Retail

100-Crosby-Street-Manhattan

NEW YORK CITY — Local owner-operator GFP Real Estate has received an $83 million loan for the refinancing of 100 Crosby Street, an office and retail building in Manhattan’s SoHo neighborhood. The six-story, 175,000-square-foot building was originally constructed in 1884 and was fully leased at the time of the loan closing. Office users include Runway Growth Capital, Little Spoon, Shine Capital and Empire Entertainment, while American Eagle and Canadian fashion retailer Aritzia anchor the building’s retail component. TD Bank and BNY (formerly Bank of New York Mellon) provided the loan, which was arranged by Paul Talbot of Newmark.

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297-E-Hospitality-Ln-San-Bernardino-CA

HESPERIA AND SAN BERNARDINO, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the sales of two newly constructed, single-tenant Quick Quack Car Wash properties in two separate transactions located in Hesperia and San Bernardino. Each 3,596-square-foot property operates on a 20-year absolute triple-net ground lease and sold for roughly $2.6 million. Bill Asher and Jeff Lefko of Hanley represented both sellers.

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CHICAGO — Greenstone Partners has arranged the $5.2 million sale of a portfolio of retail properties situated along North Milwaukee Avenue in Chicago’s Wicker Park neighborhood. The portfolio totals 9,470 square feet and includes one corner property at North Milwaukee Avenue and Honore, along with three spaces directly across the street. The assets are fully leased to tenants such as Crossroads Trading Co., 2nd STREET, Thursday Boot Co. and Saint Alfred. Danny Spitz and Brewster Hague of Greenstone represented the seller, a Chicago-based investment and development company, and procured the buyer, a New York-based investor.

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ST. JOHN, IND. — Krusinski Construction Co. has broken ground on a new two-story, 5,000-square-foot banking center for Wintrust Community Bank in St. John within northwest Indiana. The bank branch will provide retail, business and mortgage banking services with a drive-thru. For more than 30 years, Wintrust has served communities across Illinois, Indiana, Michigan, Wisconsin and Florida. Completion is slated for August. The project team includes Grund & Riesterer as architect, DVG Team Inc. as civil engineer, The Structural Shop as structural engineer and W.T. Engineering Inc. as mechanical, electrical and plumbing engineer.

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Miami Worldcenter

MIAMI — A joint venture comprising affiliates of the Falcone Group, ROK Acquisitions, Andre Mirmelli, The Davis Cos. and Jamestown has acquired a retail and entertainment district situated within Miami Worldcenter, a new $6 billion mixed-use destination in downtown Miami.  The seller was master development group Miami Worldcenter Associates, which is a partnership between Falcone Group, Nitin Motwani and CIM Group. The sales price was $210 million. Totaling 300,000 square feet of retail, dining and entertainment space with 100,000 square feet of parks and plazas, the acquired property will be operated by Falcone Group, along with ROK Acquisitions and Andrew Mirmelli. Davis Cos. and Jamestown will serve as limited partners.  Tenants within the retail district include a flagship Apple store, Sephora, lululemon, Ray-Ban, Lucid Motors, Free People, Savage X Fenty, Posman Books, HŸP Sneakers & Streetwear, Timeluxe, Openbank by Santander, SkinSpirit, Blo Blow Dry Bar and Club Studio. Food-and-beverage offerings include Maple & Ash, Eight Bar, Sixty Vines, Earls Kitchen + Bar, Sweet Paris Crêperie & Café, Serafina, Go Greek Yogurt and Starbucks Coffee. Entertainment venues include Lucky Strike Bowling and the Museum of Ice Cream. “By combining continuity of vision with additional institutional capital, strategic oversight and operational discipline, …

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NEW YORK CITY — Convene Hospitality Group will open a 26,000-square-foot immersive event venue at 120 E. 23rd St. in Manhattan’s Flatiron District. Known as The Aperture, the venue will feature one of New York City’s largest projection-mapping environments and will be housed across two floors of the building, which is owned by Williams Equities. A tentative opening date was not announced.

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KENNETT, MO. — Marcus & Millichap has brokered the $7 million sale of Bootheel Plaza, a 23-suite retail strip center in Kennett, located in the southeast corner of Missouri and four miles east of Arkansas. Built in 1973, the property totals 126,193 square feet and sits directly in front of a Walmart Supercenter. Anchor tenants include Tractor Supply, Bealls and Dollar Tree. Austin Sweet, Chris Garavaglia and Alex Perez of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors.

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ROSWELL, GA. — Cushman & Wakefield has brokered the $7.4 million sale of The Alstead Shops, an 11,200-square-foot retail center located at 2000 Holcomb Bridge Road in Roswell. The metro Atlanta property was delivered in 2024 and was fully leased at the time of sale to tenants including Wellstar Urgent Care, CityVet, Layne’s Chicken Fingers, The Great Greek Mediterranean Grill and The Human Bean. Margaret Jones and Lane Breedlove of Cushman & Wakefield represented the sellers, Mirabeland Investments and Concordia Properties in the transaction. The buyer was Manchester Capital Management.

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GRAPEVINE, TEXAS — Pottery Barn Outlet will open a 25,027-square-foot store in Grapevine, located in the northern-central part of the metroplex. The store will be situated within one of the anchor spaces at Grapevine Towne Center. Jennifer Chandler, Lynn Van Amburgh, Ben Terry and Avery Frisbie of Weitzman represented the undisclosed landlord in the lease negotiations. Katie Rambie of SHOP Cos. represented the retailer.

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NEW YORK CITY — United Hospital Fund has renewed its 22,083-square-foot office headquarters lease in Midtown Manhattan. The nonprofit organization is relocating from the 12th to seventh floor of 1411 Broadway. Josh Kuriloff, Matthias Li and Heather Thomas of Cushman & Wakefield represented the tenant in the lease negotiations. Paul Amrich, Neil King and Emily Chabrier of CBRE represented the landlord, La Caisse.

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