DANIEL ISLAND, S.C. — Crossman & Co. has brokered the sale of Daniel Island Town Center, a Publix-anchored, 68,688-square-foot shopping center located on Seven Farms Drive in Daniel Island in metro Charleston. The property was 98 percent occupied at the time of sale. Publix Super Markets Inc. purchased the shopping center from an unnamed institutional group based in the Northeast for nearly $14 million.
EULESS, TEXAS — Cinépolis USA has signed a lease for 52,000 square feet in the second phase of Glade Park, a new power retail project located at the southwest corner of SH-121 and Glade Road in Euless. Blake Shipp of The Weitzman Group handled negotiations for Cinépolis USA as the theater chain’s tenant representative in metro Dallas. Neil Baron represented the cinema chain as its in-house representative. Cinépolis USA will develop a multi-screen cinema at Glade Park that will feature automated recliners, a bar and gourmet snacks. The location is set to open in summer 2017.
NEW YORK CITY — Triangle Equities has broken ground on Lighthouse Point, a $200 million mixed-used project on the St. George waterfront in Staten Island. Triangle, along with its partner, Lubert Adler LLP, secured construction financing for the first phase of development. The project is being financed through a partnership of private and public sector groups, including $30 million of construction loans and tax credit equity from the Goldman Sachs Urban Investment Group, $29 million of construction loans from Citizens Bank, $16.5 million from Empire State Development, $6.2 million of capital from New York City, and joint venture equity from Triangle and Lubert Adler. The first phase, which is slated for completion in 2017, will feature 65,000 square feet of retail and office space, as well as restaurant space, entertainment space and a 12-story residential tower with 116 apartment units. Regus, a shared workspace provider, has signed a 15-year lease to occupy 30,000 square feet of space at the first phase. Following completion of the first phase, Triangle will rehabilitate and repurpose the four historic structures, historic wall and multiple underground vaults currently situated on the site. This repurposing will allow for additional restaurant, office and hospitality space, including a …
NEW YORK CITY — Treetop Development has acquired a development site located at 121-129 E. 144th St. in the Mott Haven section of the Bronx for an undisclosed sum. Situated in a special mixed-use district zoning area (MX-13), the property has 68,326 buildable square feet as-of-right, with the option to develop up to 91,000 square feet by utilizing the inclusionary housing bonus. Treetop, a multifamily owner and investor focused on renovating and developing market-rate properties in New York City, is in the process of determining the best use for the site. Jason Gold, Victor Sozio, Scot Hirschfield, Marko Agbaba and Michael Tortorici of Ariel Property Advisors represented the undisclosed seller and procured the buyer in the transaction.
NEW YORK CITY — Westbridge Realty Group has arranged four sales in New York City totaling $8.5 million. In the first transaction, Baycrest Management acquired a multifamily property with 27 apartments and one retail unit from Emritas Realty LLC for $3.9 million. The building is located at 633 E. 186th St. in the Belmont section of the Bronx. Steven Westreich represented the buyer and seller in the deal. In the second transaction, 2 Stanwix LLC purchased a 3,510-square-foot mixed-use property located at 2 Stanwic St. in Brooklyn’s Bushwick neighborhood for $2 million, or $570 per square foot. Adam Traub of Westbridge represented the buyer, while Hen Vaknim, also of Westbridge, represented the seller, 2S, in the transaction. In the third deal, East Williamsburg Powers LLC acquired a 3,750-square-foot apartment building, located at 280 Powers St. in Brooklyn’s Williamsburg section, for $1.4 million. Westreich represented the buyer, while Traub represented the undisclosed seller. In the final transaction, Westreich represented the buyer and seller in the $1.2 million exchange of 345 Montgomery Street in Brooklyn. The assets, which include eight unsold coop rent-stabilized units, sold for $158 per square foot. The names of the buyer and seller were not released.
LAKEWOOD, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Colfax & Kipling Center, a 6,518-square-foot retail center located in Lakewood for an undisclosed price. The property is fully leased to Starbucks Coffee, Kolache Factory and Cricket Mobile. Rob Edwards and Tom Ethington of Pinnacle brokered both sides of the off-market transaction.
SLIDELL, LA. — Stirling Properties and CBL & Associates Properties Inc. have added four new retailers to Phase II of Fremaux Town Center, a regional shopping and entertainment destination totaling more than 630,000 square feet in Slidell, a suburb of New Orleans. The project is located on more than 80 acres at the southwest corner of I-10 and Fremaux Avenue. The new tenants joining Fremaux this spring include Books-A-Million (7,500 square feet), Allure Nail Spa (1,944 square feet), LensCrafters (3,830 square feet) and 5 Below (8,024 square feet). Additionally, Springs at Fremaux Town Center, a 296-unit apartment complex, is expected to deliver in March. Other previously announced tenants joining this year include Pier 1 Imports, Capital One, Aveda, Goodyear and Chico’s. Tesla Motors has also completed installing eight charging stations at the development. Existing tenants of Phase II include Red Robin, Zales, Francesca’s, Off Broadway Shoe Warehouse, Victoria’s Secret, Buckle, Charlotte Russe, LOFT, Bath & Body Works, Journeys, Claire’s and Which Wich.
DENVER — Massage Heights, a leader of therapeutic massage and facial services, opened nearly two dozen locations in 2015. Ramping up franchise expansion, Massage Heights plans to open 40 locations this year and have 300 open by the end of 2018. As part of its growth strategy, the brand plans to develop franchised locations in cities like Denver, San Diego and Las Vegas in 2016. Additionally, Massage Heights is seeking area developers to grow the brand in Sacramento, Calif., Los Angeles and Salt Lake City.
FORT MYERS, FLA. — Colliers International has brokered the sale of the 20,632-square-foot Shops at Jamaica Bay in Fort Myers. Central Line Properties purchased the center from New York-based Orbis Properties for $4.2 million. The property’s tenant roster includes AT&T, Allstate, Provident Jewelry, Zoom Tan, Rosati’s Pizza and Sports Bar, Merle Norman Cosmetics and Touch Salon. Built in 2007, the shopping center is located at the intersection of Tamiami Trail and Jamaica Bay Boulevard at 15245 Tamiami Trail.
KANSAS CITY, MO. — Schottenstein Property Group Inc. has acquired a 142,600-square-foot retail center in Kansas City for $17.5 million. Retail Properties of America Inc. sold the asset, Stateline Station, which is 85 percent leased. The property, constructed in 2004, is anchored by Marshalls, Cost Plus World Market and a separately owned Super Target. Other retailers include Petco, Tuesday Morning, Mattress Firm, Pier 1 Imports and Dollar Tree. The shopping center is located at the intersection of Highway 150 and West 135th Street in an affluent area of Kansas City where the average household income in a three-mile radius of the center is $130,141. Amy Sands, Barry Brown and Clinton Mitchell of HFF represented the seller in the transaction.
