Retail

STRUCTURED LEASES SPACE FOR NEW RETAIL DEVELOPMENT ON CHICAGO'S NORTH SIDE

by admin January 30, 2012

CHICAGO — Chicago-based Structured Development has signed leases with PetSmart and buybuyBaby to occupy 45,000 square feet at 1415 N. Kingsbury St., a 2.3-acre retail development that will break ground early this year in Chicago. The Kingsbury Center project will also include an additional 8,500 square feet of retail space for lease. Structured Development moved forward with the project after its partner, Commonfund of Wilton, Conn., withdrew from the LLC. Structured paid off the existing PNC loan through a refinancing provided by The Private Bank in the amount of $14 million.

January 30, 2012

NEW BAR LOUIE LOCATION OPENS IN CHICAGO

by admin January 30, 2012

CHICAGO — BL Restaurant Operations will open a new Bar Louie location in Chicago's River North neighborhood on Feb. 1. The 11,591-square-foot restaurant and bar will be the eleventh Bar Louie in the Chicago area. Located at 333-335 N. Dearborn St., Bar Louie will seat about 260, with an additional 73 seats on the patio. The bar opens Feb. 1.

January 30, 2012

Northeast Retail

ARMY TRANSFERS ADMIRAL'S ROW TO NYC, PAVES WAY FOR RETAIL CONSTRUCTION

by admin January 30, 2012

NEW YORK CITY — The final hurdle has been cleared for the construction of a 74,000-square-foot supermarket and 79,000-square-foot retail center at the Brooklyn Navy Yard. The U.S. Army has agreed to transfer the navy yard's six-acre Admirals Row site to New York City. The city plans to turn the property over to Brooklyn Navy Yard Development Corp. for redevelopment. Plans for the project also include new industrial space and the rehabilitation of long-neglected buildings. The historic timber shed and residential home, will be used for retail or office space. The project will break ground this year.

January 30, 2012

Northeast Retail

G.S. WILCOX SECURES $6M IN FINANCING FOR NEW JERSEY'S WATCHUNG COMMONS

by admin January 30, 2012

WATCHUNG, N.J. — G.S. Wilcox & Co. has arranged $6 million in financing for Watchung Commons, a 32,696-square-foot, multi-tenanted retail building in Watchung. The borrower will use the 10-year loan to recoup construction costs for upgrading the property and adding Party City as its largest tenant.

January 30, 2012

Retail Texas

SITE FOR NEW PAPPASITO'S SELLS

by admin January 30, 2012

DALLAS — The former 12,934-square-foot Smith & Wollesnky building, located at Dallas North Tollway and Frankford Road in Dallas, has been purchased and will be a new site for Pappasito's Cantina. David Zoller of The Weitzman Group's Dallas office represented the undisclosed seller in the transaction. Sam Beys of Preston Commercial Group represented the buyer.

January 30, 2012

Retail Texas

NET REALTY BROKERS FAMILY DOLLAR SALE

by admin January 30, 2012

POTTSBORO — Dallas-based Net Realty Advisors has arranged the sale of the 8,000-square-foot Family Dollar, located at Franklin Street and Highway 120 in Pottsboro. Family Dollar has a 10-year lease with four options to extend. Gavin Kam and Brad Kam of Net Realty Advisors represented the buyer, a West Coast-based all-cash investor, in the transaction.

January 30, 2012

Retail Western

WALGREENS IN SANTEE SELLS FOR $8.7M

by admin January 30, 2012

SANTEE, CALIF. – A 14,758-square-foot building that is currently occupied by Walgreens has sold to Santee CL, LLC with Mabie & Mintz as a general partner. The property was sold for $8.7 million from its original developer, Interra-Vision, LLC c/o Interra Development Partners, LLC. The acquisition was included as part of an exchange from the buyer’s sale of the Colima Linda Apartments in San Diego. Santee CL was represented by Cassidy Turley BRE Commercial’s Chris Rink. Interra-Vision represented itself in this transaction.

January 30, 2012

Retail Southeast

MCDONALD'S GROUND LEASE SELLS FOR $2.14M

by admin January 27, 2012

SNELLVILLE, GA. — A 4,030-square-foot McDonald's ground lease, located in Snellville, has been sold for $2.14 million. Jason Long of Alpharetta-based Shane Investment Property Group represented the seller, an Arizona-based REIT, in the transaction and procured the buyer, a New York-based family trust.

January 27, 2012

Midwest Retail

BOULDER GROUP ARRANGES SALE OF NET-LEASED CVS IN OHIO

by admin January 27, 2012

TROTWOOD, OHIO — The Boulder Group has completed the $1.9 million sale of a net-leased CVS property, located at 1001 E. Main St. in Trotwood. CVS has a 25-year lease at the 10,722-square-foot retail building, which was developed in 1996. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Texas-based investment firm, in the transaction. The buyer was a New York-based 1031 exchange investor.

January 27, 2012

Northeast Retail

OH! NUTS TO OPEN NEW CHOCOLATE PROCESSING PLANT IN QUEENS

by admin January 27, 2012

JAMAICA, N.Y. — Oh! Nuts Candy, a chocolate, nuts and gift basket retailer, has purchased a 42,000-square-foot industrial property in Jamaica for $2.9 million. Located at 120-65 168th St., the property includes four interior loading docks and an 8,200-square-foot parking lot. Oh! Nuts has four New York locations and plans to use the building as a chocolate processing plant as well as their main distribution center. Robert Klein and Joel Kohn of Kalmon Dolgin Affiliates represented the buyer and the seller, Baisley Property, in the transaction.

January 27, 2012

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