Retail

Novak Commercial to Develop 300-Unit Multifamily Project in Metro Austin

by Taylor Williams January 23, 2023

GEORGETOWN, TEXAS — Locally based firm Novak Commercial Development has acquired a six-acre tract in the northern Austin suburb of Georgetown for the development of a 300-unit multifamily project. The site is located within The Commons at Rivery mixed-use development, which will include 45,000 square feet of retail space, as well as open green space. Alex Makris of Partners, the Houston-based investment and brokerage firm formerly known as NAI Partners, internally represented the seller in the land deal. Kevin Murphy of Partners represented Novak Commercial. Completion is slated for 2025.

January 23, 2023

Loans Northmarq Retail Texas

Centergy to Develop 90,000 SF Retail Project in Frisco, Texas

by Taylor Williams January 23, 2023

FRISCO, TEXAS — Locally based firm Centergy Retail will develop Lexington Village, a 90,000-square-foot retail project that will be located on the northern outskirts of Dallas in Frisco. Grocer Tom Thumb has committed to anchoring the center with a 58,000-square-foot store that will include a pharmacy and a coffee bar. The store, which is scheduled to open in spring 2024, will be located within a larger, 600-acre master-planned development that will ultimately feature about 4,700 single-family and multifamily residences. Bobby Weinberg and Mason Brower of Northmarq arranged a $25.4 million construction loan through an undisclosed bank on behalf of Centergy Retail. The financing was structured with a five-year term with three years of interest-only payments followed by a 25-year amortization schedule.

January 23, 2023

Connecticut Leasing Activity Northeast Retail

Crate & Barrel Signs 37,253 SF Retail Lease Renewal in Westport, Connecticut

by Taylor Williams January 23, 2023

WESTPORT, CONN. — Crate & Barrel has signed a 37,253-square-foot retail lease renewal in Westport, located in southern Connecticut’s Fairfield County. The furniture and home décor retailer will continue to occupy space at a 58,196-square-foot center at 1200 Post Road E. that was recently renovated. Adam Klimek and Jim Fagan of Cushman & Wakefield represented the landlord, an entity doing business as 1200 Post Road LLC, in the lease negotiations. The representative of the tenant was not disclosed.

January 23, 2023

Acquisitions Illinois Midwest Retail

Mid-America Brokers Sale of 17,343 SF Retail Property in Chicago’s River North

by Kristin Harlow January 23, 2023

CHICAGO — Mid-America Real Estate Corp. has brokered the sale of Huron & Wells, a 17,343-square-foot retail property in Chicago’s River North neighborhood. The sales price was undisclosed. A newly renovated CVS store anchors the property. Additional tenants include aesthetic dermatology clinic Laser Away, Japanese restaurant Cocoro and fitness concept Vibez Fit. Joe Girardi and Emily Gadomski of Mid-America represented the Chicago-based private seller. Josh York of Syndicated Equities represented the California-based 1031 exchange buyer.

January 23, 2023

Acquisitions Indiana Midwest Northmarq Retail

Northmarq Arranges $5.2M Sale of Retail Center in Southwest Indiana

by Kristin Harlow January 23, 2023

VINCENNES, IND. — Northmarq has arranged the $5.2 million sale of Kimmell Crossing, a 44,962-square-foot retail center in Vincennes, a city in Southwest Indiana. Located on Kimmell Road and built in 1997, the property was fully leased to 10 tenants at the time of sale. Some of the tenants include Dollar Tree, Maurices, Sally Beauty Supply, T-Mobile and CATO. Ryan Roedersheimer of Northmarq represented the seller, DPPM Management, which acquired the asset in early 2022 from Regency Properties. A local investor completing a 1031 exchange was the buyer.

January 23, 2023

Acquisitions Colorado Restaurant Retail Western

Westwood Financial Buys 225,224 SF Shops at Walnut Creek in Denver

by Amy Works January 23, 2023

DENVER — Westwood Financial has purchased The Shops at Walnut Creek, a community shopping center in Denver. InvenTrust Properties sold the asset for an undisclosed amount. At the time of sale, the 225,224-square-foot property was 94 percent occupied. Current tenants include TJ Maxx, HomeGoods, PetSmart, Michaels, Old Navy, Dollar Tree, Qdoba, Buffalo Wild Wings, Massage Envy, LensCrafters, Sephora and Lash Lounge. Brad Lyons of CBRE | National Retail Partners represented the seller in the deal.

January 23, 2023

Acquisitions Florida Retail Southeast

Fairway Purchases 64,441 SF Shopping Center in Tampa Suburb

by John Nelson January 20, 2023

LUTZ, FLA. — Birmingham, Ala.-based Fairway Investments has acquired Livingston Market Place, a 64,441-square-foot shopping center located in the northern Tampa suburb of Lutz. Situated on 32.8 acres at 2701-2801 E. County Line Road, the property is anchored by Publix. Other tenants at the center, which was completed in 2022 and fully leased at the time of sale, include Heartland Dental, Papa John’s, Prime Barber and 40 Thieves Irish Pub. Bryan Belk and John Tennant of Franklin Street arranged the sale on behalf of the seller/developer, a partnership between Tampa-based Dunphy Development and Atlanta-based Batson-Cook Development Co. The sales price was not disclosed.

January 20, 2023

Acquisitions California Restaurant Retail Western

Tourmaline Capital Sells Center Pointe Retail Center in Menifee, California for $24.6M

by Amy Works January 20, 2023

MENIFEE, CALIF. — Tourmaline Capital has completed the disposition of Center Pointe, a newly developed shopping center located at 27281 Newport Road in Menifee. A private 1031 exchange buyer acquired the asset for $24.6 million. Sprouts Farmers Market, Wendy’s, Olive Garden, Tacos & Tequila and Paris Nails are tenants at the 41,461-square-foot property. At the time of sale, the retail center was 96 percent leased. Gleb Lvovich, Daniel Tyner and Geoff Tranchina of JLL Retail Capital Markets represented the seller in the deal.

January 20, 2023

Acquisitions Illinois Midwest Retail

Feil Organization Acquires Vacant Carson’s Store at North Riverside Park Mall in Suburban Chicago

by Kristin Harlow January 20, 2023

NORTH RIVERSIDE, ILL. — The Feil Organization, the owner and operator of North Riverside Park Mall, has acquired the vacant Carson’s store at the mall. The attached Carson’s property rises two stories and totals 180,588 square feet. In 2018, Bon-Ton Stores Inc. filed for Chapter 11 bankruptcy protection and liquidated all 256 of its Bon-Ton, Bergner’s, Boston Store, Elder-Beerman, Herberger’s, Younkers and Carson’s stores. Feil says it is in the process of finalizing redevelopment plans. Feil purchased North Riverside Park Mall in 2004. Located in the western Chicago suburb of North Riverside, the mall is home to 130 stores, services and eateries.

January 20, 2023

Loans New York Northeast Retail

Ashkenazy Acquisition Corp. Receives $20.6M Loan for Refinancing of Manhattan Retail Property

by Taylor Williams January 20, 2023

NEW YORK CITY — Locally based investment firm Ashkenazy Acquisition Corp. has received a $20.6 million loan for the refinancing of a 25,673-square-foot retail property located along Third Avenue on Manhattan’s Upper East Side. The property was fully leased at the time of the loan closing. Ronnie Levine and Ben Jacobs of Meridian Capital Group arranged the 10-year, fixed-rate acquisition loan through Bank of Montreal on behalf of ownership.

January 20, 2023

Newer Posts

Older Posts