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Hayden Spiess

Party-City
Company newsGeorgiaIllinoisIowaLeasingLouisianaMichiganNew YorkNewsTexasWest Virginia

A&G to Auction Eight Party City Leases

by Hayden Spiess

New York City — A&G Real Estate Partners will auction eight Party City leases in its capacity as real estate advisor to the retailer. These leases — which include locations in Georgia, Iowa, Illinois, Louisiana, Michigan, New York, Texas and West Virginia — come in addition to 12 Party City leases announced for auction by A&G in late February. Ranging in size from 7,500 to 28,000 square feet, 18 total leases remain open. This move is part of Party City Holdco Inc. (PCHI)’s financial restructuring, which is expected to be …

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Grocery-anchoredInvestment salesNewsPennsylvania

Heidenberg Sells 229,724-Square-Foot Retail Center in Hummelstown, Pennsylvania

by Hayden Spiess

Hummelstown, Pa. — Heidenberg Properties has sold Hershey Square, a 229,724-square-foot retail center located in Hummelstown. Weis anchors the property, which was built in 1994 and 98 percent occupied at the time of sale. Other tenants at the center include Planet Fitness, Five Below, Chipotle Mexican Grill, Goodyear, AT&T, Verizon Wireless, Five Guys and VisionWorks. Christopher Munley, Jim Galbally and Colin Behr of JLL Capital Markets represented Heidenberg in the transaction.

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IndianaInvestment salesNews

Marcus & Millichap Arranges $5.3 Million Sale of Retail Property in Metro Chicago

by Hayden Spiess

Merillville, Ind. — Marcus & Millichap has arranged the $5.3 million sale of Century Plaza, an 18,215-square-foot property located in Merrillville, roughly 40 miles southeast of Chicago. Tenants at the property include Panera Bread. Alex Perez and Chris Garavaglia of Marcus & Millichap represented the seller and secured and represented the buyer, both limited liability companies.

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ColoradoInvestment salesNews

RealSource Brokers $3.1 Million Sale of Single-Tenant Retail Property in Monument, Colorado

by Hayden Spiess

Monument, Colo. — RealSource Group has arranged the $3.1 million sale of a single-tenant retail building located in Monument. Grease Monkey occupies the 5,309-square-foot building, which was built in 1995 and renovated in 2007. The tenant recently signed a 10-year initial lease. Austin Blodgett and Jonathan Schiffer of RealSource, along with ParaSell Inc., represented the seller, a private investor, in the deal.

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DevelopmentLeasingNew JerseyNews

Four New Tenants to Join The Shoppes at Print House in Hackensack, New Jersey

by Hayden Spiess

Hackensack, N.J. — Three new tenants have signed leases at The Shoppes at Print House, a 23-acre redevelopment project currently underway in Hackensack. Hackensack Meridian Health will occupy 6,076 square feet at the development, and Starbucks Coffee and Blue Foundry Bank will lease 3,000 and 2,151 square feet, respectively. Jersey Mike’s will also open a space at the project. Michael Walters, Jonathan Kristofich and Cameron Silverstein of NAI James E. Hanson represented the developers — The Hampshire Cos., Russo Development and Fourth Edition Inc. — in the lease negotiations.

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Company newsNewsVirginia

Divaris Real Estate Acquires McGarey Group

by Hayden Spiess

Virginia Beach, Va. — Divaris Real Estate has acquired The McGarey Group, which specializes in mixed-use retail development, leasing and advisory services. McGarey Group will operate as a division of Divaris moving forward, with its team retaining their current roles. Denver McGarey, who has 40 years of industry experience, leads The McGarey Group, which has been involved in projects totaling 41 million square feet across the U.S., China and Japan. “Denver and his team have ambitious work ethic, unwavering commitment to integrity and an impressive track record of delivering exceptional …

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CaliforniaInvestment salesNews

SRS Brokers $5.4 Million Sale of Multi-Tenant Retail Property in Palmdale, California

by Hayden Spiess

Palmdale, Calif. — SRS Real Estate Partners has arranged the $5.4 million sale of a retail property located in Palmdale. A private investor acquired the 11,788-square-foot property, which was fully to six tenants including Jenny Craig and Verizon Wireless at the time of sale. The property comprises a portion of Palmdale Marketplace, a 450,000-square-foot retail center anchored by Target, Lowe’s Home Improvement and Sprouts Farmers Market. Matthew Mousavi and Patrick Luther of SRS’ national net lease group represented both the buyer and seller in the transaction.

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Grocery-anchoredInvestment salesNewsPennsylvania

JLL Brokers Sale of 124,262-Square-Foot Shopping Center in Metro Philadelphia

by Hayden Spiess

New Britain, Pa. — JLL has brokered the sale of Town Center of New Britain, a 124,262-square-foot shopping center located in the Philadelphia suburb of New Britain. Giant Food anchors the center, which was built in 1990 and renovated in 2002. Tenants at the property, which was 91 percent leased at the time of sale, include Rite Aid, Dollar Tree, Verizon Wireless and AutoZone. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the seller, Federal Realty Investment Trust, in the transaction. Milbrook Properties acquired the property for an …

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CaliforniaInvestment salesNewsRestaurants

Hanley Arranges $4 Million Sale of Two-Tenant Retail Pad in Metro Sacramento

by Hayden Spiess

Roseville, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4 million sale of a two-tenant retail pad located in Roseville, roughly 20 miles northeast of Sacramento. Chipotle Mexican Grill and Sushi Roku occupy the 4,808-square-foot property, which is situated within Freedom Point Plaza shopping center. Jeff Lefko and Bill Asher of Hanley represented the seller, Covenant Real Estate Group, in the transaction. Scott Pesch of CB Commercial Pacific Partners represented the buyer, a private investor.

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DevelopmentLeasingNewsTexas

SVN | J. Beard Real Estate Begins Leasing 9,615-Square-Foot Retail Project Near Houston

by Hayden Spiess

Magnolia, Texas — SVN | J. Beard Real Estate has begun leasing Country Forest Plaza, a 9,615-square-foot retail project located in Magnolia, about 45 miles northwest of Houston. Tenant spaces will range in size from 1,300 to 5,715 square feet. Kane Dunbar is serving as general contractor for the project, construction of which began in January and is expected to be completed during the summer.

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