Retail

Shorenstein Properties, Nichols Partnership to Develop One Platte Office/Retail Project in Denver

by Amy Works February 12, 2020

DENVER — A joint venture between Shorenstein Properties and Nichols Partnership has unveiled plans for One Platte, a five-story office and retail development located at 1701 Platte St. in downtown Denver. Situated on 1.5 acres in the Central Platte Valley neighborhood, One Platte will feature a 250,000-square-foot building offering 240,000 square feet of office space and 10,000 square feet of ground-floor retail space. The Beck Group is providing design-build services for the development. The building will feature floor-to-ceiling windows with views of the Rocky Mountains and Denver skyline. Amenities include a lounge, rooftop terrace, event spaces, fitness center, bicycle lockers and a secure underground parking facility. Construction started Feb. 11 on the project, with completion slated for early 2022.

February 12, 2020

Colorado Development Multifamily Restaurant Retail Western

Continuum Partners, CIM Group Complete 319-Unit Multifamily Building at Urban Infill Project in Denver

by Amy Works February 12, 2020

DENVER — 9th Avenue (Denver) Land, a joint venture between Continuum Partners and CIM Group, has opened Milo, a market-rate multifamily building at 9+CO, a mixed-use property in Denver. Designed by Shears Adkins Rockmore Architects, Milo features 319 micro, studio, one-, two- and three-bedroom apartments across two buildings. The units range from 370-square-foot micro units with built-in wardrobes and murphy beds to 1,590-square-foot three-bedroom flats. Ground-floor units include walk-up private entrances and two-story townhomes. Additional unit finishes include stainless steel appliances, walk-in closets, in-unit washers/dryers and balconies in select units. Community amenities include co-working office space; roof deck with grills, fire pits and seating; a hot tub; heated lap pool; resident lounge with entertaining kitchen; shuffleboard table; 24-hour fitness center; secured parking garage; bicycle and ski repair center; pet and bicycle wash; and storage units on every floor. Milo is the second market-rate residential building at 9+CO, joining the 275-unit Theo development that opened in May 2018. The 26-acre urban infill project is located at the site of the former University of Colorado Health Sciences Center in Denver. The project will ultimately comprise approximately 2 million square feet of mixed-use space. Currently signed retailers include Fluff Salon, Sweet Combforts, Elevation …

February 12, 2020

Development Illinois Midwest Retail

CMX CinéBistro Set to Open This Week at Wheeling Town Center in Suburban Chicago

by Kristin Harlow February 12, 2020

WHEELING, ILL. — CMX CinéBistro is set to open at Wheeling Town Center on Friday, Feb. 14 in suburban Chicago. The movie theater anchors the retail portion of the mixed-use project. Spanning 40,000 square feet CMX CinéBistro Wheeling will offer a bar and lounge area, seven screens, reclining seats and tables for food and beverage service. After 8 p.m., movie goers must be 21 years of age or older. Previous tenants who have opened at Wheeling Town Center include Starbucks, Inland Bank, AT&T and City Works. The apartments at the project opened in spring 2019 and are more than 70 percent leased.

February 12, 2020

Loans Retail Texas

JLL Arranges Loan for Refinancing of 471,752 SF Retail Power Center Near Houston

by Taylor Williams February 12, 2020

CONROE, TEXAS — JLL has arranged a loan of an undisclosed amount for the refinancing of 336 Marketplace, a 471,752-square-foot retail power center in Conroe, about 40 miles north of Houston. The center is situated on 72 acres and houses tenants such as Kroger, Michaels, Dick’s Sporting Goods, Marshalls, Five Below, Ross Dress for Less, HomeGoods, Ulta Beauty, DSW and Burlington. Colby Mueck, Molly Leinsdorf and Tolu Akindele of JLL arranged the nonrecourse, fixed-rate loan through The Guardian Life Insurance Co. of America on behalf of the borrower, Fidelis Realty Partners.

February 12, 2020

Acquisitions Indiana Midwest Retail

JLL Brokers $1.7M Sale of Property Net Leased to Starbucks in Hammond, Indiana

by Kristin Harlow February 11, 2020

HAMMOND, IND. — JLL Capital Markets has brokered the $1.7 million sale of a 2,100-square-foot property net leased to Starbucks in Hammond near Chicago. Constructed in 2019, the single-tenant building features a drive-thru. It is located at 906 Indianapolis Blvd. Alex Sharrin and Nicholas Kanich of JLL represented the seller, Luke Land LLC. A Maryland-based private buyer purchased the asset in a 1031 exchange.

February 11, 2020

Acquisitions North Carolina Retail Southeast

Branch Properties Sells Sprouts-Anchored Shopping Center in Greensboro, North Carolina for $38.4M

by Alex Tostado February 11, 2020

GREENSBORO, N.C. — Branch Properties LLC has sold Westridge Square, a 182,000-square-foot, Sprouts Farmers Market-anchored retail center in Greensboro, for $38.4 million. Branch Properties has been renovating the property for four years. The renovation included moving Sprouts into a 30,524-square-foot space that Harris Teeter formerly occupied. The seller also reconfigured Kohl’s to a smaller footprint to make room for Planet Fitness. Westridge Square is situated at the intersection of Battleground Avenue and Westridge Road, five miles northwest of downtown Greensboro. Berkley Capital Advisors represented the seller in the transaction. Select-Westridge LLC, an affiliate of Birmingham, Ala.-based McDonald Group Inc., acquired the property.

February 11, 2020

Development Idaho Restaurant Retail Western

ShowBiz Cinemas to Develop Entertainment Center in Idaho Falls, Idaho

by Amy Works February 11, 2020

IDAHO FALLS, IDAHO — ShowBiz Cinemas plans to develop one of its Bowling, Movies and More! entertainment centers at Jackson Hole Junction in Idaho Falls. This location will be ShowBiz Cinemas’ first complex in Idaho; the company currently operates locations in Texas, Oklahoma and Florida. Slated to open in December, the entertainment center will be located at Sunnyside Road #116 Exit off Interstate 15. Construction is currently underway, with the official groundbreaking ceremony scheduled for Feb. 27. Bowling, Movies and More! entertainment center at Jackson Hole Junction will feature 14 boutique bowling lanes, an arcade with redemption center, multiple party rooms, a lane-side café with expansive food and drink options, full bar, concessions area and eight movie auditoriums with recliner seating. Additionally, the development will feature a Superior Digital Experience auditorium with 4K digital laser projection, Dolby Atmos surround sound and a four-story, 70-foot-wide screen. ShowBiz Cinemas will anchor the 44-acre Jackson Hole Junction commercial project at Sunnyside Road and Interstate 15. The development will also feature retail, business, dining and hospitality space.

February 11, 2020

California Loans Retail Western

Ready Capital Closes $20.2M Refinancing for Retail Center in Santa Ana, California

by Amy Works February 11, 2020

SANTA ANA, CALIF. — Ready Capital has closed a $20.2 million for a 60,000-square-foot Class B retail neighborhood center in Santa Ana. The non-recourse, floating-rate loan features a 24-month term, one extension option and flexible prepayment. Additionally, the loan includes a facility to provide future funding for capital expenditures and tenant leasing costs. The undisclosed sponsor will use loan proceeds to pay off existing debt while continuing to make cosmetic upgrades and leasing tenants at market rents.

February 11, 2020

Acquisitions Net Lease Nevada Restaurant Retail Western

Marcus & Millichap Brokers $3.8M Restaurant Property Sale in Las Vegas

by Amy Works February 11, 2020

LAS VEGAS — Marcus & Millichap has arranged the sale of a restaurant asset located in Las Vegas. A private family trust acquired the asset from a private investor for $3.8 million. Todd Manning of Marcus & Millichap’s Las Vegas office represented the seller in the deal. IHOP occupies the 4,700-square-foot building, which is located at 9480 W. Sahara Ave., on a net-lease basis.

February 11, 2020

Development North Carolina Retail Southeast

Topgolf to Open Second Charlotte Location on City’s North Side

by Alex Tostado February 10, 2020

CHARLOTTE, N.C. — Topgolf Entertainment Group will open its second Topgolf venue in Charlotte by the end of the year. The new location will be dubbed Topgolf North Charlotte and will be situated at the intersection of Interstate 85 and University City, near University of North Carolina-Charlotte, Charlotte Motor Speedway and Northlake Mall. Topgolf North Charlotte will sit on 14 acres and is expected to create 500 jobs. Topgolf opened its first Charlotte venue two years ago at 8024 Savoy Corporate Drive in the southwestern part of the city.

February 10, 2020

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