Retail

Cronheim Mortgage Arranges $5.2M Loan for Retail, Office Property in Winston-Salem

by Camren Skelton September 1, 2017

WINSTON SALEM, N.C. — Cronheim Mortgage has secured a $5.2 million loan for St. George Square, a 41,000-square-foot retail and office property in Winston-Salem. Allison Villamagna, Andrew Steward and Dev Morris of Cronheim structured the 10-year loan with a 20-year amortization schedule through Standard Insurance Co. on behalf of the borrower, an entity managed by The Bedrin Organization. At the time the loan was placed, St. George Square was fully leased to a mix of retail and office tenants including Salons by JC, Berkshire Hathaway Home Services, Regus Office Centers, State Farm Insurance, Tropical Smoothie Café, Nothing Bundt Cakes and Painting with a Twist. The property is situated across from Hanes Mall Boulevard and roughly seven miles south of Wake Forest University.

September 1, 2017

Retail Texas

Partnership to Open 18,000 SF Entertainment Center in Fort Worth

by Taylor Williams September 1, 2017

FORT WORTH, TEXAS — A partnership that includes creators of the restaurant BREWED and residential real estate firm 6th Ave. Homes will open The 4 Eleven in Fort Worth. The project involves transforming an 18,000-square-foot warehouse located at 411 S. Main St. into a center with an events venue and a variety of shops. Committed tenants include Alchemy Pops, a provider of frozen pops; Winton and Waits, an accessories and home goods store; and The Greenhouse 817, a design studio. The opening is scheduled for late October.

September 1, 2017

Indiana Loans Midwest Retail

Associated Bank Provides $3.1M Acquisition Loan for Land Site in Hammond, Indiana

by Kristin Harlow September 1, 2017

HAMMOND, IND. — Associated Bank has provided a $3.1 million loan for the acquisition of a 1.4-acre land site located at 7905-17 Indianapolis Blvd. in Hammond, about 25 miles southeast of Chicago. The borrower, GW Properties, plans to build a multi-tenant retail building at the site. The 9,250-square-foot building will be divided into four retail spaces. Completion is slated for the second quarter of 2018. Brian Rogan of Associated Bank originated the loan.

September 1, 2017

California Retail Western

Perfumania Files for Chapter 11, Plans to Close 24 Western Stores

by Nellie Day September 1, 2017

SAN FRANCISCO — Store closing sales are underway at select Perfumania store locations. The nationwide sale is being conducted by Gordon Brothers and its joint venture partner, Hilco Global. Perfumania, one of America’s largest fragrance retailers, filed for Chapter 11 bankruptcy protection on August 26, 2017 as part of a recapitalization. While Gordon Brothers and Hilco Global will be liquidating the inventory for 65 stores nationwide, Perfumania will continue operating over 150 of its stores. West Coast locations set to close include: Anchorage 5th Avenue Mall in Anchorage, Alaska Tucson Mall in Tucson, Ariz. Paradise Valley Mall in Phoenix Chandler Fashion Center in Chandler, Ariz. Tucson Premium Outlets in Tucson, Ariz. Serramonte Center in Daly City, Calif. Las Americas Premium Outlets in San Diego The Outlets at Orange in Orange, Calif. Outlets at San Clemente in San Clemente, Calif. The Oaks Mall in Thousand Oaks, Calif. Camarillo Promenade in Camarillo, Calif. Plaza West Covina in West Covina, Calif. Desert Hills Premium Outlets in Cabazon, Calif. Gilroy Premium Outlets in Gilroy, Calif. Westfield Palm Desert in Palm Desert, Calif. Westfield San Francisco Centre in San Francisco Chula Vista Center in Chula Vista, Calif. Fashion Outlet of Las Vegas in Primm, Nev. …

September 1, 2017

California Retail Western

Young Hickory to Open at IDEA1 Mixed-Use Development in San Diego

by Nellie Day September 1, 2017

SAN DIEGO — CBRE has announced that Young Hickory — a café offering local coffee, craft beer, breakfast and lunch — will open a 1,577-square-foot location at IDEA1, a mixed-use development by Lowe Enterprises, LaSalle Investment Management and I.D.E.A. Partners in San Diego’s East Village neighborhood. The development, which opens in December, will feature a mix of apartment homes, live/work lofts, retail and an outdoor collaborative workplace. CBRE’s Reg Kobzi and Michael Peterson represented the tenant and the landlord, IDEA1 Property LLC, on the 10-year lease.

September 1, 2017

District of Columbia Retail Southeast

Five New Tenants Join 430,000 SF Shopping Center in D.C.

by Camren Skelton August 31, 2017

WASHINGTON, D.C. — Trammell Crow Co. (TCC), along with Fort Lincoln New Town Corp. and CSG Urban Partners, have signed five new tenants at the Shops at Dakota Crossing, a 430,000-square-foot retail center located at 2438 Market St. N.E. in Washington, D.C. Chick-fil-A, Mecho’s, Dominican Kitchen, Jersey Mike’s and the Transit Employees Federal Credit Union signed long-term leases at the center, bringing total occupancy to 91 percent. The retailers are expected to open later this year. Over the past four months, tenants including Panda Express, Visionworks, T-Mobile, Vitamin Shoppe and Starbucks Coffee have signed leases at the center, which is also home to larger tenants including Costco, Lowe’s Home Improvement, Dick’s Sporting Goods, Marshalls and PetSmart. Lisa Stoddard and Abby Davids of CBRE are responsible for the property’s leasing assignment.

August 31, 2017

Retail Southeast Tennessee

Chase Properties Purchases 268,000 SF Retail Center in Jackson, Tennessee

by Camren Skelton August 31, 2017

JACKSON, TENN. — Chase Properties Ltd. has acquired The Columns, a 268,000-square-foot shopping center in Jackson. The shopping center is home to tenants including Ross Dress for Less, Best Buy, Old Navy, Marshalls and Bed Bath & Beyond. Kohl’s, Ulta Beauty, Dick’s Sporting Goods and Hobby Lobby shadow-anchor the property. Retail Properties of America Inc. sold the asset for an undisclosed price. Disney Investment Group brokered the sale. The transaction marks Beachwood, Ohio-based Chase Properties’ third acquisition in the past year.

August 31, 2017

Indiana Midwest Retail

Berengaria Development Acquires 277,000 SF Retail Center in Valparaiso, Indiana

by Kristin Harlow August 31, 2017

VALPARAISO, IND. — Berengaria Development LLC has acquired Porter’s Vale Shopping Center in Valparaiso in northwestern Indiana for an undisclosed price. The 277,059-square-foot shopping center is located along Highway 49. The property was 96 percent leased at time of purchase to tenants including Dick’s Sporting Goods, Five Below, Home Goods, Hobby Lobby, Party City, Cinemark, Kirkland’s, Gordman’s, McAllister’s Deli, Massage Envy and Mattress Firm. A 103,000-square-foot J.C. Penney shadow anchors the property. A 190,000-square-foot Meijer store will be completed in summer 2018. Paul Barile of Transwestern represented the undisclosed seller in the transaction.

August 31, 2017

Illinois Midwest Retail

Broad Reach Acquires 70,000 SF Shopping Center in Wood River, Illinois

by Kristin Harlow August 31, 2017

WOOD RIVER, ILL. — Broad Reach Retail Partners has acquired the Wood River Centre in Wood River, located 15 miles north of St. Louis. The purchase price was not disclosed. A Walmart Supercenter anchors the 70,000-square-foot shopping center. The center is 60 percent occupied by tenants including Dollar Tree, H&R Block, Sally Beauty, Taco Bell and Wendy’s.

August 31, 2017

Retail Utah Western

Mountain West Brokers Sale of 168,494 SF Shopping Center Near Salt Lake City

by Nellie Day August 30, 2017

HOLLADAY, UTAH — Mountain West Commercial Real Estate has arranged the sale of Van Winkle Shopping Center, a 168,494-square-foot retail center located in Holladay, 11 miles southeast of Salt Lake City. VASA Fitness anchors the property. Chris Monson of Mountain West represented the seller, Glen Kitto. Ben Brown, also of Mountain West, represented the buyer, an undisclosed private investor.

August 30, 2017

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