Retail

Capital Group Properties Secures Anchor for Mixed-Use Development in Maynard, Massachusetts

by Amy Works November 29, 2016

MAYNARD, MASS. — Colliers International, on behalf of developer Capital Group Properties, has secured a grocery anchor for the planned 293,500-square-foot Maynard Crossing property in Maynard. Market 32 by Price Chopper has signed a lease for 68,000 square feet of space at the mixed-use project, which is slated to break ground in the second quarter of 2017 with completion scheduled for summer 2018. Upon completion, the project will feature two full-service and two fast-casual restaurants, a 20,000-square-foot health club, a community bank, hardware store, apparel stores, and medical care center, as well as 180 residential rental units and a 143-unit independent senior living facility. Colliers International Boston is the leasing team for the development.

November 29, 2016

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Arranges $11.5M Land Sale in Brooklyn

by Amy Works November 29, 2016

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a land site located at 88 Withers St. in Brooklyn’s Williamsburg neighborhood. BK Developers and RYBAK Development acquired the site from Withers 88 Group LLC for $11.5 million, or $340 per buildable square foot. The corner site was purchased with approved plans for a 39,000-square-foot building comprising 33 residential units and a ground-floor retail unit. The residential portion will include three three-bedroom units, 14 two-bedroom apartments, eight one-bedroom units and eight studio apartments. Brendan Maddigan of Cushman & Wakefield represented the seller in the transaction.

November 29, 2016

Midwest Ohio Retail

Scott Street Properties Breaks Ground on 8.3-Acre Retail Development in West Chester, Ohio

by Kristin Harlow November 29, 2016

WEST CHESTER, OHIO — Scott Street Properties has broken ground on a retail development along I-75 and The Streets of West Chester, about 25 miles north of Cincinnati. Phase I of the 8.3-acre development will include a couple freestanding buildings and a multi-tenant building featuring two new-to-market concepts. Chuy’s Tex-Mex restaurant and Matt the Miller’s Tavern have committed to the new project. North Shore Construction & Development Services is handling the project management for Scott Street Properties. Tenants are expected to begin opening for business in spring 2017. Eric Abroms and Joshua Rothstein of OnSite Retail Group LLC are handling the marketing and leasing of the new development.

November 29, 2016

Indiana Midwest Retail

The Boulder Group Arranges $9M Sale of Property Net Leased to Best Buy in South Bend

by Kristin Harlow November 29, 2016

SOUTH BEND, IND. — The Boulder Group has arranged the sale of a single-tenant property net leased to Best Buy in South Bend for $9 million. The 50,000-square-foot building is located at 6502 Grape Road near the University of Notre Dame. There are approximately seven years remaining on the Best Buy lease, which began in March 2003 and expires in March 2023. The absolute triple net lease features a 3 percent rental escalation in the primary term and in each of the four five-year renewal options. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest real estate investment company. The buyer was a West Coast-based real estate investment company.

November 29, 2016

Illinois Midwest Retail

Mid-America Brokers Sale of 66,066 SF Retail Center in Crystal Lake, Illinois

by Kristin Harlow November 29, 2016

CRYSTAL LAKE, ILL. — Mid-America Real Estate Corp. has brokered the sale of a portion of Bohl Farm Marketplace in Crystal Lake, a northwest suburb of Chicago. The sales price was not disclosed. Fresh Thyme Farmers Market, Planet Fitness and Party Center anchor the 66,066-square-foot portion that was sold. The center is located near the northwest corner of Northwest Highway and Pingree Road. Ben Wineman and Carly Gallagher were the exclusive brokers in the transaction on behalf of the seller, Berengaria Development.

November 29, 2016

Midwest Minnesota Retail

Marcus & Millichap Arranges $3.2M Sale of 18,027 SF Retail Property in Lino Lakes, Minnesota

by Kristin Harlow November 29, 2016

LINO LAKES, MINN. — Marcus & Millichap has arranged the sale of Lino Lakes Marketplace in Lino Lakes, a northern suburb of the Twin Cities, for $3.2 million. The 18,027-square-foot property is located at 701-717 Apollo Drive. The property was 92 percent occupied at closing. Sean Doyle, Cory Villaume, Matthew Hazelton and Adam “AJ” Prins of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The buyer was also a limited liability company.

November 29, 2016

California Loans Retail Western

Cohen Financial Secures $8.9M Loan for Town Center Square in Rancho Cucamonga

by Nellie Day November 28, 2016

RANCHO CUCAMONGA, CALIF. — Cohen Financial has secured an $8.9 million loan for Town Center Square, a 60,553-square-foot shopping center located roughly 40 miles outside downtown Los Angeles in Rancho Cucamonga. The property is fully leased to tenants including Aldi, Office Max and Barnes & Noble. Cathy Bronkema of Cohen Financial secured the fixed-rate, non-recourse, 15-year term loan with a flexible prepayment structure and 25-year amortization schedule. A private balance-sheet lender provided the financing, which was used to payoff an existing bridge loan.

November 28, 2016

Arizona Retail Western

Armstrong Development Properties to Develop Retail Strip Center in Peoria

by Nellie Day November 28, 2016

PEORIA, ARIZ. — Armstrong Development Properties is developing a 10,000-square-foot retail strip center in Peoria. The center will be located at 7473 W. Bell Road. A fuel station was recently demolished on the 1.3-acre site to make way for the five-tenant strip center. Café Rio, Smashburger and Mad Greens have already signed onto the project. Construction commenced in mid-September, with an expected completion date of June 2017.

November 28, 2016

Loans Midwest Missouri Retail

Metropolitan Capital Advisors Arranges $14.4M Acquisition Loan for 274,223 SF Shopping Center in Kansas City, Missouri

by Kristin Harlow November 28, 2016

KANSAS CITY, MO. — Metropolitan Capital Advisors Ltd. has arranged $14.4 million in acquisition financing for Barry Towne Shopping Center, a 274,223-square-foot retail center in Kansas City. The property was 47 percent occupied at the time of acquisition to tenants such as Target, Kohl’s and Famous Footwear. The center was built in two phases starting from 1996 to 2001. United Development Company purchased the property and will implement a capital improvement plan to attract new tenants. Sunny Sajnani and Brandon Wilhite of Metropolitan Capital Advisors arranged the bridge acquisition loan with Arkansas-based Centennial Bank.

November 28, 2016

New Jersey Northeast Retail

Ripco Real Estate Inks Three Leases at 53,000 SF Shopping Center in Secaucus, New Jersey

by Amy Works November 28, 2016

SECAUCUS, N.J. — Ripco Real Estate has brokered three new leases at the newly renovated 101 Plaza Center in Secaucus. Habanero Halal Grill, USA Wine Trader’s Club and Dollar Plus have joined the 53,000-square-foot neighborhood shopping center. Additional tenants include CVS/pharmacy, KFC, T-Mobile, Bagel Buffet, Plaza Pizza and Jon Giacomo Hair Salon. Daniel Zappala and Michael Rawlins of Ripco represented the undisclosed landlord in the deals.

November 28, 2016

Newer Posts

Older Posts

Upcoming Events

Aug
26