Retail

Parrot Properties, Block & Co. Receive Approval for $225M Village at View High Development in Lee’s Summit, Missouri

by Amy Works October 3, 2016

LEE’S SUMMIT, MO. — Parrot Properties, in partnership with Block & Co., has received approval for its $225 million Village at View High development in Lee’s Summit from the city’s planning commission. The mixed-use project will feature multifamily space, 250,000 square feet of retail space and more than 100,000 square feet of office and medical space, as well as a proposed senior living facility. To be developed in three phrases, the project will feature 23 acres of land for 300 luxury apartments, 13 acres for a gated-community of senior living villas, townhomes and apartments, and 35 acres for retail, restaurant and office development. The project team includes Engineering Solutions, TransSystems, Hirst and Associates Architects, Bushyhead, and Humphrey, Farrington & McClain PC.

October 3, 2016

Indiana Midwest Retail

Quantum Real Estate Advisors Negotiates $3M Sale of Multi-Tenant Retail Property in Portage, Indiana

by Amy Works October 3, 2016

PORTAGE, IND. — Quantum Real Estate Advisors has arranged the sale of a newly constructed, multi-tenant retail building located at 6030-6036 U.S. Highway 6 in Portage. A Chicago-based developer sold the property to a private real estate investor for $3 million. At the time of sale, the 5,934-square-foot property was fully leased to Starbucks Coffee, Domino’s Pizza and Five Guys. Chad Firsel of Quantum Real Estate Advisors represented the seller in the deal.

October 3, 2016

Michigan Midwest Retail

NAI Wisinski West Michigan Arranges Sale of 2.5-Acre Site in South Haven, Michigan

by Amy Works October 3, 2016

SOUTH HAVEN, MICH. — NAI Wisinski West Michigan brokered the sale of a 2.5-acre site located at 72133 Phoenix St. in South Haven. Honor Credit Union acquired the site for an undisclosed price and plans to relocate from its current location at 749 Phillips St. to the property. Slated for completion in 2017, the new property will feature drive-thru lanes, a drive-up ATM and a night drop. Dane Davis of NAI Wisinski represented the seller, Locker & Locker Properties, while Doug Clark of The Case Group represented the buyer in the transaction.

October 3, 2016

Healthcare Mixed-Use New Jersey Northeast Office Retail

Prism Capital Completes Acquisition of 116-Acre Former Hoffmann-La Roche Campus in New Jersey

by Amy Works October 3, 2016

NUTLEY AND CLIFTON, N.J. — PB Nutclif I, an affiliate of Prism Capital Partners, has completed its previously announced purchase of the 116-acre former Hoffmann-La Roche Inc. North American headquarters campus in Nutley and Clifton. The company plans to reposition the campus as a mixed-use development anchored by a medical school. In July, Hackensack Meridian Heath and Seton Hall University committed to leasing two buildings and 16 acres at the property. Seton Hall and Hackensack Meridian will immediately start improvements to convert the leased buildings to accommodate the needs of the new Seton Hall-Hackensack Meridian School of Medicine. Seton Hall will co-locate its College of Nursing and School of Health and Medical Sciences at the site, and Hackensack Meridian plans to create a National Health Institute-designated Clinical Research Center on the campus.

October 3, 2016

Loans New York Northeast Retail

Berkadia Secures $31.5M in Financing for Retail Property in Harlem

by Amy Works October 3, 2016

NEW YORK CITY — Berkadia has secured $31.5 million in financing for The Retail Condominium at The Renaissance, a retail and garage property located at 130 Lenox Ave. in Harlem. Stewart Campbell of Berkadia arranged the loan for the undisclosed borrower through Jeffries LoanCore LLC. The 10-year refinancing loan features a 4.13 percent fixed interest rate and is interest-only throughout the term.

October 3, 2016

Mississippi Retail Southeast

NAI UCR Brokers $3.6M Sale of Shopping Center in Mississippi

by John Nelson October 3, 2016

VICKSBURG, MISS. — NAI UCR Properties has brokered the $3.6 million sale of a 43,000-square-foot portion of the Pemberton Plaza Shopping Center in Vicksburg, roughly 45 miles west of Jackson. The buyer, an unnamed local investment group, added to the 27,000-square-foot portion of the center it already owned. Pemberton Plaza’s tenant roster includes T.J. Maxx, Citi Trends, Petsense, Newk’s Eatery, Bestway Rent to Own, Anytime Fitness and Little Caesar’s. The portion of the shopping center that was acquired was 100 percent leased at the time of sale. The buyer purchased the asset from RockStep Capital in an off-market transaction. Micah McCullough and Brett Bailey of Jackson-based NAI UCR Properties represented the buyer in the transaction. RockStep Capital was self-represented.

October 3, 2016

Midwest Missouri Nebraska Retail Top Stories

Bass Pro Shops to Acquire Cabela’s Inc. in a $5.5B Deal

by Nellie Day October 3, 2016

SPRINGFIELD, MO. AND SIDNEY, NEB. — Bass Pro Shops has agreed to acquire Cabela’s Inc. (NYSE: CAB) for $5.5 billion, or $65.50 per share of CAB stock. The merger brings together three of the nation’s top outdoor sporting brands: Cabela’s, which specializes in hunting; Bass Pro Shops, which specializes in fishing; and White River Marine Group, a Bass Pro Shops company that specializes in boating. The combined company will own 184 stores in the U.S. and Canada. Cabela’s Board of Directors unanimously approved the acquisition, which is expected to close in the first half of 2017. It was not immediately clear whether the deal would result in any store closures. Bass Pro Shops will also enter into a multi-year partnership agreement with Capital One, National Association, which will originate and service Cabela’s CLUB, the retailer’s co-branded credit card. The customer rewards systems for both retailers should be unaffected by the acquisition. The transaction will be completed through a cash merger and is subject to approval by Cabela’s shareholders, as well as regulatory approvals and other customary closing conditions. The Merchant Banking Division of Goldman Sachs and Pamplona provided partial acquisition financing for the deal. Goldman Sachs has committed $1.8 billion, …

October 3, 2016

Illinois Midwest Retail

Leopardo Cos. Completes 265,000 SF Retail Development in Chicago

by Amy Works September 30, 2016

CHICAGO — Leopardo Cos. has completed the construction of a 265,000-square-foot retail development located at 3030 N. Broadway in Chicago’s Lakeview neighborhood. A 71,000-square-foot Mariano’s Fresh Market anchors the five-story center. Additional tenants include XSport Fitness, Starbucks Coffee and PNC Bank. The center also features two levels of parking with 266 stalls and multiple sustainable features. The development team included Gene Porto, Timothy Barrett and Seymour Taxman and the architect was Antunovich Associates.

September 30, 2016

Michigan Midwest Office Retail

Midwest Realty Group Brokers Two Leases Totaling 6,049 SF in Michigan

by Amy Works September 30, 2016

ALPINE TOWNSHIP AND PORTAGE, MICH. — Midwest Realty Group has arranged two leases totaling 6,049 square feet of retail space in Alpine Township and Portage. In the first deal, Great Lakes Outpost LLC leased 3,862 square feet of retail space at 4147 Alpine Ave. in Alpine Township. This location will be the online retailer’s first brick-and-mortar store. Midwest Realty Group represented the tenant and landlord, Alpine Valley LLC in the transaction. In the second deal, Reverse Mortgage Funding LLC leased 2,187 square feet of office space at 3275 Cooley Court in Portage. Midwest Realty Group represented the tenant and landlord, Cooley Park I LLC, in the transaction.

September 30, 2016

trademark-property-westside-ventures-katy

Hospitality Mixed-Use Multifamily Office Restaurant Retail Texas

Trademark to Develop 82-Acre Mixed-Use Project in Metro Houston

by Haisten Willis September 30, 2016

KATY, TEXAS — Trademark Property Co. has entered into an agreement with Westside Ventures to develop an 82-acre mixed-use development at the northwest corner of I-10 and Mason Road in Katy. Planning will continue in the coming months for the initial 60-acre phase, which will include retail, restaurant, residential, hotel and office space. The site, which is part of a larger 107-acre tract owned by Westside Ventures, will be developed in phases over several years. Phasing and a construction timeline will be scheduled following planning.

September 30, 2016

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