Retail

Cushman & Wakefield Arranges $11.5M Sale of Retail Center in New Jersey

by Amy Works January 27, 2016

SECAUCUS, N.J. — Cushman & Wakefield has brokered the sale of a retail center located at 55 Hartz Way in Secaucus. The two-story, 74,000-square-foot property sold for $11.5 million, or $155 per square foot. Current tenants of the property include Escada, Nine West, Kasper, Fraganetics and Design Within Reach Outlet. Situated on 5.8 acres, the property is located within Secaucus Outlet Center with close proximity to various retail outlets, including Gucci, Calvin Klein, Nautica, Kenneth Cole, The Children’s Place and Tommy Hilfiger. Dmitry Shaplyka and Fahri Ozturk of Cushman & Wakefield represented the seller, while David Cantor of Team Resources represented the buyer in the deal. The names of the seller and buyer were not released.

January 27, 2016

Mixed-Use Multifamily New York Northeast Retail

Eastern Consolidated Brokers $3.2M Sale of Mixed-Use Property in Brooklyn’s Clinton Hill

by Amy Works January 27, 2016

NEW YORK CITY — Eastern Consolidated has arranged the sale of a mixed-use property located at 507 Myrtle Ave. in Brooklyn’s Clinton Hill neighborhood. Klosed Properties acquired the property from 507 Myrtle LLC for $3.2 million. The three-story, 3,762-square-foot property consists of two retail stores and four apartments. Additionally, the property offers 10,000 square feet of buildable square feet for future development. Akil Rossi of Eastern Consolidated represented the seller and buyer in the off-market deal.

January 27, 2016

Mixed-Use Multifamily New York Northeast Retail

Eastern Consolidated Arranges $7.1M Sale of 10,394 SF Mixed-Use Property in Brooklyn

by Amy Works January 26, 2016

NEW YORK CITY — Eastern Consolidated has brokered the sale of a mixed-use property located at 109-111 Franklin St. in the Greenpoint neighborhood of Brooklyn. An international investor acquired the 10,394-square-foot property from a longtime owner for $7.1 million, or $683 per square foot. The four-story walk-up features 12 two-bedroom, rent-stabilized apartments and four fully leased retail units. Jonathan Schwartz of Eastern Consolidated represented the seller and buyer in the off-market transaction.

January 26, 2016

Mixed-Use Multifamily New York Northeast Office Retail

Marcus & Millichap Arranges $4.5M Sale of Development Site in Brooklyn

by Amy Works January 26, 2016

NEW YORK CITY — Marcus & Millichap has brokered the sale of a development site at 570 Nostrand Ave. in Brooklyn. The 4,550-square-foot site sold for $4.5 million, or $246 per buildable square foot. Jakub Nowak and Jason Grunberg of Marcus & Millichap represented the seller, a limited liability company, and the buyer, a developer, in the transaction.

January 26, 2016

Hospitality Mixed-Use Multifamily Retail Texas

The Kor Group Acquires Land for Austin Proper Hotel and Residences

by Haisten Willis January 26, 2016

AUSTIN, TEXAS — The Kor Group has purchased land for the future home of Austin Proper Hotel and Residences. The development will be a 32-story mixed-use building containing 99 for-sale residences, 244 hotel guest rooms, four food and beverage outlets, 11,500 square feet of meeting space, a spa, fitness center and two outdoor swimming pools. Construction is scheduled to begin in spring 2016 and end in early 2018. In addition to the land acquisition, the Austin Proper Residences sales gallery, located nearby at 208 Colorado St., debuted on Jan. 21, 2016, with a grand opening celebration scheduled for Feb. 5 and 6. Will Steakley of DEN Property Group will manage sales for the Austin Proper Residences, which will begin taking contracts this month. Proper Hospitality will operate the Austin Proper Hotel as part of the Proper Hotels brand. Designer Kelly Wearstler is creating the interior design for the project, McGuire Moorman Hospitality is developing and operating the food and beverage concepts and Handel Architects is responsible for the design of the 32-story high-rise.

January 26, 2016

Hospitality Mixed-Use Multifamily Office Retail Texas

StreetLevel, Provident Realty Purchase Former Texas Instruments Campus for $500M Mixed-Use Development

by Haisten Willis January 26, 2016

STAFFORD, TEXAS — Dallas-based StreetLevel Investments and joint venture partner Provident Realty Advisors have purchased 192 acres in Stafford, including the former Texas Instruments (TI) campus. The firms plan to create a mixed-use development at the site that will feature 350,000 square feet of destination retail space, 2,400 residential units, Class A office space, two hotels, a health club, entertainment and green space in a walkable urban center. The finished product will include parking garages as well as street parking. Portions of the original TI buildings will be preserved and repurposed. Houston-based Gensler and TBG are project consultants. The first phase of the $500 million, multi-phase project is slated to open summer 2017.

January 26, 2016

Retail Texas

SOAP Hand Car Wash to Open in Houston

by Haisten Willis January 26, 2016

HOUSTON — SOAP Hand Car Wash has leased a 31,446-square-foot outparcel at Shoppes at Memorial Villages, located at I-10 and Wirt Road in Houston. SOAP Hand Car Wash is a local Houston business owned by J. Ryan Alcorn. SOAP uses as few as 10 gallons of water per wash, while the average tunnel car wash uses between 40 and 55 gallons, and washing a car at home can use 100 gallons or more. SOAP is scheduled to open this summer. The landlord, Weingarten Realty Investors, was self-represented by Brody Farris in the deal. Clay Graham of Fox & Graham Real Estate represented SOAP.

January 26, 2016

Georgia Retail Southeast

BayView Advisors Arranges $9.2M Sale of Self Storage Portfolio in Metro Atlanta

by John Nelson January 26, 2016

MABLETON AND CONYERS, GA. — BayView Advisors has arranged the $9.2 million sale of a two-property portfolio of Pak-It-Inn self storage facilities in the Atlanta suburbs of Mableton and Conyers. The portfolio includes 155 climate controlled units, 727 non-climate controlled units and one retail unit. Jay Crotty and Thomas Doyle of BayView Advisors represented the seller, Pak-It-Inn Self Storage Inc., and the buyer in the transaction.

January 26, 2016

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Brokers $2.6M Sale of Development Site in Brooklyn

by Amy Works January 25, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use development site located at 622 Myrtle Ave. in Brooklyn. The asset sold for $2.6 million, or $277 per buildable square foot, in an all-cash transaction. The site offers approximately 9,384 buildable square feet. The site is currently improved by a 5,188-square-foot mixed-use building consisting of two residential units and one retail unit. Michael Amirkhanian of Cushman & Wakefield brokered the transaction. The names of the seller and buyer were not released.

January 25, 2016

Northeast Pennsylvania Retail

Cost Plus World Market Opens First Store in Suburban Philadelphia

by Amy Works January 25, 2016

MONTGOMERYVILLE, PA. — Cost Plus World Market has opened its first store in Montgomeryville, a suburb of Philadelphia. Located at 751 Horsham Road within the Water Tower Square Shopping Center, the store will feature an eclectic assortment of unique and authentic home furniture, décor, tabletop items, jewelry and accessories, and gourmet food. The store’s grand opening celebration will be held on Thursday, Jan. 28. Cost Plus World Market operates 279 stores in 35 states under the World Market and Cost Plus World Market trademarks.

January 25, 2016

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