MAC 1045 5th Street LLC, an entity affiliated with The Comras Company of Florida, Inc., has secured $35 million in construction financing for the development of its planned Blvd at Lenox, a proposed multi-level retail property at 1045 5th St. in Miami Beach, FL.
CBRE Capital Markets’ debt and structured finance team, including Atlanta-based Jonathan Rice and Jeff Ackemann, arranged the financing on behalf of the developer, placing the loan package...
MAC Secures $35M to Finance Retail Development in Miami Beach
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Bassett Furniture Leases 16,000 SF in Middletown
Basset Furniture, a high-end furniture company, leased 15,643 square feet in the Dunning Farms Shopping Center at 88 Dunning Rd. in Middletown, NY.
The 270,745-square-foot retail strip was constructed in 1989 and renovated in 1992. Other tenants in the center include T.J. Maxx, A.C. Moore Arts & Crafts, PetSmart and Dollar Tree.
Colleen Quinn of RM Friedland represented the landlord, Chase Enterprises, Inc.
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Climbzone Preleases 25,000 SF at Greenleaf at Howell SC
Climbzone, an indoor rock climbing recreation center, leased 25,000 square feet at an in-development portion of the Greenleaf at Howell shopping center at 5319 U.S. Hwy 9 in Howell, NJ.
The 271,360-square-foot power center is located at the intersection of Route 9 North and Lanes Mill Road. SunEquity Partners owns the center, and Climbzone's lease is expected to commence this summer.
Charles Kavanagh of Blau & Berg represented the tenant....
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Home Furnishings Retailer Inks 10,000-SF Deal at Park Place Shopping Center
Howse Home Furnishings, a home décor and furniture store, signed a 10,088-square-foot retail lease at Park Place shopping center in Memphis, TN.
Park Place is located at 1185-1243 Ridgeway Rd. near the intersection of I-240 and US-72. Major tenants at the shopping center include GNC, Hallmark, Jason’s Deli and P.F. Chang’s.
The two-story retail building was developed in 1981 by RMS, Inc. and renovated in 1997. Loeb Properties purchased the...
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Q&A: Cho Notes Miami's Wynwood 'Had That Special Sauce'
Tony Cho, founder and CEO of the Metro 1 brokerage, was one of the first investors in Miami's Wynwood neighborhood, buying an eight-unit apartment building on 27th Street in 2003.
"It was a blighted, post-industrial warehouse district with neglected and abandoned textile buildings with tenants paying very low rents in very bad conditions," he recalls.
Plenty has changed in the past 15 years.
The 50-block arts corridor north of downtown is...
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Houston Restaurant Concept to Double U.S. Presence
A Houston-based restaurant concept plans to double its store portfolio in a multi-state expansion across the southern U.S.
Salata, a fast-casual, tossed-to-order salad and wrap restaurant, will look to more than double the number of its eateries in the United States to 200 by 2020 with the help of a CBRE-led brokerage team.
The team, led by CBRE Houston's Brian Ashby and Sydney Dixon, plans to expand Salata's restaurant operations by 30 locations...
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RedLine Athletics Signs Retail Lease at Oxford Commercial’s Dexter Crossing Shopping Center
RedLine Athletics, a youth athletic training and retail center, signed a 10,560-square-foot lease at the Dexter Crossing shopping center in Dexter, MI.
The 68,185-square-foot, single-story retail building at 7001-7093 Dexter Ann Arbor Rd. is leased to tenants including GNC, Hallmark, and Country Market.
Oxford Commercial purchased Dexter Crossing in April 2012, and continues to handle leasing in-house.
Nick Zagar, Alex Perlman and Thomas...
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Perseus TDC Begins Conversion of Former DoD Bldg. to High-End Multifamily and Retail
Perseus TDC is underway on the redevelopment of a massive 615,000-square-foot office complex in Alexandria, VA, into luxury multifamily and retail.
Partnering with Washington, D.C.-based developer Four Points LLC, the Transwestern Development Co. affiliate today confirmed it has kicked off the conversion of the 12-story concrete block at 200 Stovall St. into what will become a high-end mixed-use project featuring 520 apartments and 25,000 square...
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King’s Gate Shopping Center Trades for $6.9 Million
Midland Atlantic Properties, an investment, development and brokerage firm based in Cincinnati and Indianapolis, purchased the 105,368-square-foot King’s Gate shopping center in Cincinnati from RMS Realty for $6.85 million, or approximately $65 per square foot.
The shopping center is located at 7743-7779 Tylersville Rd. near I-75. Major tenants at King’s Gate include Big Lots, Liberty Tax Service and Firestone Complete Auto Care.
Midland Atlantic...
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RedLine Athletics Signs Lease at Oxford Commercial’s Dexter Crossing
RedLine Athletics, a nationwide youth athletic training franchise , signed a 10,560-square-foot lease at the Dexter Crossing shopping center in Dexter, MI.
The 68,185-square-foot, single-story structure at 7001-7093 Dexter Ann Arbor Rd. is leased to such other tenants as GNC, Hallmark, and Country Market.
Oxford Commercial purchased Dexter Crossing in April 2012 and continues to handle leasing in-house.
Nick Zagar, Alex Perlman and Thomas...
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Acquisitions at Oceanside Retail Center Total $41.7M
Ten buildings and a ground lease at the Del Oro Marketplace retail center in Oceanside, CA were sold in two separate deals for a total of $41.7 million.
The most recent transaction, closing in early March, involved 10 buildings at the center totaling 99,740 square feet, which sold for $32.5 million, or about $326 per square foot. CoStar data indicates the buildings – at 4101-4171 Oceanside Blvd. – were purchased by an affiliate of investor...
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Red Development Acquires Jefferson Pointe in Fort Wayne
Phoenix-based Red Development purchased the Jefferson Pointe lifestyle center in Fort Wayne, IN from Miller Capital Advisory, Inc. The price of the sale was not disclosed.
Built in 2000, Jefferson Point totals 407,363 square feet and is located on a 50.1-acre site at 4110 W. Jefferson Blvd. At the time of the sale, the center was approximately 84 percent occupied by a mix of regional and national tenants, including Carmike Cinemas, Bed Bath & Beyond...
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T.J. Maxx Takes Space in Former Home Depot
T.J. Maxx / Home Goods has signed a lease for 41,457 square feet of retail space in the Grove Plaza shopping center at 7210 E. Point Douglas Rd. E in Cottage Grove, MN.
The retailer plans to open in fall 2018, the first tenant to sign on to backfill the former Home Depot space. Three more spaces remain available in the newly-divided space.
The single-story, big-box retail building totals 116,950 square feet. It was built in 2002 and is owned...
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Invesco Buying into Santa Monica Sears Redevelopment with $50M Stake
Invesco Real Estate has acquired a 50-percent ownership stake in the mixed-use redevelopment of downtown Santa Monica’s landmarked Sears building, now known as the Mark 302.
The Atlanta-based investment management firm paid approximately $50 million to become a joint-venture partner with Seritage Growth Properties in the high-profile project at the shuttered Sears building at Colorado Avenue and Third Street, the companies announced today. Proceeds...
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NKF Hires Veteran Retail Broker from Cushman & Wakefield
Retail broker Jen Helm has left Cushman & Wakefield, where she started her career, to join the Minneapolis outpost of Newmark Knight Frank. She joins the firm as a managing director.
It is her first move since 2001. Helm joined the Bloomington office of Cushman & Wakefield, then known as Cushman & Wakefield / Northmarq, shortly after graduating from the University of St. Thomas with a bachelor's degree in real estate finance.
During her time...
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Safeway in Tucson Sells for $8.3 Million
The 55,228-square-foot Safeway at 9100 N. Silverbell Rd. in Tucson, AZ, has traded hands for $8.258 million, or about $150 per square foot, in an all-cash deal.
Fortress Investment Group sold the grocery store, which is on a 20-year NNN lease that commenced in November 2017 and includes eight five-year options, to an individual investor out of California.
The store anchors Continental Ranch, a 79,162-square-foot shopping center located in the...
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The Livanos Albany Group Acquires Fully Leased, 74,000-SF Shopping Center
Bethlehem Town Center II in Glenmont, NY
The Livanos Albany Group acquired a fully leased, 73,613-square-foot retail building in Glenmont, NY from a Latham, NY-based private investment company. Bethlehem Town Center II sold for $12.3 million, or approximately $167 per square foot.
The single-story structure at 241 Route 9W, which is part of the Walmart- and Lowes-anchored Bethlehem Town Center, was developed in 2007 on more than 17 acres within...
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Publix: Where Real Estate Investing is a Pleasure
Publix Super Markets isn’t just one of the nation’s top grocery chains, it’s also becoming a major real estate investor, buying up its own stores and self-anchored shopping centers when they hit the market.
The Lakeland, FL-based retailer has been steadily increasing its ownership of retail real estate and currently owns 371 of its 1,167 stores, or nearly a third, according to the company’s 2017 annual report. That’s 12 percent more than Publix...
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Northern Trust Co. Bldg. Fetches $23 Million
L3 Capital, a Chicago-based real estate investment firm, acquired the two-story property at 118-120 W. Oak St. in Chicago from MacMunnis for $23 million, or about $2,198 per square foot.
The retail building, delivered in 1944, totals 10,461 square feet and is fully leased to financial services company, The Northern Trust Corp. It is located in Chicago’s Oak Street Luxury District, only a few blocks from Oak Street Beach and various designer stores...
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Sears Hometown Inks 18,000-SF Renewal in Washington
Sears Hometown, a home appliance retailer, renewed its 18,000-square-foot retail lease for five years in the Washington Square shopping center at 1048 Washington Square Washington, MO.
The 126,480-square-foot center is located on a 10-acre site in Franklin County and was constructed in 1979, but was renovated in 2011, according to CoStar data. Other major tenants within Washington Square include Big Lots, Petco and Dollar General.
Gary Essman...
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