Retail

Grandbridge Provides Two Acquisition Loans Totaling $20M for Metro Atlanta Retail Assets

by Alex Tostado April 22, 2019

DULUTH AND FAYETTEVILLE, GA. — Charlotte-based Grandbridge Real Estate Capital has provided a pair of acquisition loans totaling approximately $20 million for two retail assets in metro Atlanta. In the first deal, the company provided a $9.8 million loan for Reynolds Crossing, a 148,809-square-foot center located in the northeastern Atlanta suburb of Duluth. That loan carried a seven-year term, fixed interest rate and a 25-year amortization schedule. In the second transaction, Grandbridge closed a $10.2 million loan for Togwotee Village, a 109,680-square-foot center in Fayetteville, located about 22 miles south of Atlanta. That loan was structured with a 10-year term and a 25-year amortization schedule. Alan Tapie of Grandbridge closed the loans on behalf of the undisclosed borrower.

April 22, 2019

Leasing Activity Retail Southeast Tennessee

Local Brewery, Coffee Shop to Join Sylvan Supply Project in Nashville

by Alex Tostado April 22, 2019

NASHVILLE, TENN. — Bearded Iris Brewery and Barista Parlor, both local to Nashville, have signed leases to join the tenant lineup at Sylvan Supply in Nashville. Atlanta-based Third & Urban and Chevy Chase, Md.-based FCP are renovating the 96-year-old mill on Charlotte Avenue into a six-building, 130,700-square-foot mixed-use development that will feature office space, outdoor areas and 32,850 square feet of retail and dining space. Bearded Iris Brewery, named for Tennessee’s state flower, will brew experiential batches exclusive to the location, as well as its full portfolio of beer. Barista Parlor will offer coffee and breakfast. Sylvan Supply is expected to open this year and both Iris Bearded Brewery and Barista Parlor are expected to move in early next year. Elliott Kyle of Equitable Property Co. represented the developers in the lease transactions.

April 22, 2019

Leasing Activity New York Northeast Retail

Goldfish Swim School Signs 9,660 SF Retail Lease in Queens

by Taylor Williams April 22, 2019

NEW YORK CITY — Goldfish Swim School, which operates more than 80 swimming schools for children around the country, has signed a 10-year, 9,660-square-foot lease at Glen Oaks Shopping Center in Queens. The center, which is owned by local firm The Feil Organization, spans 187,650 square feet. Burlington Coat Factory and Key Food anchor the property, and other tenants include Walgreens and Subway. Goldfish Swim School includes party facilities, a snack bar and heated pools.

April 22, 2019

Development Retail Texas

Trademark Completes Renovation of 560,000 SF Shopping, Dining Destination in The Woodlands

by Taylor Williams April 22, 2019

THE WOODLANDS, TEXAS — Fort Worth-based Trademark Property Co. has completed the renovation of MARKET STREET — The Woodlands, a 560,000-square-foot shopping and dining destination located about 30 miles north of Houston. The eight-month project focused on the enhancement of common area spaces, including restaurant patios, pedestrian pathways and public restrooms. Landscaping upgrades were also implemented at the open-air property, which originally opened in 2004 and now includes hotel and office uses.

April 22, 2019

Development Retail Texas

CSW Development, USAA to Build Retail Center in San Antonio

by Taylor Williams April 22, 2019

SAN ANTONIO — A partnership between Austin-based CSW Development and San Antonio-based USAA Real Estate will hold a groundbreaking ceremony for La Cantera Heights, a new retail center in northwest San Antonio, on Wednesday, May 1. Construction of the first phase will begin immediately after the event. The current tenant roster, which will include restaurant, fitness and boutique retailers, will be announced at the ceremony. Alamo Architects is designing the project; Metropolitan Construction is serving as the general contractor, and JLL is handling leasing.

April 22, 2019

Acquisitions Florida Retail Southeast

Highline, M Street Holdings Purchase Shopping Center in Orlando for $12.3M

by Alex Tostado April 19, 2019

ORLANDO, FLA. — A partnership between Highline Real Estate Capital and M Street Holdings has acquired Century Plaza, a 132,725-square-foot retail center in Orlando, for $12.3 million. The center was fully leased at the time of the sale to tenants including ALDI, Ross Dress for Less, dd’s DISCOUNTS, Big Lots, Shoe Land, Spectrum, Sprint, GameStop and Amscot. The asset was built in 1973, renovated in 2008 and sits on 13.5 acres. Anthony Blanco of TSCG (formerly The Shopping Center Group) represented the seller, a private global institutional investment firm, in the transaction.

April 19, 2019

Acquisitions Massachusetts Northeast Retail

Linear Retail Acquires Two Buildings in Wellesley, Massachusetts for $17.6M

by Taylor Williams April 19, 2019

WELLESLEY, MASS. — Burlington, Mass.-based Linear Retail Properties LLC has acquired two buildings totaling 17,900 square feet in downtown Wellesley, a western suburb of Boston. The sale, which included the adjoining 60-space parking lot, closed at a price of $17.6 million. Tenants at the buildings include CVS Pharmacy, Coldwell Banker Residential Brokerage, J.P. Licks and Vision Optics. The seller was a private family trust.

April 19, 2019

Leasing Activity New York Northeast Retail

Foot Locker to Open 25,000 SF Store in Manhattan’s Washington Heights

by Taylor Williams April 19, 2019

NEW YORK CITY — Foot Locker will open a 25,000-square-foot store at 605 W. 181st St. in Manhattan’s Washington Heights neighborhood. The locally based athletic footwear retailer will treat this location as a “power store” that offers experiential activities like creating customized sneakers and gaming zones. The store is slated to open this fall. New York-based Marx Realty owns the property in which the store will be housed.

April 19, 2019

California Development Loans Mixed-Use Multifamily Retail Western

HFF Arranges Joint Venture Equity for $320M Residential Development in San Francisco

by Amy Works April 19, 2019

SAN FRANCISCO — HFF has secured joint venture equity for the development of 1629 Market Street, a fully entitled multifamily project in San Francisco. Working on behalf of the developer, Strada Investment Group, HFF arranged a joint venture equity partnership with an affiliate of Stockbridge Capital Group for the $320 million project. 1629 Market Street will feature 420 apartments, averaging 732 square feet, and nearly 9,000 square feet of retail space situated within three mid-rise buildings that will share a sub-grade parking garage. Situated on 1.7 acres at the intersection of Van Ness Avenue and Market Street in San Francisco’s Mid-Market technology hub, the project is slated for completion in mid-2021. Scott Bales, Charles Halladay, Jordan Angel, Peter Yorck, Eric Bet and Nolan Moore of HFF represented the developer in the equity placement transaction.

April 19, 2019

Acquisitions Midwest Restaurant Retail Wisconsin

Barry Co. Arranges Land Sale for Future Culver’s Restaurant in Kenosha, Wisconsin

by Kristin Harlow April 19, 2019

KENOSHA, WIS. — The Barry Company has arranged the sale of a lot that spans about three-quarters of an acre in Kenosha. The buyer, S&L Properties Kenosha 142 LLC, plans to construct a Culver’s restaurant on the site. The lot is located at the intersection of Highway 142 and I-94 and is adjacent to Amazon’s 1.5 million-square-foot distribution campus. Kevin Barry of Barry Co. represented the undisclosed seller. Tom Treder of Founders 3 Real Estate Services represented the buyer. Culver’s is known for its burgers and frozen custards.

April 19, 2019

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