Hayward, Calif. — Marcus & Millichap has arranged the $6.7 million sale of Mt. Eden Shops, a 10,184-square-foot retail property located at 25965-26250 Industrial Blvd. in the San Francisco suburb of Hayward.
Several years after a punishing recessionary cycle, Michigan’s retail marketplace finds itself at somewhat of a crossroads. Steady and sustained economic growth and a robust retail recovery have things moving in the right direction. With few new large shopping centers opening in the last five to six years, these positive trends have led to the absorption of a great deal of available space. Consequently, demand for quality space has been picking up and retail rents have recently begun rising quite rapidly.
Woodbury, Minn. and Joliet, Ill. — Cronheim Mortgage has arranged two loans totaling $16.9 million to refinance two Gander Mountain stores in the Midwest.
Medford, Ore. — LBG Real Estate Cos. LLC is set to begin a $12 million redevelopment of Medford Center, a 420,000-square-foot entertainment and lifestyle center located in Medford.
Upland, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.9 million sale of a multi-tenant retail pad located in the Inland Empire community of Upland.
Miami — Weingarten Realty (NYSE: WRI) has acquired The Palms at Town & Country, a 664,000-square-foot, open-air shopping center located in Miami, for $285 million.
New York City — Macklowe Properties has announced that Whole Foods Market will anchor the retail component of One Wall Street in New York City.
Longmont, Colo. — NewMark Merrill Cos. has completed Phase I of development at Village at the Peaks, a 500,000-square-foot lifestyle center located in Longmont.
Gilbert, Ariz. — Cushman & Wakefield has arranged the $18 million sale of Lakeview Village, a 93,741-square-foot shopping center located in the Phoenix suburb of Gilbert.
Beverly, Mass. — Barnat Development has been selected by the Massachusetts Bay Transit Authority (MBTA) to develop a mixed-use, transit-oriented project at 112 Rantoul St. in the Boston suburb of Beverly.