OXFORD, MICH. — Clean Hub Car Wash has purchased a 4,700-square-foot retail building at 153 S. Washington St. in Oxford, about 40 miles north of Detroit. Barry Landau of Dominion Real Estate Advisors LLC represented the seller, DJG Properties LLC. Jordan Jabbori of CMP Real Estate Group represented Clean Hub Car Wash, which currently operates out of Sterling Heights but has three new locations coming soon.
SAN DIEGO — A private exchange buyer and a single-tenant REIT have purchased The Shops at Palm Promenade, a newly constructed shopping center in San Diego, for a combined value of $41.5 million. El Warner, Caitlin Zirpolo, Charley Simpson, Jordan Gomez and Alyssa Mera of Colliers’ Orange County-based National Retail Capital Markets team represented the sellers, Citivest and Hutensky Capital Partners, in the transactions. The private exchange buyer acquired 765, 762, 764, 780 and 804 Dennery Road for a total of $25.8 million. Chick-fil-A, Starbucks Coffee, Jersey Mike’s Subs and The UPS Store are tenants at the 24,120-square-foot space. The single-tenant REIT purchased the 45,308-square-foot Burlington building at 760 Dennery Road for $15.7 million.
BEAVERTON, ORE. — San Francisco-based Gantry has secured $61 million in permanent, long-term financing for the Cedar Hills Crossing, a shopping center in Beaverton. The borrower is C.E. John Co. Blake Hering and Heather Kegler of Gantry arranged the 10-year loan, which one of the firm’s correspondent life company lenders provided. WinCo Foods, New Seasons, Ross Dress for Less, Office Depot and Best Buy are tenants at the 477,000-square-foot shopping center. Cedar Hills Crossing also features a variety of dining, banking, professional service and specialty retailers.
WASHINGTON, D.C. — Standard Real Estate Investments LP, a minority-owned national real estate investment and development firm with offices in Washington, D.C., and Los Angeles, has purchased the Senator Square and East River Park shopping centers in northeast Washington D.C. The centers span 13 acres and are entitled and programmed for a $650 million mixed-use redevelopment that will bring 1,500 residential units, including approximately 300 affordable housing units, and 120,000 square feet of retail space to D.C.’s Northeast Heights district. National Housing Trust is developing 110 of the project’s 300 affordable housing units in a standalone building. The Black Economic Development Fund, which is managed by affiliates of the Local Initiatives Support Corp., and Forbright Bank provided construction financing for the development. The site is located within walking distance of the Minnesota Avenue Metro Station and near a build-to-suit office project that Trammell Crow Co. is developing for the District of Columbia’s Department of General Services. The construction timeline for the development was not disclosed.
LUBBOCK, TEXAS — Northmarq has arranged a bridge loan of an undisclosed amount for the acquisition of 34th Street Retail, a 42,152-square-foot strip center in Lubbock. The property was originally constructed in 1960. David Mott of Northmarq arranged the fixed-rate loan on behalf of the sponsor, NetCo Investments LLC. The direct lender was not disclosed.
HOOKSETT, N.H. — Boston-based brokerage firm Atlantic Capital Partners has negotiated the $10.7 million sale of a 155,820-square-foot shopping center in Hooksett, a northern suburb of Manchester. A 94,500-square-foot space formerly occupied by Kmart anchors the center, and other tenants include Applebee’s, Dollar Tree and New Hampshire Liquor & Wine Outlet. Justin Smith, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the seller, RK Centers, and procured the buyer, Brady Sullivan Properties, in the transaction.
CRANSTON, R.I. — Topgolf will open a 68,000-square-foot venue at 100 Sockanosset Cross Road in Cranston. Locally based firm Carpionato Group owns the site and is leading the development of the multi-level facility, which will be the first in Rhode Island for the Dallas-based entertainment concept. Construction is underway and expected to be complete before the end of 2023. Carpionato is also working with Rhode Island Department of Transportation on infrastructural improvements associated with the project, such as the reconstruction of the eastern section of Route 37, which included a frontage road from Route 37 at Pontiac Avenue. Carpionato Group originally acquired the site in 1997.
ROCK HILL, MO. — Echelon Constructors is underway on the buildout of a new Foss Swim School at the Market at McKnight retail center in Rock Hill, a western suburb of St. Louis. Completion is slated for early 2023. The project involves the redevelopment of a 12,000-square-foot space that formerly housed Club Fitness. Foss offers weekly classes, swim camps, family swims and other events for children of all ages. The company operates 22 swim schools in Illinois, Iowa, Missouri, Minnesota, North Dakota and Wisconsin. Echelon has previously built two other locations for Foss, including the redevelopment of a former Ace Hardware store at Zumbehl Commons in St. Charles, Mo.
TOLEDO, OHIO — Gym concept F45 Training has signed a lease to open a 2,100-square-foot location at Talmadge Town Center South in Toledo. Tolson Enterprises owns the shopping center, which is situated near Franklin Park Mall. Michael Murphy, Tjader Gerdom and Haley Kelly of Gerdom Realty & Investment represented F45 Training, which maintains locations in nearly all 50 states. The “F” stands for functional, and the classes are 45 minutes each.
NASHVILLE, TENN. — The NFL’s Tennessee Titans and the Metropolitan Government of Nashville and Davidson County (Metro) have agreed to terms to bring a new $2.1 billion football stadium to Nashville’s East Bank district. The enclosed stadium will span 1.7 million square feet and will be situated near the Cumberland River to the east of the Titans’ current arena, Nissan Stadium. The site for the new stadium currently comprises surface parking lots. Once complete, the project will represent the largest building project in the Metro’s history and will attract marquee events such as the Super Bowl and CMA Fest country music festival, according to ESPN. “When my father brought this team to Tennessee 25 years ago, I don’t think he could have imagined a better home for our organization,” says Titans controlling owner Amy Adams Strunk. “The way the people of Tennessee have embraced this team as their own is truly something special, and I am thrilled that with this new agreement, we will cement our future here in Nashville for another generation.” Funding for the new stadium comprises four categories, with football-related sources (i.e. the Titans, the National Football League and personal seat license sales) representing the largest source …