Retail

Ready Capital Closes Three Loans Totaling $15.9M in California, Nevada

by Nellie Day February 19, 2016

LOS ANGELES AND LAS VEGAS — Ready Capital Structured Finance has closed three loans throughout California and Nevada for a total of $15.9 million. Properties that received financing include a 24-unit multifamily community in Beverly Hills that will use the funds for renovation and stabilization; a 499-unit self-storage facility in Corona that will use the funds for refinancing and stabilization; and a 32,800-square-foot retail center in Las Vegas that will use the funds for the development and stabilization of the property.

February 19, 2016

Florida Retail Southeast

Franklin Street Brokers $9M Sale of Shopping Center in Metro Miami

by John Nelson February 19, 2016

HOMESTEAD, FLA. — Franklin Street has brokered the $9 million sale of Dixie Center, a grocery-anchored shopping center located at 30200-30394 Old Dixie Highway in Homestead, a city in Miami-Dade County. Built in 1985, the shopping center was 93 percent leased at the time of sale to tenants such as Winn-Dixie and Family Dollar. The sale includes three outparcels totaling 2.7 acres. The buyer, a private investor from Canada, financed the acquisition with a CMBS loan, which was sourced by FM Capital. Pete Crane, Greg Matus and Robert Granda of Franklin Street represented the seller, Palm Beach Gardens, Fla.-based Noble Properties. Franklin Street’s Insurance Services team arranged insurance for the buyer, which has retained Franklin Street to lease and manage the shopping center.

February 19, 2016

Loans Nevada Retail Western

Meridian Arranges $20 Million in Acquisition Financing for Walgreens on Las Vegas Strip

by Nellie Day February 18, 2016

LAS VEGAS — Meridian Capital Group has arranged $20 million in financing for the acquisition of a single-tenant, 16,000-square-foot Walgreens located on the Las Vegas Strip. Steven Tessler of Meridian secured the 10-year, interest-only loan through a balance sheet lender. The property is located at 3025 S. Las Vegas Blvd. near the Wynn and Encore hotels. The buyer and seller were not disclosed.

February 18, 2016

California Retail Western

Retail Center Totaling 71,490 SF in Chula Vista Sells for $8M

by Nellie Day February 18, 2016

CHULA VISTA, CALIF. — Interstate 5 Center LLC has acquired a 71,490-square-foot retail center located at 1008 Industrial Blvd. in Chula Vista for $8 million. Toys ‘R’ Us occupies 42,540 square feet at the center, while two buildings totaling 28,950 square feet currently remain vacant. Chris Amble and Brian Chambers of Wells Fargo Bank arranged financing for the transaction. A redevelopment and lease-up is currently planned for the site.

February 18, 2016

Colorado Retail Western

OliverMcMillan, Invesco Acquire Clayton Lane in Denver

by Nellie Day February 18, 2016

DENVER — OliverMcMillan, in partnership with Invesco Real Estate, has acquired Clayton Lane, a mixed-use property located in Denver’s Cherry Creek North, for an undisclosed price. Whole Foods Market and Crate & Barrel anchor Clayton Lane, which features over 182,000 square feet of retail across six separate buildings. The property also features underground parking.

February 18, 2016

Retail Texas

Bright Realty Sells Two Acres in Metro Dallas

by Haisten Willis February 18, 2016

LEWISVILLE, TEXAS — Bright Realty has sold a two-acre pad site in the Castle Hills area just off State Highway 121 in Lewisville. The pad site is located at the southeast corner of Josey Lane and Windhaven Parkway. The corner will be anchored by an ALDI grocery store and is adjacent to Nebraska Furniture Mart and The Realm, a planned 1.5 million-square-foot mixed-use Bright Realty development. An unnamed buyer purchased the pad site. Bright Realty was self-represented in the sale by Tim McNutt and Britton Lankford.

February 18, 2016

New York Northeast Retail

Cushman & Wakefield Brokers $11.2M Sale of Retail Condo in Tribeca

by Amy Works February 18, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a retail condominium located at 37 Warren St., also known as 136 Church St., in Manhattan’s Tribeca neighborhood. HUBB NYC Properties acquired the corner property for $11.2 million, or $3,934 per square foot, in an all-cash transaction. The property features 2,847 square feet on the ground level and 1,364 square feet on the lower-level space. The property was vacant at the time of sale. Will Suarez of Cushman & Wakefield arranged the transaction.

February 18, 2016

Healthcare Office Retail Texas

Texas Health Surgery Center Renews Medical Office Lease in Dallas

by Haisten Willis February 18, 2016

DALLAS — Texas Health Surgery Center has renewed its lease of 8,285 square feet and expanded to another 5,546 square feet at Preston Plaza in Dallas. An affiliate of Caddo Holdings LLC owns Preston Plaza, a retail center. Kyle Jacobs of Rubicon Representation LLC represented the tenant. Heather Shover and Sean Dalton at Younger Partners represented the landlord.

February 18, 2016

Massachusetts Northeast Retail

Faris Lee Investments Arranges $6.6M Sale of Retail Property in Massachusetts

by Amy Works February 18, 2016

FRANKLIN, MASS. — Faris Lee Investments has brokered the sale of Franklin Shops, a newly developed retail property located at 648 Old W. Central St. in Franklin. A private investor acquired the property from a private developer for $6.6 million. Starbucks Coffee, Noodles Co. and MedPost Urgent Care occupy the 8,911-square-foot property, which was completed in 2015. All three tenants have new, 10-year net leases in place. Matthew Mousavi and Patrick Luthre of Faris Lee Investments represented the seller in the transaction.

February 18, 2016

Cooks-Corner-Shopping-Center-Brunswick-ME

Maine Northeast Retail

Katz Properties Acquires 302,000 SF Shopping Center in Maine for $13.2M

by Amy Works February 17, 2016

BRUNSWICK, MAINE — Katz Properties has acquired Cook’s Corner Shopping Center, a 302,000-square-foot shopping center in Brunswick, for $13.2 million. Situated on 32.5 acres, the property is occupied by a diverse tenant mix including Sears, Regal Cinema, Big Lots, TJ Maxx, Staples, Dollar Tree, Applebee’s, Dunkin’ Donuts and Five Guys Burgers & Fries. At the time of sale, the property was 84 percent occupied. Acquisition financing was provided by Blue Hills Bank of Massachusetts and arranged by Tim Breda and Peter Kenn of Goedecke & Co. Geoffrey Millerd and Justin Smith of Newmark Grubb Knight Frank represented the undisclosed seller in the transaction.

February 17, 2016

Newer Posts

Older Posts