COMMACK, N.Y. — Stein Mart has signed a 30,800-square-foot- lease at the Mayfair Shopping Center in Commack. Jake Frantzman of Levin Management negotiated the transaction. SRS Real Estate Partners represented the tenant. Stein Mart will move into the space formerly occupied by MJM Designer Shoes. A 60,000-square-foot Waldbaum's supermarket anchors the 221,000-square-foot Mayfair Shopping Center.
Retail
HIGHLAND HEIGHTS, OHIO — Osborne Capital Group has arranged a 10-year, $4 million financing with Ladder Capital Finance for the company's Brainard Crossing retail center in Highland Heights, a suburb approximately 15 miles east of Cleveland. Brainard Crossing is located on Wilson Mills Road between Brainard Road and Interstate 271. Brainard Crossing will comprise of the redevelopment of a long-vacant supermarket into a 40,000-square-foot shopping center anchored by Fitworks. The small shop space includes TNT Tanning, Highland Wellness and Grind Burger.
GILBERT, ARIZ. — ZK Grill has leased 2,347 square feet of space at Gilbert Crossing. The center is located at the northeast corner of Guadalupe and Gilbert roads. Other notable tenants include Power MMA & Fitness, Firestone, Meridan Bank and Tots Unlimited. This will be ZK Grill’s fourth location in the valley. ZK Grill was represented by Scott Ellsworth of SRS. The landlord, Tri Gate Capital, was represented by Cliff Johnson of Cassidy Turley.
OKLAHOMA CITY – CBRE’s National Retail Investment Group has arranged the sale of Centennial Plaza, a 23,797-square-foot power center in Oklahoma City. CBRE worked on behalf of Kimco Realty Corp., which sold the property to American Realty Capital-Retail Centers of America Inc., a publicly registered, non-traded REIT. Centennial Plaza is 100 percent occupied and anchored by retailers including Home Depot, Best Buy, Gordmans and Guitar Center. The property is located at 5801 N. May Ave. near Oklahoma City’s Nichols Hill and Meadowbrook Acres neighborhoods. It was built in 1992. Chris Cozby, Chris Gerard, Mark Inman and Kevin Holland with CBRE represented the seller.
AUGUSTA, GA. — Bernard Financial Group has arranged a $7.5 million loan to refinance a freestanding, 192,394-square-foot Walmart Supercenter in Augusta. Neil Gorosh of Bernard Financial originated the loan through Ameritas Life Insurance Corp. on behalf of the borrower, BC Investments-Augusta LLC.
CHICAGO — Essex Realty Group Inc. has arranged the $2.6 million sale of 3301 N. Clark St. in Chicago. The seven-unit, mixed-use property is located in the heart of Chicago’s Lakeview neighborhood. Doug Imber and Kate Varde of Essex Realty Group represented the undisclosed seller. Jim Darrow and Jordan Gottlieb represented the undisclosed buyer.
MINNEAPOLIS — Mid-America Real Estate has arranged the lease of a 6,400-square-foot retail space in Minneapolis. Merchant, which will be the first restaurant by acclaimed Chef Gavin Kaysen, will occupy space at 211 N. 1st St. The new restaurant is expected to open in November 2014. Carrie Charleston of Mid-America represented Merchant in the transaction.
SCOTTSDALE, ARIZ. — Hayden Crossing, a 63,446-square-foot neighborhood retail center in Scottsdale, has sold to 919 Hillsdale LLC for $14 million. The center is located at 8015-8035 E. Indian School Road. Notable net lease tenants include Bashas’ and Walgreens. The seller, Hayden Crossing Shopping Center LLC, was represented by Ryan Schubert and Michael Hackett of Cassidy Turley’s Retail Capital Markets Group.
FRESNO, CALIF. — Mission Village, a 52,950-square-foot shopping center in Fresno, has sold to MCS Guardian Properties LLC for $8 million. The center is located at 335-393 E. Shaw Avenue, and 4965 and 4987 N. Fresno Street. It is anchored by a new 24-Hour CVS/pharmacy. The center was built in 1979. It is 83 percent occupied. MCS Guardian was represented by Greg Bethke of Manco Abbott. The seller, a private Orange County investment company, was represented by Eric P. Wohl of Hanley Investment Group Real Estate Advisors.
SAN FRANCISCO – A 1,800-square-foot retail building in San Francisco has sold to JSRE Acquisitions for $4.3 million. The building is located at 69 Maiden Lane. It is the smallest building in the city’s Union Square District. The space is occupied by Bistro 69 Café. It will be vacant this fall. JSRE was represented by Tim Maas, Tony Crossley and Frank Wheeler of Colliers International.