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Hayden Spiess

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ColoradoFinanceNews

Shopping Center in Suburban Denver Secures $28.9 Million Refinancing

by Hayden Spiess

Northglenn, Colo. — JLL Capital Markets has arranged the $28.9 million refinancing of Northglenn Marketplace, a shopping center located in Northglenn, a suburb of Denver. Eric Tupler and Rob Bova of JLL represented the borrower, a joint venture managed by Hutensky Capital Partners, and secured a five-year, floating-rate loan through HTLF. Lowe’s anchors the center, which is also leased to tenants including JOANN Fabric and Crafts, Ross Dress for Less, PetSmart, Woodley’s, Office Depot, Painted Tree Boutiques, dd’s Discounts, Five Below, K&G and Cinzetti’s.

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LeasingNewsPennsylvania

Four Tenants Join Suburban Square in Metro Philadelphia

by Hayden Spiess

Ardmore, Pa. — Kimco Realty has arranged leases with four new tenants at Suburban Square, a shopping center located in Ardmore, approximately 10 miles northwest of Philadelphia. Clothing retailers Addison Bay, Faherty and Veronica Beard and restaurant maman have opened storefronts at the center. These openings mark the first Pennsylvania locations for Addison Bay, maman and Veronica Beard. Originally established in 1928 and renovated in 2017, Suburban Square is also home to tenants including Apple, Trader Joes, SoulCycle and Lilly Pulitzer. Design with Reach, Custom Ink and Jenni Kayne are also …

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Frederick-Crossing
LeasingMarylandNews

Edge Negotiates 20,000-Square-Foot Retail Lease with Vet Clinic at Frederick Crossing in Maryland

by Hayden Spiess

Frederick, Md. — Edge has negotiated a 20,000-square-foot lease with Partner Veterinary Emergency and Specialty Center at Frederick Crossing, a nearly 300,000-square-foot power retail center located at 7330 Guilford Drive in Frederick. Kristin Rebeck of Edge represented the tenant, which plans to open the clinic in the spring and employ roughly 70 people once fully operational. Adam Greenberg of DLC Management Group represented the landlord, a partnership between DLC and Acadia Realty Trust. Situated near I-70, Frederick Crossing’s tenant roster includes Kohl’s, Best Buy, Regency Furniture, Ross Dress for Less, …

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Grocery-anchoredLeasingNew JerseyNews

Azarian Realty Leases 5,400 Square Feet at Allendale Town Center in Northern New Jersey

by Hayden Spiess

Allendale, N.J. — Azarian Realty Co. has arranged two new leases at Allendale Town Center, a 90,000-square-foot shopping center located in Allendale in Northern New Jersey. Bergen County Pediatric Dentistry will occupy 2,270 square feet and the center, and AM/PM Walk-In Urgent Care will occupy 3,100 square feet. Kevin Pelio of Azarian, which is the exclusive leasing and managing agent for the property, represented both the landlord and tenants in the transactions. Primo Hoagies, a sandwich shop, is also scheduled to open at the center in 2023, leasing 2,008 square …

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Dollar-General_Portfolio
Investment salesNet leaseNew YorkNews

Legacy Realty Group Advisors Brokers $53 Million Sale of 37-Property Dollar General Portfolio in the Southeast

by Hayden Spiess

New York City — Legacy Realty Group Advisors LLC has arranged the sale of a portfolio comprising 37 Dollar General-occupied stores located in the Southeast. An undisclosed net-lease REIT acquired the properties from a privately held real estate developer for $53 million. Jacob Baruch and Daniel Baruch of Legacy Realty represented both parties in the transaction. Legacy Realty is a commercial real estate advisory firm based out of New York that specializes in off-market transactions across the United States.

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DevelopmentMixed-useNew YorkNews

Reports: New York City Council Approves $2 Billion Mixed-Use Project in Queens

by Hayden Spiess

New York City — The New York City Council has approved Innovation QNS, a $2 billion mixed-use project that will be located in the Astoria neighborhood of Queens, according to reports from multiple news outlets including Crain’s and Patch. A partnership between BedRock Real Estate Partners, Kaufman Astoria Studios and Silverstein Properties is developing Innovation QNS, which will span five city blocks and will be an expansion of the Kaufman Arts District. The various reports differ on the exact size of the multifamily component, but the project page on the …

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IndianaInvestment salesNews

Marcus & Millichap Brokers $6.5 Million Sale of Retail Center in Lafayette, Indiana

by Hayden Spiess

Lafayette, Ind. — Marcus & Millichap has brokered the $6.5 million sale of Eastway Plaza in Lafayette, roughly 63 miles northwest of Indianapolis. The 72,000-square-foot retail center is located on Sagamore Parkway. Built in the late 1980s, the property is home to 29 tenants. Jordan Klink of Marcus & Millichap represented the seller, Southmore Square LP, a limited partnership based in Delaware. Klink also procured the buyer, Churchyard LLC, a limited liability company based in Indiana.

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west-oaks
LeasingMichiganNews

Burlington to Open 25,755-Square-Foot Store at West Oaks Shopping Center in Metro Detroit

by Hayden Spiess

Novi, Mich. — Burlington has signed a 25,755-square-foot retail lease to open a new store at West Oaks shopping center in Novi, approximately 30 miles northwest of Detroit. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, RPT Realty. Brad Gersham of GP Rep Services represented the tenant. Anchor tenants at West Oaks include Kohl’s, Bob’s Furniture and Gardner White.

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IllinoisInvestment salesNewsRestaurants

Marcus & Millichap Arranges $6.6 Million Acquisition Financing for Retail Portfolio in Chicago Suburb

by Hayden Spiess

Orland Park, Ill. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $6.6 million loan for the acquisition of a retail portfolio in the Chicago suburb of Orland Park. The portfolio spans 20,732 square feet and is home to tenants including Chipotle Mexican Grill, Panera Bread, Smashburger, Raising Cane’s and BJ’s Brewhouse. Dean Giannakopoulos, Frank Montalto and Matthew Smego of MMCC arranged the 10-year loan, which features a fixed interest rate of 4.65 percent. Sean Sharko and Austin Weisenbeck of Marcus & Millichap brokered the transaction. An undisclosed lender …

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Investment salesMixed-useNewsTennessee

Northwood Investors Acquires Fifth + Broadway Mixed-Use Development in Nashville for $715 Million

by Hayden Spiess

Nashville, Tenn. — Global real estate investment firm Northwood Investors LLC has acquired Fifth + Broadway, a newly developed mixed-use project in Nashville. The purchase price was $715 million, according to the Nashville Post. Brookfield Properties, which developed and operated the asset, completed construction in 2021. Northwood purchased the property in its entirety, including the retail portion, 501 Commerce office tower and The Place residences, from a subsidiary of Brookfield. Fifth + Broadway is one of the largest single-phase mixed-use developments in the history of the city and the state …

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