Retail

Square Mile Capital Originates $26.8M Mortgage Loan for Philadelphia Retail Property

by Amy Works November 4, 2015

PHILADELPHIA — Square Mile Credit Partners, an investment fund managed by Square Mile Capital Management, has originated a $26.8 million first mortgage loan for Penrose Plaza in Philadelphia’s southwest submarket. The loan funds the recent acquisition of the 261,000-square-foot, grocery-anchored retail center, along with planned capital expenditures and tenant improvements. A joint venture between Onyx Properties, Abrams Realty & Development and Siguler Guff acquired the property, which is located at 2900-3000 Island Ave., in July 2015. The property is currently 51.5 percent leased to 17 tenants, including ShopRite supermarket, which signed a 20-year lease extension signed at the time of acquisition.

November 4, 2015

Loans New Jersey Northeast Retail

HFF Arranges $14M Refinancing for Lifestyle Retail Center in Central New Jersey

by Amy Works November 4, 2015

CHESTER TOWNSHIP, N.J. — HFF has arranged $14 million in refinancing for The Streets of Chester Shopping Center, a lifestyle retail center in Chester Township. The firm worked on behalf of the borrower, CPP Streets of Chester, to place the 10-year fixed-rate loan with Natixis Real Estate Capital Inc. The borrower plans to use the loan proceeds to retire existing debt previously arranged by HFF. Completed in 2006, the 104,682-square-foot property is tenanted by J.Crew, White House/Black Market, Chicos, Talbots, Ann Taylor, J.Jill, Jos. A. Bank, Charming Charlie, Olympia Sports, Country Casuals and Plow and Hearth. Jon Mikula of HFF arranged the financing.

November 4, 2015

New York Northeast Retail

Island Associates Brokers $7.8M Sale of Land Parcel Huntington

by Amy Works November 4, 2015

HUNTINGTON, N.Y. — Island Associates has brokered the sale of a six-acre land parcel on Jericho Turnpike in Huntington. Matrix/Crest Group acquired the property for $7.8 million. The buyer plans to redevelop the site into a LA Fitness with two or three pad sites. The site offers access to Jericho Turnpike and W. Hills Road, which see more than 35,000 passing cars each day. Roger Delisle of Island Associates represented the seller, a former Rice Chevrolet car dealer, and the buyer in the transaction.

November 4, 2015

Colorado Retail Western

Pinnacle Arranges Sale of Kneaders Bakery and Café in Colorado for $2.6M

by Nellie Day November 3, 2015

HIGHLANDS RANCH, COLO. — Pinnacle Real Estate Advisors LLC has arranged the $2.6 million sale of a newly constructed 3,798-square-foot Kneaders Bakery and Café in Highlands Ranch. Tom Ethington and Rob Edwards of Pinnacle represented the seller in the transaction.

November 3, 2015

Georgia Industrial Multifamily Office Retail Southeast

Colliers International Group Acquires Colliers International Atlanta

by Haisten Willis November 3, 2015

NEW YORK CITY & ATLANTA — Colliers International Group has acquired Colliers International Atlanta. The current shareholders of Colliers Atlanta will continue to retain equity in the business under Colliers’ unique partnership model. Terms of the transaction were not disclosed. Founded in 1967, Colliers International Atlanta offers a full range of services for commercial real estate owners and occupiers. Comprising more than 250 professionals, Colliers International Atlanta provides investment sales, lease brokerage, capital markets, property management and project management to local, regional, national and international clients.

November 3, 2015

Midwest Ohio Retail

Friedman Brokers Sale of 41,780 SF Retail Property in Cleveland, Ohio

by Christina Cannon November 3, 2015

CLEVELAND, OHIO — Friedman Integrated Real Estate Solutions has brokered the sale of a 41,780-square-foot retail property in Cleveland. Brooklyn Centre is located at 3712-3762 W. 125th St. and is situated on 2.9 acres. The retail center was built in 1993 and is comprised of three buildings. The largest building is 29,780 square feet and is configured for a single tenant. The other two buildings are 6,000 square feet each. One facility is for a single tenant, and the other is a multi-tenant building. Tenants in Brooklyn Centre include Rent-A-Center and CVS Pharmacy. Rich Deptula of Friedman represented both undisclosed parties in the transaction.

November 3, 2015

Midwest Minnesota Retail

Marcus & Millichap Brokers $2M Sale of 7,823 SF Retail Property in Minneapolis Suburb

by Christina Cannon November 2, 2015

SHAKOPEE, MINN. — Marcus & Millichap has brokered the sale of Dean Lakes in Shakopee, a southwest suburb of Minneapolis. The 7,826-square-foot retail center, located at 4041-4061 Dean Lake Blvd., sold for $2 million. The property is 100 percent occupied. Tenants include Qdoba, Shakopee Wine and Siriouthay. Matthew Hazelton, Adam Prins, Cory Villaume and Sean Doyle of Marcus & Millichap represented both undisclosed parties in the transaction. Brian Klancke also assisted in procuring and representing the buyer.

November 2, 2015

Retail Texas

M&M Arranges Sale of 42,004 SF Retail Property in Fort Worth

by Haisten Willis November 2, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Woodmont Plaza North, a 42,004-square-foot retail property located in Fort Worth. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Levy also secured the buyer, a private investor. Woodmont Plaza North is located at 6200 McCart Ave. The property is a multi-tenant retail center that is 91 percent occupied. Tenants include EZ Money Payday Loans, Schlotzsky’s Deli, Krispy Catfish, Evolution Games, Agape Church, Maya’s Furniture & More, Century 21, Supercuts, H & R Block, Little Caesar’s, Eddie Bermea State Farm and Cousin’s Barbecue. The center was built in 1982 and sits on 4.1 acres. Woodmont Plaza North is located on McCart Avenue about two miles south of Interstate 20.

November 2, 2015

Retail Texas

HFF Arranges Sale of Power Center in Metro Dallas

by Haisten Willis November 2, 2015

FLOWER MOUND, TEXAS — HFF has arranged the sale of Robertson’s Creek, a 336,402-square-foot power center in the Dallas suburb of Flower Mound. HFF arranged the sale of the property on behalf of the seller, a partnership between TFG Crown Partners and Ball Ventures. Dunhill Partners purchased the asset for an undisclosed amount. Completed in 2007, the 97 percent leased property includes tenants such as Belk, Hobby Lobby, Dick’s Sporting Goods, Old Navy and ULTA Beauty. Situated on 39 acres at 5801-5861 Long Prairie Road, Robertson’s Creek is located less than 30 miles northwest of downtown Dallas and less than 33 miles northeast of downtown Fort Worth. Doug Hazelbaker and Ryan Shore led the HFF investment sales team representing the seller.

November 2, 2015

Retail Texas

Signorelli Co. Breaks Ground on Kroger Marketplace in Metro Houston

by Haisten Willis November 2, 2015

PORTER, TEXAS — The Signorelli Co., has broken ground on a 120,000-square-foot Kroger in Valley Ranch Town Center, a new retail district inside the master-planned community of Valley Ranch. The 1,400-acre community is situated at the intersection of U.S. 59 and the Grand Parkway, just north of Kingwood. Sam’s Club, Academy Sports + Outdoors and several restaurants including Chili’s, Chick-fil-A and El Pollo Loco were the first to be announced in Valley Ranch Town Center. A cinema, which will be one of the anchors of the planned entertainment district along with a 10,000-seat amphitheater, will soon be announced along with other stores and restaurants. A 135-acre park called The Grove will border Valley Ranch. Also part of Town Center is Texan Drive Stadium at Valley Ranch, a football stadium for the New Caney ISD. At final completion, Valley Ranch is planned to include approximately 2,500 homes and townhomes and 1,000 multifamily residences.

November 2, 2015

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