Retail

Gantry Arranges $61M Loan for Cedar Hills Crossing Retail Center in Beaverton, Oregon

by Amy Works October 19, 2022

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.

October 19, 2022

Development District of Columbia Mixed-Use Multifamily Retail Southeast

Standard Real Estate Investments to Develop $650M Mixed-Use Project in D.C.

by John Nelson October 18, 2022

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.

October 18, 2022

Loans Northmarq Retail Texas

Northmarq Arranges Acquisition Loan for 42,152 SF Retail Strip Center in Lubbock

by Taylor Williams October 18, 2022

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.

October 18, 2022

Acquisitions New Hampshire Northeast Retail

Atlantic Capital Partners Negotiates $10.7M Sale of Shopping Center in Hooksett, New Hampshire

by Taylor Williams October 18, 2022

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.

October 18, 2022

Development Northeast Retail Rhode Island

Topgolf to Open 68,000 SF Entertainment Venue in Cranston, Rhode Island

by Taylor Williams October 18, 2022

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.

October 18, 2022

Development Midwest Missouri Retail

Echelon Constructors Underway on Foss Swim School Buildout in Rock Hill, Missouri

by Kristin Harlow October 18, 2022

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.

October 18, 2022

Leasing Activity Midwest Ohio Retail

F45 Training to Open 2,100 SF Location in Toledo, Ohio

by Kristin Harlow October 18, 2022

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.

October 18, 2022

Civic Development Retail Southeast Tennessee Top Stories

Tennessee Titans, Local Government Agree to Terms for New $2.1B Enclosed Stadium in Nashville

by John Nelson October 18, 2022

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 …

October 18, 2022

Acquisitions Georgia Retail Southeast

Big V, Equity Street Capital Acquire 193,039 SF Retail Center in Brunswick, Georgia

by John Nelson October 17, 2022

BRUNSWICK, GA. — Big V Property Group, in partnership with Equity Street Capital, has acquired Glynn Isles, a 193,039-square-foot retail center located in the coastal Georgia city of Brunswick. Shadow-anchored by Target and Lowe’s Home Improvement, the center has averaged 98 percent occupancy. Tenants include Dick’s Sporting Goods, PetSmart, Ross Dress for Less, Michaels, Ulta Beauty and Old Navy. The seller and sales price were not disclosed.

October 17, 2022

Development Georgia Leasing Activity Mixed-Use Retail Southeast

Third & Urban, FCP to Add Four New Concepts to Westside Paper Project in Atlanta

by John Nelson October 17, 2022

ATLANTA — Third & Urban and FCP have announced the addition of four tenants to the 15-acre Westside Paper development located along the Atlanta BeltLine in Westside Atlanta. Currently under development and scheduled to open in early 2023, Westside Paper, which is centered around a historic 1950s paper warehouse, features 245,000 square feet of mixed-use space. King of Pops, Elsewhere Brewing, Ancestral Bottle Shop + Market and taqueria concept El Santo Gallo will join the retail lineup. Westside Paper’s retail space is now 90 percent leased, with previously announced tenants including Pancake Social, Glide Pizza, Girl Driver and Boxcar Betty’s.

October 17, 2022

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