Triple Five Group to Open 10,000 SF Food Hall at American Dream in East Rutherford, New Jersey

EAST RUTHERFORD, N.J. — Triple Five Group, the owner of the 3 million-square-foot American Dream shopping, dining and entertainment destination in Northern New Jersey, will soon open a 10,000-square-foot food hall. The food hall will feature seven concepts, including Van Leeuwen Ice Cream, Best Pizza and Vanessa’s Dumpling House, as well as wine bar Vinoteca and confectionary Lady M. The space will include seating and game areas and will be located near the live music and performance stage. …

June 24, 2022Leasing Activity, New Jersey, Northeast, Restaurant, Retail

JLL Negotiates Sale of 174,063 SF Shopping Center in Chambersburg, Pennsylvania

CHAMBERSBURG, PA. — JLL has negotiated the sale of Franklin Center, a 174,063-square-foot shopping center in Chambersburg, located in the southern central part of the state. Built in 1990 and renovated in 2015, Franklin Center was 91.5 percent leased at the time of sale. Dick’s Sporting Goods, T.J.Maxx, Ulta Beauty, Petco and Ollie’s Bargain Outlet are the anchor tenants. Christopher Munley, Jim Galbally, Colin Behr and James Graf of JLL represented the seller, Florida-based investment …

June 23, 2022Acquisitions, Northeast, Pennsylvania, Retail

Target to Open 126,000 SF Store at Danbury Fair Mall in Connecticut

DANBURY, CONN. — Target (NYSE: TGT) will open a 126,000-square-foot store at Danbury Fair, a regional mall located in southern Connecticut’s Fairfield County. The Minneapolis-based retailer will backfill a two-level space that was previously occupied by Sears for its first location in the city. J.C. Penney, Macy's, Dick's Sporting Goods and Primark are the other anchors at Danbury Fair, which is owned by Southern California-based REIT Macerich. An opening date was not disclosed. Target also …

June 23, 2022Connecticut, Leasing Activity, Northeast, Retail

Northmarq Arranges Four Loans Totaling $12.8M for Refinancing of White Plains Retail Properties

WHITE PLAINS, N.Y. — Northmarq has arranged four loans totaling $12.8 million for the refinancing of four retail properties totaling 66,691 square feet in White Plains, a northern suburb of New York City. Tenants at the properties include The Men’s Warehouse, New Balance, Sherwin-Williams, Cycle Gear, Mattress Firm, AutoZone and Gothic Cabinet Craft. Robert Ranieri of Northmarq arranged the financing through PCSB Bank on behalf of the undisclosed borrower. Each loan carried a fixed interest …

June 23, 2022Loans, New York, Northeast, Northmarq, Retail

SVN|The Equity Group Arranges $24.4M Sale of Silverado Square Retail Center in Las Vegas

LAS VEGAS — SVN | The Equity Group has brokered the sale of Silverado Square, a retail center situated on 6.5 acres in Las Vegas. AG Property Development LLC sold the asset to an undisclosed buyer for $24.4 million.Located at 1110-1190 E. Silverado Blvd., Silverado Square features 48,492 square feet of retail space. Sprouts Farmers Market anchors the property, which was developed in 2018 and 2019.Nolan Julseth-White of SVN | The Equity Group represented the seller, while Rob Ippolito …

June 23, 2022Acquisitions, Nevada, Retail, Western

Marcus & Millichap Arranges $2.4M Sale of Chick-fil-A Ground Lease in Metro Savannah

POOLER, GA. — Marcus & Millichap has arranged the $2.4 million sale of a Chick-fil-A ground lease located at 2100 Pooler Parkway in Pooler, about 12 miles west of Savannah’s downtown historic district. The 5,181-square-foot restaurant is currently underway on a 1.5-acre site, and Chick-fil-A has 15 years remaining on its lease. An out-of-state, privately held investor purchased the ground lease in an all-cash transaction at a 3.45 percent cap rate. The seller was not disclosed. Don McMinn …

June 23, 2022Acquisitions, Development, Georgia, Restaurant, Retail, Southeast

Thorofare Capital Provides $16.8M Acquisition Loan for Office, Retail Building in Queens

NEW YORK CITY — Los Angeles-based Thorofare Capital has provided a $16.8 million acquisition loan for a 42,500-square-foot office and retail building located at 69-30 Austin St. in Queens. Ross Cumming of Ackman-Ziff Real Estate Capital Advisors placed the financing with Thorofare Capital. The borrower, a partnership between LTNG, Crown Acquisitions and Forest Hills Real Estate Group, plans to use a portion of the proceeds to fund capital

June 22, 2022Loans, New York, Northeast, Office, Retail

Keller Williams Commercial Arranges $24.5M Sale of Mayhew Plaza Shopping Center in Woodland Hills, California

WOODLAND HILLS, CALIF. — Keller Williams Commercial has arranged the acquisition of Mayhew Plaza Shopping Center, a grocery-anchored neighborhood shopping center located at 22631-22653 Ventura Blvd. in Woodland Hills. J Globo LLC and SHWH LLC sold the asset to GNC Properties LLC and Western Prime Holdings LLC for $24.5 million.Built in 1962 and renovated in 1999, Mayhew Plaza features 39,867 square feet of retail space. Smart & Final Extra!, a warehouse-style food and supply store, …

June 22, 2022Acquisitions, California, Retail, Western

CBRE Arranges $31M Sale of Arena Shoppes in South Florida

NORTH LAUDERDALE, FLA. — CBRE has arranged the $31 million sale of Arena Shoppes, a 130,558-square-foot shopping center located roughly 33 miles outside Miami in North Lauderdale. Dennis Carson, Casey Rosen, David Donnellan and Patricia Friend of CBRE represented the undisclosed seller in the transaction. Paul Ahmed and Mackenzie Lampman, also with CBRE, secured $20.7 million in acquisition financing on behalf of the buyers, South Florida-based investors doing business as Arena Shoppes NL LLC …

June 22, 2022Acquisitions, Florida, Retail, Southeast

L.A. Retail: A Tale of Two Pandemics

By Nellie DayAll of Los Angeles County might have been under the same restrictions throughout the pandemic, but their emergence from this period reveals a lot about the localized retail environments. “Los Angeles’ retail market has weathered COVID better than many other markets around the country,” says Matthew May, founder of May Realty Advisors in the Los Angeles submarket of Sherman Oaks, Calif. “However, the recovery has favored a diverse group of suburban …

June 22, 2022California, Market Reports, Retail, Western, Western Market Reports

Triple Five Group to Open 10,000 SF Food Hall at American Dream in East Rutherford, New Jersey

JLL Negotiates Sale of 174,063 SF Shopping Center in Chambersburg, Pennsylvania

Target to Open 126,000 SF Store at Danbury Fair Mall in Connecticut

Northmarq Arranges Four Loans Totaling $12.8M for Refinancing of White Plains Retail Properties

SVN|The Equity Group Arranges $24.4M Sale of Silverado Square Retail Center in Las Vegas

Marcus & Millichap Arranges $2.4M Sale of Chick-fil-A Ground Lease in Metro Savannah

Thorofare Capital Provides $16.8M Acquisition Loan for Office, Retail Building in Queens

Keller Williams Commercial Arranges $24.5M Sale of Mayhew Plaza Shopping Center in Woodland Hills, California

CBRE Arranges $31M Sale of Arena Shoppes in South Florida

L.A. Retail: A Tale of Two Pandemics

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