Retail

Transwestern Secures Financing for Boston Celtics Practice Facility in Brighton, Mass.

by Haisten Willis April 13, 2017

BRIGHTON, MASS. — Transwestern Consulting Group (TCG) has arranged a construction and permanent financing loan on behalf of NB Development Group for 40 Guest St. in Brighton. According to public records, the loan amount was $76 million. TCG’s Chris Skeffington and Andrew Stone, along with NB Development’s Jim Halliday and Kevin Doyle, arranged the loan with East Boston Savings Bank. Part of the Boston Landing mixed-use development, 40 Guest St. is a planned 160,000-square-foot facility that will house the Boston Celtics’ new training and practice facility known as the Auerbach Center at New Balance World Headquarters. The project also includes two floors of Class A laboratory and office space totaling 83,500 square feet, plus 5,700 square feet of retail space. The project broke ground in November 2016, with completion expected in mid-2018. TCG provides leasing and property management services for Boston Landing.

April 13, 2017

New York Northeast Retail

Construction Begins on American Girl Place Store at 75 Rockefeller Plaza in NYC

by Haisten Willis April 13, 2017

NEW YORK CITY — Englewood Construction’s retail group has begun construction on a 40,000-square-foot American Girl Place store located at 75 Rockefeller Plaza in New York City. American Girl will move to the new space this fall from its current location at 609 Fifth Ave. The 75 Rockefeller Plaza store will be the 12th project Englewood has completed for American Girl since 2008. Cincinnati-based architecture firm FRCH Design Worldwide designed the new American Girl store, which will span two floors with direct entrances from both 51st and 52nd streets.

April 13, 2017

New Jersey Northeast Retail

M&M Brokers $2.6M Sale of Retail Property in Elizabeth, N.J.

by Haisten Willis April 13, 2017

ELIZABETH, N.J. — Marcus & Millichap has brokered the $2.6 million sale of a 16,208-square-foot retail property in Elizabeth. Michael Lombardi of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, a private investor. Lombardi also secured and represented the buyer, another private investor. The property is located at 251 N. Broad St.

April 13, 2017

Midwest Retail Wisconsin

Five Below Signs 9,586 SF Retail Lease in West Allis, Wisconsin

by Kristin Harlow April 13, 2017

WEST ALLIS, WIS. — Five Below has signed a 9,586-square-foot retail lease at West Allis Towne Centre in West Allis, six miles west of Milwaukee. The shopping center is located at 6768 W. Greenfield Ave. Tony Colvin and Dan Cohen of Mid-America Real Estate-Wisconsin LLC represented the tenant in the lease transaction.

April 13, 2017

Retail Texas

Retail Solutions Secures 25,000 SF Lease for Ross Dress for Less in Laredo

by Taylor Williams April 12, 2017

LAREDO, TEXAS — Retail Solutions has secured a 25,000-square-foot lease at Laredo Town Center, a retail center located at 5511 Bob Bullock Expressway. Chris Flesner of Retail Solutions and Jim Weir of The Retail Connection represented the landlord in the transaction Jim Tapp of The Tapp Co. represented the tenant, Ross Dress for Less.

April 12, 2017

Retail Southeast Tennessee

Branch, DeFoor to Build Publix-Anchored Shopping Center in Chattanooga

by John Nelson April 12, 2017

CHATTANOOGA, TENN. — Atlanta-based Branch Properties and DeFoor Development plan to develop The Village of Waterside, a 162,000-square-foot shopping center in Chattanooga’s Hamilton Mill neighborhood. The property, which will be anchored by Publix and REI, will be situated on 22.8 acres at the intersection of Shallowford and Gunbarrel roads. This will be the first Chattanooga store for REI, an outdoor gear and apparel retailer. Branch and DeFoor expect to deliver The Village of Waterside in late summer 2018.

April 12, 2017

Midwest Ohio Retail

Cooper Commercial Negotiates $1.5M Sale of Net Leased Chipotle Property in Sidney, Ohio

by Kristin Harlow April 12, 2017

SIDNEY, OHIO — Cooper Commercial Investment Group has negotiated the sale of a single-tenant property net leased to Chipotle Mexican Grill in Sidney for $1.5 million. The property is located about 40 miles north of Dayton near I-75. Chipotle signed a 10-year lease in 2016. Dan Cooper of Cooper Commercial represented both parties in the sales transaction. The buyer, an Ohio-based private investor, purchased the property in a 1031 exchange. The seller was a private investment group also based in Ohio.

April 12, 2017

Michigan Midwest Retail

Friedman Brokers Sale of 2,585 SF Retail Building in Royal Oak, Michigan

by Kristin Harlow April 12, 2017

ROYAL OAK, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 2,585-square-foot retail building in Royal Oak, about 15 miles north of Detroit. The sales price was not disclosed. PNC Bank owned and occupied the building located at 1710 E. 12 Mile Road. Robert Hibbert and Todd Hawley of Friedman represented both the seller and the buyer, 2015 Bellaire LLC.

April 12, 2017

Mixed-Use Multifamily Northeast Office Retail Vermont

Rouse Properties, Devonwood Investors to Redevelop Burlington Town Center in Vermont

by Haisten Willis April 12, 2017

BURLINGTON, VT. — Rouse Properties has formed a joint venture with Devonwood Investors LLC, owner of Burlington Town Center, to redevelop the retail property into a mixed-use development with apartments, retail, restaurants and offices. The joint venture is expected to close on the property in the next few weeks and will then begin construction on the project, which is expected to cost $225 million. HFF’s Porter Terry arranged the redevelopment financing. The project has received zoning approval from the Burlington Development Review Board. Groundbreaking is expected in mid-2017, with the project completed in phases over three years.

April 12, 2017

Hospitality Industrial Mixed-Use Northeast Pennsylvania Retail

MRA Group Buys 133-Acre Mixed-Use Complex in Metro Philadelphia

by Haisten Willis April 12, 2017

SPRING HOUSE, PA. — MRA Group has acquired the former Rohm & Haas research and development campus located at 727 Norristown Road in the Philadelphia suburb of Spring House. Now known as the Spring House Technology Park, the complex spans 591,000 square feet across 11 buildings. The 133-acre campus is located near the Fort Washington exit of the Pennsylvania Turnpike. MRA will renovate the park to include office and laboratory facilities, a hotel, co-working space, on-site daycare, a gym and a 40,000-square-foot retail village. The property was initially acquired in 1962 by Rohm & Haas Co. and developed into Spring House Technical Center, a research and development campus. The existing buildings were constructed between 1963 and 1995, with 75 percent dedicated to laboratory use and the rest used for offices. The Dow Co. acquired Rohm & Haas in 2012, and by 2015 Dow relocated its employees to a new facility in Collegeville, Pa. In 2015 MRA Group entered into discussions with Dow to acquire the property in its entirety, with closing occurring in late March 2017.

April 12, 2017

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