LAKE ZURICH AND HOFFMAN ESTATES, ILL. — Cross Kick’s Fitness has signed two new leases for fitness facilities in Lake Zurich and Hoffman Estates. The company is opening a 2,500-square-foot location at 479 S. Rand Road within Village Square Retail Center in Lake Zurich, and a 2,000-square-foot location at 2567 Golf Road within Hoffman Village Shopping Center in Hoffman Estates. The fitness facility in Lake Zurich is slated to open later this month while the facility in Hoffman Estates will open later this fall. Cross Kick’s Fitness offers a 40-minute power workout, which includes circuit training, boxing, weight lighting and aerobics led by a certified personal trainer. Linda Kost and Dave Schmidt of RealtyMetrix LLC represented Cross Kick’s Fitness in the lease transactions.
CHESTERFIELD AND ST. LOUIS, MO. — Gershman Commercial Real Estate has arranged two leases, totaling 7,364 square feet in Missouri. In the first deal, The Vandiver Group Inc. leased 3,864 square feet of office space within the Herman Stemme II Office Building located at 16052 Swingley Ridge Road in Chesterfield. The landlord is Chesterfield Stemme II Inc. Marcia Finch of Gershman Commercial represented the tenant in the lease. In the second deal, PPM Enterprises LLC, doing business as STL One Price Cleaners, inked a lease for 3,500 square feet of retail space within The Adler Lofts at 2035 Washington Ave. in St. Louis. Stephen Symsack and Roger Zigler of Gershman Commercial represented the landlord, Adler Lofts Master Landlord LLC, while Hilliker Corp. and Xsite Real Estate Inc. represented the tenant in the transaction. Additional terms of the transactions were not released.
CEDARHURST, N.Y. — Cedarhurst-based Paradigm Commercial Real Estate LLC has secured $47 million in refinancing for a package of 25 retail buildings located throughout the Bronx and Westchester counties. The properties are occupied by mom-and-pop shops, most of which have short-term leases. Michael Edery of Paradigm Commercial arranged the fully non-recourse loan, which features a 70 percent loan-to-value, for the borrower, a private family office. Proceeds of the loan will be used to expand the borrower’s portfolio, which currently includes 100 properties.
SHREWSBURY, MASS. — CS Holdings LLC has acquired an office/retail building located at 307 Grafton St. in Shrewsbury. Kalamat LLC sold the property for $2.4 million. Constructed in 2005, the two-story property is fully occupied by Café Noir, Salon Sogno, Piel Skin Boutique and Modern Dentistry of Shrewsbury. David Cohen and William Kelleher IV of Kelleher & Sadowsky Associates represented the seller in the transaction.
COCKEYSVILLE, MD. — Marcus & Millichap has brokered the $19 million sale of Church Lane Shopping Center and GJK Plaza, two shopping centers in Baltimore County’s Cockeysville suburb totaling 97,308 square feet. Built in 1981, the shopping centers are located at the corner of Church Lane and Cranbrook and York roads. The tenants include Party City, JoAnn Fabrics, Tuesday Morning, Sleepy’s and Meineke. Chris Burnham and Nathan Pealer of Marcus & Millichap represented the seller, a family partnership that had owned the centers for more than 35 years. Burnham and Pealer also procured the buyer, a private local investor.
CEDAR HILL, TEXAS — Trademark Property Co. has begun its multi-million dollar renovation of Hillside Village shopping center, formerly known as Uptown Village at Cedar Hill. The first phase of renovations will include updated signs at property entrances, a new children’s play area, a new promenade section with a bocce ball court, a covered stage area, enhanced landscaping and lighting and additional shaded seating around the village green. Completion of the first phase is scheduled for this fall. Hillside Village is currently home to 350,000 square feet of retail and restaurants, with tenants including Barnes & Noble, Dillard’s, Dick’s Sporting Goods, Charlotte Russe, Charming Charlie, Buckle, Papaya and Victoria’s Secret.
HOUSTON — Baker Katz has arranged a 1,200-square-foot lease on behalf of Scout & Molly’s boutique in the Plaza in the Park shopping center in Houston. The shopping center is located at the intersection of Buffalo Speedway and Westpark Drive. The boutique features upscale women’s clothing and offers original, rustic chic designs. The store’s opening is slated for January 2016. Founded in 2002 by Lisa Kornstein, Scout & Molly’s has grown to more than 10 locations in the United States. Baker Katz broker Lunden McGill represented Scout & Molly’s in the lease transaction. Edens’ Bruce Wallace represented the landlord.
NEW YORK CITY — Schur Management Cos. has broken ground on a $42 million mixed-use development located at 2030 Creston Ave. in the Mount Hope neighborhood of the Bronx. Creston Apartments will feature 110,761 square feet of above-grade buildable square footage, including 114 apartments, 11,234 square feet of ground-floor retail space, 908 square feet of community facility space and 10,657 square feet of underground parking for 40 cars. The residential mix will include seven studio apartments, 49 one-bedroom apartments, 46 two-bedroom apartments and 12 three-bedroom apartments. On-site amenities will include a study center with desks and computers, a fully equipped laundry room and an outdoor landscaped recreation area. Funding for the project is coming from the NYC Housing Development Corp., NYC Department of Housing Preservation and Development, Bronx Borough President’s Office, Capital One bank and the Hudson Housing Corp. The project team includes MacQuesten Cos. as general contractor, Aufgang Architects as architect, and Best Development Group as consultant to the developer. The target date for completion is September 2017.
WEST NEW YORK, PATERSON, LITTLE FERRY AND WEST ORANGE, N.J. — The Goldstein Group has negotiated leases for four new 7-Eleven locations in New Jersey. In West New York, 7-Eleven signed a lease for 2,800 square feet of space on Park Avenue. Lew Finkelstein and Matthew Flath of The Goldstein Group represented the tenant and the landlord, Arnone Family, in the transaction. In Paterson, the company inked a deal for 2,750 square feet of space on Main Street. Finkelstein and Flath represented 7-Eleven and the landlord, ACHS Management, in the deal. In Little Ferry, 7-Eleven signed a lease for a 3,000-square-foot space on Route 46. Finkelstein and CJ Huter of The Goldstein Group represented the tenant and the landlord, 200 Route 46 West LLC, in the transaction. In the final deal, 7-Eleven opened a 2,700-square-foot store on Valley Road in West Orange. Finkelstein and Flath represented the tenant and the landlord, HRG Shaw LLC, in the transaction.
INDIANAPOLIS, GREENWOOD AND CARMEL, IND. — The Boulder Group has brokered the sale of a single-tenant, net-leased Jiffy Lube portfolio consisting of seven properties in metro Indianapolis. A high-net-worth foreign investor acquired the portfolio for $6.6 million from a Midwest-based private partnership. The properties are 8175 Allisonville Road, 7765 US 31 South, 5444 W. 38th St., 7220 W. 10th St. and 7969 Pendleton Pike in Indianapolis; 1495 Keystone Way in Carmel; and 532 N. State Road 135 in Greenwood. All of the Jiffy Lube leases have more than seven years remaining and expire in November 2022. The leases, which are absolute triple net, also feature three five-year renewal options with rental escalations in each. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction.