REBusinessOnline

Mohr Capital Sells Texas Roadhouse Ground Lease in Steubenville, Ohio

STEUBENVILLE, OHIO — Mohr Capital, a Dallas-based, privately held real estate investment firm, has sold a ground lease occupied by Texas Roadhouse in Steubenville, nearly 40 miles west of Pittsburgh. The sales price was undisclosed. The restaurant property is located across the street from Fort Steuben Mall. Mohr acquired the ground lease in 2019 upon the launch of its retail acquisition and redevelopment division. Rob Solls of Mohr represented the company on an internal basis. The Mansour …

Gridline Properties Arranges $5.4M Sale of Former Methodist Church and School in Miami

MIAMI — Gridline Properties has arranged the sale of a former Methodist church and school in Miami for $5.4 million. The 28, 947-square-foot property is located at 205 NE 87th St. in Miami’s Upper East Side and within El Portal Village. Built in 1952, the former Rader Memorial United Methodist Church has been vacant for more than 10 years.Gridline’s Alfredo Riascos represented the sellers, Seth Gadinsky of Gadinsky Real Estate LLC and Samuel Soriero of Group 10 Capital Management LLC, …

NAI Isaac Facilitates Retail Lease with Buzzed Bull Creamery in Lexington, Kentucky

LEXINGTON, KY. — NAI Isaac has facilitated a retail lease with Buzzed Bull Creamery at The Summit Fritz Farm in Lexington. Zach Smith and Paul Ray Smith of NAI Isaac represented the tenant alongside Sherry Sanchez with RESOLUT RE. Samantha Merrell of Bayer Properties represented the landlord on an internal basis.Buzzed Bull Creamery is an ice cream and milkshake purveyor offering made-to-order, alcohol and non-alcohol frozen desserts and coffee. The ice cream business has locations in 12 …

Marcus & Millichap Arranges $2.5M Sale of Raising Cane’s-Occupied Property in Indiana

MISHAWAKA, IND. — Marcus & Millichap has arranged the sale of a 3,320-square-foot restaurant property occupied by Raising Cane’s in Mishawaka for $2.5 million. The newly constructed, single-tenant building is located at 5212 N. Main St. and was the first Raising Cane’s to open in the Indiana market. Chris Lind, Mark Ruble, Zack House and Brennan Clegg of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Buyer information was

Piazzetta Italian Kitchen & Bar to Open 3,000 SF Restaurant in West Islip, New York

WEST ISLIP, N.Y. — Piazzetta Italian Kitchen & Bar has signed a lease to open a 3,000-square-foot restaurant at a 19,757-square-foot retail center in the Long Island hamlet of West Islip. The center is under construction at 425 Union Blvd. and will house other tenants such as 7-Eleven and Brownstone Coffee. Christopher Mayor and Lawrence Densen of Island Associates Real Estate brokered the lease negotiations. The restaurant will be the chain’s

George Smith Partners Arranges $45.6M Loan for Lido Marina Village in Newport Beach

NEWPORT BEACH, CALIF. — George Smith Partners has arranged $45.6 million in bridge financing on behalf of DJM Capital for the recapitalization of Lido Marina Village, a multi-block, waterfront retail and office property on Balboa Peninsula in Newport Beach.Lido Marina Village features 106,000 square feet of retail, restaurant and office space in 14 separate structures, including waterfront retail and restaurant space, as well as 47 boat slips. Current tenants include Nobu, Malibu Farm, …

RCP Breaks Ground on Apartment Building in Huntsville, Alabama

HUNTSVILLE, ALA. — RCP Cos. has broken ground on Metronome at MidCity, a five-story multifamily building featuring 296 apartment homes with retail and restaurant space on the ground floor. The property is located in Huntsville’s MidCity District, a $1 billion mixed-use project underway at the intersection of University Drive and Research Park Boulevard.Metronome is situated in the heart of MidCity’s 140-acre district. The property’s open tenants include Topgolf, REI Co-op, Dave & …

Turnbridge Equities, Waterford Property Co. Acquire City Place Long Beach Mixed-Use Property in Southern California

LONG BEACH, CALIF. — A partnership between Turnbridge Equities and Waterford Property Co., along with Monument Square Investment Group, has purchased City Place Long Beach, a 14-acre, large-scale, open-air, mixed-use development in downtown Long Beach. The partnership first acquired the loan on the asset at the end of 2020 and now reached an agreement to take over ownership of the property.Originally the site was Long Beach Plaza Mall, an enclosed shopping mall that was built in 1982 and …

JLL Arranges $4.3 Million Sale of Retail Building in Long Beach, California

LONG BEACH, CALIF. — JLL Capital Markets has arranged the $4.5 million sale of a newly constructed, 1,839-square-foot retail building at 5865 E. Spring St. that is triple-net leased to The Coffee Bean & Tea Leaf in Long Beach.Adam Friedlander of JLL marketed the property on behalf of the seller, Pacific West Property Group Inc. An undisclosed private investor acquired the property in an all-cash transaction as part of a 1031 exchange. Alan Wong of DAAG Developments acted as the …

SRS Brokers $2.9M Sale of Starbucks-Occupied Property in Porterville, California

PORTERVILLE, CALIF. — SRS Real Estate Partners has arranged the sale of a freestanding, single-tenant retail building located at 421 Vandalia Ave. in Porterville. A Southern California-based owner and developer sold the asset to a California-based investor in a 1031 exchange for $2.9 million, or $960 per square foot.Built in 2008, the 2,992-square-foot property was originally an El Pollo Loco restaurant until it was renovated in 2020 for Starbucks Coffee, which occupies the property under …

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