Retail

Petrie Richardson, PGIM Real Estate Break Ground on Nordstrom Rack at Woodmore Towne Centre

by John Nelson October 7, 2016

GLENARDEN, MD. — Petrie Richardson Ventures and PGIM Real Estate, co-owners and developers of the 700,000-square-foot Woodmore Towne Centre, have broken ground on a new Nordstrom Rack store. Situated on a five-acre parcel within Woodmore Towne Centre in Glenarden, the 30,000-square-foot store will serve as Prince George’s County’s first Nordstrom Rack. The parcel will also include 29,000 square feet of retail and restaurant space for tenants that will be announced in the coming months. Woodmore Towne Centre is currently 90 percent leased to tenants including Wegmans, Costco, JC Penney, Best Buy, Petco, Chipotle Mexican Grill, Subway, KBQ Barbeque, Noodles & Co. and Irie Bar & Grill. Recently opened retailers and restaurants include Hook and Reel Cajun Seafood Restaurant, Honu Hawaiian BBQ and Kumon Learning Center. Kobe Japanese Steak & Food and Wings 21 will open later this year at Woodmore Towne Centre.

October 7, 2016

Midwest Ohio Retail

Marcus & Millichap Brokers $7.8M Sale of 57,692 SF Retail Property in Cincinnati

by Amy Works October 6, 2016

CINCINNATI — Marcus & Millichap has arranged the sale of a retail property located at 6401 Colerian Ave. in Cincinnati. A local REIT sold the property to an out-of-state REIT for $7.8 million. The 57,692-square-foot property is triple net leased to Kroger through 2020. Craig Fuller, Scott Wiles and Erin Patton of Marcus & Millichap represented the seller and buyer in the deal.

October 6, 2016

Midwest Retail Wisconsin

Friedman Facilitates Sale of 47,000 SF Shopping Center in Oshkosh, Wisconsin

by Amy Works October 6, 2016

OSHKOSH, WIS. — Friedman Integrated Real Estate Solutions has arranged the sale of Oshkosh Center, a shopping center located at 1935-1989 S. Koeller St. in Oshkosh. Alpha Opportunity Fund I sold the property to 1935 South Koeller Street at auction through Ten-X.com for an undisclosed price. The 47,000-square-foot property is occupied by Petco and Dalton Carpet Outlet. Rich Deptula and Victor Lewis of Friedman represented the seller and buyer in the transaction.

October 6, 2016

Mixed-Use Multifamily New York Northeast Office Retail

IPA Facilitates $29.3M Sale of Mixed-Use Property in Queens

by Amy Works October 6, 2016

NEW YORK CITY — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Roosevelt, a mixed-use property located at 40-07 73rd St. in the Jackson Heights neighborhood of Queens. An undisclosed buyer acquired the property for $29.3 million. The building features 31 residential units, 10 commercial tax lots and a parking garage. Peter Von Der Ahe and Joe Koicim of IPA, along with Shaun Riney and Michael Salvatico of Marcus & Millichap, represented the undisclosed seller and procured the buyer in the deal.

October 6, 2016

Mixed-Use New York Northeast Office Retail

TerraCRG Arranges $5.1M Sale of Conversion Site in Brooklyn

by Amy Works October 6, 2016

NEW YORK CITY — TerraCRG has arranged the sale of a former daycare facility, located at 1057 Fulton St. in the Clinton Hill neighborhood of Brooklyn. An undisclosed buyer acquired the building for $5.1 million, or $493 per square foot. The buyer plans to convert the 10,337-square-foot property, which was vacant at the time of sale, into a mixed-use building. Ofer Cohen, Dan Marks and David Algarin of TerraCRG were the sole brokers in the transaction.

October 6, 2016

Healthcare Office Restaurant Retail Texas

Kroger Marketplace, Retailers Opening in Grand Morton Town Center in Katy

by Haisten Willis October 6, 2016

KATY, TEXAS — The first round of retailers will open Oct. 28 in the 89-acre Grand Morton Town Center, including a 125,531-square-foot Kroger Marketplace. The NewQuest Properties project, being developed in phases, ultimately will bring 600,459 square feet of retail, restaurants and medical offices to the neighborhood. Opening in tandem with Kroger Marketplace will be Ideal Dental, Supercuts, T-Mobile and Today’s Vision, totaling 7,700 square feet. Rebecca Le and Josh Friedlander of Houston-based NewQuest will handle leasing. Grand Morton Town Center includes more than three-quarters of a mile of frontage along Grand Parkway. About 60 percent of the project is pre-leased, leased or under negotiation for a lease. The project also includes 16 pad sites, four of which will be occupied by McDonald’s, Taco Bell, Chick-fil-A and Whataburger.

October 6, 2016

Kentucky Retail Southeast

Thompson Thrift Breaks Ground on 185,000 SF Retail Center in West Kentucky

by John Nelson October 6, 2016

HOPKINSVILLE, KY. — Thompson Thrift Development has begun construction on Hopkinsville Towne Center, a 185,000-square-foot, junior-anchored retail center in Hopkinsville. Situated on the northwest corner of Fort Campbell Boulevard and Lovers Lane, the asset’s tenant roster includes Hobby Lobby, TJ Maxx, Ross Dress for Less, rue 21, Ulta Beauty, Burke’s Outlet, Hibbett Sporting Goods, Rack Room Shoes, Maurice’s, Cato and Panera Bread. Hopkinsville Towne Center’s first tenants are expected to open in late 2017 or early 2018. Kevin Schreiber and Kevin Mayhugh of The Shopping Center Group are leasing the property on behalf of Thompson Thrift. The Shopping Center Group and Thompson Thrift have worked with city and county officials since 2012 to assemble and develop the 20-acre site.

October 6, 2016

Illinois Midwest Mixed-Use Multifamily Retail

Jameson Commercial Negotiates $1.7M Sale of Mixed-Use Property in Chicago

by Amy Works October 5, 2016

CHICAGO — Jameson Commercial has arranged the sale of a mixed-use property located at 837 N. Orleans in Chicago’s River North district. An undisclosed investment group acquired the property for $1.7 million. The building features three condo-quality apartments and ground-floor retail space. Justin Collins of Jameson Commercial represented the undisclosed seller in the deal.

October 5, 2016

Massachusetts Northeast Office Retail

CBRE/NE Brokers Sale of 62,474 SF Office/Retail Building in Cambridge, Massachusetts

by Amy Works October 5, 2016

CAMBRIDGE, MASS. — CBRE/New England has arranged the sale of an office and retail building located at 1050 Massachusetts Ave. in Cambridge. Putnam Circle Associates sold the 62,474-square-foot property to L&B Realty Advisors for an undisclosed sum. The property is currently leased to several long-term office tenants, including Cambridge 7 Associates, the National Bureau of Economic Research and Northstar Project & Real Estate Services. Pyara Spa & Salon is currently the sole retail occupier in the first-floor retail space. Dave Pergola, Brian Doherty and Chuck Kavoogian of CBRE/NE represented the seller and procured the buyer in the transaction.

October 5, 2016

Hawaii Retail Western

Applebee’s Opens First Restaurant in Hawaii

by Nellie Day October 5, 2016

HONOLULU — Applebee’s Grill and Bar has opened its first restaurant in Hawaii, located in Ewa Beach on Oahu. The new Applebee’s restaurant features the brand’s new American-made, wood-fired grill menu. A second Applebee’s location is already planned to open next year at the Ka Makana Alii Mall in West Oahu. With more than 2,000 locations now in all 50 states, Guam, Puerto Rico and 15 countries, Applebee’s is one of the world’s largest casual dining brands. Applebee’s is franchised by subsidiaries of DineEquity Inc., which is among the world’s largest full-service restaurant companies.

October 5, 2016

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