Retail

Shops-Victoria-Gardens-Rancho-Cucamonga-CA

Fit Development Sells Retail Strip Center in Rancho Cucamonga for $13.7M

by Amy Works March 27, 2020

RANCHO CUCAMONGA, CALIF. — Fit Development has completed the sale of Shops at Victoria Gardens, a retail strip center adjacent to the Victoria Gardens lifestyle center in Rancho Cucamonga. An undisclosed buyer acquired the property for $13.7 million. Constructed in 2007, the 31,405-square-foot property is leased to a diverse mix of service-oriented, daily needs and soft-goods tenants, including DXL Men’s Apparel, Pacific Dental and Shakey’s Pizza. The asset is situated on 2.6 acres at 12455 Victoria Gardens Lane. Daniel Tyner and Gleb Lvovich of JLL Retail Capital Markets represented the seller in the deal.

March 27, 2020

Acquisitions Arizona Retail Western

ORION Arranges $6.3M Sale of Brittany Square Retail Center in Glendale, Arizona

by Amy Works March 27, 2020

GLENDALE, ARIZ. — ORION Investment Real Estate has brokered the sale of Brittany Square, a retail center located at the corner of 67th and Peoria avenues in Glendale. An undisclosed seller sold the asset for $6.3 million, or $129 per square foot. Situated on 5.2 acres, Brittany Square features 49,004 square feet of retail space and on-site parking. At the time of sale, the property was 69 percent occupied by a variety of tenants, including Walmart Neighborhood Market, Starbucks Coffee, Chase Bank, Goodwill, O’Reilly Auto Parts and Circle K. The undisclosed buyer purchased the property as a long-term leased investment and plans to occupy a portion of the property for its medical-related business. Nick Miner of ORION represented the seller, while Tom Kolb of KW Commercial represented the buyer in the transaction.

March 27, 2020

Acquisitions New Jersey Northeast Retail

Vantage Real Estate Brokers Sale of 3,150 SF Retail Property in Magnolia, New Jersey

by Alex Patton March 27, 2020

MAGNOLIA, N.J. — Vantage Real Estate Services has brokered the sale of a 3,150-square-foot retail property in Magnolia, a southeastern suburb of Philadelphia. The property is located at 130 S. White Horse Pike near a Walmart store and several other retail and restaurant businesses. Monica Walsh, Aran Ploshansky and Bruce Goldstein of Vantage represented the seller, East Coast Enterprises LLC. The buyer was Makellos Cabinetry, a Philadelphia-based kitchen renovation company.

March 27, 2020

Indiana Loans Midwest Minnesota Retail

NorthMarq Arranges $23.1M in Financing for Two Retail Properties in Minnesota, Indiana

by Kristin Harlow March 27, 2020

ST. LOUIS PARK, MINN. AND FISHERS, IND. — NorthMarq has arranged two separate loans with different life insurance companies for two retail properties in Minnesota and Indiana. First, NorthMarq arranged an $18.3 million acquisition loan for Park Place Plaza in St. Louis Park. The 87,975-square-foot property consists of four multi-tenant retail buildings. The center was fully leased at the time of closing. Major tenants include PetSmart and Office Depot. The 10-year loan features a 25-year amortization schedule. The second loan totaled $4.8 million for the refinancing of Fishers Gateway Shops in Fishers. The 21,330-square-foot neighborhood shopping center, located at 9001 E. 116th St., was also fully leased at the time of closing. The 10-year loan features a 25-year amortization schedule. David Garfinkel of NorthMarq arranged both loans. He also secured a $19.5 million acquisition loan for a property in Washington on behalf of the same borrower.

March 27, 2020

Acquisitions Midwest Restaurant Retail Wisconsin

JLL Negotiates $2.4M Sale of Giordano’s-Occupied Property in Kenosha, Wisconsin

by Kristin Harlow March 27, 2020

KENOSHA, WIS. — JLL Capital Markets has negotiated the $2.4 million sale of a 4,500-square-foot, single-tenant retail building net leased to Giordano’s restaurant in Kenosha. Completed in late 2019, the property is located at 7060 Green Bay Road. It is the first Giordano’s location in Wisconsin. Chicago-based Giordano’s, famous for deep dish pizza, opened in 1974 and operates nearly 70 locations. Alex Sharrin, Nicholas Kanich and Larry Kilduff of JLL represented the seller, Speedwagon Properties. JLL also procured the buyer, a Chicago-based family.

March 27, 2020

Leasing Activity Michigan Midwest Retail

Two New Tenants to Open at West Oaks Shopping Center in Novi, Michigan

by Kristin Harlow March 27, 2020

NOVI, MICH. — Milan Laser and US Mattress will soon join the tenant lineup at West Oaks Shopping Center in Novi. Milan Laser will occupy the 1,624-square-foot space formerly home to GameStop. US Mattress will take the 2,600-square-foot space formerly occupied by Art Van Pure Sleep. Tjader Gerdom, Larry Siedell and Michael Murphy of Gerdom Realty & Investment represented the landlord, RPT Realty. West Oaks is located at I-96 and Novi Road, directly across the street from Twelve Oaks Mall.

March 27, 2020

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 43,631 SF Shopping Center in Houston

by Taylor Williams March 27, 2020

HOUSTON — Marcus & Millichap has brokered the sale of 7555 Bellaire, a 43,631-square-foot shopping center in Houston. The property was built in 2004 and houses tenants such as Family Thrift Center, Alegria Dental Care and Club Fit. Justin Miller and Davis Hansen of Marcus & Millichap represented the seller, a Houston-based partnership, in the transaction. Additional terms of sale were not disclosed.

March 27, 2020

New York Northeast Retail

FEMA, U.S. Army to Convert Javits Convention Center in Manhattan Into 2,000-Bed Field Hospital to Treat Coronavirus Patients

by Alex Patton March 26, 2020

NEW YORK CITY — The Federal Emergency Management Agency (FEMA) and the U.S. Army Corps. of Engineers (USACE) have begun a rapid conversion of the 1.8-million-square-foot Javits Convention Center in Manhattan into a 2,000-bed field hospital to treat coronavirus patients, according to a statement from New York Gov. Andrew Cuomo. FEMA is constructing four 250-bed temporary hospitals in the main showroom of the center, each approximately 40,000 square feet in size. A staff of 320 FEMA workers will be assigned to the facility. The USACE is constructing an additional 1,000-bed facility on the site. The makeshift hospital is slated for completion within a week. As of March 26, The Wall Street Journal tracked 33,033 cases of coronavirus in New York — nearly half the number of all cases in the country — and 366 confirmed deaths.

March 26, 2020

Massachusetts Northeast Retail

Stop & Shop to Donate $1M to Support Regional Food Bank Partners in Fulfilling Coronavirus Needs in Northeast

by Alex Patton March 26, 2020

QUINCY, MASS. — Stop & Shop, a metro Boston-based regional grocer, will donate $1 million to support its food bank partners across the Northeast in their efforts to fulfill community needs amid the coronavirus outbreak. Proceeds will fund workers who may not be compensated during temporary work closures, as well as to support children without access to free meals at school and existing clients who currently face food insecurity. The donation will be divided among the grocer’s 13 partners, including Greater Boston Food Bank, Rhode Island Community Food Bank and Food Bank for NYC. Stop & Shop operates 415 stores across the Northeast, all of which have remained operational with reduced hours and other restrictions.

March 26, 2020

Acquisitions California Healthcare Loans Office Retail Western

Thorofare Capital Funds $23.8M Acquisition Loan for Mixed-Use Portfolio in Beverly Hills

by Amy Works March 26, 2020

BEVERLY HILLS, CALIF. — Thorofare Capital has provided a $23.8 million loan for the acquisition of a mixed-use portfolio in Beverly Hills. Marc Schillinger and Eric Boucher of JLL advised the undisclosed borrower in the financing transaction. The acquisition includes two properties. The first is 415 North Camden Drive, a 17,936-square-foot building offering retail, medical and office space in the Beverly Hills Golden Triangle district. The second is a 10,884-square-foot medical office building located at 152-160 S. Lasky Drive.

March 26, 2020

Newer Posts

Older Posts