JOHNSTOWN, OHIO — Cooper Commercial Investment Group has brokered the sale of Kyber Run in Johnstown near Columbus for $2.7 million. The 15,292-square-foot retail center is home to five tenants and is shadow anchored by Kroger. Bob Havasi and Dan Cooper of Cooper represented the seller, an East Coast-based private investment group. The sales price represents a cap rate of 7.95 percent.
DENVER — HFF has arranged $165 million in permanent financing for Dairy Block, a mixed-use asset in downtown Denver. The borrower is a joint venture partnership between McWHINNEY, Grand American and Sage Hospitality. Eric Tupler and Brock Yaffe of HFF secured the long-term debt with MetLife Investment Management. The borrowers will use the loan proceeds to refinance the construction loan on the property. Diary Block consists of three components: Dairy Block, a newly built, six-story, 218,660-square-foot office space with 380-space subterranean parking garage. Firehouse Block, a historic 92,803-square-foot office and retail space along Blake Street. Maven Hotel, a 172-key boutique hotel. Operated by Sage Hospitality, the eight-story property features a 175-seat Kachina Cantina along with Poka Lola Social Club.
ONTARIO, CALIF. — Hanley Investment Group Real Estate has brokered the sale of two retail pad buildings, totaling 21,591 square feet in Ontario, in two separate transactions totaling $5.6 million. The properties are part of a Walgreens-anchored neighborhood center, which was built in 2007. Kevin Fryman of Hanley Investment Group represented the seller, an Ontario, Calif.-based private developer, in both transactions. In the first deal, a Southern California-based private investor acquired a two-tenant, 13,381-square-foot building, situated on 1.3 acres at 2645 E. Riverside Drive, for $3.2 million. A 7,200-square-foot O’Reilly Auto Parts and a corporate office fully occupy the property. Jeff Lin of Marcus & Millichap’s Ontario, Calif., office represented the buyer. In the second transaction, a Temple City, Calif.-based private investor purchased an 8,210-square-foot retail pad, located on 1.1 acres at 2665 E. Riverside Drive in Ontario, for $2.4 million. The property is fully occupied by seven tenants, including Subway, Wonderful Massage, Empire Barbers, IE Vapes, First Rate Staffing, Les Tax and a management company. Watson Yeh of Temple City-based EZ Max Realty represented the buyer in the deal.
GREENSBORO, N.C. — Tanger Factory Outlets Center Inc. (NYSE: SKT) has sold four non-core outlet malls for $130.5 million. The four centers are located in Nags Head, N.C.; Ocean City, Md.; Park City, Utah; and Williamsburg, Iowa. The four properties were 95.8 percent occupied at the time of the sale. Greensboro-based Tanger Outlets expects to use $128.7 million of the proceeds to pay off existing debt. Tanger operates 40 outlet malls across 20 states and Canada. The company is planning to build a mall in downtown Nashville. The buyer(s) was not disclosed. Tanger Outlets’ stock price opened at $20.64 per share Monday, down from $22.16 per share one year ago.
MARIETTA, GA. — Marietta Square Market, an 18,500-square-foot food hall, has opened at 68 N. Marietta Parkway NW in the Historic Marietta Square District. Concordia Properties LLC and Creative Culinary Ventures LLC developed the asset, which is located adjacent to historic railroad tracks, to resemble a turn-of-the-century train station. Marietta Square Market offers a central bar, indoor and outdoor seating and 20 vendors. Kelly Wilson of Ackerman Retail is handling leasing efforts for Marietta Square Market.
SAN ANTONIO — Dallas-based ARCO/Murray has broken ground on an entertainment facility in San Antonio for Chicken N Pickle, a concept that features pickle ball, bocce ball, shuffleboard and other games. The venue will also include an 18,000-square-foot restaurant. Kansas City-based Yeager Architecture is designing the property, a completion date for which was not released.
BONITA SPRINGS, FLA. — Marcus & Millichap has arranged the $14.2 million sale of North Bay Village, a 114,545-square-foot retail property in Bonita Springs. North Bay Village was 73 percent occupied at the time of the sale, and the buyer, a private investor through a 1031 exchange, signed long-term leases with Hertz, Emaint and Keller Williams Real Estate to bring the asset to 98 percent occupancy. Other tenants include Bonefish Grill, Mattress Firm and Edible Arrangements. Jim Shiebler, James Garner and James Medefind of Marcus & Millichap represented the seller, a private investor, in the transaction.
SENECA FALLS, N.Y. — NorthMarq has secured $2.7 million in acquisition financing for Liberty Center Plaza, an 80,846-square-foot retail property in Seneca Falls. The property’s major tenants include Tractor Supply Company and The Salvation Army. Robert Ranieri of NorthMarq secured the financing on behalf of the undisclosed borrower. Terms of the financing include a seven-year fixed term with a 25-year amortization schedule. The lender was undisclosed.
HOUSTON — Three new food and beverage concepts will open at Memorial City, a 265-acre mixed-use development in Houston owned by local firm MetroNational. A 7,000-square-foot space will be built for alcoholic beverage provider Kirby Ice House, with construction beginning this summer and the bar opening in fall 2020. A 5,830-square-foot space will be constructed for burger and milkshake concept Mia’s Table, and a 4,550-square-foot space will be built for Austin-based Torchy’s Tacos. Construction of both of those venues will begin this spring, with openings slated for next spring.
AUSTIN, TEXAS — Baceline Investments LLC, a Denver-based boutique real estate investment firm, has acquired Dakota Plaza, a 21,700-square-foot retail center in Austin, for $4.2 million. The property, which was built in 2006 and is located at 8516 Anderson Mill Road, was acquired in conjunction with shopping centers in Milwaukee, Louisville, Ky., and Maybrook, Ill.