Retail

GID Signs Puttshack to 26,000 SF Lease at High Street Development in Atlanta

by Julia Sanders September 23, 2021

ATLANTA — Puttshack, a mini golf and entertainment provider, has signed a second lease in Atlanta at High Street, a $2 billion, 36-acre mixed-use property in Perimeter Center Parkway on the northside of Atlanta. National real estate developer, owner and operator GID Development Group is developing High Street and inked the lease with Puttshack. Puttshack is the first anchor tenant to be announced for High Street. The mini golf retailer will have more than 26,000 square feet of space and will feature four custom-made, tech-driven mini golf courses. The property will also feature ‘Trackaball’ technology, which includes automated scoring, bonus points opportunities and interactive games at each hole. The entertainment venue will also have a dining menu and full cocktail bar. The first phase of the project will break ground this year and is slated to open by 2023. The project will include 150,000 square feet of entertainment-driven retail and restaurants, approximately 600 rental apartments, 90,000 square feet of loft offices and 222,000 square feet of existing office space. Located at 211 Perimeter Center Parkway, High Street is situated at the intersection of Perimeter Center Parkway and Hammond Drive. The project is also located close to the Dunwoody MARTA Station, …

September 23, 2021

Acquisitions Arizona Restaurant Retail Western

Macerich Co. Sells La Encantada Lifestyle Center in Tucson for $165.2M

by Amy Works September 23, 2021

TUCSON, ARIZ. — Macerich Co. has completed the disposition of La Encantada, an open-air lifestyle center in Tucson. A group of local investors acquired the property for $165.2 million. JLL Capital Markets arranged a $102 million acquisition loan for the buyer. Completed in 2003, La Encantada offers 246,256 square feet of retail space. At the time of sale, the property was 93 percent leased. Current tenants include Crate & Barrel, Tiffany & Co., West Elm, Anthropologie, Athleta, Lululemon, Pottery Barn, Madewell, Warby Parker, Williams-Sonoma, Bluemercury, Barre 3, Core Health & Fitness, Fuchsia Spa and Laseraway, AJ’s Fine Foods, RA Sushi Bar and Restaurant, North Italia and Blanco Tacos + Tequila. Patrick Dempsey of JLL Capital Markets Investment Sales and Advisory represented the seller in the deal. Jeremy Womack and Zane Coffman of JLL Capital Markets Debt Advisory team represented the new owner in the acquisition financing.

September 23, 2021

California Leasing Activity Retail Western

Crazy Boss Big Discount Store Leases 103,000 SF Anchor Space in Fontana, California

by Amy Works September 23, 2021

FONTANA, CALIF. — Crazy Boss Big Discount Store has signed a lease to occupy 103,000 square feet of anchor space at 17099 Valley Blvd. in Fontana. Slated to open this fall, the new location will be within the 285,000-square-foot Vineyard Valley Center. Other tenants at Vineyard Valley Center include Food 4 Less, Big Lots, dd’s Discounts and several other shops, restaurants and services. Paul Galmarini of Progressive Real Estate Partners and Justin Altemus of The Altemus Co. co-listed the property and represented the undisclosed landlord in the deal. Galmarini also represented the tenant.

September 23, 2021

Indiana Leasing Activity Midwest Restaurant Retail

Prodigy Burger Bar, Big Bear Biscuits Sign Leases at Lakefront at Keystone in Indianapolis

by Kristin Harlow September 23, 2021

INDIANAPOLIS — Prodigy Burger Bar and Big Bear Biscuits have signed long-term leases to share 10,000 square feet in the former Scotty’s Brewhouse space at 3905 E. 96th St. within Lakefront at Keystone, a Class A office park in Indianapolis. Both restaurants anticipate opening in early 2022. Prodigy Burger Bar, currently owned by O’Reilly’s Holdings LLC, opened its first location in 2017 and now maintains six eateries in Carmel, Geist, Greenwood, Indianapolis, Kokomo and West Carmel. Big Bear Biscuits, a partnership between Indianapolis restaurateur Keith Reilly and Indianapolis chef Dean Sample, is a new venture offering breakfast and lunch options with biscuits and a local coffee program. Both restaurants will offer indoor and outdoor dining, catering, delivery and carryout service. Scott Wise and Steve Delaney of CBRE represented ownership, Rubenstein Partners LP and Strategic Capital Partners LLC. Gary Perel of ALO Property Group represented the tenants.

September 23, 2021

Acquisitions Arizona Restaurant Retail Western

LJ Mainstreet Holdings Buys Grand Village Center Retail Property in Surprise, Arizona for $5M

by Amy Works September 23, 2021

SURPRISE, ARIZ. — Boros Investments has completed the disposition of Grand Village Center, a retail property located at 14273 and 14291 W. Grand Ave. in Surprise. LJ Mainstreet Holdings acquired the asset for $5 million. The 25,653-square-foot Grand Village Center is fully leased to eight tenants, including Church for the Nations, Zona Communications, D’Ambrosio, Full Service Salon and Master Taco Restaurant. The buyer also acquired two adjacent undeveloped land parcels from a different seller and plans to build additional retail buildings on the site. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller in the deal.

September 23, 2021

Acquisitions Florida Retail Southeast

Private Investor Purchases Crossroads Center Retail Property in Margate, Florida for $10.7M

by Julia Sanders September 22, 2021

MARGATE, FLA. — Investor and president of Current Capital Management, Todd Nepola, has purchased the Crossroads Center in Margate for $10.7 million. SW Global Inc was the seller. Located at 5000 Coconut Creek Parkway, the Crossroads Center has 84,500 square feet of space with tenants including Dollar General and Hollywood Institute of Beauty. A new lease was just signed with Chen Medical for a 7,400-square-foot space in the center. The center was built in 1983. Harry Chas Chaskalson of NEG Property brokered the sales transaction. Southstate Bank provided a $9 million loan with $7.3 million used to fund the sales transaction and the remainder held back for renovations on the center. The planned renovations include painting and minor remodeling of the center, as well as landscape, signage and lighting improvements. Current Capital Management has now acquired over 400,000 square feet of commercial centers in south Florida since 2020 and has purchased five properties in just over 18 months.

September 22, 2021

Acquisitions Retail Texas

Structure Commercial Arranges Sale of 101,136 SF Eastgate Shopping Center in Metro Dallas

by Taylor Williams September 22, 2021

GARLAND, TEXAS — Locally based brokerage firm Structure Commercial has arranged the sale of Eastgate Shopping Center, a 101,136-square-foot retail property located in the northeastern Dallas suburb of Garland. A 195,912-square-foot Walmart Supercenter sits adjacent to the center, which houses tenants such as Aaron’s, Texas DPS and Jumping World. Eric Deuillet, Scott Rose and John Hiller of Structure Commercial represented the undisclosed seller and procured a family trust as the buyer. Eastgate Shopping Center was 100 percent leased at the time of sale.

September 22, 2021

Acquisitions Florida Retail Southeast

Avanti Way Capital Acquires Shoppes at Lake Mary in Metro Orlando for $8.4M

by Julia Sanders September 21, 2021

LAKE MARY, FLA. — Avanti Way Capital has acquired Shoppes at Lake Mary, a 37,685-square-foot shopping center located at 101 N. Country Club Road in Lake Mary. Avanti Way Capital purchased the 4.6-acre development from Miami-based real estate investment firm, Galium Capital, for $8.4 million. New York-based Morgan Stanley provided a $5.4 million acquisition loan for the sale. Dan Gorczycki and Peter Stobierski of TrueRate Services arranged the loan. Located off Lakeview Avenue and State Road 15, Shoppes at Lake Mary was originally built in 1985 and is situated about 19 miles from downtown Orlando. The shopping center was 94 percent leased at the time of sale to tenants including Lake Mary Dry Cleaners, Debs Kitchen, Lighthouse Seafood, Morganic Meats and Foxcase LLC. The property has 175 parking spaces. Avanti Way Capital is a Miami-based real estate asset management firm with roughly $1 billion worth of properties in Florida.

September 21, 2021

Hospitality Loans Mixed-Use Office Retail Washington Western

Gantry Arranges $190M in Financing for Carillon Point Mixed-Use Property Near Seattle

by Amy Works September 21, 2021

KIRKLAND, WASH. — Gantry has arranged a $190 million loan to recapitalize the Carillon Point mixed-use campus in Kirkland. Mike Taylor and Patrick Taylor of Gantry’s Seattle office secured the 15-year loan, which was placed with Principal Real Estate Investors. The name of the borrower was not released. Fronting Lake Washington, the 26-acre property features a mix of Class A office space, a boutique hotel, retail space and a 200-slip marina. Carillon Point totals six buildings and offers 440,000 square feet of mixed-use space, including the 100-room hotel.

September 21, 2021

Acquisitions California Restaurant Retail Western

Phillips Edison Sells 96,224 SF Atwater Marketplace in Central California

by Amy Works September 20, 2021

ATWATER, CALIF. — Phillips Edison & Co. has completed the disposition of Atwater Marketplace, a shopping center located at 1601-1853 Bellevue Road in Atwater. A Los Angeles-based private investor acquired the property for an undisclosed price. Kevin Fryman and Eric Wohl of Hanley Investment Group represented the seller, while Brett Visintainer of Visintainer Group of Fresno represented the buyer in the deal. The 96,224-square-foot Atwater Marketplace was 100 percent occupied at the time of sale. Current tenants include Save Mart, CVS/pharmacy, Ace Cash Express, Baskin Robbins, Chase, Chinese Kitchen, Freeway Insurance, GameStop, Great Clips, Merco Credit Union, Rebobank, RE/MAX, Roundtable Pizza and Sourdough & Co.

September 20, 2021

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