YONKERS, N.Y. — Online furniture retailer Wayfair will open a 114,000-square-foot store in Yonkers, located north of New York City. The store will be situated within Ridge Hill, a 1.3 million-square-foot mixed-use development, and is scheduled to open in early 2027. Adam Schwegman and Morgan Liesenfelt of Jamestown, which owns Ridge Hill in a joint venture with Nuveen Real Estate and Taconic Partners, represented ownership in the lease negotiations.
PHOENIX — Marcus & Millichap has directed the sale of a retail property located at 3300 E. Union Hills Drive in Phoenix. An Arizona-based limited liability company sold the asset to an undisclosed buyer for $3.3 million. The buyer plans to hold the asset long term. Busy Bees Child Care occupies the property, which was built in 1990, on an absolute triple-net lease with 15 years remaining. Spencer Berkley, Chris Lind, Mark Ruble and Zack House of Marcus & Millichap’s Phoenix office represented the seller in the deal.
ORION TOWNSHIP, MICH. — Pita Way has leased space to open a 1,550-square-foot restaurant at the Shops at Baldwin Village in Orion Township, a far northern suburb of Detroit. The new retail development is located at the northwest corner of Baldwin and Morgan roads and is part of a proposed master plan that would include 215 condo units and 264 apartment units. Michael Murphy of Gerdom Realty & Investment represented the tenant. The landlord was undisclosed.
WEST PALM BEACH, FLA. — Four new tenants have signed leases to join Nora District, a $1 billion mixed-use project underway in downtown West Palm Beach. The new tenants include fine jewelry retailer LUCE; women’s fashion retailer Pompanos Boutique; group fitness gym studio SWEAT440; and eyewear brand Warby Parker, which will debut at Nora District this fall. The development team behind Nora District includes NDT Development, Place Projects and Wheelock Street Capital. The project’s first phase — which will be delivered this summer — totals more than 100,000 square feet of retail space and 55,000 square feet of creative office space. Additional confirmed tenants at the property include Loco Taqueria & Oyster Bar, H&H Bagels, Van Leeuwen Ice Cream, Juliana’s Pizza, IGK Hair Salon and Le Labo.
CHARLOTTE, N.C. — CenterSquare Investment Management has acquired Gold Hill Commerce Park, an 11,835-square-foot retail strip center located in Charlotte. Built in 2000, the center is situated roughly 11 miles from the Charlotte Douglas International Airport. The property was fully leased to tenants including Marco’s Pizza, UrgentVet, Select Physical Therapy and Allen Tate Realty at the time of sale. This transaction marks CenterSquare’s 20th acquisition in the Southeast. The seller and sales price were not disclosed.
IRONDEQUOIT, N.Y. — Local financial intermediary Largo Capital has arranged a $17.3 million bridge loan for Culver Ridge Plaza, a 291,000-square-foot shopping center located outside of Rochester in Irondequoit. The center is home to tenants such as Marshalls, Burlington and Five Below. Kevin Ross and Michelle Colosimo of Largo Capital arranged the loan through Bank of America. The borrower, an undisclosed global investment firm, will use the proceeds to refinance existing debt and fund capital improvements.
RICHMOND, VA. — Greysteel has negotiated the $9 million sale of Laburnum Park Shopping Center, a 61,060-square-foot retail center located at 4320, 4356 and 4396 S. Laburnum Ave. in Richmond. Oklahoma-based The Criterion Fund purchased the property from the seller, a private individual. Ben Wilson of Greysteel represented the seller in the transaction and procured the buyer. The seller received 10 competitive offers during marketing, according to Greysteel. Laburnum Park Shopping Center features two in-line retail buildings, a standalone retail pad and a bank pad.
COLUMBIA, S.C. — Marcus & Millichap has arranged the $7.1 million sale of two vacant retail buildings located on a 3.2-acre site at 3818 Devine St. in Columbia. The 38,816-square-foot property was home to a Piggly Wiggly for more than 40 years before the grocer closed in April. Harrison Creason and Andrew Margulies of Marcus & Millichap brokered the transaction between the seller, an out-of-state owner, and the buyer, locally based Cason Development Group.
VALLEJO, CALIF. — PSRS has arranged $4.5 million for the refinancing of two retail buildings within a shopping center in Vallejo. The asset offers 10 retail units, totaling 16,452 square feet, spread across two buildings. Thomas Rudinsky of PSRS secured a 60 percent loan-to-value loan with a three-year term and 25-year amortization with the option to fully amortize the deal with a rate reset option from the lender every three years. A correspondent life insurance company funded the loan.
JOLIET, ILL. — PENN Entertainment has unveiled plans to open the new land-based Hollywood Casino Joliet on Monday, Aug. 11. The casino in Illinois is scheduled to open nearly six months ahead of the company’s originally scheduled construction timeline. The entertainment facility will anchor Rock Run Collection, a mixed-use development from Cullinan Properties located adjacent to the I-80 and I-55 interchange. The casino will feature 1,000 slots and 43 live table games, including a baccarat room, retail ESPN BET sportsbook, 10,000-square-foot event center and 1,330 parking spaces. Hollywood Casino Joliet will also include several dining experiences. PENN has partnered with celebrity chef Giada De Laurentiis to debut Sorellina by Giada, which will offer 170 seats for dining and a contemporary bar with a comprehensive wine selection. PENN has also partnered with McClain Camarota Hospitality to bring prominent Chicago chefs and restaurants to the casino. Through this partnership, the property will feature the Boulevard Food & Drink Hall, a dining experience that will include Lucky Goat, Antique Taco, Pretty Cool Ice Cream and Five50 Pizza. PENN is expected to work with the Illinois Gaming Board on the transfer of operations from the existing Hollywood Casino Joliet, which is located on the …
