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Alex Tostado

FinanceFloridaMixed-useNews

Dockerty Romer Arranges $53.1 Million Loan for Refinancing of Mixed-Use Asset in Miami’s Coconut Grove

by Alex Tostado

Miami — Dockerty Romer & Co. has arranged a $53.1 million permanent loan for the refinancing of Mayfair in the Grove, a three-story mixed-use asset in Miami’s Coconut Grove neighborhood spanning 281,066 square feet. Situated adjacent to the Mayfair Hotel & Spa, the property features office and retail space spread across three buildings. Mayfair in the Grove was 94.1 percent leased at the time of financing to tenants including Sony Music, Sapient Technologies, Regus and General Electric. Craig Romer and Chris Romer of Dockerty Romer, a RECA (Real Estate Capital …

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ColoradoDevelopmentMixed-useNews

Confluent, Kelmore Break Ground on 140,000-Square-Foot Boulevard at Lowry Mixed-Use Project in Denver

by Alex Tostado

Denver — Confluent Development and Kelmore Development have broken ground on The Boulevard at Lowry, a commercial mixed-use redevelopment project in Denver’s Lowry neighborhood. Situated on 1.5 acres, the infill development will feature 140,000 square feet of restaurant, retail and office space. A 25,000-square-foot Lucky’s Market will anchor the property. Additional tenants will include a 1,750-square-foot Logan House Coffee Co. Completion is scheduled for fourth-quarter 2020.

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DevelopmentGeorgiaNewsRetailers

Tri-Land Breaks Ground on Redevelopment of 253,000-Square-Foot Shopping Center in Metro Atlanta

by Alex Tostado

Conyers, Ga. — Tri-Land Properties Inc. has begun construction on the overhaul of Salem Gate Market, a 253,000-square-foot, grocery-anchored shopping center located 25 miles southeast of Atlanta in Conyers. The multimillion-dollar redevelopment will include a 55,000-square-foot Hobby Lobby, 20,000-square-foot Northern Tool + Supply, a 103-room hotel and an Allure Nail & Spa. Tri-Land is rebuilding Salem Gate in a public-private partnership with the city of Conyers. Salem Gate is the first project underway as part of the Conyers Gateway Village District, the product of a new zoning ordinance adopted by …

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CaliforniaInvestment salesNewsRetailers

Brixton Capital Sells 290,000-Square-Foot Towngate Center in Moreno Valley for $50.9 Million

by Alex Tostado

Moreno Valley, Calif. — Brixton Capital has completed the sale of Towngate Center, a community shopping center located at 12625 Frederick St. in Moreno Valley, California. An Asian-Pacific-based 1031 exchange buyer acquired the asset for $50.9 million. At the time of sale, the 290,000-square-foot property was 95 percent occupied by tenants including TJ Maxx/Home Goods, BevMo, Ross Dress for Less, Dollar Tree, Ulta Beauty, Regency Theaters, Planet Fitness, Chipotle Mexican Grill and Wells Fargo Bank. Phillip Voorhees of CBRE’s National Retail Partners-West represented the seller in the transaction.

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Investment salesNevadaNewsRetailers

PEBB Enterprises Acquires 228,279-Square-Foot Rainbow Promenade Retail Center in Las Vegas

by Alex Tostado

Las Vegas — PEBB Enterprises has purchased Rainbow Promenade, a retail power center adjacent to U.S. 95 and North Rainbow Boulevard near Las Vegas’ Summerlin submarket. PEBB acquired the 228,279-square-foot property through an auction platform. The price was not disclosed. The center recently underwent a $5 million renovation and is currently 95 percent occupied by a variety of tenants, including Hobby Lobby, Barnes & Noble Bookstore, Party City and Cost Plus World Market. The asset also includes three ground-lease pads occupied Macaroni Grill, Chili’s Grill & Bar and AMC Theatres. …

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AlabamaInvestment salesNewsRetailers

Marcus & Millichap Negotiates $7.8 Million Sale of Retail Center in Eastern Alabama

by Alex Tostado

Gadsden, Ala. — Marcus & Millichap has arranged the $7.8 million sale of Riverview Plaza, a 148,860-square-foot shopping center in Gadsden, Alabama. Bargain Hunt, Harbor Freight Tools, Tuesday Morning and Dollar Tree anchor the center. Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, EIG Riverview Plaza LLC, in the transaction. Louise Jennings of Real Estate Southeast represented the buyer, MR Stealth LLC, which is a private investor.

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FinanceNewsOhioRetailers

NorthMarq Arranges $4.4 Million Acquisition Loan for Retail Property in Dayton, Ohio

by Alex Tostado

Dayton, Ohio — NorthMarq Capital has arranged a $4.4 million loan for the acquisition of Northwest Plaza in Dayton. The 220,000-square-foot retail property is located at 3295 W. Siebenthaler Ave. Citi Trends is one of the tenants. Noah Juran of NorthMarq arranged the 10-year, fixed-rate loan, which features a 25-year amortization schedule. A regional bank provided the loan.

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DevelopmentFloridaNewsRetailers

Developer Breaks Ground on 50,000-Square-Foot Retail Project, 922-Space Garage in Downtown Miami

by Alex Tostado

Miami — Miami Worldcenter Associates has broken ground on a 50,000-square-foot retail project and a 922-space parking garage within its namesake development, the $4 billion Miami Worldcenter, which is located in the city’s downtown area. The street-level retail space and new parking structure will front NE 7th Street and will ultimately be part of Miami Worldcenter’s 300,000 square feet of retail, restaurant and entertainment space. A portion of the parking garage’s rooftop will feature a rooftop amenity deck, which will serve the residents of Luma, a 43-story multifamily tower next …

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FinanceGeorgiaNewsRetailers

Grandbridge Provides Two Acquisition Loans Totaling $20 Million for Metro Atlanta Retail Centers

by Alex Tostado

Duluth and Fayetteville, Ga. — Grandbridge Real Estate Capital has provided a pair of acquisition loans totaling approximately $20 million for two retail centers 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 22 miles south of Atlanta. …

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Investment salesNewsRetailersTexas

BCTS Partners Sells 23,080-Square-Foot Retail, Office Property in West Houston

by Alex Tostado

Houston — BCTS Partners LLC has sold Copper Lakes Shopping Center, a commercial property in west Houston that consists of 16,080 square feet of retail space and 7,000 square feet of office space. Copper Lakes was 91 percent leased at the time of sale to tenants such as Fitness 19, Snowflake Donuts, Homebase Pizza and Hollywood Fashion Nails. Austen Baldridge and Brad Elmore of Houston-based NewQuest Properties represented BCTS Partners, which developed the property in 2007, in the sale. The buyer was Parkway Brothers Investment Inc.

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