Retail

ELV Associates Sells Long Wharf in Boston to Capital Properties for $34M

by Amy Works May 22, 2015

BOSTON — ELV Associates has sold the Long Wharf, a two-building office and retail property in Boston, to Capital Properties for $34 million. Totaling 77,600 square feet, Long Wharf comprises the five-story Custom House Block and the adjacent four-story Gardiner Building. At the time of sale, the property was 98 percent occupied by a variety of tenants, including AECOM and Chart House restaurant. Robert Griffin, Edward Maher, Matt Pullen, Geoffrey Millerd and Justin Smith of Cushman & Wakefield represented the seller in the transaction.

May 22, 2015

Retail Texas

Sperry Van Ness/Visions Commercial Arranges Sale of Retail Center in Metro Dallas

by Haisten Willis May 21, 2015

FORNEY, TEXAS — Bloomfield Frontline Forney Commercial Retail LLC has purchased a retail center located at 104 and 108 E. U.S. Highway 80 in Forney. Bloomfield is a syndication partnership set up by managing partners and promoters Steve Fithian with Sperry Van Ness/Visions Commercial and Thomas Wilson with Wilson Investment Properties. Forney Group Ltd. sold the retail center to Bloomfield for an undisclosed price. Sean Byrne with the Byrne Co. represented the seller, while Fithian represented the buyer. Sperry Van Ness/Visions Commercial will manage the retail center, which is located on 3.5 acres on the westbound U.S. Highway 80 Frontage Road just before Pinson Road (FM 740.) Forney is a suburb 19 miles east of downtown Dallas. Phase I of the retail center was built in 2006 and Phase II was built in 2008. Current tenants include 20/20 Sight, Time Out Sports Café, Merle Norman Cosmetics, Peak Physical Therapy, Angels Care Home Health, My Spa, H&R Block, Conaway Homes and Forney Family Dentistry. According to the Forney Economic Development Corp., Forney is the 15th-fastest growing town in the DFW area and has experienced 225 percent population growth since 2000.

May 21, 2015

Mixed-Use Retail Texas

J. Beard Arranges Sale of Development Tract in Metro Houston

by Haisten Willis May 21, 2015

MAGNOLIA, TEXAS — The J. Beard Real Estate Co. has arranged the acquisition of an 11-acre development tract at the northeast corner of Research Forest Drive and Egypt Lane in Magnolia, a suburb of Houston. Egypt Land Developments purchased the land for mixed-use retail, medical and commercial development.

May 21, 2015

Midwest Retail Wisconsin

ALTUS Commercial Brokers 1,664 SF Lease in Madison, Wis.

by Amy Works May 21, 2015

MADISON, WIS. — ALTUS Commercial Real Estate Inc. has brokered the lease of 1,664 square feet to The Float Factor Inc. at 326 Junction Road in Madison. The Float Factor will open its new location in July. The Float Factor offers a nearly zero-gravity environment in float tanks of Epsom salt water, maintained at skin temperature, and far-infrared saunas, which help to promote healing by reducing stress, improving sleep and energy levels through relaxation and detoxification. Jeff Jansen of ALTUS Commercial represented the tenant in the transaction.

May 21, 2015

Colorado Retail Western

Good Times Burgers & Frozen Custard Completes Sale-Leaseback in Centennial

by Nellie Day May 21, 2015

CENTENNIAL, COLO. – Good Times Burgers & Frozen Custard has completed a sale-leaseback in Centennial. The restaurant is located at 14505 East Arapahoe Road. The asset was purchased by a local individual investor. The seller, Good Times Drive Thru, entered into a new long-term, triple-net lease at closing. Good Times was represented by Drew Isaac of Marcus & Millichap’s Denver office.

May 21, 2015

Mixed-Use Multifamily New Jersey Northeast Retail

HillTop Partners Breaks Ground for Mixed-Use Development in New Jersey

by Amy Works May 21, 2015

IRVINGTON, N.J. — HillTop Partners, a joint venture between Kapwood LLC and Urban Builders Collaborative, has broken ground for the development of The HillTop, a residential and mixed-use development in Irvington. The first phase of the project, slated for completion in late 2017, will include a five-story, 110,000-square-foot residential building comprising 115 market-rate and affordable housing rental units, while additional phases will comprise 700 mixed-use units and 15,000 square feet of commercial and retail space, as well as a preschool and restaurant space. Designed by Perkins Eastman, The HillTop is located on six acres formerly occupied by Irvington General Hospital, which shuttered nearly a decade ago. HillTop Partners acquired the site from the township in 2013.

May 21, 2015

Sansone-Towne-South-Plaza-Terre-Haute-IL

Indiana Midwest Retail

Sansone Group Purchases Shopping Center in Indiana for $18M

by Amy Works May 20, 2015

TERRE HAUTE, IND. — Sansone Group has acquired Towne South Plaza, a shopping center located on U.S. Highway 41 in Terre Haute. Creekstone Towne South Plaza LLC sold the 162,285-square-foot property for $18 million. Gander Mountain, Best Buy, PetSmart, Guitar Center and Five Below occupy the property. Sansone plans to eventually expand the center to 213,000 square feet.

May 20, 2015

Loans Michigan Midwest Retail

Bernard Financial Group Arranges $8.6M Loan for Michigan Retail Center

by Amy Works May 20, 2015

BLOOMFIELD HILLS, MICH. — Bernard Financial Group has arranged an $8.6 million loan for the refinancing of New Bloomfield Plaza in Bloomfield Hills. Located on Telegraph Road, the property offers 167,150 square feet of retail space. Kevin Kovachevich of Bernard Financial Group originated the loan for the borrower, New Blooomfield Plaza LLC. The lender was One America.

May 20, 2015

Illinois Midwest Retail

The Boulder Group Arranges Sale of Net-Leased Starbucks Property in Chicago

by Amy Works May 20, 2015

CHICAGO — The Boulder Group has completed the sale of a single-tenant Starbucks Coffee property, located at 7101 South Stony Island Ave. in Chicago. A Chicago-based private investor acquired the net-leased property for $1.4 million from a Midwest-based real estate development and investment firm. There are approximately 10 years remaining on the Starbucks lease, which expires in July 2024. The lease features an 8.3 percent rental escalation in the primary term and 7.5 percent in each renewal option period. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction.

May 20, 2015

Connecticut Northeast Retail

Ceruzzi Properties Sells Trolley Square in Connecticut for $22M

by Amy Works May 20, 2015

EAST HAVEN, CONN. — TS East Haven LLC, an entity controlled by Ceruzzi Properties, has sold Trolley Square, a retail center in East Haven, to a Manhattan-based private investor for $22 million, as part of a 1031 exchange. Located at the intersection of Hemingway Avenue and Main Street, the 107,921-square-foot shopping center is anchored by a Stop & Shop and fully leased to a variety of national and local tenants. Jeffrey Dunne, David Gavin, Chris Angelone and Nat Heald of CBRE represented the seller and procured the buyer in the transaction. Robert Von Ancken of Newmark Grubb Knight Frank advised the buyer and secured a second mortgage to complete the purchase on behalf of the buyer.

May 20, 2015

Newer Posts

Older Posts