Thursday, November 28, 2024
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Katie Sloan

Greenbrier-Crossing
GeorgiaInvestment salesNews

Skyline Seven Negotiates $13.5 Million Sale of Greenbrier Crossing in Atlanta

by Katie Sloan

Atlanta — Skyline Seven Real Estate has negotiated the $13.5 million sale of Greenbrier Crossing, a 48,515-square-foot retail center located near Greenbrier Mall in Atlanta. The property is anchored by Kroger, which was not included in the sale. The fully occupied center is home to tenants including CVS/pharmacy, Chase Bank, City Gear, Davita Dialysis, Anthem BlueCross BlueShield and CenterWell Primary Care. The buyer, seller and terms of the transaction were undisclosed, though Skyline reports that the property traded at its full list price. 

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Bridgewater-Commons
FloridaInvestment salesNews

IPA Brokers $9.9 Million Sale of 62,460-Square-Foot Retail Center in Orlando

by Katie Sloan

Orlando, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $9.9 million sale of Bridgewater Commons, a 62,460-square-foot retail center located in Orlando. The property is anchored by Winn-Dixie and was leased to tenants including Subway, Avalon Dance Studio, Two Guys Pizzeria, Amigos Barbershop, New Shang Hai Restaurant, Winn Dixie Liquors and Greenberg Dental at the time of sale. The center, which was built in 1998, is shadow-anchored by a CVS/pharmacy that was not included in the transaction. Kirk Olson and Drew Kristol of …

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DevelopmentFloridaNews

Publix Opens at 80,000-Square-Foot Retail Center in Metro Jacksonville

by Katie Sloan

Yulee, Fla. — Publix has opened at The Crossings at Wildlight, an 80,000-square-foot shopping center currently under development by Sleiman Enterprises and Raydient Places + Properties in Yulee, Florida. The property is located at 76010 William Burgess Blvd., roughly 22 miles north of Jacksonville. The grocery store features departments including a bakery, deli, produce, meat and seafood, gourmet meats and cheeses, florals, a pharmacy and wine and beer. The Crossings at Wildlight will include three multi-tenant retail buildings, two additional single or multi-tenant buildings and up to three outparcels. Construction …

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Bolour-Conoga-Warner Center
CaliforniaInvestment salesNews

Bolour Associates Acquires 10,400-Square-Foot Retail Center in Woodland Hills, California

by Katie Sloan

Woodland Hills, Calif. — Bolour Associates has acquired Warner Center, a 10,400-square-foot retail property located at 5780 Canoga Ave. in Woodland Hills. The center is located near LNR Warner Center, an 800,000-square-foot office development. Michael Pakravan and Kyle Pari of Matthews Real Estate Investment Services represented both the buyer and the seller, Flamingo Investments, in the transaction. The new ownership plans to modernize and reposition the center, with planned renovations including facade and exterior upgrades, new landscaping and signage and expanded patio spaces.

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Miracle-Mile-Shops-Las-Vegas
DevelopmentNevadaNews

Institutional Mall Investors Starts Renovations at 500,000-Square-Foot Miracle Mile Shops on Las Vegas Strip

by Katie Sloan

Las Vegas — Institutional Mall Investors LLC, a joint venture between Miller Capital Advisory and CalPERS, has started renovations at Miracle Mile Shops, a 500,000-square-foot shopping center on the Las Vegas Strip. The property is attached to the Planet Hollywood Resort & Casino. The mixed-use project will remain open during construction, which is scheduled for completion in spring of 2023. The redevelopment costs were not disclosed.  New entertainment features will include exterior and interior immersive light, sound and video experiences. Miracle Mile Shops guests will also enjoy new and upgraded …

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2625-2635-Mall-View-Road-Bakersfield-CA
CaliforniaInvestment salesNews

ZDI Purchases 29,387-Square-Foot Retail Center in Bakersfield, California

by Katie Sloan

Bakersfield, Calif. — ZDI Inc. has acquired a retail center, located at 2625-2635 Mall View Road in Bakersfield, for $8.1 million through a 1031 exchange. The seller was a local partnership of real estate professionals, which has owned the property for more than 15 years after purchasing it from the original developer. Built in 2005, the 29,387-square-foot retail property is fully occupied by a variety of tenants, including a major office supply retailer. Cushman & Wakefield’s Duane Keathley and Vincent Roche represented the seller in transaction.

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FinanceInvestment salesNewsPennsylvania

MMCC Arranges $4.8 Million Acquisition Loan for Retail Property in Suburban Pittsburgh

by Katie Sloan

Monroeville, Pa. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $4.8 million acquisition loan for a 12,738-square-foot retail property in Monroeville, an eastern suburb of Pittsburgh, that is fully leased to Rite Aid. Jared Cassidy of MMCC arranged the loan, which was structured with a 10-year term, fixed interest rate and a 30-year amortization schedule, through an undisclosed credit union. The undisclosed borrower acquired the asset via a 1031 exchange.

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LeasingNewsPennsylvania

T.J. Maxx Opens 25,000-Square-Foot Store at Westfall Town Center in Matamoras, Pennsylvania

by Katie Sloan

Matamora, Pa. — T.J. Maxx has opened a 25,000-square-foot store at Westfall Town Center, a 115,360-square-foot shopping center in Matamoras, located near the confluence of the New Jersey-New York-Pennsylvania border. A 73,000-square-foot ShopRite grocery store anchors the center. Derek Zerfass and Scott Horner of Colliers represented the landlord, Chicago-based CenterPoint Properties, in the lease negotiations. The representative of the tenant was not disclosed.

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CaliforniaFinanceNews

BridgeCore Funds $2 Million Refinancing for Family Dollar-Occupied Property in Escondido, California

by Katie Sloan

Escondido, Calif. — BridgeCore has provided a $2 million bridge loan for the refinancing of a retail property located at 607 W. 9th Ave. in Escondido. The undisclosed borrower required a bridge loan to refinance a matured loan and to obtain cash-out funds to resolve a mechanic’s lien, pay-off delinquent property taxes and cover upgrades and renovations to two of the in-line units. Family Dollar occupies the retail property. BridgeCore funded the loan with a 6.5 percent pay-rate during the entire loan term, with the remaining interest accruing to loan pay-off …

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Gantry-Hawaii
FinanceHawaiiNews

Gantry Arranges $65 Million in Permanent Financing for Warehouse, Retail Portfolio in Hawaii

by Katie Sloan

Honolulu — Gantry has secured $65 million in permanent financing to recapitalize a portfolio located on Oahu. The two financed properties are Hanua Logistics Center, a recently completed 226,850-square-foot Class A warehouse facility, and Honolulu Design Center, an 80,000-square-foot retail center. Murphy Osborne of Gantry’s San Francisco office arranged the funding on behalf of the borrower, a private investor. Bank of Hawaii provided the financing, which features a 15-year term, including a significant interest-only period transitioning to 30-year amortization.

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