MIDDLETON, WIS. — The Kickback Bar, a bar and arcade with over 30 pinball and arcade games, is opening this Friday at Middleton Market Food Hall in the Wisconsin city of Middleton. Cardinal Capital Management Inc. owns the property. The Kickback offers rotating craft beer and seasonal craft cocktails. Food and additional games will be introduced in the coming weeks. Middleton Market continues to expand with food, retail and entertainment options.
RIVERSIDE AND SAN BERNARDINO, CALIF. — PSRS has arranged a $5 million loan for the refinancing of six non-contiguous retail properties, totaling 38,000 square feet in Riverside and San Bernardino counties. The portfolio loan enabled the undisclosed borrower to cash out and restructure high-interest-rate private financing. Michael Warner of PSRS secured the financing, which features five years of interest-only payments, a 30-year amortization and no prepayment penalties. A credit union is providing the capital.
GRANDVILLE, MICH. — Memphis-based developer Poag Development Group has acquired RiverTown Crossings, a 1.3 million-square-foot enclosed shopping mall located in Grandville, a suburb southwest of Grand Rapids. The two-story property featured 114 retailers at the time of sale, including Macy’s, Kohl’s, JCPenney, Celebration Cinemas and Dick’s Sporting Goods. The mall first opened in 1999. Although the seller was not disclosed, Brookfield Property Partners assumed ownership of the mall in 2018 as part of its $15 billion acquisition of giant shopping mall operator GGP Inc. The price was not disclosed. According to local news outlets including WGRD 97.9, a buyer — Jonathon Bryant —purchased a vacant former Younker’s space at the mall in 2022 for $2 million. In 2024, trampoline entertainment concept Soar N Bounce signed a 10-year lease to occupy a portion of the 75,000-square-foot space. Poag plans to “revitalize the mall through redevelopment” and will add new uses, as well as reposition “underutilized parking fields.” JLL will work with Poag to manage and lease the property. “This property has so much potential for redevelopment given its great location,” says Josh Poag, CEO of Poag Development Group. “We are energized about the opportunity to deploy our redevelopment expertise to reimagine the property.” …
CITY OF INDUSTRY, CALIF. — A joint venture between RCB Equities and Real Estate Development Associates (REDA) has received a $115 million loan for the acquisition of Puente Hills Mall in City of Industry. Located at 1600 S. Azusa Ave., the 56.4-acre Puente Hills Mall is a redevelopment opportunity. The buyers plan to work closely with the City of Industry to formulate a redevelopment plan for the property. Mark Wintner of JLL Capital Markets Debt Advisory obtained the non-recourse, three-year, floating-rate loan through Hankey Capital on behalf of the borrower.
WOODINVILLE, WASH. — MainStreet Property Group and HAL Real Estate have received $77 million in refinancing for The Schoolhouse District, a mixed-use asset in downtown Woodinville, a suburb of Seattle. Located at 17409 133rd Ave. NE, The Schoolhouse District consists of four separate buildings, including District Flats offering 254 one-, two- and three-bedroom apartments, and 44,800 square feet of retail space. Apartments offer keyless entry, a balcony or patio, wine storage, vaulted ceilings, oversized windows, open kitchens with premium appliances, in-unit laundry, AC ports and custom-built home office spaces. Amenities at District Flats include a 24-hour fitness center, work-from-home spaces, a grocery delivery room, private access to sporting events, a game room, cafeteria lounge, an enclosed dog park, controlled-access garage and electric vehicle charging stations. The retail section features a YMCA, beauty spa, dining options and Wine Walk Row tasting rooms. Seth Heikkila and Steve Petrie of JLL Capital Market’s Debt Advisory team secured the fixed-rate loan through AXA IM Alts., acting on behalf of its client, for the borrowers.
KATY, TEXAS — Poag Development Group has welcomed four new tenants to LaCenterra at Cinco Ranch, an open-air shopping center located in the western Houston suburb of Katy. Houston TX Hot Chicken leased 4,065 square feet and is now open for business. Fidelity Investments (8,000 square feet), The Salty Donut (1,329 square feet) and Chewy Vet Care (3,002 square feet) are all scheduled to open before the end of the year. JLL represented ownership in all four sets of lease negotiations.
SAN DIEGO — BH Properties has purchased Hazard Center, a mixed-use campus in San Diego’s Mission Valley submarket, for an undisclosed price. Adam Edwards, Justin Shepherd, Michael Kathrein and Bailey Bland of Eastdil Secured represented the undisclosed seller in the transaction. Situated on 14.5 acres, Hazard Center consists of a 15-story, 270,000-square-foot office tower that was completed in 1990 and a more than 135,000-square-foot retail component that was completed in 1989. The office tower is more than 77 percent leased to long-tenured tenants. Current retail tenants include Barnes & Noble, Orangetheory Fitness, BJ’s Brewhouse, Wood Ranch BBQ & Grill, Which Wich Superior Sandwiches and FedEx Office.
FAIR LAWN, N.J. — Locally based investment firm TFE Properties has acquired the 93,000-square-foot River Road Shopping Center in the Northern New Jersey community of Fair Lawn. The 6.3-acre center comprises an 18,825-square-foot single-tenant building occupied by Walgreens, an 18,900-square-foot multi-tenant building and a 54,000-square-foot building that was formerly occupied by grocer ShopRite. The new ownership plans to implement a value-add program to the multi-tenant and former grocery buildings. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Ryan Robertson of JLL represented the seller, Bon-Marc Realty Co., in the transaction and procured TFE Properties as the buyer.
WHITEWATER, WIS. — Marcus & Millichap has brokered the $3.6 million sale of Whitewater Plaza, a 24,211-square-foot retail strip center in Whitewater, about 50 miles southwest of Milwaukee. Located at 1139 W. Main St., the property is 94 percent occupied by tenants such as Jimmy Johns, Anytime Fitness, Cozumel Mexican Restaurant and Beijing Buffet. Dominic Sulo and Sam Malato of Marcus & Millichap represented the undisclosed seller. The buyer was also undisclosed. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.
ORANGE COUNTY, N.Y. — Largo Capital, a financial intermediary based in upstate New York, has arranged a $9.3 million permanent loan for a shopping center in Orange County. The site is located near the nexus of New York, New Jersey and Pennsylvania. Grocer Save a Lot anchors the unnamed center, which totals 97,740 square feet and was 85 percent leased at the time of the loan closing. Jack Phillips of Largo Capital originated the debt. The direct lender and borrower were not disclosed.