Retail

Meridian Capital Arranges $16M in Financing for Retail Center in El Segundo

by Amy Works November 8, 2018

EL SEGUNDO, CALIF. — Meridian Capital Group has arranged $16 million in financing to refinance The Hub – El Segundo, a retail property located at 600-630 N. Sepulveda Blvd. in El Segundo. Decron Properties is the borrower. Seth Grossman and Jackie Tran of Meridian Capital Group negotiated the seven-year loan, provided by a life insurance company, that features an extended period of interest-only payments followed by a 30-year amortization schedule. In-N-Out Burger, El Pollo Loco, Anytime Fitness and FedEx are tenants at the 37,000-square-foot property, which was built in 1990 and renovated in 2016.

November 8, 2018

Acquisitions Illinois Midwest Net Lease Retail

Boulder Group Arranges $16M Sale of Property Net Leased to Jewel-Osco in Oak Lawn, Illinois

by Kristin Harlow November 8, 2018

OAK LAWN, ILL. — The Boulder Group has arranged the $16 million sale of a single-tenant property net leased to Jewel-Osco in Oak Lawn, a southwest suburb of Chicago. The 47,370-square-foot property is situated on 3.6 acres at 4650 W. 103rd St. Randy Blankstein and Jimmy Goodman of Boulder represented both parties in the sale. A Southwest-based private real estate investment company sold the asset to an investor based in Australia.

November 8, 2018

Acquisitions Midwest Ohio Retail

Alterra Buys 82,946 SF Shopping Center in Johnstown, Ohio for $3M

by Kristin Harlow November 8, 2018

JOHNSTOWN, OHIO — Alterra Real Estate Advisors has purchased Johnstown Village Square for $3 million. The 82,946-square-foot shopping center is located at 633-759 W. Coshocton St. in Johnstown, about 25 miles northeast of Columbus. The property sits on 10.7 acres and is currently 67 percent occupied. Tenants include Tractor Supply, Goodwill, Dollar Tree and H&R Block. Alterra plans to make improvements to the property. The firm will lease and manage the property.

November 8, 2018

Acquisitions Midwest Minnesota Retail

Marcus & Millichap Negotiates $4.6M Sale of Retail Property in Minnesota

by Kristin Harlow November 8, 2018

APPLE VALLEY, MINN. — Marcus & Millichap has negotiated the $4.6 million sale of a 5,511-square-foot retail property in Apple Valley, a suburb of the Twin Cities. Starbucks and Sleep Number fully occupy the building. Austin Weisenbeck, Daniel Dalmaso and Sean Sharko of Marcus & Millichap secured and represented the Minnesota-based buyer. Matthew Hazelton assisted in closing the transaction as the broker of record in Minnesota. The seller was not disclosed.

November 8, 2018

Acquisitions Retail Texas

Gordon Partners Acquires 95,960 SF Retail Center in Houston

by Taylor Williams November 8, 2018

HOUSTON — Houston-based Gordon Partners has acquired University Plaza, a 95,960-square-foot retail center in Houston. The property was built in 1979 and is leased to tenants such as Goodwill, Dollar Tree, Arby’s and The UPS Store. Micha van Marcke and Chace Henke of EDGE Realty Capital Markets represented the undisclosed seller in the transaction.

November 8, 2018

Development Retail Southeast Tennessee

CBL Properties Opens 228,000 SF Shopping Center in Cookeville, Tennessee

by Amy Works November 8, 2018

COOKEVILLE, TENN. — CBL Properties, along with Browning Development Solutions and CHM LLC, has opened The Shoppes at Eagle Point, a power retail center located on Interstate Drive in Cookeville. Publix, Academy Sports + Outdoor, Ross Dress for Less, PetSmart, Shoe Carnival and Ulta Beauty anchor the 228,000-square-foot shopping center. Additional tenants include Panera Beach and Chipotle Mexican Grille, among other shops and restaurants.

November 8, 2018

Loans Mixed-Use Multifamily Office Retail South Carolina Southeast

Eyzenberg & Co. Arranges $26M Bridge Loan for Mixed-Use Property in Myrtle Beach

by Amy Works November 8, 2018

MYRTLE BEACH, S.C. — Eyzenberg & Co. has secured a $26 million first mortgage bridge loan to replace a $22.6 million construction loan for THEBlvd, a mixed-use property in Myrtle Beach. Land South of MB LLC is the borrower and retained Eyzenberg & Co. last year as its financial advisor for the development of THEBlvd. David Eyzenberg, Jeff Conti and Anastasia Vladislavova of Eyzenberg & Co. arranged the loan, which was provided by Rialto Capital Management. Located at 1410 N. Ocean Blvd., the 42,000-square-foot property features live entertainment, restaurant and retail space. At the time of financing, the recently completed property was 70 percent leased to tenants, including Tin Roof, Banditos Cantina, BurgerFi and Starbucks Coffee.

November 8, 2018

Acquisitions Georgia Retail Southeast

Palomar Group, Berkeley Capital Arrange $11.6M Sale of Retail Center in Warner Robins, Georgia

by Amy Works November 7, 2018

WARNER ROBINS, GA. — Palomar Group and Berkeley Capital have brokered the sale of Crossroads Marketplace, a retail property located on Watson Boulevard in Warner Robins, about 19 miles south of Macon. A Georgia-based 1031 exchange buyer acquired the property from a Charlotte-based regional investment group for $11.6 million. Best Buy and Bed Bath & Beyond anchor the 78,832-square-foot retail center. Ryan McArdle, David Rivers, Steve Collins, Jefferson Knox and Lee Malchow of Palomar Group, along with Berkeley Capital, handled the transaction.

November 7, 2018

Loans New York Northeast Retail

Meridian Capital Group Arranges $22M Refinancing for Shopping Center in Spring Valley, New York

by David Cohen November 7, 2018

SPRING VALLEY, N.Y. — Meridian Capital Group has arranged a $22 million loan to refinance Central Crossing, a 115,000-square-foot shopping center in Spring Valley. Located at 175 East Central Ave., the shopping center is currently 98 percent leased to a tenant roster that includes Food Fair, Planet Fitness and Popeyes. Eli Serebrowski of Meridian secured the financing for the undisclosed borrower through a balance sheet lender. The loan features 10-year term with a rate of 4.2 percent and a 30-year amortization schedule.

November 7, 2018

Acquisitions Northeast Retail Vermont

Marcus & Millichap Brokers $2.3M Sale of Shopping Center in Vermont

by David Cohen November 7, 2018

WINDSOR, VT. — Marcus & Millichap has brokered the $2.3 million sale of Price Chopper Plaza, a 30,674-square-foot, grocery-anchored shopping center in Windsor. Located at 2781 US Route 5, the center is occupied by three service-based tenants, including Price Chopper, a regional grocery operator that has been at the site since 1998. The other tenants at the property include Dollar General and Aubuchon Hardware. Mark Krantz and Derrick Dougherty of Marcus & Millichap represented the seller, Gary Richetelli of Commercial Development Co., in the transaction. The buyer was a real estate investment firm based in Pittsburgh.

November 7, 2018

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