CHICAGO — Essex Realty Group Inc. has arranged the $2.6 million sale of 3301 N. Clark St. in Chicago. The seven-unit, mixed-use property is located in the heart of Chicago’s Lakeview neighborhood. Doug Imber and Kate Varde of Essex Realty Group represented the undisclosed seller. Jim Darrow and Jordan Gottlieb represented the undisclosed buyer.
Retail
MINNEAPOLIS — Mid-America Real Estate has arranged the lease of a 6,400-square-foot retail space in Minneapolis. Merchant, which will be the first restaurant by acclaimed Chef Gavin Kaysen, will occupy space at 211 N. 1st St. The new restaurant is expected to open in November 2014. Carrie Charleston of Mid-America represented Merchant in the transaction.
SCOTTSDALE, ARIZ. — Hayden Crossing, a 63,446-square-foot neighborhood retail center in Scottsdale, has sold to 919 Hillsdale LLC for $14 million. The center is located at 8015-8035 E. Indian School Road. Notable net lease tenants include Bashas’ and Walgreens. The seller, Hayden Crossing Shopping Center LLC, was represented by Ryan Schubert and Michael Hackett of Cassidy Turley’s Retail Capital Markets Group.
FRESNO, CALIF. — Mission Village, a 52,950-square-foot shopping center in Fresno, has sold to MCS Guardian Properties LLC for $8 million. The center is located at 335-393 E. Shaw Avenue, and 4965 and 4987 N. Fresno Street. It is anchored by a new 24-Hour CVS/pharmacy. The center was built in 1979. It is 83 percent occupied. MCS Guardian was represented by Greg Bethke of Manco Abbott. The seller, a private Orange County investment company, was represented by Eric P. Wohl of Hanley Investment Group Real Estate Advisors.
SAN FRANCISCO – A 1,800-square-foot retail building in San Francisco has sold to JSRE Acquisitions for $4.3 million. The building is located at 69 Maiden Lane. It is the smallest building in the city’s Union Square District. The space is occupied by Bistro 69 Café. It will be vacant this fall. JSRE was represented by Tim Maas, Tony Crossley and Frank Wheeler of Colliers International.
PALM DESERT, CALIF. – Flooring Innovationshas leased a 15,800-square-foot retail building in Palm Desert. The space is located on Highway 111 at Deep Canyon. The lease was valued at $2.7 million. Kathleen Howard of NAI Capital’s Palm Desert office represented both the tenant and the landlord, CVS Drugs, in this transaction.
ARLINGTON, TEXAS – Marcus & Millichap has arranged the sale of O’Reilly Auto Retail Strip, a 19,840-square-foot retail property in Arlington. Jason Vitorino with Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. An outside Texas broker represented the buyer, a 1031 exchange investor from the West Coast. The center was 93 percent occupied at the time of sale. O’Reilly Auto Retail Strip is located at 629 West Pioneer Pkwy. in Arlington, just off Matlock Road.
GADSDEN, ALA. — Jason Stinson of Commercial Realty Services of Alabama LLC has brokered the purchase of two retail buildings once occupied by Food World in Gadsden for an undisclosed price. The two assets are approximately 45,000 square feet each and are located in Eastside Plaza Shopping Center and Canterberry Station Shopping Center. Anniston, Ala.-based GB & MH Properties LLC purchased the Eastside Plaza asset, and Birmingham-based Beltline Canterberry LLC purchased the Canterberry Station asset. Beltline Canterberry is the majority owner of the remainder of Canterberry Station Shopping Center.
NEW YORK — RKF has arranged two new leases at the 50-story Grace Building in Midtown New York for renowned chef Gabriel Kreuther’s first solo restaurant and Bluestone Lane Coffee. Kreuther’s yet-to-be-named restaurant will be located at 1114 Avenue of the Americas, directly across from Bryant Park. The property will consists of 8,000 square feet on the ground floor and 7,000 square feet on the second floor. Glen Coben of architectural and interior design firm Glen & Co. will design the restaurant. Spencer Levy and Michael Yohai of RKF represented Gabriel Kreuther and the Teton Restaurant Group in the lease. Edward Hogan and Mark Kostic represented Brookfield internally. Bluestone Lane Coffee has taken a 600-square-foot café space on the plaza at the Grace Building. Jon Krieger of RKF represented Bluestone in the transaction. Edward Hogan represented Brookfield internally. The Grace Building is co-owned by Brookfield and The Swig Co.
NEW HAVEN, IND. — Cronheim Mortgage has arranged two permanent loans totaling $4.5 million for Big Lots-anchored centers in New Haven, Ind., and Bristol, Tenn. The 75 percent LTV cash-out refinances feature a 10-year term and a 30-year amortization schedule. Both centers are located in tertiary submarkets of fewer than 15,000 inhabitants. David Turley and Anna Westhoff of Cronheim Mortgage arranged the loans for the undisclosed borrower.