PHILADELPHIA — Metro Commercial Real Estate has brokered leases for six small-format Target stores in Philadelphia. The company’s Steve Niggeman and Tom Londres represented Target in the following leases: Lincoln Square: Store opening in October 2018 at 1000 S. Broad St. Alterra Property Group and Kimco Realty Corp. will be the owners of the 36,000-square-foot location. Northern Liberties: Store opening in July 2018 at 456 N. 5th St. Alliance Partners HSP will own the 47,000-square-foot location. Ivy Ridge Shopping Center: Store opened in March at 7162 Ridge Ave. Brixmor Property Group owns the 47,000-square-foot location. 2100 Pennsylvania Ave.: Store opening in October. Range Properties will own the 32,000-square-foot location. 1122-28 Chestnut St.: Store opened in July 2016. Brickstone Co. owns the 19,000-square-foot location. 1900-06 Chestnut St.: Store opened in October 2016. Pearl Properties owns the 23,000-square-foot location.
NEW YORK CITY — Bestreich Realty Group has arranged the $11.4 million sale of a six-story mixed-use building in the Williamsburg neighborhood of Brooklyn. The property is located at 66 Graham Ave. and features 30 rent-stabilized apartments and six retail spaces including two clothing stores, a jewelry store, a 99-cent store, a barbershop and a newsstand. The 25,900-square-foot building was built in 1925. Bestreich Realty Group’s Luke Sproviero and Derek Bestreich represented both the buyer, local investor Morris Weinberg, and the seller, father and son clothing moguls Ruby and Victor Azrak, who had owned the building since 1986.
WHITEHALL, PA. — Derek Zerfass of Colliers International’s Allentown office represented BB&T in the $1.2 million sale of a 3,061-square-foot former bank branch building at 2545 Mickley Ave. in Whitehall. The building will be demolished to make way for a Wendy’s restaurant. Steve Clipman of ROCK Commercial Real Estate represented the buyer.
TEMPE, ARIZ. — Warner Courtyards, a 113,586-square-foot flex office building in Tempe, is now fully leased due to Cenlar FSB’s recent agreement to occupy 60,103 square feet. The building is located at 301 W. Warner Road. Other tenants to lease space at the property include CEC Educational Services and Yokowo American Corp. Cenlar, a loan servicing provider, originally occupied the building in August 2016 before expanding to its larger space. NGKF’s Jerry Jacobs represented Cenlar. Matt Nebeker of Cushman & Wakefield represented the landlord, Hannay Realty Advisors, in all three lease transactions.
ALPHARETTA, GA. — PGIM Real Estate has sold North Point Market Center, a 420,556-square-foot retail center located across the street from North Point Mall at 6200 N. Point Parkway in Alpharetta. The sales price was undisclosed, but the Atlanta Business Chronicle reports PGIM sold the property to CBRE Global Investors for nearly $109 million. North Point Market Center was nearly fully leased at the time of sale to tenants such as Nordstrom Rack, PetSmart, Five Guys, Stein Mart and Dick’s Sporting Goods. PGIM, which owns the nearby Avalon, purchased the retail center in 1998 in a joint venture and has been the sole owner since 2013.
ORLANDO, FLA. — Franklin Street has arranged the $21.3 million sale of Chowder Bay Apartments, a 304-unit multifamily community located at 4700 Rio Grande Ave. in Orlando. Fieldstone Properties LLC, a private equity investment firm, sold the asset to Dominium Management Services LLC, a Minneapolis-based apartment development and management company. Chowder Bay is a gated complex that features a swimming pool and sundeck, fitness center, lighted tennis courts and a children’s playground. Darron Kattan, Kevin Kelleher, Zachary Ames and Robert Goldfinger of Franklin Street’s Tampa office represented the buyer and seller in the transaction.
ELIZABETH, N.J. — Marcus & Millichap has brokered the $2.6 million sale of a 16,208-square-foot retail property in Elizabeth. Michael Lombardi of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, a private investor. Lombardi also secured and represented the buyer, another private investor. The property is located at 251 N. Broad St.
FARMERS BRANCH, TEXAS — Marcus & Millichap has brokered the sale of Midway Business Park, a 235,042-square-foot, mixed-use development in the Dallas-Fort Worth metro of Farmers Branch. Located at 13604-13740 Midway Road near the LBJ Freeway, the property, which was 80 percent occupied at the time of sale, offers retail, office and flex space. Ron Hebert and Michael Lawrence of Marcus & Millichap represented the seller, a California-based investment firm, and procured the buyer, a Texas-based investment firm.
WEST ALLIS, WIS. — Five Below has signed a 9,586-square-foot retail lease at West Allis Towne Centre in West Allis, six miles west of Milwaukee. The shopping center is located at 6768 W. Greenfield Ave. Tony Colvin and Dan Cohen of Mid-America Real Estate-Wisconsin LLC represented the tenant in the lease transaction.
SPRING, TEXAS — EDGE Realty Capital Markets has brokered the sale of Imperial Oaks Shopping Center, a 10,501-square-foot retail property located at 2319 Rayford Road in Spring. The center, which is shadow-anchored by Kroger, currently houses tenants such as Verizon Wireless, Today’s Vision and Sports Clips. Burdette Hoffman of EDGE represented the seller, Rayford Retail Partners, in the transaction. Sumner Hollingsworth of Hollingsworth & Associates represented the undisclosed buyer.