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Hayden Spiess

Sawyers-Walk_Miami
DevelopmentFloridaLeasingMixed-useNews

SG Holdings Completes Leasing at $350 Million Mixed-Use Development in Miami, Plans Summer Opening

by Hayden Spiess

Miami — SG Holdings has completed leasing at Sawyer’s Walk, a 3.4-acre mixed-use development underway in Miami’s Overtown neighborhood. The project, which will feature retail space, offices and affordable housing for seniors, is set to open this summer. SG Holdings is a partnership comprising Swerdlow Group, SJM Partners and Alben Duffie. The development team broke ground on Sawyer’s Walk in summer 2021. The development costs were not disclosed, but the Miami Herald reported the price tag hovers around $350 million. “The anticipated delivery of our mixed-use development will serve as an economic catalyst …

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Fiddler's-Run_Morganton-N.C
Grocery-anchoredInvestment salesNewsNorth Carolina

Legacy Brokers $8.3 Million Sale of Fiddler’s Run Shopping Center in North Carolina

by Hayden Spiess

Morganton, N.C. — Legacy Realty Group Advisors has brokered the $8.3 million sale of Fiddler’s Run Shopping Center in Morganton. Food Lion anchors the property, which totals 200,000 square feet. Jacob Baruch and Daniel Baruch of Legacy represented both the buyer and seller in the transaction. 

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Guadalupe-Plaza_Albuquerque-N.M
FinanceNew MexicoNews

Ariel Property Advisors Arranges $5.5 Million Refinancing for Retail Center in Albuquerque, New Mexico

by Hayden Spiess

Albuquerque, N.M. — Ariel Property Advisors has arranged a $5.5 million loan for the refinancing of Guadalupe Plaza, an 87,000-square-foot retail center located in Albuquerque. Matt Swerdlow, Matthew Dzbanek and Rhea Vivek secured the 15-year refinancing on behalf of the borrower, a New Jersey-based investor. The loan features one year of interest-only payments and a 30-year amortization with no prepayment penalty. 

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Level99
EntertainmentLeasingNewsRhode Island

Level99 Opens 40,000-Square-Foot Entertainment Venue in Rhode Island

by Hayden Spiess

Providence, R.I. — Entertainment concept Level99 has opened a new, 40,000-square-foot venue at Providence Place in Providence. Comprising 43 rooms, the facility offers interactive challenges as well as a restaurant, Night Shift Brewing Kitchen & Tap. Investment vehicle Act III Holdings, led by Panera Bread founder Ron Shaich, backs Level99. Brookfield Properties is the landlord at Providence Place. 

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Harrison-Crossing-Shopping-Center_Fredericksburg-Va
LeasingNewsRestaurantsVirginia

Tropical Smoothie Cafe Signs 1,500-Square-Foot Lease in Metro Washington, D.C.

by Hayden Spiess

Fredericksburg, Va. — Tropical Smoothie Cafe has signed a 1,500-square-foot, seven-year lease in Fredericksburg, roughly 50 miles outside Washington, D.C. The new store will be situated within Harrison Crossing Shopping Center, which is anchored by Giant Food, The Home Depot and Petco. Divaris Real Estate represented the landlord in the lease negotiations. Tropical Smoothie Cafe currently operates 1,150 restaurants throughout the U.S.

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Surprise
ArizonaDevelopmentMixed-useNews

GTIS Partners, Clyde Capital Plan $250 Million Asante Trails Mixed-Use Project in Surprise, Arizona

by Hayden Spiess

Surprise, Ariz. — A joint venture between GTIS Partners and Clyde Capital has released plans for Asante Trails, a $250 million mixed-use project in Surprise, a suburb of Phoenix. The development will feature a build-to-rent community, retail space and a medical facility, all of which will be built across 90 acres of land. In conjunction with the land acquisition, GTIS and Clyde sold 20 acres within the project site to HonorHealth, one of Arizona’s largest hospital systems, to develop the medical facility. Additionally, 45 acres will be allocated to a joint …

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Raising-Cane's_Imperial-Beach-Calif
CaliforniaInvestment salesNewsRestaurants

Hanley Brokers $5.7 Million Sale of Single-Tenant Property in Metro San Diego

by Hayden Spiess

Imperial Beach, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $5.7 million sale of a single-tenant property located in Imperial Beach, roughly 15 miles outside San Diego. Raising Cane’s Chicken Fingers occupies the building, which is situated on a 0.7-acre pad site. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, an entity doing business as Palm Avenue 111 Partners LLC, in the 1031, all-cash transaction. Scott Ketchum, a Newport Beach-based broker, represented the buyer, a family trust. 

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4130-Concord-Pike_Wilmington-Del
DelawareLeasingNews

Aldi Signs 33,262-Square-Foot Lease in Delaware

by Hayden Spiess

Wilmington, Del. — Aldi has signed a 10-year, 33,262-square-foot lease in Wilmington. The Germany-based grocer will occupy a property situated on 3.1 acres. Jim O’Hara and Neil Killian of NAI Emory Hill Real Estate Services represented the landlord, LBD Wilmington, in the lease negotiations.  Jason Block of MCS represented Aldi. 

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Fifth-Avenue
Investment salesNew YorkNews

Gucci Owner Acquires Fifth Avenue Retail Property in New York City for $963 Million

by Hayden Spiess

New York City — Global luxury group Kering has acquired a multi-level retail property at 715-717 Fifth Ave. in New York City for $963 million. The Paris-based company manages the development of a number of major fashion houses including Gucci, Saint Laurent, Balenciaga and Alexander McQueen.  The 115,000-square-foot space spans multiple levels at the base of the Corning Glass Building, a 28-story office tower developed in 1959. Rival fashion houses Dolce & Gabbana and Armani currently occupy the space. The Armani lease at the property is up in a few months, …

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