Thursday, June 26, 2025
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Retail

NortheastRetail

NORTHMARQ SECURES $25M LOAN FOR LONG ISLAND RETAIL CENTER

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MASSAPEQUA, N.Y. — NorthMarq Capital’s New York City office has arranged $25 million in permanent mortgage financing for Sunrise Promenade Associates. The loan is secured by Sunrise Promenade Shopping Center, a 165,939-square-foot retail property in Massapequa, a city located on the South Shore of Long Island. Ernest DesRochers, senior vice president and managing director, and Charles Cotsalas, senior director at NorthMarq, arranged the loan through Lincoln National Life Insurance. The 10-year loan includes a 25-year amortization schedule. The Sports Authority, Babies “R” Us, Barnes & Noble and Pier 1 Imports anchor the property.

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RestaurantSoutheast

SMASHBURGER TO OPEN 47 NEW RESTAURANTS IN SOUTHEAST

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DENVER — Smashburger, a Denver-based burger restaurant concept, is targeting several Southeast cities as sites for new restaurants. The company has partnered with Robert Marshall of Bamaberto LLC to open 23 new restaurants in Atlanta during the next several years. Marshall, formerly with McDonald’s, and his team will also purchase five existing Smashburger restaurants in Atlanta. Smashburger has also partnered with Ray Ruiz and Wellesley Bromfield of Two Spurs LLC to open 18 new locations in Orlando and Jacksonville, Fla. Ruiz and Bromfield were former franchisees of McDonald’s. Lastly, Smashburger has partnered with Steven Taylor, Chris Smith and Jay Kikel of CapQueen3 to open six restaurants in Charlotte, N.C. Taylor and Smith currently own a Smashburger in Columbia, S.C., and Kikel was a former operator of Five Guys Burgers & Fries franchises.

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NortheastRetail

NEW YORK CITY DEVELOPMENT SITE SELLS FOR $11.3M

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NEW YORK CITY — Marcus & Millichap has arranged the $11.3 million sale of an 86,560-square-foot development site in the Flushing neighborhood of Queens in New York City. The sales price equates to $130 per buildable square foot. Steven Siegel, Michael Kook and Michael Helpern, all in Marcus & Millichap’s Manhattan office, represented the seller, a private investor, and the buyer, a local partnership. The property is located on Avery Avenue in Flushing between College Point Boulevard and 131st Street. The site features 339 feet of frontage on Avery Avenue. The property is comprised of four lots currently occupied by one-story retail stores.

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NortheastRetail

AZARIAN LEASES 5,500 SF TO TWO TENANTS IN WOODLAND PARK

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WOODLAND PARK, N.J. — Azarian Realty Co. has leased 5,500 square feet at Lenox Plaza Shopping Center in Woodland Park to two tenants. Coco Chateau, which is a retailer of gowns and dresses, signed a 4,000-square-foot lease. The retailer operates two locations in the New Jersey area. Restaurant 46 Denville Grill has leased 1,500 square feet in Lenox Plaza. The restaurant serves hot dogs, burgers, fried chicken and more. The 50,000-square-foot Lenox Plaza Shopping Center is located at 1750 Route 46 W., about 13 miles north of Newark. Golfsmith, Party City, Pizza Hut and Sleepy’s anchor the property. The Azarian Group LLC and Azarian Realty Co. currently owns, manages and leases 20 properties totaling more than 1 million square feet throughout New Jersey and New York.

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RetailSoutheast

HFF ARRANGES $7M SALE OF PUBLIX PLAZA IN TIFTON, GA.

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TIFTON, GA. — HFF has arranged the sale of Publix Plaza, a 52,600-square-foot Publix-anchored shopping center in Tifton. Publix Super Markets Inc. purchased the property for approximately $7 million. Brad Peterson and Whitaker Leonhardt of HFF represented the seller, TMall Development LLC, an entity of Atlanta-based RCG Ventures, in the transaction. The property, which was built in 2012, was 98.1 percent occupied at the time of sale.

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MidwestRetail

M&M ARRANGES $7.6M SALE OF A 36,505 SF RETAIL PROPERTY

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MORTON GROVE, ILL. — Marcus & Millichap has arranged the $7.6 million sale of Lonore Plaza, a 36,505-square-foot retail property located in Morton Grove, about 15 miles northwest of Chicago. Austin Weisenbeck and Sean Sharko, investment specialists in Marcus & Millichap’s Oak Brook office, represented the buyer, an investment company, and the seller, a private investor. Lonore Plaza, located at 7132 Dempster St., was more than 91 percent occupied at the time of sale. Tenants include Bedding Experts, Drycleaning Factory, Subway and Betty’s Bistro.

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MidwestRetail

DSW SIGNS 18,852 SF LEASE AT EDEN PRAIRIE CENTER

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EDEN PRAIRE, MINN. — DSW Shoe Warehouse has signed a lease for 18,852 square feet at the Eden Prairie Center in suburban Minneapolis. The new DSW will be located at 8251 Flying Cloud Drive in Eden Prairie. DSW is planning a third quarter 2014 opening date.SRS Real Estate Partners' Minneapolis office represented the tenant, DSW Shoe Warehouse, in the transaction. CAPREF Eden Prairie Center LLC represented the landlord.

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MidwestRetail

AGREE REALTY BUYS TWO RETAIL ASSETS FOR $3.7M

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BERWYN, ILL. AND JOPLIN, MO — Agree Realty Corp. has acquired two assets net leased to The Goodyear Tire & Rubber Co. and Mattress Firm Inc. in Berwyn, Ill., and Joplin, Mo., for $3.7 million. Goodyear recently signed a 15-year lease and has operated the store in suburban Chicago for more than 50 years. The Mattress Firm store, located in Joplin, is a new build-to-suit store located on a corner outlot of a Target-anchored shopping center. The average lease term remaining for the two assets is more than 13 years.

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