NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use property located at 106 Franklin St. in Manhattan’s Tribeca East Historic District. An undisclosed buyer acquired the 10,500-square-foot property for $11.5 million, or $1,095 per square foot. Partially vacant at the time of sale, the five-story building features 4,200 square feet of additional air rights. Will Suarez and Maurice Suede of Cushman & Wakefield represented the undisclosed seller, while Rachel Glazer of Brown Harris Stevens represented the buyer in the deal.
CHICAGO — Cushman & Wakefield has brokered the sale of a 1.2-acre retail site on Chicago’s southwest side for $2 million. The buyer, a private investor and developer, plans to redevelop the site into a retail shopping center. The property, located at 5501 S. Kedzie Ave. in Chicago’s Gage Park, was most recently home to a Bank of America branch. The area is traveled by more than 54,000 vehicles per day, and more than 62,000 people live within a mile of the site. Nicholas Kanich of Cushman & Wakefield represented both the buyer and the seller, 5501 S. Kedzie LLC. The buyer plans to break ground on the shopping center this spring.
COLUMBIA-TUSCULUM, OHIO — Fit Food Stop has signed a 2,400-square-foot lease at 3528 Columbia Parkway in Columbia-Tusculum, a neighborhood east of downtown Cincinnati. The company produces pre-cooked, individually portioned food that is organic and gluten-free. This is the second location for the company, which opened its first store in Oakley last year. The store in Columbia-Tusculum is set to open this spring. Tori Sunderman of CBRE represented the landlord in the transaction.
HOUSTON — Morgan, a multifamily development, construction and property management firm, has broken ground for the construction of its latest Pearl apartment development in Houston’s Midtown district. Located at 3120 Smith St., the project will feature a 40,000-square-foot Whole Food Market on the ground floor and 264 apartment units above. Slated to open in 2019, the new development will be located across the street from the first phase of Morgan’s Pearl Midtown, which opened in 2014. Amenities at the development will include a dog park and wash area, bike storage room, Uber waiting room, sky lounge, pool and a fitness center. Ziegler Cooper is serving as architect, while Carnegis Group is providing interior design services.
THE WOODLANDS, TEXAS — The Howard Hughes Corp. and its wholly owned subsidiary The Woodlands Development Co. have opened a self-storage property located on College Park Drive in The Woodlands. The 654-unit property is the company’s initial national venture into self-storage operations. The company is also developing a second self-storage facility along FM 2978 in The Woodlands totaling 784 units. The second facility is set to open in April. CubeSmart will manage both facilities. The properties will feature gated entries, video surveillance and individual entry alarms on each unit.
PASADENA, TEXAS — Marcus & Millichap has arranged the sale of Pasadena Park Shopping Center, a retail property located at 6801 Spencer Highway in Pasadena. A limited liability company sold the 163,992-square-foot property for an undisclosed price. At the time of sale, the property was 91 percent leased by a variety of tenants, including Big Lots, Dollar Tree, Surplus Warehouse and Harbor Freight. Jerry Goldstein of Marcus & Millichap represented the seller and secured the buyer, a limited liability company, in the deal.
CLARK, N.J. — Denholtz Associates has received $3.8 million in refinancing for two flex properties, located at 89 and 225 Terminal Ave. within Clark Commercial Center in Clark. The properties total 27,332 square feet of space. KinderCare leases 13,464 square feet of space at 89 Terminal Avenue, and Retro Fitness leases 13,868 square feet of space at 225 Terminal Avenue. Brad Fouss of OceanFirst Bank arranged the refinancing for the borrower through OceanFirst Bank.
DALLAS — Northwood Retail, a subsidiary of Northwood Investors, has acquired Hillside Village, a shopping center located at the corner of Mockingbird Lane and Abrams Road in east Dallas. Current tenants at the 169,299-square-foot property include Stein Mart, Olivella’s Neo Pizza Napoletana, Dream Café, White Rock Coffee and Manny’s Lakewood Tex-Mex. The buyer has engaged SHOP Cos. to assist with leasing the property. The name of the seller and acquisition price were not released.
NORTH RICHLAND HILLS AND TOMBALL, TEXAS — NewQuest Properties has arranged two leases for retail space in North Richland Hills and Tomball. In the first deal, Cellphone Trendz leased 1,050 square feet of retail space at North Tarrant Marketplace in North Richland Hills. Josh Friedlander provided in-house representation for the landlord, NewQuest Properties, while Jack Burgher of Streetwise Retail Advisors represented the tenant. In the second transaction, PostNet TX 223 leased 2,095 square feet of retail space at Tomball Parkway Plaza in Tomball. Brad Elmore and Austen Baldridge of NewQuest Properties represented the landlord, Tomball Plaza LLC, while Caroline Howell of NewQuest and Josh Evans of Newmark Grubb Knight Frank represented the tenant.
SPRINGFIELD, MO. — Mid-America Real Estate Corp. has brokered the sale of Morris Corners in Springfield in southwestern Missouri. The sales price was not disclosed. The 56,033-square-foot retail center is located at the corner of Battlefield Road and Fremont Avenue. Tenants include Toys “R” Us and Massage Envy. Carly Gallagher and Ben Wineman of Mid-America represented the seller, Ohio-based DDR. A private buyer purchased the property.