Retail

Mill-and-Main-Maynard-MA

MAYNARD, MASS. — Mesa West Capital has provided Artemis Saracen Investments, a joint venture between Saracen Properties and Artemis Real Estate Partners, with $40.8 million in first mortgage financing to reposition a 1 million-square-foot office campus in Maynard. Loan proceeds will be used to implement an extensive capital improvement and leasing plan that will reposition the property to appeal to a wide variety of users. Formerly known as Clock Tower Place, the newly rebranded Mill & Main is a mixed-use development located 25 miles west of Boston. Planned improvements to the property include updated building systems, pedestrian plazas, a waterfront boardwalk, fitness facilities, boutique retail and gallery venues. Situated on 50 acres, the property includes 12 vintage brick-and-beam-style buildings overlooking a 14-acre mill pond. Constructed in 1847, the site originally served as a woolen mill until 1950 when it was converted to an office park. The property is currently 37 percent leased, including a recently signed lease with Stratus Technologies for 102,000 square feet, which is slated to open this spring. Jay Marshall of HFF arranged the financing.

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957-Utica-Ave-NYC

NEW YORK CITY — Alpha Realty has arranged the sale of a mixed-use property located at 957 Utica Ave. in Brooklyn’s East Flatbush neighborhood. The asset sold for $5.1 million. Built in 2007, the property features 18 apartments, five stores and 26 parking spaces. Jacob Aronov of Alpha Realty, along with a team of brokers from Besen & Associates, represented the undisclosed buyer and seller in the transaction.

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Chuys-san-marcos-texas-springtown-shopping-center

SAN MARCOS, TEXAS — Austin-based Tex-Mex chain Chuy’s has signed a lease to open a restaurant in San Marcos. Chuy’s will open in the Springtown Shopping Center, which is receiving a $27.4 million overhaul by Austin-based Endeavor Real Estate Group. The center is located at 205 W. Hopkins St. along I-35. Chuy’s will occupy 6,500 square feet along with and an outdoor patio. Construction will begin in March, with the restaurant opening sometime this summer. Founded in Austin in 1982, Chuy’s owns and operates 69 full-service restaurants across 14 states. Since 2010, San Marcos’s population has increased by 30 percent

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fairporte-green-shopping-center-la-porte-texas

LA PORTE, TEXAS — Marcus & Millichap has arranged the sale of Fairporte Green Shopping Center, a 48,229-square-foot retail property located in La Porte. Jerry Goldstein of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a partnership in Washington D.C. It was sold to a 1031 exchange buyer from Southern California who assumed an existing CMBS loan. The property is 80 percent occupied and features national medical tenants including U.S. HealthWorks and Fresenius as well as a freestanding Burger King. Its physical address is located at 1309 Fairmont Parkway in La Porte.

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Miami Worldcenter

MIAMI — Miami Worldcenter Associates, in collaboration with The Forbes Co. and Taubman, has unveiled plans for the high street retail promenade and plaza at Miami Worldcenter, a $2 billion, 27-acre mixed-use development located in Miami. The retail component will feature a pedestrian-oriented, open-air streetscape surrounded by residential towers, a hotel and exposition center and a variety of dining and entertainment options. The retail promenade will run from northeast 10th Street to northeast 7th Street, and will be located near a large open-air public plaza set to be developed on 1st Avenue. This plaza will be surrounded by shops and restaurants, and will create a central gathering place and outdoor event space within the complex.

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WOODSTOCK, GA. — BMC Capital has arranged a $1 million cash-out refinance of a McDonald’s and Verizon Wireless store in Woodstock, a northern suburb of Atlanta. Brian Gramlich of BMC Capital’s Dallas office arranged the five-year loan through an unnamed bank of behalf of the borrower. The loan was structured with a fixed 3.63 percent interest rate and a 25-year amortization schedule.

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ASHTABULA, OHIO — The Cooper Commercial Investment Group has brokered the $1.9 million sale of a 16,820-square-foot retail center in Ashtabula, approximately 60 miles northeast of Cleveland. A Cleveland-based private investor sold AT&T Plaza to a Kansas buyer. Tenants at the shopping center include AT&T, Springleaf Financial, Best Cuts and Cashland. Dan Cooper of Cooper Commercial represented the seller in the transaction.

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MINNEAPOLIS — Oppidan Investment Co. has sold the White Bear Marketplace in Minneapolis for an undisclosed price. Oppidan developed the 118,627-square-foot shopping center on a site previously occupied by Kmart. Cub Foods, Planet Fitness, Northern Tool and Starbucks co-anchor the newly constructed retail center. Jim Leary and Jeff Budish of CBRE represented Oppidan Investment Co. in the transaction. The buyer was a regional private investor.

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Winco-foods-Carrolton-trinity-valley-shopping-center

CARROLLTON, TEXAS — WinCo Foods plans to develop an 82,077-square-foot anchor store at Trinity Valley Shopping Center located at the northeast corner of the President George Bush Turnpike and Josey Lane in Carrollton. The new WinCo will be developed at the site of a former Target, which closed in January 2015. Josey Trinity Mills Ltd. acquired the building in October. The site will be demolished in April, and the new WinCo is scheduled to open in early 2017. The project’s leasing team, Matt Luedtke and Steve Gray with The Weitzman Group, along with Cencor Realty Services’ Randy Stebbins and Joe Lea, worked on behalf of the center’s ownership to negotiate the acquisition of the vacant Target and bring in WinCo for the new anchor store. DWC Commercial and Venture Commercial represented the grocer. Trinity Valley Shopping Center opened in the 1970s and remains a retail destination in the trade area. The center incorporates nearly 300,000 square feet of retail space leased to Ulta Beauty, Ross Dress for Less, rue21, Petco, Chili’s, Lane Bryant and Dress Barn. Stebbins will direct the development of the new anchor store on behalf of the center’s ownership. Cencor’s Kathy Detrick is managing the construction of …

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Good-Union-Urban-BBQ-Cityline-Richardson-Texas

RICHARDSON, TEXAS — Good Union Urban BBQ has opened its first location at CityLine, a 186-acre mixed-use project located in the Dallas suburb of Richardson. The restaurant is located on the street level of One CityLine at 1150 State Street, and serves Texas barbecue favorites like USDA prime brisket, pork, sausage, ham, turkey and ribs. Patio seating is available facing the central plaza of the development, allowing guests to enjoy live music and events planned by CityLine. Other recent openings at the development include Nestle Toll House Café by Chip, Top Pot Doughnuts & Coffee, Red Mango, Starbucks Coffee and Tom+Chee. Whole Foods Market, Bite City Grill, Coal Vines, Edoko Sushi and Robata, Fernando’s, Jasper’s and Tricky Fish are scheduled to open at the CityLine later this year.

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