Retail

Paragon Commercial Acquires Airport Plaza in Burbank for $37M

by Nellie Day October 25, 2016

BURBANK, CALIF. — Paragon Commercial Group has acquired the leasehold and fee interests in Airport Plaza, a 135,039-square-foot shopping center located in Burbank, for $37 million. Tenants at the center include Hobby Lobby, Toys ‘R’ Us, O’Reilly Auto Parts and Burger King. Bill Bauman and Kyle Miller of Savills Studley represented the sellers, Airport Plaza Inc. and Alton Jennings Trust, in the transaction. Savills Studley also represented the buyer, which plans to redevelop and reposition the shopping center.

October 25, 2016

Colorado Retail Western

CraftWorks Purchases Seven Old Chicago Pizza Restaurants

by Nellie Day October 25, 2016

BROOMFIELD, COLO. — CraftWorks Restaurants & Breweries Inc., an operator of brewery restaurant chains, has acquired seven existing Old Chicago Pizza & Taproom locations from longtime franchise partner OCI Enterprises Inc. The locations will remain open for business. In 2015, Old Chicago launched its new restaurant prototype — a 5,000-square-foot build with an additional 1,000 to 1,200 square feet of outdoor patio space, a new kitchen and upgraded bar technology. CraftWorks Restaurants & Breweries Inc. features nearly 200 franchised and company-owned restaurants primarily operating under the Old Chicago Pizza & Taproom, Gordon Biersch Brewery Restaurants, Rock Bottom Restaurants & Breweries and ChopHouse & Brewery brands.

October 25, 2016

California Retail Western

SG Blocks Installs Shipping Container-Based Taco Bell in California

by Nellie Day October 25, 2016

LOS ANGELES — SG Blocks and Alvarado Restaurant Group will move a former popup Taco Bell location to its permanent location in the South Gate submarket of Los Angeles. The five-module, 1,080-square-foot restaurant was previously used at the 2016 South by Southwest (SXSW) Conference & Festivals in Austin, Texas. Alvarado Restaurant Group, part of Alvarado Cos., is the franchise owner for the Taco Bell in South Gate. SG Blocks partnered with Alvarado Construction Inc. to install the Taco Bell at its new, permanent location. The companies are currently completing all final utility work, paving and landscaping. Alvarado Cos. currently owns 110 other Taco Bells in Colorado, New Mexico, Texas, Wisconsin and California. The Taco Bell will be open at its permanent home in South Gate by the end of 2016.

October 25, 2016

Arizona Retail Western

PGA TOUR Superstore Plans New Experiential Store in Glendale

by Nellie Day October 25, 2016

GLENDALE, ARIZ. — Golf equipment and apparel retailer PGA TOUR Superstore recently acquired a Sports Authority location in Glendale, with plans to open a store in the building by January 2017. Glendale represents the company’s fifth Arizona location, joining Chandler, North Scottsdale, Scottsdale and Tucson. Each store is staffed with PGA of America teaching professionals and houses up to 14 state-of-the-art swing simulators and hitting bays, putting green, and in-house club making and repair facility. Golf & Tennis Pro Shop Inc., a subsidiary of AMB Group LLC, operates all PGA TOUR Superstores. The company is headquartered in Roswell, Ga.

October 25, 2016

Mixed-Use Multifamily New Jersey Northeast Restaurant Retail

Tucker Development Opens 1M SF Hudson Lights in Fort Lee, New Jersey

by Amy Works October 25, 2016

FORT LEE, N.J. — Tucker Development, in partnership with Kushner Real Estate Group and a fund managed by Ares Management, has opened the first phase of residential apartments and a portion of the retail component at the 1 million-square-foot Hudson Lights project in downtown Fort Lee. Situated at the base of the George Washington Bridge, the 276-unit residential property features a pool, lounge, fitness center, yoga room, kids play area and rooftop terrace and gardens. The developer has also opened an eight-screen, 533-seat iPic movie theater at the project. The theater includes City Perch Kitchen & Bar, an in-theater restaurant that allows guests to order food and drinks from a personal server. Additional signed tenants include Paris Baguette, Gaonnuri Restaurant, Anthony Franco’s Pizza, 16 Handles, CVS/pharmacy, Capital One Bank, CycleBar, SeeSaw, Linwood Wines, European Wax Center, Tutti Nails & Spa and Coldwell Banker.

October 25, 2016

Retail Texas

Van Marcke Trade Supply to Open Two Locations in Fort Worth

by Haisten Willis October 25, 2016

FORT WORTH, TEXAS — Charlie Otte of Rubicon Representation represented Van Marcke Trade Supply in the lease of two retail stores in Fort Worth. On Dec. 1, the company will move into 5,000 square feet at Westside Marketplace located at 9124 Camp Bowie West Blvd. . Jeff Marek of Vision Commercial Real Estate represented the landlord, TIC Westside Holdings LLC, in the lease transaction. On Jan. 1, Van Marcke Trade Supply will move into a 5,000-square-foot space at 5203 McCart Ave., just off I-20. Ann Ngo of Quine & Associates represented the landlord, Sweet Talking LLC, in the lease. Van Marcke Trade Supply is looking to open 16 new stores in the Dallas-Fort Worth Metroplex.

October 25, 2016

Loans Mixed-Use Multifamily New York Northeast Retail

Knighthead Funding Provides $27M Construction Loan for Mixed-Use Project in Forest Hills, New York

by Amy Works October 24, 2016

FOREST HILLS, N.Y. — Knighthead Funding has provided a $27 million first mortgage construction loan to Paraag Sarva for the development of a mixed-use apartment building in Forest Hills. The loan is structured with a 36-month term, a prime-based floating rate and interest-only payments. Slated for completion in 2018, the development will feature 27 one-bedroom units and 19 two-bedroom units, with an average unit size of 975 square feet. Additionally, the property will feature 8,282 square feet of ground-floor retail space and a 23-car subterranean parking garage.

October 24, 2016

California Loans Retail Western

Meridian Capital Group Arranges $18.5M in Financing to Recapitalize Retail Property

by Nellie Day October 24, 2016

SHERMAN OAKS, CALIF. — Meridian Capital Group, on behalf of The Festival Companies, has arranged $18.5 million in financing to recapitalize a retail property located at 4550 Van Nuys Blvd. in Sherman Oaks. The two-year loan features two years of interest-only payments and a one-year extension option. A regional bank provided the capital. Ulta Beauty, Sprint, Luna Grill and Starbucks Coffee occupy the 33,273-square-foot retail property. Seth Grossman and Andy Strauss of Meridian Capital Group arranged the loan for the borrower.

October 24, 2016

California Retail Western

Retail California Brokers Three Retail Leases in Fresno

by Nellie Day October 24, 2016

FRESNO, CALIF. — Retail California has arranged three retail leases totaling 21,258 square feet in Fresno. In the first deal, Rita’s Italian Ice leased 1,133 square feet of retail space within Piazza del Fiore Shopping Center at 1102 E. Champlain Drive from NMSBPCLDHB LP for an undisclosed price. Lewis Smith, Michael Kennedy and Rachael Orlando of Retail California arranged the transaction. In the second deal, Nahal Investments leased 2,125 square feet of retail space at 585 W. Nees Ave. from Hydroelectric Penetrations LP. The lessee plans to open a Smallcakes Cupcakery and Creamery at the location. Michael Arfsten of Retail California represented the tenant in deal. In the third transaction, Total Wine & More leased 18,000 square feet of retail space within Villagio Shopping Center at 7925 N. Blackstone Ave. from Villagio Shopping Center LLC. Lewis Smith of Retail California, along with Scott Riddles of CBRE-Los Angeles, brokered the transaction.

October 24, 2016

Illinois Midwest Mixed-Use Multifamily Restaurant Retail

Lynmark Group to Break Ground on Wheeling Town Center in Wheeling, Illinois

by Amy Works October 24, 2016

WHEELING, ILL. — Lynmark Group is scheduled to break ground on Wheeling Town Center, a mixed-use development in Wheeling, this fall. The development will feature a 300-unit luxury apartment building with a modern amenity package and facilities and 100,000 square feet of retail, restaurants and entertainment venues. The apartment building will offer studio, one-, two- and three-bedroom layouts, a parking garage, courtyard, pool, bocce court, a fire pit, barbecue grills, a covered gazebo bar, putting green, pergola covered dining, lounge areas, and fitness and yoga rooms. The retail portion will be anchored a 40,000-square-foot, 10-screen CMX theater, which is a high-end, dine-in movie theater. Callison/RTKL is serving as lead designer and William A. Randolph is serving as general contractor for the project.

October 24, 2016

Newer Posts

Older Posts