocco Princi. Robert Wislow, Camille Julmy and Todd Siegel of CBRE represented the landlord, Gordon Segal, in the lease transaction. Segal is the founder of Crate & Barrel. Adam Secher of Baum Realty Group represented Starbucks.

April 27, 2017

Illinois Midwest Retail

PCCP Provides $36M Loan for Refinancing of Retail Center in Chicago

by Kristin Harlow April 27, 2017

CHICAGO — PCCP LLC has provided a $36 million loan for the refinancing of Village Market in the Lakeshore East community of downtown Chicago. The 102,224-square-foot retail center is 87 percent leased and is anchored by a 56,000-square-foot Mariano’s store. Village Market opened in 2011. The borrower was a joint venture between Magellan Development Co. and Hanwha Engineering & Construction.

April 27, 2017

Loans Multifamily New York Northeast Retail

Bellwether Enterprise Secures $37M Financing for Mixed-Use Property in NYC

by Haisten Willis April 27, 2017

NEW YORK CITY — Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, has secured $37 million in financing for The Larkspur, a mixed-use property in the Central Harlem neighborhood of Manhattan. The eight-story building includes 116 apartment units along with seven ground-floor commercial spaces. Bellwether provided a fixed-rate CMBS loan with a 12-year term through Fannie Mae. The terms of the financing ensure that at least 20 percent of the units are reserved for low-income families or individuals. Jim Gillespie of Bellwether Enterprise’s New York office arranged the loan for The Lemle & Wolff Cos.

April 27, 2017

New Jersey Northeast Retail

JJ Operating, Houlihan-Parnes Realtors Acquire Shopping Center in Lawrence, N.J.

by Haisten Willis April 27, 2017

LAWRENCE, N.J. — JJ Operating Inc., in partnership with Houlihan-Parnes Realtors, has acquired Lawrence Shopping Center in Lawrence. The new owners will implement a $5 million renovation plan designed to improve the aesthetics and functionality of the center. Capital improvements will include a façade renovation, enhanced landscaping as well as storefront and tenant improvements. The renovations will be completed by the end of the year. The 393,430-square-foot shopping center is accessible to I-95/295 and tenants include Burlington, Acme, Staples, Wells Fargo, Pet Valu and MJM Designer Shoes.

April 27, 2017

Retail Texas

Marcus & Millichap Brokers Sale of 40,860 SF Self-Storage Facility in Kerrville, Texas

by Taylor Williams April 26, 2017

KERRVILLE, TEXAS — Marcus & Millichap has brokered the sale of A-B-C Self Storage, a 40,860-square-foot self-storage facility in Kerrville, a city approximately 65 miles northwest of San Antonio. Situated on 2.2 acres at 1201 Bandera Highway, the property comprises 269 units within 40,700 square feet of net rentable space. Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company. Butch Lagred and Chad Knibbe, also with Marcus & Millichap, represented the buyer, a private investor.

April 26, 2017

California Retail Western

Dog Haus Plans 300 New Locations Over Next Seven Years

by Nellie Day April 26, 2017

PASADENA, CALIF. — Dog Haus, a Pasadena-based gourmet hot dog, sausage and burger concept, has signed a development agreement with American Development Partners. The agreement includes the construction of over 300 new Dog Haus franchise locations in 12 states over the next seven years. The new locations will be built on land primarily purchased for built-to-suit and standalone Dog Haus Biergarten concepts, and will be operated by franchisees with multi-unit and multi-brand experience. The deal has a projected real estate, construction and design investment value of over $500 million. Dog Haus currently has 21 stores open in five states (Arizona, California, Colorado, Nevada and Utah), which will now grow to 19 states across the country with stores set to open in Alabama, Florida, Georgia, Illinois, Kentucky, Louisiana, Maryland, Michigan, Ohio, New York, Pennsylvania, Texas, Tennessee and Wyoming. American Development Partners’ primary role will be to aid in the development of new locations, and facilitate the acquisition of land and oversee construction of this deal’s new franchise locations.

April 26, 2017

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