Retail

HFF Arranges $5.4M Sale of Suburban Philadelphia Self-Storage Property

by Amy Works December 4, 2015

CINNAMINSON, N.J. — HFF has brokered the sale of Riverline Self Storage, a self-storage facility located at 1714 Bannard St. in Cinnaminson, a suburb of Philadelphia. Saratoga Springs, N.Y.-based Prime Group purchased the 381-unit property for $5.4 million. The two-building property totals 63,539 rentable square feet, with the property’s 381 climate-controlled units totaling 36,586 rentable square feet and occupying portions of both two-story buildings. The remaining 26,953 square feet is occupied by a combination of office, retail and warehouse tenants. Richard Schontz and Barbara Guffey of HFF represented the seller, a local private investor, in the transaction.

December 4, 2015

New York Northeast Retail

Aquazzura to Open First U.S. Location in Manhattan

by Amy Works December 4, 2015

NEW YORK CITY — Aquazzura, a Florence, Italy-based shoe retailer, has leased 2,221 square feet of retail space at 935 Madison Ave. in Manhattan for its first U.S. location. Situated between 74th and 75th streets, the shoe retailer will occupy 1,144 square feet on the ground floor and 1,077 square feet on the lower level. The retail space features 17 feet of frontage on Madison Avenue, with the building’s original 1876 façade, as well as 18-foot ceilings on the ground floor and 10-foot ceilings on the lower level. Ariel Schuster, Jackie Totolo and Brandon Elias of RKF, along with Joel Isaacs and Joshua Lewin of Isaacs and Company represented the landlord, JZS Madison LLC, in the transaction. Marc Simon, also of Isaacs and Company, represented the tenant.

December 4, 2015

Arizona Retail Western

Kimco Realty Acquires Christown Spectrum Retail Center in Phoenix for $115.3 Million

by Nellie Day December 3, 2015

PHOENIX — Kimco Realty Corp. has acquired Christown Spectrum, an 850,000-square-foot destination power center located in Phoenix, for $115.3 million. The retail center is 94 percent occupied and anchored by Walmart Supercenter, Costco and SuperTarget. Other retailers include Walgreens, Ross Dress for Less, PetSmart, Dollar Tree, Bank of America, Famous Footwear, GNC, Bath & Body Works, Supercuts, Taco Bell, Carl’s Jr. and Wingstop Restaurant.

December 3, 2015

Mixed-Use Multifamily Retail Texas

Venture Completes 43-Acre Land Assemblage for Mixed-Use Development in Metro Dallas

by Haisten Willis December 3, 2015

EULESS, TEXAS — Venture Commercial Real Estate has completed an assemblage of 43 acres of land located at the northeast quadrant of Cheek-Sparger Road and Heritage Avenue west of State Highway 121 in Euless. The buyer, Tonti Properties, is expected to break ground in spring 2016 on Trinity Union, a 457-unit multifamily community. The project has a mixture of product types including a four-story wrap-style building with structured parking and separate townhome-style buildings with direct-access garages and private yards. Trinity Union will feature an urban design, and 19 acres of the site will be devoted to retail use. John Zikos, Ken Reimer, Christopher Gibbons and Cheryl Hill of Venture worked with Tonti to acquire three separate land tracts. In the most complex of the transactions, Venture represented the seller, a family that had owned a 25-acre tract for 54 years, while Wilson Stafford of Edge Realty Capital Markets represented Tonti Properties. In the other transactions, Venture and Edge co-represented Tonti Properties.

December 3, 2015

Retail Southeast Tennessee

GBT Realty to Develop $16M Retail Center in Metro Nashville

by John Nelson December 3, 2015

MURFREESBORO, TENN. — GBT Realty Corp. plans to develop The Shoppes of Northgate, a $16 million shopping center located along Memorial Boulevard in Murfreesboro. GBT Realty acquired the 13.1-acre site across from the Walmart Supercenter in November for $2.4 million. The new shopping center will feature a 30,000-square-foot Sprouts Farmers Market, as well as a PetSense, Liquor Barn and Newk’s Eatery. The new Sprouts store will be the fourth Sprouts that GBT Realty has developed this year. Construction on The Shoppes of Northgate is expected to begin this month, with store openings set for spring 2016. GBT Realty currently has $161 million of commercial space under development in the Nashville region.

December 3, 2015

Georgia Retail Southeast

SRS Brokers $16.4M Sale of Pleasant Hill Square Shopping Center in Metro Atlanta

by John Nelson December 3, 2015

DULUTH, GA. — SRS’ Southeast investment sales team has brokered the $16.4 million sale of Pleasant Hill Square, a 282,137-square-foot regional power center located in Duluth, an Atlanta suburb in Gwinnett County. Located at 2205 Pleasant Hill Road near the Satellite Boulevard intersection, the property is anchored by Toys “R” Us, Jo-Ann and Staples. Wells Fargo NA sold the shopping center to GW Real Estate of Georgia LLC. Kyle Stonis and Pierce Mayson of SRS, along with Tony Bartlett and Chip Sipple of Lincoln Property Co., represented Wells Fargo in the transaction. The buyer was self-represented.

December 3, 2015

Kentucky Restaurant Retail Southeast

Shake Shack to Open First Kentucky Location in Lexington

by John Nelson December 3, 2015

LEXINGTON, KY. — Shake Shack, a popular burger restaurant that began as a hot dog cart in New York City in 2001, plans to open its first Kentucky eatery in Lexington. The restaurant will join the tenant roster of The Summit at Fritz Farm, a mixed-use food hall development that will feature national retailers, chef-driven restaurant concepts, Class A office space, a boutique hotel and upscale apartment residences. The project is set to open in March 2017. The one-level, 3,000-square-foot Shake Shack will anchor The Green, a communal area of the development. Other retailers joining Shake Shack include Whole Foods Market, Kendra Scott, J. McLaughlin, Brooks Brothers, Pottery Barn, J. Alexander’s, Babalu Tacos & Tapas, Steel City Pops and Arhaus.

December 3, 2015

New York Northeast Retail

H&M to Open at Westfield World Trade Center in Lower Manhattan

by Amy Works December 3, 2015

NEW YORK CITY — H&M, a global fashion retailer, is opening its first location in Lower Manhattan. Situated within Westfield World Trade Center, the 25,000-square-foot store is slated to open in spring 2016. This location will be the first store in the United States to apply for LEED certification. The interior of the store will operate on renewable power sources, use less energy than a conventional office building, utilize LED lighting and Energy Star equipment and implement a recycling program throughout the store. The Westfield World Trade Center location is H&M’s 18th store in New York City.

December 3, 2015

Loans New York Northeast Retail

Houlihan-Parnes Realtors Secures $3.5M Loan for 10,000 SF Retail Building in Manhattan

by Amy Works December 3, 2015

NEW YORK CITY — Houlihan-Parnes Realtors has arranged a $3.5 million first mortgage loan for the refinancing of a 10,000-square-foot retail building located at 172-178 Dyckman St. within Manhattan’s Inwood district. The seven-year, non-recourse loan features a 3.75 percent fixed interest rate with interest-only payments for two years and a 30-year amortization schedule. Additionally, the undisclosed borrower has an option to extend the loan for an additional five years. Bryan Houlihan and Mike O’Neill of Houlihan-Parnes Realtors secured the loan for the borrower. Christie Houlihan of Zukerman Gore Brandeis & Crossman LLP provided legal counsel for the borrower.

December 3, 2015

Illinois Midwest Retail

Baum Realty Group Arranges $3.4M Sale of Net-Leased Retail Property Near Chicago

by Christina Cannon December 3, 2015

CICERO, ILL. — Baum Realty Group LLC has arranged the $3.4 million sale of a retail property net-leased to Planet Fitness in metro Chicago. The property is located at 2300 S. Cicero Ave. in Cicero, a western suburb of Chicago. The fitness center is situated on 1.3 acres and includes 110 parking spaces. The building was renovated in 2010. Planet Fitness still has more than 10 years remaining on its lease with rental increases every five years. Brad Teitelbaum and Patrick Forkin of Baum Realty represented the seller in the transaction, a private local investor. The buyer was a private West Coast investor.

December 3, 2015

Newer Posts

Older Posts