Retail

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

by Haisten Willis April 14, 2017

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.

April 14, 2017

Loans New York Northeast Retail

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

by Haisten Willis April 14, 2017

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.

April 14, 2017

California Loans Retail Western

NewMark Merrill Secures $19.1 Recapitalization for Santa Ana Retail Center

by Nellie Day April 13, 2017

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.

April 13, 2017

Georgia Retail Southeast

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

by John Nelson April 13, 2017

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.

April 13, 2017

Industrial Loans Massachusetts Mixed-Use Northeast Office Retail

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

by Haisten Willis April 13, 2017

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.

April 13, 2017

New York Northeast Retail

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

by Haisten Willis April 13, 2017

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.

April 13, 2017

New Jersey Northeast Retail

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

by Haisten Willis April 13, 2017

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.

April 13, 2017

Midwest Retail Wisconsin

Five Below Signs 9,586 SF Retail Lease in West Allis, Wisconsin

by Kristin Harlow April 13, 2017

WEST ALLIS, WIS. — Five Below has signed a 9,586-square-foot retail lease at West Allis Towne Centre in West Allis, six miles west of Milwaukee. The shopping center is located at 6768 W. Greenfield Ave. Tony Colvin and Dan Cohen of Mid-America Real Estate-Wisconsin LLC represented the tenant in the lease transaction.

April 13, 2017

Retail Texas

Retail Solutions Secures 25,000 SF Lease for Ross Dress for Less in Laredo

by Taylor Williams April 12, 2017

LAREDO, TEXAS — Retail Solutions has secured a 25,000-square-foot lease at Laredo Town Center, a retail center located at 5511 Bob Bullock Expressway. Chris Flesner of Retail Solutions and Jim Weir of The Retail Connection represented the landlord in the transaction Jim Tapp of The Tapp Co. represented the tenant, Ross Dress for Less.

April 12, 2017

Retail Southeast Tennessee

Branch, DeFoor to Build Publix-Anchored Shopping Center in Chattanooga

by John Nelson April 12, 2017

CHATTANOOGA, TENN. — Atlanta-based Branch Properties and DeFoor Development plan to develop The Village of Waterside, a 162,000-square-foot shopping center in Chattanooga’s Hamilton Mill neighborhood. The property, which will be anchored by Publix and REI, will be situated on 22.8 acres at the intersection of Shallowford and Gunbarrel roads. This will be the first Chattanooga store for REI, an outdoor gear and apparel retailer. Branch and DeFoor expect to deliver The Village of Waterside in late summer 2018.

April 12, 2017

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