West Covina, Calif. — Progressive Real Estate Partners has brokered the $2.4 million sale of a retail center located in West Covina, roughly 20 miles east of Los Angeles. The property, which totals 7,760 square feet, was fully occupied by five tenants at the time of sale. Greg Bedell and Roxanne Klein of Progressive represented the seller, a private investor, in the transaction.
Bloomfield Hills, Mich. — Michigan-based developer and owner Lormax Stern has signed leases totaling 84,819 square feet with four new tenants at three of its shopping centers. Beginning this fall, Ross Dress for Less will occupy 25,000 square feet at Bay Mall in Petoskey, Michigan. Additionally, Tike Ace Hardware and PGA TOUR Superstore have signed leases at The Fountains in Overland Park, Kansas. The retailers will occupy 14,291 and 29,728 square feet, respectively. Also in Kansas, DSW will open a 15,800-square-foot store this winter at Quivira 95 in Lenexa.
Avon, Conn. — Cronheim Mortgage has arranged a $24 million loan for the permanent financing of Avon Marketplace, a 78,687-square-foot retail center located in Avon. Dev Morris, Andrew Stewart and Allison Villamagna secured the five-year loan on behalf of the borrower, an affiliate of David Adam Realty. Built in 1994, the property comprises two single-story buildings that were fully leased at the time of financing. Tenants at the center include Ulta Beauty, Athleta, LensCrafters, GAP Factory, New Balance, Starbucks Coffee, Verizon and The Orvis Co.
Manchester, Tenn. — Cushman & Wakefield has brokered the sale of a Whispering Pines, a shopping center in Manchester. Totaling 107,000 square feet, the property was fully leased at the time of sale. Lane Breedlove and Margaret Jones of Cushman & Wakefield represented the seller, an entity doing business as Core Whispering Pines LLC. Landon Williams and Katie Hargett, also of Cushman & Wakefield, represented the buyer, an entity doing business as BAG3 Holding LLC.
Huntington Station, N.Y. — Whole Foods Market will open a new, 43,916-square-foot store at Huntington Shopping Center in Huntington Station. Scheduled to open next month, the store will feature more than 2,000 local items from the Northeast, a bakery, specialty cheese department and full meat and seafood counters. Federal Realty is the landlord of the shopping center.
West Palm Beach, Fla. — JLL Capital Markets has arranged $84.2 million in senior construction financing for the first phase of the Nora District, a mixed-use redevelopment project in West Palm Beach. Bank OZK provided the financing to the borrower, a joint venture between NDT Development, Place Projects, Wheelock Street Capital and BD Hotels. Upon completion, the first phase will feature 150,000 square feet of retail, restaurant and creative office space. Retail tenants at the development will include Van Leeuwen Ice Cream, H&H Bagels, Juliana’s Pizza, Loco Taqueria and Oyster Bar …
Forestville, Md. — Marcus & Millichap has brokered the $7.4 million sale of Penn Forest Shopping Center, a 37,425-square-foot retail center located in Forestville. Tenants at the property include Dollar General and CSL Plasma. Dean Zang, David Crotts and Jeffrey Pensak of Marcus & Millichap represented the seller, an affiliate of Woodmont Properties, in the transaction. Eastern Union and an undisclosed bank lender provided acquisition financing to the buyer.
Lawrenceville, N.J. — Six new tenants have signed leases at Mercer on One, a shopping center located in Lawrenceville. Scheduled to open later this year, Bloomingdales Outlet, J.Crew Factory and Sephora will occupy 18,649; 6,000; and 4,818 square feet, respectively. Lazy Dog Restaurant, D1 Sports & Athletics and Nan Xiang Express have also signed leases at the property and are scheduled to open next year. Lazy Dog Restaurant will occupy 8,511 square feet, with D1 Sports & Athletics and Nan Xiang Express taking over 3,800 and 2,817 square feet, respectively. Federal …
New York City — Chick-fil-A and dog-daycare concept Hounds Town USA have signed leases at 809 Atlantic Ave., a 60,000-square-foot mixed-use property in Brooklyn in New York City. Chick-fil-A will occupy 5,000 square feet, with Hounds Town USA occupying 6,000 square feet within the building, which also features residential, amenity and healthcare space. David Alani and Michael Friedman of Inline Realty represented Chick-fil-A in the lease negotiations, and JLL represented the landlord, Hope Street Capital.
Johns Creek, Ga. — Big V Property Group has acquired Johns Creek Town Center, a 303,297-square-foot retail center located in Johns Creek, roughly 30 miles northeast of Atlanta. Sprouts Farmers Market anchors the property, which was built in 2001 and 99.7 percent leased at the time of sale. Other tenants at the center include HomeGoods, Michaels, Market by Macy’s, Kohl’s, PetSmart and Ulta Beauty. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the undisclosed seller in the transaction.
