Retail

Mid-America Arranges Two Retail Leases Totaling 8,775 SF in Illinois

by Christina Cannon October 29, 2015

CHICAGO AND DEKALB, ILL. — Mid-America Asset Management Inc. has arranged two retail leases in separate transactions in Illinois. Jimmy Jazz has signed a 4,811-square-foot lease at Ford City Mall in Chicago. The 661,644-square-foot shopping mall is anchored by AMC Theatres, JCPenney, Carson’s, Marshalls, Ross Dress for Less and hhgregg. Marget Graham, Maria Rossobillo and Sarah Drumgould of Mid-America represented the landlord. The tenant was self-represented. In the second transaction, Athletico inked a deal for 3,964 square feet at Oakland Place in DeKalb. Other tenants in the 155,730-square-foot facility include Michaels, T.J. Maxx, Super Target, DSW Shoe Warehouse and Pier 1 Imports. Katie Hennegan and Paige Schisser of Mid-America represented the landlord. Hyatt Thompson of Swearingen Realty Group LLC represented the tenant.

October 29, 2015

Mixed-Use New York Northeast Office Retail

Quinlan and Building & Land Technology Redevelop The Pioneer Warehouse in Brooklyn

by Jaime Lackey October 28, 2015

NEW YORK CITY — Quinlan Development Group and Building and Land Technology (BLT) are redeveloping the 100-year-old The Pioneer Warehouse at 41 Flatbush Avenue in downtown Brooklyn. The $30 million redevelopment of the 10-story property, which will be renamed The Pioneer Building, will result in approximately 235,000 square feet of modern office space and 25,000 square feet of retail space ready for occupancy in second quarter 2016. Located near the Barclays Center and Atlantic Terminal, The Pioneer Building is well along in a comprehensive redevelopment to enhance the building’s barrel-vaulted terra cotta ceilings, brick walls and ornate limestone façade. The interior finishes and exterior enhancements have been designed by architects Beyer Blinder Belle. New features include new, oversized, energy-efficient windows, state-of-the-art tenant-controlled HVAC units, industrial-sized elevator cabs, a renovated lobby, a landscaped roof terrace with views of all of Downtown Brooklyn and the New York Harbor, and an on-site bicycle storage facility. The property owners have named Bruce Mosler, Mikael Nahmias, and Joseph Cirone of Cushman & Wakefield as exclusive leasing agents.

October 28, 2015

Mixed-Use Multifamily New Jersey Northeast Retail

Margules Properties Buys Five Jersey City Mixed-Use Buildings for $8.5M

by Jaime Lackey October 28, 2015

JERSEY CITY, N.J. — Margules Properties Inc. has purchased five mixed-use buildings in Jersey City for $8.5 million. The company — which owns and manages more than 1 million square feet of development rights in the city’s Journal Square neighborhood — plans to upgrade the buildings to make them more appealing to new retail tenants and millennials looking for apartments near the PATH train. Two of the buildings form a triangle bound by Montgomery Avenue, Orchard Street and Jordan Avenue, in the McGinley Square section of Jersey City. They include a gut-renovated, five-story walk-up building at 52 Orchard Street, with 12 apartments and three stores, and 685 Montgomery Avenue, a three-story mixed-use building with three stores and five apartments. The other buildings include 70 Tonnele Avenue, a 17-unit apartment building; 142 Monticello Avenue, a corner three-story townhouse building with 2,500 square feet of retail space on the first floor and two units with two bedrooms each on the two upper floors; and 2175 JFKennedy Boulevard, a one-story vacant commercial building.

October 28, 2015

Midwest Retail Wisconsin

Quantum Real Estate Brokers $1.3M Sale of Retail Property in Lake Geneva, Wisconsin

by Christina Cannon October 28, 2015

LAKE GENEVA, WIS. — Quantum Real Estate Advisors Inc. has brokered the $1.3 million sale of a 14,091-square-foot retail center in Lake Geneva. The property, located at 800 N. Edwards Blvd., was 70 percent leased at the time of sale. Tenants include Maurice’s, Sally Beauty Supply and Mattress Firm. The undisclosed seller is a Minnesota-based owner, and the undisclosed buyer is a New York-based fund. Chad Firsel and Daniel Waszak of Quantum were the sole brokers in the transaction.

October 28, 2015

Illinois Midwest Retail

Mid-America Arranges Two Retail Leases Totaling 55,883 SF in Illinois

by Christina Cannon October 28, 2015

BLOOMINGTON AND LOMBARD, ILL. — Mid-America Asset Management Inc. has arranged two retail leases in separate transactions in Illinois. Dick’s Sporting Goods has signed a 49,957-square-foot lease at Colonial Plaza in Bloomington. The 241,340-square-foot shopping center also includes Ashley Furniture and Cato Fashions. Katie Hennegan and Samantha Spinell Schnell of Mid-America represented the landlord. Tim Miller and Jon Reese of Great Street Realty represented Dick’s. In the second transaction, Anytime Fitness has inked a deal for 5,926 square feet at Highlands of Lombard in Lombard. Other tenants in the 21,071-square-foot facility include Potbelly Sandwich Shop and Performance Bike. The shopping center is shadow anchored by The Dump. Paige Schiesser, Samantha Spinell Schnell and Angela Gasbarro of Mid-America represented the landlord. Jim Runyon of Franchise Real Estate represented the tenant.

October 28, 2015

Florida Retail Southeast

Dunphy Properties, Batson Cook to Build Publix-Anchored Project in Florida

by John Nelson October 28, 2015

RIVERVIEW, FLA. — Tampa-based Dunphy Properties and Atlanta-based Batson Cook Development Co. have formed a joint venture to build Rivercrest Commons, a grocery-anchored shopping center located at the intersection of U.S. 301 and Symmes Road in Riverview. Publix will anchor the property, which will feature a Publix Liquor Store and an additional 16,100 square feet of inline retail space housing Casablanca Spa, East Wok, Majik Touch Dry Cleaning and Hair Cuttery. Joe Tyszko of Insite Realty’s Clearwater, Fla., office is responsible for leasing the project. Rivercrest Commons is slated for a summer 2016 completion.

October 28, 2015

Mixed-Use Retail Texas

Realty Capital Management Sells Mixed-Use Building in Colleyville

by Haisten Willis October 27, 2015

COLLEYVILLE, TEXAS — Realty Capital Management has sold a 43,000-square-foot mixed-use building located at 5232 Colleyville Blvd. in Colleyville. The buyer, Colleyville Lofts Venture, was a 1031 exchange buyer from New York. The three-story building includes 30 apartments on the upper floors and commercial space on the ground floor occupied by Colleyville Family Medicine, an affiliate of the Baylor Scott & White Health Network. The building, known as The Lofts in Colleyville, is part of the larger 26-acre mixed-use project known as The Village at Colleyville, which was developed by Realty Capital in 2002. Mark Boone represented Realty Capital internally. Bard Hoover of Marcus Millichap represented the buyer.

October 27, 2015

Retail Texas

M&M Arranges Sale of 18,380 SF Shopping Center in North Texas

by Haisten Willis October 27, 2015

VERNON, TEXAS — Marcus & Millichap has arranged the sale of the Family Dollar and Sherwin-Williams Shopping Center, an 18,380-square-foot shopping center located in Vernon. Blake Burnett of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a local partnership. Burnett also procured the buyer, an out-of-state limited liability company. The Family Dollar and Sherwin-Williams Shopping Center is located at 2417 Wilbarger St. Constructed in 1952, the asset is located on 1.3 acres. A tenant since 1979, Family Dollar occupies 15,000 square feet of the space. Sherwin-Williams occupies the remaining 3,380 square feet and has been a tenant since 1990.

October 27, 2015

Midwest Missouri Retail

Sansone Group Reacquires Retail Property for $22M in St. Louis Suburb

by Christina Cannon October 27, 2015

DES PERES, MO. — Sansone Group has reacquired Olympic Oaks Village in Des Peres, a western suburb of St. Louis, for $22 million. Olympic Oaks Village was originally a 7.7-acre, $5.5 million retail development completed by Sansone Group in 1988. The 91,000-square-foot retail center, located a half-mile east of I-270 on Manchester Road, originally included Walgreens, T.J. Maxx, Michaels and the Sansone Group headquarters. In 1998, Sansone sold the building to DDR Corp. for $11.1 million but continued to lease and manage the property before reacquiring it from DDR. The shopping center has gone through several renovations and expansions and now spans 92,372 square feet. Current tenants include European Wax Center, Jersey Mike’s, Rally House, Sally Beauty Supply, Great Clips, Massage Envy, Salon Genesis, Lane Bryant, Edible Arrangements, Nail Pro and Thompson Price Kitchen & Bath.

October 27, 2015

Retail Southeast Virginia

Lidl Purchases Site in Virginia for $3.1M for New Grocery Store

by John Nelson October 27, 2015

FREDERICKSBURG, VA. — Lidl, a grocery retailer based in Germany, has purchased a four-acre land parcel in Spotsylvania County for $3.1 million. Lidl plans to build a 36,000-square-foot grocery store on the site, which is located at the intersection of Gordon Road and Route 3 in Fredericksburg. J.R. Burdette and Jonathan Gardner of Coldwell Banker Commercial Elite represented the seller, Henderson Properties, in the land transaction. This is the second store site purchased by Lidl in Spotsylvania County. In August, Lidl closed on a two-acre parcel in Southpoint II across Southpoint Parkway from Lowe’s Home Improvement and adjacent to 7–Eleven. The company is looking to enter into the U.S market with its first stores planned in Virginia and expected to open no later than 2018. In June, Lidl also purchased an 82-acre parcel to build a major distribution warehouse in Spotsylvania County. The distribution warehouse in Spotsylvania County is planned to be approximately 1 million square feet and cost around $125 million. The facility is also projected to provide 200 local jobs.

October 27, 2015

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