NEW YORK CITY — The Brooklyn Navy Yard Development Corp. is seeking proposals to develop a 6-acre site, known as Admiral’s Row, on the western edge of the Brooklyn Navy Yard in Brooklyn, New York City. The request for proposals (RFP) seeks developers interested in building a retail center that will include a large-format supermarket of no less than 40,000 square feet, as well as 20,000 square feet of retail space. According to the RFP, optimal development of the site will also include a minimum of 40,000 square feet of an upper floor to accommodate light industrial uses and could include upper-floor commercial uses.
WESTFIELD, N.Y. — Cedar Shopping Centers has disposed of a 10,125-square-foot CVS/pharmacy, located in Westfield, for approximately $1.6 million. The property was acquired by the company in 2005 from Glitz & Associates as part of a 25-property portfolio. The buyer in this transaction was not disclosed.
ALBUQUERQUE, N.M. — Ed Graf and Ted Sannella of Houlihan-Parnes Realtors has brokered the acquisition of The Ladera Shopping Center in Albuquerque. Located at 3301 Coors Blvd. N.W., the property offers 128,712 square feet of retail space. Built in 1986, the center is currently 95 percent occupied by 23 national, regional and local tenants, including John Brooks Supermarket, Dollar Tree, Taco Cabana, Bank of Albuquerque, Planet Fitness, the UPS Store, Supercuts, H&R Block and T-Mobile. The undisclosed buyer assumed the existing financing of $8.96 million at 5.25 percent interest only through the maturity of the loan. Additional details regarding the transaction were not disclosed.
IRVINE, CALIF. — Passionate Pet has signed a 10-year lease for a 23,598-square-foot flex space, which is located at 18871 Teller Ave. in Irvine. The lease is valued at $3.4 million. The tenant will offer a complete selection of pet-related products and pet services, including grooming, dog training, veterinary care, photography, a day camp and a boarding facility. Brian Garbutt of Lee & Associates-Irvine represented the landlord, Greenlaw Partners.
MANASSAS, VA. — A joint venture among Potomac Capital Advisors, Baltimore-based Alex. Brown Realty and Bethesda, Md.-based Spectrum Partners has acquired the 176,000-square-foot Westgate Plaza Shopping Center from Principal Real Estate Investors for $25 million. The property, which is anchored by Giant Foods and Barnes & Noble Booksellers, is located at 8139 Sudley Rd. in Manassas. Additional tenants include Panera Bread, Pier 1 Imports, Ruby Tuesdays and Total Wine & More. Spectrum represented itself in the transaction.
MIAMI — Fort Lauderdale, Fla.-based Moss & Associates has completed construction of two Publix stores in Miami. A 31,000-square-foot store in Mary Brickell Village, located on South Miami Avenue, has been built in an existing parking structure. Moss & Associates has also finished a 39,000-square-foot prototype building in the Coral Way section of Miami. This project necessitated new site drainage, lighting and asphalt pavement.
LOCKPORT, ILL. — Stan Johnson Co. has brokered the sale of an 8,064-square-foot retail store to an individual investor for $2.55 million. Located on 1.86 acres in Lockport, the freestanding store is occupied by National Tire & Battery. Gill Warner, Rod Pickney and Chad Byerly of Team Warner of Stan Johnson Co. represented the seller, a retail developer. Town & Country GMAC Real Estate represented the buyer in the transaction.
UNION COUNTY, N.J. — CB Richard Ellis' Private Client Group (CBRE) has completed the $1.215 million sale of two bank facilities in Union County. One facility, located at 2 North Ave. in Cranford, is a 14,361-square-foot, three-story office facility, which includes a bank on the first floor. The property is zoned as B1 Business and is a landmark building in downtown Cranford. Amenities include elevator service, palladium windows and a recently upgraded façade. The second facility, located at 460 Park Ave. in Scotch Plains, is an 11,319-square-foot, two-story office property, which has a bank on the first floor. The building is located downtown amid restaurants, offices and shopping and offers amenities such as parking and mixed-use office and retail. CBRE's Dean Marchi and Gehane Triarsi represented the seller, Gramercy Capital, in this transaction. A real estate company bought the Cranford bank, and a local buyer purchased the Scotch Plains bank.
MANCHESTER, N.J. — Summit Realty has broken ground on a new Quick Chek Convenience Store with Gas at the intersection of Route 70 and Ridgeway Road in Manchester. The 5-acre site will include a 5,500-square-foot building and eight gasoline dispensers. In addition, Robert Delia of Summit represented both the landlord and tenant in the transaction, and he is serving as project manager for the approval process and construction of the project. The project is slated for completion in November.
PHOENIX, ARIZ. — Phillips Edison & Co. has purchased the 170,801-square-foot Village Center retail property from a private party for an undisclosed amount. The development, located on East Cactus Road in Phoenix, is anchored by Target and shadow-anchored by REI. Lenscrafters, Subway, Great Clips and Half Price Books are also housed in the property, which is 85.36 percent occupied.