New York City — SAGA Hospitality Group will open a 7,000-square-foot restaurant at 360 Park Avenue, a 450,000-square-foot office property in New York City. BXP, which acquired the building in December 2021, is the landlord. Upon opening, the concept will offer coffee and pastries throughout the day and seafood dishes at night.
Goodyear, Ariz. — Eight tenants are joining Canyon Trails Towne Center, a 90-acre mixed-use development located in Goodyear, roughly 19 miles outside Phoenix, bringing the property to full occupancy. Chipotle Mexican Grill recently opened a restaurant at the center, and Michael’s and Five Below will occupy 18,300 and 10,434 square feet, respectively. Target and Ross Dress for Less have also signed leases at the property, and Starbucks Coffee, Freddy’s Steakburgers and Denny’s are currently underway on the construction of spaces scheduled to open this fall. The landlords, principals of Santa Cruz …
St. Charles, Ill. — Marcus & Millichap has brokered the $4.1 million sale of a 31,650-square-foot retail property located in St. Charles, roughly 40 miles east of Chicago. Blue Goose Market previously occupied the building and closed in March 2022. The buyer, an undisclosed developer, plans to redevelop the property, which was originally built in 2008, into a national-branded grocery store. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented both the seller, a limited liability company, and the buyer.
Richmond, Texas — Dallas-based investment sales brokerage firm STRIVE has negotiated the sale of Waterview Town Center, a 13,563-square-foot retail strip center located in Richmond, a southwestern suburb of Houston. Jake Dutson and Adam Gottschalk of STRIVE represented the seller, a locally based developer, in the transaction.
Albuquerque, N.M. — Westwood Financial has sold Sycamore Plaza, a 37,442-square-foot shopping center located in Albuquerque, for an undisclosed price. Petsmart anchors the property, which was fully occupied at the time of sale. Other tenants include Sally Beauty, Einstein Bros. Bagels, Stretch Zone, GNC, Super Cuts and GameStop. CBRE National Retail Partners represented Westwood in the transaction.
Cut Off, La. — Dorsey Development Cos. has signed four new tenants to join the roster at Tarpon Heights Shopping Center, a 57,698-square-foot retail property in Cut Off. Dorsey recently completed renovations including replacing the roof and rebuilding the façade, following hurricane damage in 2021. Dollar General will return to its previous 11,398-square-foot space, and Bayou Ju Jitsu, El Viejon and Lafourche Parish Library have additionally leased space at the center.
Jupiter, Fla. — JLL Capital Markets has brokered the $39.1 million sale of Bluffs Square Shoppes, a 123,917-square-foot shopping center located in Jupiter. Constructed in 1986, the property is anchored by Publix. Other tenants at the center, which was 98 percent leased at the time of sale, include Walgreens, Uncle Eddie’s, Anthony’s Women Apparel, Goodwill, UPS, Toojay’s Deli and Cafe Solé. Danny Finkle, Jorge Portela, Eric Williams and Kim Flores of JLL represented the seller, Sterling Organization, in the transaction. BPS Partners acquired the property.
New York City — Eastern Union has secured a $62.3 million loan for the construction of a mixed-use development in the Brooklyn borough of New York City. Upon completion, the property will total 105,000 square feet, including a 33,000-square-foot Lidl. The project will also feature an additional 12,000 square feet of retail space, 57 residential units, 12,000 square feet of office space and a 9,000-square-foot community facility. Abraham Bergman and Yossi Orzel of Eastern Union arranged the two-year, floating-rate financing through Invictus Real Estate Partners, Maxim Capital Group and Beach Point …
Oceanside, Calif. — Faris Lee Investments has arranged the $5.9 million sale of a retail pad located in Oceanside. A recently constructed Starbucks Coffee and Pacific Dental occupy the property, which is situated within Pacific Coast Plaza. Jeff Conover, Don MacLellan, Scott DeYoung and Chris DePierro of Faris Lee represented the seller, a California-based developer. Shaun Riley of Faris Lee represented the all-cash buyer in the 1031-exchange transaction.
El Segundo, Calif. — Oath Pizza will open a 799-square-foot restaurant within The Works shopping center in El Segundo. Scheduled to open Aug. 5, the location will mark the first in the state for the brand, which was founded in 2015. The El Segundo restaurant is the first of three locations to be developed in California by franchise group Brothers Empire. Brothers, comprised of partners Mandeep Singh, Kulwant Jafal and Garish Talwar, is also considering storefronts in Orange County and Carlsbad.
