NEW YORK CITY — Ariel Property Advisors has arranged the sale of a retail strip center located at 1943-1955 Westchester Ave. in the Parkchester section of the Bronx. A private investor purchased the property from Vanbarton Group for $7.8 million, or $861 per square foot. At the time of sale, the 9,000-square-foot property was fully occupied by commercial tenants, including H&R Block, GNC, Petland and a furniture store. The property is zoned for R6/C1-2, which allows for an additional 21,009 square feet of air rights. Victor Sozio, Shimon Shkury, Jason Gold, Scot Hirschfield and Marko Agbaba of Ariel Property Advisors represented the seller and procured the buyer.
EDEN PRAIRIE, MINN. — Mid-America Real Estate – Minnesota has arranged a new 10,319-square-foot lease for Crave, an American kitchen and sushi bar restaurant, in Eden Prairie, approximately 20 miles southwest of Minneapolis. Crave will take over a space at Eden Prairie Center that was formerly occupied by Biaggi’s Ristorante Italiano. The 1.3 million-square-foot shopping center includes retailers such as Von Maur, Target, Kohl’s, Sears and JC Penney. The restaurant is slated to open in November. Tricia Pitchford, Jesseka Doherty and Robert Wise represented the landlord, CAPREF Eden Prairie LLC, in the transaction.
HANOVER, MD. — The Cordish Companies has unveiled plans for a $200 million expansion at Maryland Live! Casino in Hanover. The expansion will include a 17-story, flagship Live! Hotel tower; an event center; meeting spaces; new dining options; a Live! Retail store; approximately 1,000 additional parking spaces; and a day spa and fitness center. The hotel will offer 310 luxury guest rooms, 52 of which will be suites. The Grand Event Center will feature a 1,500-seat concert venue with a built-in performance stage. The development’s event center will also offer flexible pre-function and meeting space, an executive boardroom and banquet seating capable of hosting up to 800 guests. New dining options will include a 24-hour café, a gelato bar and a signature lobby bar with more than 50 seats. Contractors, project architects and designers tapped by The Cordish Cos. for the project include Klai Juba Wald Architects, McLaren Engineering Group, Laurence Lee Associates, Cleo Design Corp., Selbert Perkins, Corsi & Associates, Lynne Curry Spa Consulting, Giovanetti Schulman Assoc. and EDSA. Tutor Perini Corp. will be the project’s general contractor. The project is expected to create approximately 400 new jobs and 550 construction jobs for the region, according to the developers. …
ALHAMBRA, CALIF. — NAI Capital has arranged the sale of Fremont Plaza, a retail power center located at 2500-2588 W. Commonwealth Ave. in Alhambra. City of Alhambra Successor Agency sold the property to an CTF Development NV for $24.8 million. At the time of sale, the property was 100 percent leased to Toys R Us, Party City and PetSmart. The sale also includes two ground leases to El Pollo Loco and Taco Bell. Situated on 7.4 acres, the property consists of three parcels. Scott Martin of NAI Capital represented the seller in the deal.
LOS ANGELES — Square Mile Capital Management has originated a $30 million mezzanine loan for California Market Center in downtown Los Angeles. The borrower, an affiliate of Jamison Services, used the proceeds to refinance the existing debt on the property, provide capital to complete renovations of the ground-floor common areas and retail space, and fund leasing costs for recently signed and future tenants. The 1.8 million-square-foot mixed-use property features retail, office and showroom space. The property is currently 55 percent leased to a combination of fashion and showroom, creative office and retail tenants. The property features three interconnected 13-story buildings and includes a bank branch and 2,200 parking spaces in two garages.
DALLAS — The Dallas Cowboys and Legends Hospitality will open the Stadium Club at AT&T Stadium this fall. The 19,000-square-foot restaurant will be open daily for lunch and dinner, serving as a place for visitors to dine before or after touring the building. The Stadium Club will be located just inside the stadium’s main entrance next to the Cowboys Pro Shop, and will host up to 650 guests. The space will feature a seamless video wall surrounding each bar, a video wall behind the host stand and 20 flat-screen televisions. Game day dining memberships will be offered at the stadium, and will provide an exclusive, members only, all-inclusive dining experience to season ticket holders and suite holders during Dallas Cowboys home games.
MIAMI — Marcus & Millichap has arranged the $6.7 million sale of Gordon Food Service Marketplace, a 17,431-square-foot grocery store located at 5600 W. Flagler St. in Miami. The net-leased store has seven years remaining on its base term. Ronnie Issenberg, Gabriel Britti, Scott Sandelin and Al Palacios of Marcus & Millichap’s Miami office represented the seller in the transaction. The buyer was as undisclosed private investor based in South Florida.
TULLAHOMA, TENN. — NorthMarq Capital has arranged a $2 million loan for Jackson Circle Shopping Center, a 6,500-square-foot retail property located at 1603 N. Jackson St. in Tullahoma. Jackson Circle’s tenant roster includes Mattress Firm and AT&T. Randall Waddell of NorthMarq’s Louisville office arranged the seven-year, fixed-rate loan with a 25-year amortization schedule through a local community bank.
NEW YORK CITY — Citicore has arranged the sale of a two-building mixed-use portfolio in the Bronx. Steven Staz, a Bronx-based investor, acquired the 81,174-square-foot portfolio from Semper Fi Management 7 Corp. and Cavan Properties for $14.9 million. The portfolio consists of a seven-story, 67-unit apartment building with two commercial stores located at 340 E. 184th St. and a five-story, 34-unit apartment building with five retail units located at 899 E. 169th St. Timour Shafran, Gem Algan and Steven Benatar of Citicore represented the buyer and the seller in the deal.
CHICAGO — Novak Construction has finished work on a 30,000-square-foot Whole Foods Market at the City Hyde Park development. The store, located at 5118 S. Lake Park Ave., features a secret society theme and pays homage to the University of Chicago. The store features a dark blue and brass color scheme and other décor related to the university. The project also included installing a mechanical system and an underground parking garage. Jeanne Gang designed the City Hyde Park project.