Retail

NKF Arranges $125M to Refinance High-Profile Retail Properties in San Francisco

by Amy Works December 5, 2018

SAN FRANCISCO — Newmark Knight Frank (NKF) has arranged a $125 million, fixed-rate loan to refinance 111 Maiden Lane and 201 Post Street in San Francisco. Ramsey Daya and Jonathan Soffer of NKF, along with Chris Moritz and Travis Bailey of NKF, secured the loan for a high-net-worth family through PGIM Real Estate Finance. Situated at the intersection of Post and Grant streets, the beaux-arts buildings were built in 1908 and 1909. The properties are home to the West Coast flagships of several iconic luxury brands, including Hermès, Yves Saint Laurent, Cartier and Fendi. Additionally, the assets feature 100,000 square feet of creative office space and serve as the headquarters of Venables Bell and Orlando Diaz-Azcuy.

December 5, 2018

Acquisitions Retail Texas

EDGE Realty Negotiates Sale of 73,213 SF Shopping Center in Catoosa, Oklahoma

by Taylor Williams December 5, 2018

CATOOSA, OKLA. — EDGE Realty Capital Markets has negotiated the sale of Catoosa Shopping Center, a 73,213-square-foot retail property located on the eastern outskirts of Tulsa. Regional grocer Reasor’s anchors the center, which also includes 15,000 square feet of space leased to local, service-oriented retailers. Micha van Marcke and Chace Henke of EDGE Realty represented the seller in the transaction. Other terms of sale were not disclosed.

December 5, 2018

Development Retail Texas

Williamsburg Completes Redevelopment of 70,000 SF Retail Center in Metro Houston

by Taylor Williams December 5, 2018

CYPRESS, TEXAS — Houston-based investment firm Williamsburg Enterprises has completed the redevelopment of North Cypress Landing, a 70,000-square-foot retail center in Cypress, a northwestern suburb of Houston. Williamsburg has executed leases with Star Furniture & Mattresses and Landmark Industries to bring the redeveloped center to full occupancy. Star Furniture & Mattresses, which is owned by Berkshire Hathaway, is expected to open its store in the first quarter of 2019. Nick Hernandez and Crystal Allen of Transwestern represented Star Furniture in the lease negotiations, while Neal Wade and Lunden McGill of Baker Katz represented Landmark Industries. Jeff Warwick represented Williamsburg Enterprises internally.

December 5, 2018

Development North Carolina Retail Southeast

Halpern Enterprises Completes 62,880 SF Retail Development in Raleigh

by Alex Tostado December 4, 2018

RALEIGH, N.C. — Halpern Enterprises Inc. has completed Leesville Market Place, a 62,880-square-foot retail development in Raleigh. Publix anchors the property, located inside Interstate 540 at the intersection of Leesville and Strickland roads. Situated adjacent to CVS, Walgreens, a medical office building and Leesville Towne Centre, Leesville Market Place will add tenants Hollywood Feed, Sport Clips and Noire the Nail Bar early next year.

December 4, 2018

Acquisitions Florida Retail Southeast

PREP Property Group Purchases 460,565 SF Shopping Center in Central Florida

by Alex Tostado December 4, 2018

DAVENPORT, FLA. — PREP Property Group Inc. (PREP) has purchased Posner Commons, a 460,565-square-foot shopping center in Davenport, seven miles south of Disney World’s main entrance. Built in 2008, Posner Commons is home to national tenants such as Dick’s Sporting Goods, Ross Dress for Less, JC Penney, Best Buy, PetSmart, Michaels and Cinepolis Theatre. The sales price and seller were undisclosed.

December 4, 2018

Acquisitions New York Northeast Retail

Urstadt Biddle Properties Acquires Shopping Center in Southeast, New York for $12M

by David Cohen December 4, 2018

SOUTHEAST, N.Y. — Urstadt Biddle Properties Inc. has acquired Lakeview Plaza Shopping Center in the town of Southeast for $12 million. The 177,000-square-foot property is anchored by a 54,000-square-foot Acme Supermarket and consists of five buildings on a 23-acre site. Lakeview Plaza is currently 73 percent leased to a mix of local, regional and national tenants including Rite-Aid, JPMorgan Chase, Supercuts, Subway, M&T Bank, KeyBank and Burger King. Urstadt Biddle purchased the shopping center from a lender who had foreclosed its loan on the property.

December 4, 2018

Acquisitions Colorado Restaurant Retail Western

SRS Real Estate Brokers $5.7M Sale of Red Robin-Occupied Asset in Colorado Springs

by Amy Works December 4, 2018

COLORADO SPRINGS, COLO. — SRS Real Estate Partners’ National Net Lease Group has arranged the sale of a single-tenant restaurant property, located at 1410 Jamboree Drive in Colorado Springs. A private, Minneapolis-based 1031 exchange investor acquired the asset for $5.7 million. Red Robin Gourmet Burgers occupies the 7,221-square-foot property, which was built in 1987. Brad Gibbs, Matthew Mousavi and Patrick Luther of SRS Real Estate represented the seller, a Midwest-based institutional investor, in the deal.

December 4, 2018

Arizona Loans Retail Western

Tremont Mortgage Trust Closes $12.8M Loan for 123,000 SF Retail Center in Phoenix

by Amy Works December 4, 2018

PHOENIX — Tremont Mortgage Trust has closed a $12.8 million first mortgage bridge loan to finance the acquisition of Mountainview Marketplace, a retail center located in Phoenix. Located at 3131 E. Thunderbird Road, the shopping center features 123,000 square feet of retail space. The floating-rate loan includes initial funding of $5.8 million and a future funding allowance of $7 million for property improvements and leasing capital. The loan is structured with a two-year initial term and two one-year extension options and has a loan-to-value ratio of 48 percent.

December 4, 2018

Acquisitions California Restaurant Retail Western

CalBay Development Acquires Restaurant Property in Los Angeles for $1.7M

by Amy Works December 4, 2018

LOS ANGELES — CalBay Development has purchased a restaurant property located in Los Angeles’ Sylmar neighborhood. An undisclosed seller sold the freeway-oriented site for $1.7 million. A Denny’s restaurant occupies the property. Matt LoPiccolo of CBRE brokered the transaction.

December 4, 2018

Leasing Activity Retail Texas

Floor & Décor to Open 79,864 SF Store in Metro Houston

by Taylor Williams December 4, 2018

HUMBLE, TEXAS — Floor & Décor will open a 79,864-square-foot store within Park Air 59, a 111-acre mixed-use development in Humble, located near Houston’s George Bush Intercontinental Airport. Construction of the space is expected to begin in January. Austin Alvis of NewQuest Properties and Preston Cunningham of Cunningham Ventures represented the developer, Archway Properties, in the negotiations. Jeff Kittleson and Matt Keener of CBRE represented Floor & Décor.

December 4, 2018

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