Retail

Union Investment Real Estate Purchases High-End Retail Property in Chicago

by Kristin Harlow November 4, 2021

CHICAGO — Union Investment Real Estate has purchased 59-65 E. Oak St., a one-block stretch of high-end retail space in Chicago. The purchase price was $120 million, according to Crain’s Chicago Business. The price represents the largest amount paid for any retail asset sold in Chicago since 2016, according to CBRE. Keely Polczynski of CBRE Capital Markets represented both the buyer and the seller, Jenel Real Estate, which acquired two separate parcels in 2016, demolished them and rebuilt a 32,000-square-foot building that now houses high-end retailers Chanel, Van Cleef & Arpels, Moncler and Le Colonial. Based in Germany, Union Investment is an international investment manager specializing in open-ended real estate funds for private and institutional investors.

November 4, 2021

Acquisitions Georgia Retail Southeast

Halpern Enterprises Acquires 80,773 SF Retail Property in Metro Atlanta

by Julia Sanders November 3, 2021

MCDONOUGH, GA. — Halpern Enterprises Inc. has acquired McDonough West, an 80,773-square-foot shopping center in McDonough. Harbour Retail Partners was the seller. The sales price was not disclosed. Built in 2000, McDonough West was 92 percent leased at the time of sale and anchored by a 30,000-square-foot Goodwill Store and Donation Center. The neighborhood retail center includes tenants such as Planet Fitness, Dollar Tree, Subway and Cato, along with a Delta Community Credit Union located on an outparcel at the front of the property. Located at 250 Jonesboro Road, McDonough West is situated at the intersection of Jonesboro Road and McDonough Parkway, adjacent to Kroger-anchored McDonough Crossing Shopping Center.

November 3, 2021

Acquisitions Retail Texas

JLL Negotiates Sale of 93,377 SF Westside Market Shopping Center in Frisco

by Taylor Williams November 3, 2021

FRISCO, TEXAS — JLL has negotiated the sale of Westside Market, a 93,377-square-foot shopping center located in the northern Dallas suburb of Frisco. Built in 2017 and anchored by a Tom Thumb grocery store with a fueling station, the property was fully leased at the time of sale. Other tenants include Subway, Great Clips, Pure Barre, Today’s Vision, Aqua-Tots Swim School and Ideal Smile & Orthodontics. Chris Gerard and Ryan Shore of JLL represented the undisclosed seller in the transaction. Locally based investment firm Tabani Group purchased the asset for an undisclosed price.

November 3, 2021

Acquisitions Midwest Retail Wisconsin

Stan Johnson Co. Arranges $2.4M Sale of Property Net Leased to Sherwin-Williams in Milwaukee

by Kristin Harlow November 3, 2021

MILWAUKEE — Stan Johnson Co. has arranged the sale of a 3,500-square-foot retail property net leased to Sherwin-Williams in Milwaukee for $2.4 million. The building is located at 1216 S. 1st St. and was constructed in 2018. Blaise Bennett of Stan Johnson represented the seller, a Wisconsin-based developer. A Texas-based private equity group was the buyer. The sales price represents a cap rate of 5.1 percent, a new record for a Sherwin-Williams property in the Midwest, according to Stan Johnson.

November 3, 2021

Leasing Activity New York Northeast Retail

Target to Open 90,000 SF Store at Macerich’s Kings Plaza Shopping Center in Brooklyn

by Taylor Williams November 3, 2021

NEW YORK CITY — Target will open a 90,000-square-foot store at Kings Plaza, an enclosed shopping center by California-based REIT Macerich (NYSE: MAC) in Brooklyn. Target will backfill a three-story anchor building previously occupied by J.C. Penney. An expected opening date was not released. Other retailers at Kings Plaza include Macy’s, Zara, Burlington, Primark and Michael Kors.

November 3, 2021

Industrial Loans Retail Self-Storage Texas

Cronheim Mortgage Arranges $7.8M Refinancing for Self-Storage, Retail Asset Near Fort Worth

by Taylor Williams November 2, 2021

CHATHAM, N.J. — New Jersey-based Cronheim Mortgage has arranged a $7.8 million loan for the refinancing of a self-storage and retail asset located in the Fort Worth area. The property, formerly a grocery-anchored retail center, consists of a CubeSmart-branded self-storage facility with roughly 1,000 units and a 10,000-square-foot retail space occupied by Goodwill. David Turley, Janet Proscia and David Poncia of Cronheim arranged the nonrecourse, fixed-rate loan on behalf of the borrower, an affiliate of California-based DealPoint Merrill. An undisclosed national bank provided the loan. The address of the property was not disclosed.

November 2, 2021

Acquisitions Colorado Restaurant Retail Western

Blue West Capital Negotiates Sale of Mineral Shops in Littleton, Colorado

by Amy Works November 1, 2021

LITTLETON, COLO. — Blue West Capital has brokered the sale of Mineral Shops, a neighborhood retail center at 4760 W. Mineral Ave. in Littleton. Terms of the transaction were not released. Mineral Shops features 9,910 square feet of retail space and was 100 percent occupied at the time of sale. Tenants include Rita B Salon, Blush Nail Salon, King Liquor, Dunkin’ and Columbine Dentistry. Robert Edwards and Carly Kelly of Blue West Capital represented the buyer, a Texas-based private real estate investment company, and seller, a San Francisco-based private real estate investor, in the deal.

November 1, 2021

Acquisitions Arizona Restaurant Retail Western

Phoenix Commercial Advisors Brokers $10M Sale of Shops at Cooley Station Near Phoenix

by Amy Works November 1, 2021

GILBERT, ARIZ. — Phoenix Commercial Advisors has negotiated the sale of Shops at Cooley Station, two hard-corner retail shop buildings located at 4049 E. Williams Field Road in Gilbert. The property traded for $10 million, or $628 per square foot. The names of the buyer and seller were not released. The 15,912-square-foot building was fully occupied at the time of sale. Current tenants include Pacific Dental, Wing Stop, F45, Little Caesars, Life Quest and My House. Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the deal.

November 1, 2021

Acquisitions California Restaurant Retail Western

Progressive Real Estate Arranges $2.7M Acquisition of Jack in the Box Property in Los Angeles County

by Amy Works November 1, 2021

POMONA, CALIF. — Progressive Real Estate Partners has brokered the purchase of a restaurant property located at 101 W. Foothill Blvd. in Pomona. A San Gabriel, Calif.-based private investor acquired the asset from an undisclosed seller for $2.7 million. Mike Lin of Progressive Real Estate Partners represented the buyer in the deal. Jack in the Box has occupied the property, which features a drive-thru lane, for more than 30 years. Originally built in 1976, the property underwent a major renovation in 2020 to reflect the current store branding.

November 1, 2021

Leasing Activity New York Northeast Retail

Bathhouse Signs 34,328 SF Retail Lease in Manhattan’s Flatiron District

by Taylor Williams November 1, 2021

NEW YORK CITY — Bathhouse, a provider of high-end spa services, has signed a 34,328-square-foot retail lease at 7 West 21st St. in Manhattan’s Flatiron District. The location within Friedland Properties’ 289,809-square-foot residential building will be the company’s first in Manhattan to accompany its space in Brooklyn’s Williamsburg area. Jason Pruger and Lucas Kooyman of Newmark represented Friedland Properties in the lease negotiations. Ross Eisenberg of RDE Advisors Inc. represented Bathhouse.

November 1, 2021

Newer Posts

Older Posts