Retail

1600 Commons Trader Joe's Nordstrom Rack Fort Lauderdale

Halvorsen Holdings Breaks Ground on Trader Joe’s-Anchored Center in Fort Lauderdale

by John Nelson May 1, 2015

FORT LAUDERDALE, FLA. — Halvorsen Holdings has begun construction on 1600 Commons, a shopping center anchored by Trader Joe’s and Nordstrom Rack. The in-fill development will be the first Fort Lauderdale stores for the two retailers. The 80,000-square-foot center is located along Federal Highway between Oakland Park and Sunrise Boulevard. Halvorsen Holdings purchased the existing Toys “R” Us and Office Depot on the site and begun demolition to make way for the 12,500-square-foot Trader Joe’s and a new prototype for a 15,500-square-foot Office Depot. The two-story Nordstrom Rack will span 36,000 square feet. Other committed tenants include Mattress Firm, T-Mobile, Hair Cuttery and Anthony’s Coal Fired Pizza.

May 1, 2015

New Jersey Northeast Retail

Marcus & Millichap Brokers Sale of 34,573 SF Retail Property

by Amy Works May 1, 2015

CRANFORD, N.J. — Marcus & Millichap has brokered the sale of Cranford Square, a retail property located in Cranford. The 34,573-square-foot property sold for $7.5 million. The fully leased center is occupied by Dunkin Donuts, UPS and Dollar General, among others. Michael Lombardi, Robert Angus and Julienne Pape of Marcus & Millichap represented the seller, a private investor, in the transaction. Lombardi and Angus also represented the undisclosed buyer.

May 1, 2015

New Jersey Northeast Retail

Staples Opens at North Village Shopping Center in New Jersey

by Amy Works May 1, 2015

NORTH BRUNSWICK, N.J. — Staples has opened its newest New Jersey location at North Village Shopping Center in North Brunswick. With the opening of the 14,000-square-foot store, the shopping center is 100 percent occupied. Other tenants are Bed Bath & Beyond, Barnes & Noble, Michaels, Eastern Mountain Sports, Panera Bread, Smashburger, Chili’s, A&G Fine Foods and Rossopomodoro Ristorante. Levin Management serves as the exclusive leasing and managing agent for the 132,000-square-foot center.

May 1, 2015

Colorado Retail Western

Glowgolf Opens at the Promenade Shops at Centerra in Loveland

by Nellie Day April 30, 2015

LOVELAND, COLO. – Glowgolf has opened a 36-hole miniature golf course at the Promenade Shops at Centerra in Loveland. The indoor, glow-in-the-dark course also has an area for birthday parties and group events. The Promenade is located at 5971 Sky Pond Drive. It is managed by Poag Shopping Centers LLC.

April 30, 2015

Illinois Midwest Retail

The Boulder Group Arranges $10.7M Sale of Walgreens in Metro Chicago

by Danielle Everson April 30, 2015

OAK LAWN, ILL. — The Boulder Group has arranged the $10.7 million sale of a new single-tenant, triple-net-leased Walgreens property in Oak Lawn. The property is located at the southwest corner of 95th Street and Southwest Highway. The 61,909-square-foot Walgreens property replaces a previous Walgreens store that lacked a drive-thru. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The seller was a Midwest-based developer and the buyer was a Northeast-based family office. The 20-year lease features 11 five-year renewal option periods.

April 30, 2015

Illinois Midwest Mixed-Use Multifamily Retail

Waterton Associates Acquires Pensacola Place Apartments on Chicago’s North Side

by Danielle Everson April 30, 2015

CHICAGO — Waterton Associates LLC has acquired Pensacola Place, a 264-unit mixed-use property in Chicago’s Uptown neighborhood. The seller was undisclosed. Built in 1981, the Stanley Tigerman-designed building includes a mix of studio, one- and two-bedroom apartments, as well as 12 two-bedroom townhomes overlooking the property’s fourth-level sundeck. The property includes more than 81,000 square feet of retail space anchored by a recently renovated Jewel-Osco grocery store on the lower level of the building. Waterton will make upgrades to individual residences and also plans to update the community’s common areas. Waterton will serve as the manager for the property.

April 30, 2015

Midwest Retail Wisconsin

Siegel-Gallagher Arranges Sale of 2,366 SF Retail Building in West Allis, Wis.

by Danielle Everson April 30, 2015

WEST ALLIS, WIS. — Siegel-Gallagher has arranged the $304,000 sale of a 2,366-square-foot retail building in West Allis. Forward Dental West Allis is located at 8801 W. National Ave. Zeon Properties LLC purchased the property from The Oliver E. Moths Estate LLC for an undisclosed sales price. Patrick Gallagher, Matson Holbrook and Max Schultz of Siegel-Gallagher represented the seller.

April 30, 2015

New York Northeast Retail

RKF Arranges $11M Sale of Retail Condo in NYC

by Amy Works April 30, 2015

NEW YORK CITY — RKF has arranged the sale of a retail condominium located at 50 Bond St. in New York City’s NoHo district. Thor Equities purchased the 6,400-square-foot property from Stewart & Sons for $11 million. The property features seven units with 13-foot ceilings on the ground floor and more than 30 feet of frontage on Bond Street. Eva Scrivo Salon currently occupies the ground-floor retail space. Brian Segall of RKF represented both parties in the transaction.

April 30, 2015

Whole Foods St. Matthews Louisville Bluegrass Manor Shopping Center

Kentucky Retail Southeast

Faris Lee Investments Brokers $46.1M Sale of Whole Foods-Anchored Center in Metro Louisville

by John Nelson April 30, 2015

ST. MATTHEWS, KY. — Faris Lee Investments has brokered the $46.1 million sale of Bluegrass Manor Shopping Center, a Whole Foods-anchored shopping center in St. Matthews, a suburb of Louisville. The property’s retail tenant roster includes Toys “R” Us and LA Fitness. The Whole Foods Market is the only Whole Foods in the Louisville area. Rick Chichester and Donald MacLellan of Faris Lee represented the seller, P&P, and the buyer, The Hocker Group, in the transaction. The property sold at a 6.65 percent cap rate.

April 30, 2015

North Carolina Retail Southeast

EDENS Acquires Grocery-Anchored Shopping Center in Charlotte

by John Nelson April 30, 2015

CHARLOTTE, N.C. — EDENS, a shopping center owner, developer and operator based in Columbia, S.C., has purchased Myers Park Center in Charlotte for an undisclosed price. The 75,075-square-foot shopping center is anchored by a two-story Harris Teeter and is located in Charlotte’s affluent Myers Park neighborhood. EDENS owns other shopping centers in Charlotte, including Park Road Shopping Center, Atherton Mill and Kenilworth Commons.

April 30, 2015

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