MIDDLESEX, N.J. — NAI DiLeo-Bram & Co. has arranged the $8.6 million sale of a 69,750-square-foot retail center located in Middlesex. A 57,000-square-foot SuperFresh grocery store anchors the property, which sits on a 3.9-acre site. The center also features a 6,115-square-foot liquor store and 6,300 square feet of second-floor office space. Marc Shein of NAI DiLeo-Bram represented the undisclosed seller in the transaction. Bennett Realty & Development represented the buyer.
DEER PARK, ILL. — Five new tenants are opening at Deer Park Town Center in the northwest Chicago suburb of Deer Park. Victoria’s Secret has already opened its 4,965-square-foot store next to Pottery Barn. Clean Juice, which offers organic and fresh cold-pressed juices and smoothies as well as sandwiches and salads, is opening this spring. The Clean Juice location will span 1,371 square feet and will be owned and operated by local franchisee Joe Carmosino. Also debuting this spring is The Shade Store, a custom window treatment company that will occupy 1,550 square feet, and Aerie, a clothing retailer that will open a 4,500-square-foot store. This fall, Ancho & Agave will open a Mexican restaurant. The Deer Park Town Center location marks the brand’s fifth restaurant in Illinois and will total 8,750 square feet with a patio and center bar. Deer Park Town Center is an outdoor lifestyle shopping center managed by JLL that features more than 60 retail, restaurant and service brands.
COLUMBUS, OHIO — Professional Bull Riders (PBR) and Live! Hospitality & Entertainment have unveiled plans to open a PBR Cowboy Bar + Smokehouse at Easton Town Center in Columbus. Set to open early this year, the bar marks the 15th location for the brand nationwide and the first in Ohio. The Easton Town Center location will total 8,400 square feet with a media wall for viewing all major sporting events, multiple bars, private VIP booths, an outdoor patio, stage and mechanical bull. Easton Town Center, a shopping destination with more than 250 stores, restaurants and entertainment venues, is located within the larger Easton mixed-use development. Steiner + Associates manages and leases Easton Town Center.
BARRINGTON, ILL. — Fortec, a Miami-based real estate development company focused on educational projects, has purchased the former Barrington School District headquarters in suburban Chicago for $695,000. Fortec is investing an additional $2.8 million in remodeling the building and creating an adjacent playground. The developer has signed a 17-year lease with The Nest Schools, an early childhood education operator with over 50 locations nationwide. The Nest Schools is slated to open this summer and will serve approximately 200 children ages six weeks to 12 years. Milo Spector of Northmarq represented Fortec in the transaction. Jennifer Hopkins and Olivia Czyzynski of SVN Chicago Commercial represented the seller, the Board of Education of Barrington Community Unit School District Number 220. The Barrington School District utilized the 12,413-square-foot property from the early 1970s until 2019.
WILMINGTON, DEL. — German discount grocer Aldi will open a 32,262-square-foot store in Wilmington. Aldi will occupy the site at 4130 Concord Pike, which spans 3.1 acres, for the next 10 years. Jim O’Hara and Neil Killian of NAI Emory Hill Real Estate Services represented the landlord, an entity doing business as LBD Wilmington, in the lease negotiations. Jason Block of MCS represented Aldi.
ANAHEIM, CALIF. — The Walt Disney Co. (NYSE: DIS) has proposed a $1.9 billion expansion of its Disneyland Resort and surrounding neighborhood in Anaheim, south of Los Angeles in Orange County. If approved, the various new projects would be carried out within 10 years of the approval date, with the potential for another $600 million in capital investment to follow. The proposal, known as DisneylandForward, calls for new attractions and hotels to be constructed on the west side of Disneyland Drive. In addition, the theme park’s operators are looking to add new shopping, dining and entertainment space to the southeast at a site that currently houses parking for the Toy Story attraction. The proposal was originally discussed with the Anaheim City Council last Thursday. According to a summary of that meeting, the proposal does not request that any new acreage, square footage or hotel rooms be developed, but rather that approved development plans be shifted onto lands that Disney already owns. As part of the proposal, Disney would invest about $85 million of its own money in various infrastructural improvements in the area, including upgrades to parking structures, roads and pedestrian bridges. To make the project possible, the City of …
DELRAY BEACH, FLA. — Berta Management has secured an $18.5 million loan for the refinancing of Delray Corner, a shopping center located at 14802 S. Military Trail in Delray Beach. Justin Neelis of Concord Summit Capital arranged the five-year, fixed-rate financing on behalf of the borrower. The South Florida retail center comprises 86,043 square feet of leasable space. Michaels is scheduled to open a 25,600-square-foot store in the first quarter of this year as the new anchor tenant, taking over a renovated space formerly occupied by Bed Bath & Beyond. Other tenants at the property include Conviva, CVS/pharmacy and Starbucks Coffee.
HYATTSVILLE, MD. — JLL Capital Markets has arranged an $18.4 million loan to finance the acquisition of Metro Shops, a retail center located in the Washington, D.C., suburb of Hyattsville. Michael Klein, Max Custer, Brian Buglione and Benjamin Morgenthal of JLL secured the financing through Loews Corp. on behalf of the borrower, Northpath Investments. Built in 2007 at 2900 Belcrest Center Drive, Metro Shops totals 160,623 square feet and is situated across from the 1 million-square-foot Mall at Prince George’s. Tenants at the center include Bob’s Discount Furniture, Staples, LA Fitness, Dunkin’ and Citibank.
ELMONT, N.Y. — The Feil Organization has refinanced Home Depot Shopping Center, a 269,490-square-foot property located at 600 Hempstead Turnpike in the Long Island community of Elmont. Feil has owned the property since 1992. At the time of the loan closing, the center was fully leased, with Marshalls and Target serving as the other anchor tenants. Estreich & Co. arranged the $23.5 million loan for the refinancing through Principal Asset Management on behalf of Feil.
LAS VEGAS — SRS Real Estate Partners has brokered the sale of a retail property, located at 8880 S. Rainbow Blvd. in Las Vegas. Situated on 0.77 acres, Conoco occupies the 3,500-square-foot property under a 20-year, absolute triple-net lease with LV Petroleum LLC, a franchisee gas station operator with more than 30 locations. Las Vegas-based Kingsbarn Realty Capital sold the asset to a Las Vegas-based private investor for $7.1 million. Patrick Luther of SRS Capital Markets represented the seller in the deal.