Retail

GoodVets to Open 2,656 SF Location at Optima Lakeview Apartments in Chicago

by Kristin Harlow September 14, 2023

CHICAGO — GoodVets, a Chicago-based full-service veterinary care provider, has leased ground-floor retail space at Optima Lakeview, a 198-unit luxury apartment community in Chicago’s Lakeview neighborhood. The tenant is scheduled to open the 2,656-square-foot location in December. GoodVets offers a comprehensive range of veterinary services, including preventive care, surgery, dentistry and wellness programs. The Lakeview location represents the sixth Chicago-area office for GoodVets and its second within an Optima Inc. apartment building. Designed by David Hovey Sr. and completed in 2022, Optima Lakeview occupies the site of a shuttered Treasure Island Foods grocery store.

September 14, 2023

Acquisitions Georgia Retail Southeast

JLL Brokers Sale of Publix-Anchored Shopping Center in Sandy Springs, Georgia

by John Nelson September 13, 2023

SANDY SPRINGS, GA. — JLL has brokered the sale of Trowbridge Crossing, a 62,558-square-foot shopping center located in Sandy Springs, a northern suburb of Atlanta. Publix anchors the property, and other tenants include T-Mobile, North Springs Animal Clinic, Erawan Organic Thai, Domino’s, USPS, Luxy Nails, Hong Kong City and The UPS Store. Jim Hamilton, Brad Buchanan, Andrew Michols and Anton Serafini of JLL represented the seller, InvenTrust Properties Corp., in the transaction. West Palm Beach, Fla.-based FrostPoint Capital acquired the center for an undisclosed price.

September 13, 2023

Loans New York Northeast Retail

Newmark Arranges $90M Loan for Refinancing of Brooklyn Shopping Center

by Taylor Williams September 13, 2023

NEW YORK CITY — Newmark has arranged a $90 million loan for the refinancing of a 181,000-square-foot shopping center located at 240 Bedford Ave. in Brooklyn’s Williamsburg neighborhood. The center is home to tenants such as Whole Foods Market, Equinox, Chipotle, Citibank and T-Mobile. Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, Benjamin Kroll and Alexander Saslove of Newmark arranged the loan through Apollo Global Management. The borrower was a joint venture between Aurora Capital Associates, Midtown Equities and ACHS Management.

September 13, 2023

Acquisitions Massachusetts Northeast Retail

Horvath & Tremblay Negotiates $6.3M Sale of Shopping Center in Pittsfield, Massachusetts

by Taylor Williams September 13, 2023

PITTSFIELD, MASS. — Metro Boston-based brokerage firm Horvath & Tremblay has negotiated the $6.3 million sale of Del Alba Plaza, a 72,119-square-foot, grocery-anchored shopping center in Pittsfield, located in the western part of The Bay State. The center consists of a 61,935-square-foot Stop & Shop grocery store, a 2,000-square-foot fuel station and a three-space, 8,184-square-foot inline building. The property also features a pad site that can support the development of a 3,500-square-foot building. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the buyer and seller, both of which requested anonymity, in the transaction.

September 13, 2023

Development Leasing Activity Mixed-Use Multifamily Restaurant Retail Southeast Tennessee

Portman Adds Retrograde Coffee, Social Cantina to Starling Apartment Tower Underway in Nashville

by John Nelson September 12, 2023

NASHVILLE, TENN. — Atlanta-based Portman has signed two new food-and-beverage tenants to occupy commercial space at Starling, a 363-unit apartment tower underway in Nashville’s Germantown neighborhood. The new tenants include Retrograde Coffee, a neighborhood coffeeshop, and Social Cantina, a modern Mexican restaurant and tequila bar. The coffeeshop will be the first café to front the Cumberland River Greenway, which Portman will expand to directly interface with the Starling tower, and the restaurant will be the first Southeast location for Social Cantina and will feature an outdoor patio. In addition to 17,000 square feet of commercial space, Starling will feature a game room, library, coworking space and a rooftop pool deck overlooking First Horizon Park. Portman plans to deliver the first units in January and fully complete the project in March. In addition to Starling, Portman’s current Nashville projects include the 1,475-unit Eleven North residential development that will break ground in 2025 and the recently delivered Moore Building in Music Row.

September 12, 2023

Leasing Activity Restaurant Retail Texas

Pickle & Social, Fairway Social to Open Entertainment Centers in Frisco

by Taylor Williams September 12, 2023

FRISCO, TEXAS —Pickle & Social and Fairway Social will open entertainment centers at Frisco Station, a mixed-use development on the northern outskirts of Dallas. Pickle & Social will offer both indoor and outdoor pickleball courts, as well as live entertainment, food and beverages and other games. Fairway Social will feature golf simulators that include 130 courses, as well live entertainment, food and drinks, cornhole, beach volleyball and ping-pong. Construction is scheduled to begin next spring, with the opening scheduled for spring 2025. Tim Henson of Venture Commercial Real Estate and Bryan Cornelius of RETAIL UNION represented Pickle & Social in the lease negotiations. The Frisco Station Partnership, which includes The Rudman Partnership, Hillwood and VanTrust Real Estate, is the developer of Frisco Station.

September 12, 2023

Georgia Loans Retail Southeast

CBRE Arranges $55M Refinancing for Peachtree Battle Shopping Center in Atlanta

by John Nelson September 12, 2023

ATLANTA — CBRE has arranged a $55 million loan for the refinancing of Peachtree Battle Shopping Center, a 152,951-square-foot grocery-anchored center located at 2333-2365 Peachtree Road NE in Atlanta. Situated on 12.6 acres in Atlanta’s Buckhead district, the three-building shopping center was fully leased at the time of sale to tenants including Publix, Walgreens, Ace Hardware, CAVA and Onward Reserve. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta arranged the loan through Thrivent Financial on behalf of the borrower, Branch Properties.

September 12, 2023

Acquisitions California Retail Western

Hanley Investment Group Brokers $2.9M Sale of Bank of America-Occupied Asset in Palm Desert, California

by Amy Works September 12, 2023

PALM DESERT, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of an absolute triple-net ground lease of a single-tenant building located at 39355 Washington St. in the Coachella Valley city of Palm Desert. A Los Angeles-based private investor sold the building to a Riverside County-based private investor for $2.9 million. Bank of America occupies the 3,515-square-foot freestanding building, which features a drive-thru. Bill Asher and Jeff Lefko of Hanley Investment represented seller, while Tyler Rollema of The Klabin Co. in Torrance represented the buyer in the deal.

September 12, 2023

Acquisitions Arizona Retail Western

Marcus & Millichap Negotiates Sale of 4,425 SF Net-Leased Retail Property in Bullhead City, Arizona

by Amy Works September 12, 2023

BULLHEAD CITY, ARIZ. — Marcus & Millichap has arranged the sale of net-leased retail property, located at 1885 AZ-95 in Bullhead City, near the state borders of both Nevada and California. Maverik occupies the 4,425-square-foot building, which was completed this year. A limited liability company sold the property to an undisclosed buyer for $2.7 million. The sale included a new, 20-year, absolute triple-net corporate ground lease with an eight percent rental increase every five years. Mark Ruble and Chris Lund of Marcus & Millichap’s Phoenix office represented the seller in the transaction.

September 12, 2023

Development Nevada Restaurant Retail Western

Diversified Partners Completes Construction of Starbucks Location in Henderson, Nevada

by Amy Works September 12, 2023

HENDERSON, NEV. — Diversified Partners has completed the construction of a single-tenant building at 892 Sunset Road in Henderson. The project team includes Kitrell Jenson Contractors and RKAA Architects. Starbucks Coffee will occupy the 2,573-square-foot standalone building, which features a double drive-thru and 900-square-foot outdoor patio space. The building features the latest Starbucks prototype.

September 12, 2023

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