JACKSON, MICH. — Colliers International Detroit has arranged a 5,400-square-foot retail lease for Once Upon a Child, a children’s resale franchise, in Jackson. The space is in Wisner Plaza, located at 1000 N. Wisner St. Kent Butler of Colliers represented the tenant. Max Goldman and Matthew Seeley of Colliers represented the landlord, Wedge Investments Inc., in the lease transaction. Retailer Once Upon a Child buys and sells gently used clothing and baby supplies.
Retail
LAKE GEORGE, N.Y. — Sobert Realty Corp. is renovating and expanding Lake George Plaza from 52,000 square feet to 102,000 square feet. The retail property will become known as The Outlets at Lake George following its grand opening in August. It will be constructed in a clapboard style indigenous to architecture of the upstate region. Current tenants include Polo Ralph Lauren Factory Store, Nautica, Levi's, Bass, Van Heusen and more.
UVALDE, TEXAS — Stan Johnson Co. has brokered the sale of a 41,000-square-foot retail property in Uvalde, a city situated approximately 80 miles west of San Antonio. The multi-tenant property houses Tractor Supply Company and Dollar General and is close to other retailers including HEB, Bank of America and AutoZone. Todd Moore and Jim Gibson of Stan Johnson Co. represented the seller, a private investor, as well as the buyer, a New York-based developer.
LEWISVILLE, TEXAS — The Weitzman Group has arranged a 25,631-square-foot retail lease in Lewisville for Half of Half Name Brand Clothing. The tenant will occupy space within Lakepointe Crossing, a shopping center located at 2416 S. Stemmons Freeway, in proximity to Vista Ridge Mall and the interchange of I-35 and the Sam Rayburn Tollway. Half of Half joins a tenant roster that includes Academy Sports + Outdoors, Conn’s, Garden Ridge, Toys “R” Us, David’s Bridal and Pier 1 Imports. Blake Shipp and Ian Laskowski of The Weitzman Group represented the landlord in the negotiations. Jenco Realty inc. represented Half of Half.
OCEANSIDE, CALIF. — Flags on Mission Shopping Center, a 107,600-square-foot retail center in Oceanside, has sold to Doerken Properties Inc. for $12.6 million. The center is located at 1527 Mission Ave. Marc Dudzik and Bo Havlik of Lee & Associates – North San Diego County represented both the buyer and seller, Mission Avenue Investors, in this transaction.
LOS ANGELES – A 28,323-square-foot bowling alley in Tarzana has received a $5.7-million SBA loan. The 20-year, fixed-rate loan amortizes over 20 years at 4.7 percent. It features an 85 percent loan-to-value. Financing was arranged by Sharone Sabar of Marcus & Millichap Capital Corp.’s Encino office. Steven Schechter of the same office advised the buyer on the purchase.
CHICAGO — Marcus & Millichap has arranged the sale of a 16,000-square-foot retail building entirely occupied by Forever 21 on a net-lease basis. The two-story building, located at 865 W. North Ave in Chicago’s Lincoln Park neighborhood, sold for approximately $15 million. The building includes 8,000 square feet on each floor, a 4,000-square-foot basement and on-site customer parking. Other retailers in the area include Anthropologie, Apple, Best Buy, Crate & Barrel, Restoration Hardware, Sephora, The Container Store, Vitamin Shoppe, Whole Foods and Williams-Sonoma. Stephen Lieberman of Marcus & Millichap represented the buyer, Acadia Realty Trust. Tri-Equities LLC, based in Elk Grove Village, Ill., was the seller.
CHICAGO — JLL Retail will lease a trio of retail properties owned by Simon Property Group that total more than 1 million square feet. The properties, located in the south suburbs of Chicago, include Country Side Plaza, located at the northwest corner of La Grange Road and Joliet Road in Countryside; Lake View Plaza, located at northwest corner of 159th and LaGrange Road in Orland Park; and Matterson Plaza, located at southwest corner of Lincoln Highway and Crawford Ave. in Matterson. Peter Caruso and Ashley Wagoner will represent Simon Property Group in leasing the properties.
MANHATTAN BEACH, CALIF. – A 5,782-square-foot retail property in Manhattan Beach that is triple-net leased to JPMorgan Chase Bank has sold to a private family trust in a 1031 exchange for $6.2 million. The free-standing property is located at 1727 Artesia Blvd. JPMorgan Chase holds a long-term 15-year NNN lease at the property. The buyer was represented by CBRE. The seller, Sackley Family Trust, was represented by Chris Tramontano and Mike Ward of Faris Lee Investments in this all-cash transaction.
LIVONIA, MICH. — Colliers International has arranged the lease of 10,280-square-foot industrial space located at 12050 Hubbard Street in Livonia. John Lominack of Colliers International represented the tenant, BIGA Commissary LLC, a pizzeria restaurant, in the transaction. The space will be used for a commercial kitchen to support BIGA Commissary’s expanding restaurant operations.