Retail

Meridian Negotiates $8.8M Sale of 44-Unit Mixed-Use Property in the Bronx

by Amy Works April 22, 2016

NEW YORK CITY — Meridian Investment Sales has arranged the sale of a mixed-use property located at 600 E. 178th St. in the Bronx. The six-story, elevator-serviced building sold for $8.8 million, equivalent to a 5.5 percent cap rate. Located in the Tremont neighborhood, the 47,200-square-foot property features 45 residential units and six retail units. Mark Steinmetz of Meridian Investment Sales represented the buyer and seller in the transaction. The names of the buyer and seller were not released.

April 22, 2016

California Loans Retail Western

Cushman & Wakefield Closes $46M in Refinancing for Montecito Plaza in San Rafael

by Nellie Day April 21, 2016

SAN RAFAEL, CALIF. — Cushman & Wakefield’s Mortgage Services has closed a $46 million refinancing for Montecito Plaza in San Rafael. Located at Third and Grand streets, the shopping center is occupied by Trader Joe’s, Petco, Pier 1 Imports and Rite Aid, among others. Kurt Scheidt and Terry Daly of Cushman & Wakefield arranged the 10-year loan for the borrower, longtime owner/developer Seagate Properties.

April 21, 2016

Arizona Retail Western

CBRE Arranges $13.1M Sale of Tri-City Pavilions in Mesa

by Nellie Day April 21, 2016

MESA, ARIZ. — CBRE has arranged the sale of Tri-CityPavilions, a 96,336-square-foot shopping center anchored by Safeway in Mesa. Bob Young, Glenn Smigiel, Steve Brabant and Rick Abraham of CBRE’s Phoenix office negotiated the transaction on behalf of the seller, J.G. Management Co. of Westlake Village, California. The buyer is Fairfield, N.J.-based Lamar Cos. The property, located at the northeast corner of Dobson Road and Main Street, was 75 percent leased at the time of sale.

April 21, 2016

California Retail Western

First 365 by Whole Foods Market to Open in Los Angeles

by Nellie Day April 21, 2016

LOS ANGELES — 365 by Whole Foods Market is opening its first location on May 25 in the Silver Lake neighborhood of Los Angeles. The location will feature selections from Whole Foods Market’s 365 Everyday Value brand, as well as local and branded products. Additionally, the new store will host several “Friends of 365” offerings through partnerships with by CHLOE., Allegro Coffee Co. and teaBOT, a retail platform that provides custom grab-and-go tea in under 30 seconds. 365 by Whole Foods has also partnered with Loomstate to custom design employee apparel for the stores. Two additional 365 by Whole Foods Market locations will open in 2016 — in Bellevue, Wash., and Portland, Ore. — and up to 10 stores are expected to open in 2017.

April 21, 2016

California Retail Western

California Realty Group Brokers 6,756 SF Retail Lease in Los Angeles

by Nellie Day April 21, 2016

LOS ANGELES — California Realty Group has arranged the lease of 6,756 square feet of retail space at 5100 Wilshire Blvd. in the Hancock Park neighborhood of Los Angeles. Automobile Club of Southern California signed a 10-year deal for the space, which is situated within the Mansfield mixed-use project. The new location is slated to open in the third quarter of 2017. Keith Kleinman and Mark Esses of California Realty Group represented the tenant, while CBRE’s Tim Bower and Gabrielle Lardiere represented the undisclosed landlord in this transaction.

April 21, 2016

Restaurant Retail Texas

Newk’s Eatery to Open Location in San Marcos

by Haisten Willis April 21, 2016

SAN MARCOS, TEXAS — On April 25, fast-casual restaurant chain Newk’s Eatery will open its first location in San Marcos. The brand serves salads, pizzas, sandwiches, soups and desserts seven days a week. Located at 1285 S. I-35 Frontage Road, the restaurant will offer indoor dining for 142 guests and patio dining for 42 more in a 4,405-square-foot space. The San Marcos restaurant will employ about 70 and is the first of five locations planned to open in the Austin metro area by 2019.

April 21, 2016

Florida Loans Multifamily Retail Seniors Housing Southeast

NorthMarq Capital Secures $40.7M in Financing for Three Properties in Florida

by John Nelson April 21, 2016

TAMPA, FLA. — NorthMarq Capital has arranged $40.7 million in financing for a seniors housing property, apartment community and a shopping center in Florida. The properties include Twin Creeks Assisted Living, a 96-bed seniors housing property under construction in Riverview; Lakehouse Luxury Apartments, a 125-unit apartment property located at 3003 S. Frontage Road in Plant City; and Publix at Summerfield Crossings, a 69,917-square-foot shopping center located at 13146 U.S. Highway 301 South in Riverview. Robert Hernandez of NorthMarq Capital’s Tampa office arranged the loans. The financing included a three-year, $14.2 million, interest-only construction loan for the Twin Creeks property on behalf of the borrower, Lithia Assisted Living LLC; a 10-year, $12.5 million, Fannie Mae loan with a 30-year amortization schedule for the refinancing of Lakehouse Luxury Apartments on behalf of Lakeside Gardens of Plant City LLC; and a 10-year, $14 million loan with a 30-year amortization schedule for the refinancing of Publix at Summerfield Crossings on behalf of the borrower, Big Bend Group LLC.

April 21, 2016

Retail Southeast Virginia

KLNB Retail Brokers Sale of Grocery-Anchored Shopping Center in Alexandria

by John Nelson April 21, 2016

ALEXANDRIA, VA. — KLNB Retail has brokered the sale of New Grand Shopping Center, a 65,330-square-foot shopping center located at 6229-6259 Little River Turnpike in Alexandria, roughly 10 miles outside of Washington, D.C. The center was fully leased at the time of sale and anchored by New Grand Mart, an international supermarket that specializes in Korean, East Asian, Latino and African groceries. Other tenants include Pho Factory, TempAsian Café, Hee Been Restaurant, Panaderia Latina, Mamas Chicken, Kabob Restaurant, Halal Meats, a dry cleaner, laundromat, men and women’s hair salons and a beauty supply store. Andy Stape and Vito Lupo of KLNB Retail represented the seller, Grand Shopping Center LLC, and procured the buyer, a private real estate fund advised by Crow Holdings Capital-Real Estate. The sales price was not disclosed.

April 21, 2016

Indiana Midwest Retail

Pine Tree Acquires Town Square Shopping Center in Northwestern Indiana for $23M

by Christina Cannon April 21, 2016

SCHERERVILLE, IND. — Pine Tree Commercial Realty LLC has acquired Town Square shopping center, a 138,571-square-foot center located approximately 15 miles southwest of Gary, for $23 million. Bed Bath & Beyond and TJ Maxx anchor the center, which is also home to tenants including Old Navy and Shoe Carnival. The acquisition was brokered by HFF, and Wells Fargo provided financing. The seller in the transaction was undisclosed.

April 21, 2016

Michigan Midwest Retail

Northville Park Place in Michigan Secures New Retail Tenants

by Christina Cannon April 21, 2016

NORTHVILLE, MICH. — Schostak Brothers & Co. and REI Investment Group Inc. have secured several new leases at Northville Park Place, a 500,000-square-foot mixed-use development located at the intersection of Seven Mile and Haggerty roads in Northville, approximately 30 miles northwest of Detroit. Trader Joe’s will occupy an outparcel once construction on the 12,500-square-foot building is completed in the first quarter of 2017. Other recent lease signings include DentalWorks leasing 3,097 square feet, One Society inking a deal for 2,694 square feet and Brain Balance Achievement Centers leasing 2,595 square feet. All three tenants are expected to be open by this fall. Current tenants at the center include MOD Pizza, Tom + Chee, Chipotle, Red Olive, SVS Vision Optical Centers, Jimmy John’s, Sherwin Williams, Gazelle Sports, Orangetheory Fitness, BurgerFi, Rusty Bucket, Sports Clips and Granite City Food & Brewery.

April 21, 2016

Newer Posts

Older Posts