CHICAGO — Baum Realty Group LLC has arranged the sale of a retail property in Chicago’s Edgewater neighborhood for $14.1 million. A local developer sold the ground-floor retail space at The Granville to a private east-coast investor. ALDI anchors the fully leased property, which includes four other tenants. The 31,920-square-foot asset also features 106 covered parking spaces. Danny Spitz and Patrick Forkin of Baum Realty represented the seller in the transaction.
TRENTON, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of an 11,800-square-foot retail building in Trenton, approximately 20 miles southwest of Detroit. Land Holding LLC sold the building, named Animal Crackers, to Trinity Realty Group LLC for an undisclosed price. The property is located at 124 Elm St. Paul Feldman of Friedman Integrated Real Estate Solutions represented the seller in the transaction.
MIAMI BEACH, FLA. — Marcus & Millichap has arranged the $12.3 million sale of Plaza 1600 South Beach, a 6,090-square-foot retail property located in Miami Beach’s South Beach neighborhood. The property is located at the intersection of 16th Street and Alton Road, roughly one block from Lincoln Road Mall. Built in 1959 and renovated in 2000, Plaza 1600 South Beach’s current tenants include Lyon Frères Petit Marché, Dunkin’ Donuts and Pizza Hut. Scott Sandelin and Alejandro D’Alba of Marcus & Millichap’s Miami office represented both the seller, a partnership from Miami Beach, and the buyer, a limited liability company from Miami.
BOSTON — Marcus & Millichap has arranged the sale of a mixed-use property located at 46-50 Blue Hill Ave. in Boston. A private investor sold the property to an undisclosed private investor for $1.6 million. The property features six apartments and three retail spaces. Evan Griffith of Marcus & Millichap represented the seller and procured the buyer in the deal.
MARIETTA, GA. — Franklin Street has brokered the $7 million sale of Whitlock Village, a 61,180-square-foot shopping center in Marietta. The center was 96 percent leased at the time of sale to tenants such as Goodwill, Dollar Tree and Hibbett Sporting Goods. John Tennant and Bryan Belk of Franklin Street represented the seller, American National Insurance Co., in the transaction. The buyer is a private local investor, Snellville Plaza LLLP, a partnership controlled by Atlanta-based M&P Shopping Centers. The buyer was represented internally by Simon Engler and Jeremy Rosenthal.
ARLINGTON, TEXAS — The Arlington City Council will consider designating a venue project and authorizing a master agreement for a public-private partnership with the Texas Rangers at its evening meeting tomorrow. If approved, the council action will allow the city of Arlington to begin the steps required to hold an election this November asking voters to extend existing funding mechanisms to provide public financing for construction of a new $1 billion baseball stadium. The Texas Rangers’ 30-year lease on the city-owned Globe Life Park is set to end in 2024. With the new proposed master agreement, the Rangers’ partnership with Arlington would extend until Jan. 1, 2054. The design for a new ballpark would include a retractable roof for climate control and shelter for fans during the summer months. The new park is expected to have similar design concepts featured in the construction of Globe Life Park. The master agreement for the public-private partnership calls for a 50-50 split between the Texas Rangers and the city of Arlington. If the council takes action to designate the venue project, the city will ask the Texas Office of the Comptroller to review the fiscal impact to the state before calling a Nov. 8 …
AUSTIN, TEXAS — Highland Village, a 120,000-square-foot retail center located at 6929 Airport Blvd. in Austin, will be renovated and rebranded as the Crescent. The center will receive façade and exterior improvements, parking lot upgrades, a new pylon sign, monument and directional signage and updated landscaping. Supermarket chain 99 Ranch Market will anchor the project, opening its first Austin location at the Crescent in early 2017. The California-based supermarket offers fresh produce, meat and seafood, along with Chinese, Korean, Japanese and American specialty grocery items. 99 Ranch Market was established in 1984 and has grown to become one of the largest Asian supermarket chains in the United States, with more than 43 locations in California, Nevada, Texas, New Jersey and Washington state. Kula Revolving Sushi Bar will also open inside the center. Eric DeJernett and John Heffington of CBRE’s Austin office are the exclusive retail leasing advisors for the project, and CBRE also manages the property.
FRANKLIN, MASS. — NorthMarq Capital has arranged $50 million for the refinancing of Franklin Village, a grocery-anchored mixed-use property located at 250 Franklin Village Drive in Franklin. The 10-year loan features a 30-year amortization schedule. Greg Nalbandian and Doug Nickerson of NorthMarq arranged the financing through NorthMarq’s correspondent relationship with Sun Life of Canada for the undisclosed borrower. Major tenants at the 303,096-square-foot property are Stop & Shop, Dress Barn and Marshalls.
ATLANTA — The Atlanta Braves and development partner Fuqua Development have revealed eight new retail, dining and entertainment concepts coming to The Battery Atlanta, a 1.5 million-square-foot mixed-use development surrounding SunTrust Park. The concepts are set to open by Opening Day 2017, when the Atlanta Braves will first take the field at their new 41,500-seat ballpark, which is situated in Cobb County near the intersection of I-75 and I-285. The new concepts include Wahlburgers, a chef-driven burger concept from Mark, Donnie and Paul Wahlberg; Kings Bowl, a retro bowling and entertainment destination; Live!, a dining and entertainment destination developed by The Cordish Cos. and and designed by Jeffrey Beers International; Goldbergs Bagel Co. & Deli, an Atlanta-based bagel and sandwich shop; Mountain High Outfitters, an outdoor specialty store; Sugarboo Designs, a household items and gifts retailer; DressUp, a women’s fashion boutique retailer; and a retail-only Harley-Davidson store. Cordish operates Live! venues at major ballparks across the country, including Xfinity Live! at the Philadelphia Flyers’ Philadelphia Stadium Complex and Ballpark Village with the St. Louis Cardinals. At The Battery Atlanta, Cordish will develop a two-level venue that will feature a 40-foot diagonal, high-definition LED screen as a back-drop for social games …
AKRON/TALLMADGE, OHIO — Namdar Realty Group has acquired Midway Plaza Shopping Center, a 165,450-square-foot retail property in Ohio, for $1.2 million. A private investment partnership sold the center, which is located on the Akron/Tallmadge city line. The single-story property is situated on an 18.8-acre site. Current tenants at Midway Plaza include Rent-A-Center, Petra Middle Eastern Foods supermarket, Save-A-Lot, A & A Beauty Supply, Doll House, Liberty Tax Service, Appliance Mart Parts & Repair and Goodwill. Joel J. Gorjian represented Namdar in the transaction.
