NEW YORK CITY — NorthMarq Capital has arranged an $11.4 million loan for the acquisition of Orion, a 42,774-square-foot retail condominium in New York City. The condo is part of a newly constructed 58-story residential high-rise on West 42nd St., just west of Times Square. Icon Parking Garage, Well Green Market and Starbucks are the major tenants at the site. Gregory Nalbandian of NorthMarq negotiated the 5-year, interest-only financing through a regional bank. The borrower is a REIT.
NEW YORK CITY — Blink Fitness has signed an 18,119-square-foot lease at the Concourse Plaza, located just off the Grand Concourse in the Bronx. The 228,000-square-foot Concourse Plaza shopping center is currently undergoing a major renovation and redevelopment. The remodel includes upgrades to the center and the addition of new space for retail. Blink Fitness will be located on three levels at 820 Concourse Plaza. The owner, The Feil Organization, was self-represented by Randall Briskin in the transaction. Peter Levine of Charter Realty and Bill Miller of Blink Fitness represented the tenant.
ANAHEIM, CALIF. — Arcturus Group, Avenue Capital and Elliott Management have purchased Anaheim GardenWalk, a 450,000-square-foot, open-air retail center, for an undisclosed sum. The center was built in 2008 and went through a foreclosure in 2010. It has achieved only a 50 percent occupancy rate over the past two years. Notable tenants include UltraLuxe Cinemas, The Cheesecake Factory, P.F. Chang's, California Pizza Kitchen, McCormick & Schmick's, Roy's Hawaiian Fusion and Bubba Gump Shrimp Co. The investor group plans to renovate the center and completely revamp its operations and marketing strategies.
ARLINGTON — Digg's Taco Shop and Smiling Moose Deli have leased space at the College Park development on The University of Texas at Arlington's campus. The new eateries will be the second location for both restaurants in the Dallas/Fort Worth Metroplex. Other tenants at College Park include MAVS Sports Grill, Pho Xpress, Pie Five Pizza Co., GRIP Mediterranean Grill and Coolberry Frozen Yogurt. Digg's Taco Shop has leased 2,906 square feet and Smiling Moose Deli has leased 2,120 square feet. Frank Bullock and Jack Burgher of SRS Real Estate Partners represented the owner in both lease transactions. Cory McCord of Retail Plazas represented Digg's and Jennifer Frank of Princeton Partners represented Smiling Moose Deli.
MESA, ARIZ. — Village Square at Dana Park, a 310,979-square-foot community center in Mesa, has sold to Whitestone REIT for $50.5 million. This represents a 45 percent discount to estimated replacement cost. The center contains 292,714 square feet of open-air retail space, as well as 18,265 square feet of office space. It is currently 71 percent leased. Notable retail tenants include AJ’s Fine Foods, Barnes & Noble, Z Gallerie, Anthropologie, Coldwater Creek, Jared Galleria of Jewelers, Chico’s, California Pizza Kitchen, White House Black Market, Bath & Body Works, Talbots, Ann Taylor Loft, Five Guys Burgers and Fries, RA Sushi, Sauce and Pei Wei.
HIALEAH GARDENS, FLA. – Walmart has opened a new 41,000-square-foot Walmart Neighborhood Market at 11800 Hialeah Gardens Blvd. in Hialeah Gardens. Walmart’s first Neighborhood Market opened in 1998 and there are approximately 200 stores nationwide today. The location in Hialeah Gardens is open 24 hours, 7 days a week. The store also offers Site-to-Store, a free service that allows customers to ship online orders free to any Walmart store for pickup.
SIOUX CITY, IOWA — 4th Street Centre LLC has acquired the 10-story Terra Centre in downtown Sioux City. Arlene Curry and Ellen Kaplan of NAI LeGrand & Co. represented the seller, CF Industries, in the transaction. CF Industries is an international fertilizer producer, which had purchased the property as part of its multi-million dollar acquisition of Terra Industries.
KENT, OHIO — Two new tenants will join The Cascades of Brimfield in Kent this January. Petco has signed a lease for 12,500 square feet of space and Hibbett Sporting Goods will occupy 5,000 square feet of space. The retailers will join tenants such as Kohl's, Lowe's, Marshalls and Dollar Tree. Carla Massara of Kowit & Passov Real Estate Group represented the landlord in both transactions.
MESA, ARIZ. — Village Square at Dana Park, a 310,979-square-foot community center in Mesa, has sold to Whitestone REIT for $50.5 million. This represents a 45 percent discount to estimated replacement cost. The center contains 292,714 square feet of open-air retail space, as well as 18,265 square feet of office space. It is currently 71 percent leased. Notable retail tenants include AJ’s Fine Foods, Barnes & Noble, Z Gallerie, Anthropologie, Coldwater Creek, Jared Galleria of Jewelers, Chico’s, California Pizza Kitchen, White House Black Market, Bath & Body Works, Talbots, Ann Taylor Loft, Five Guys Burgers and Fries, RA Sushi, Sauce and Pei Wei.
BRENTWOOD, CALIF. — The Streets of Brentwood, a 305,428-square-foot lifestyle center in the West Los Angeles submarket of Brentwood, has sold to a partnership between DRA Advisors and RED Development for $72.1 million. It is located at 2565 Sand Creek Road. The acquisition also included a parcel of land approved for Phase II development and 110,000 square feet of additional retail space. Notable tenants at the center include REI, Banana Republic, DSW, Ulta Cosmetics, Ann Taylor and Jos. A. Bank. It is anchored by a 14-screen Rave Theater. Alfred Hackbarth of SRS Real Estate Partners represented both the buyer and the seller, Brentwood Specialty Center, LLC, in this transaction.
