HAVERSTRAW, N.Y.- NorthMarq Capital has arranged $18.5 million in refinancing for The Rosman Center, a grocery-anchored retail center located in Haverstraw. A 60,453-square-foot ShopRite anchors the 123,073-square-foot property. Gary Cohen of NorthMarq secured the financing through NorthMarq’s correspondent relationship with a life insurance company for the undisclosed borrower.
NEW YORK CITY – Cushman & Wakefield has arranged the sale of a mixed-use property located at 217 E. Third St. in Manhattan’s East Village neighborhood. An undisclosed buyer acquired the property from the estate of Michael Mendez for $5.1 million. The mixed-use property consists of a vacant turn-key restaurant space on the ground floor and three free-market, floor-through apartments. The property is approximately 4,160 square feet above grade, not including a one-story structure situated at the rear of the site and separated by a small courtyard area. Additionally, the property includes 4,700 square feet of air rights and a useable basement that houses mechanicals and a storage area. Michael DeCheser of Cushman & Wakefield represented the seller in the transaction.
COTTAGE GROVE, MINN. — Cushman & Wakefield has negotiated a 38,000-square-foot lease for a new T.J. Maxx and HomeGoods store at Grove Plaza in Cottage Grove, 10 miles south of St. Paul. The new store is part of an ongoing repositioning of Grove Plaza, which was formerly home to a Home Depot and Rainbow Foods. T.J. Maxx and HomeGoods will sit just east of a 95,700-square-foot Hy-Vee grocery store that opened last year. Completion is slated for this fall. Deb Carlson of Cushman & Wakefield represented the landlord, EBL-S, in the lease transaction.
WOBURN, MASS. – NKF and Cushman & Wakefield have arranged the sale of Montvale Hill, a development parcel in Woburn, a suburb of Boston. Leggat McCall Properties acquired the development opportunity from Kraft Heinz for an undisclosed price. The development site can accommodate users from 300,000 square feet to 700,000 square feet. Torin Taylor, Justin Smith and Robert Griffin of NKF, along with Christopher Porter of Cushman & Wakefield, represented the seller in the deal.
SAN DIEGO — Pacific Coast Commercial has arranged a 2,459-square-foot lease for retail space located at 2155 Kettner Blvd. in San Diego. F45 Training plans to open a Kloiber Fit, a high-end fitness center, at the space, which is located at AV8, a 129-unit apartment complex. Erik Anderson of Pacific Coast Commercial represented the tenant, while Alex Drecksel and Pasquale Loele of Flocke & Avoyer represented the landlord, CVCM Kettner 106 LLC, in the transaction. The lease is valued at $1.3 million.
PIXLEY, CALIF. — Retail California has negotiated the sale of a retail building located at 339 N. Park Drive in Pixley. FD Partners sold the property to Dr. Donald Studt for an undisclosed price. The property features 8,320 square feet of retail space. Lewis Smith and John Lee of Retail California and Calvin Short of Matthews Retail Advisors arranged the transaction.
WALNUT CREEK, CALIF. — Soft Surroundings, a lifestyle brand committed to providing clothing, accessories, beauty and home goods to women, has plans to open 16 locations in 2018, including entering the California market. The St. Louis-based company is opening locations in Santa Rosa, Mission Viejo, Rancho Cucamonga and Walnut Creek, Calif., as well as Marlton, N.J., Columbia, Md., Orlando and Harrisburg, Pa. Additional markets will be announced in the near future. The new locations will feature the merchandise found in Soft Surroundings’ catalogs and website, in addition to some store-exclusive items.
ATLANTA — Dine-in theater concept iPic Theaters will open its first Georgia location at Midtown Atlanta’s Colony Square, a mixed-use destination under redevelopment by North American Properties. Located at the corner of Peachtree and 14th streets, Colony Square was originally built in 1968. Upon completion, the reimagined development will include 260,000 square feet of retail and restaurant space, 262 apartment units, 940,000 square feet of office space, a 466-room hotel and community gathering spaces. The new iPic Theater will operate nine auditoriums seating between 40 and 60, alongside a 6,700-square-foot restaurant/bar. In addition to traditional movies, the theater will feature live shows including magic, comedy and gaming competitions. iPic Theater is expected to open at Colony Square in 2020.
HOMEWOOD, ILL. — The Boulder Group has arranged the $2.9 million sale of a single-tenant property net leased to Walgreens in Homewood, a southern suburb of Chicago. The 13,905-square-foot retail property is located at 820 183rd St. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Southeast-based real estate investment firm. A West Coast-based real estate investment firm purchased the asset. Walgreens has over 12 years remaining on its lease.
AURORA, OHIO — PEBB Enterprises has sold Marketplace at Four Corners in Aurora, southeast of Cleveland, for $15.8 million. The 116,436-square-foot shopping center is home to tenants such as Stein Mart, Kirkland’s, Torrid, Old Navy, Party City and Gabe’s. PEBB purchased the property in 2013 when it was vacant, and has since made upgrades to the exteriors, landscaping and lighting, as well as added a new ground-up development. The property is now 100 percent occupied. The buyer was not disclosed.
