Union, N.J. — All 120 Buy Buy Baby stores will close following the bankruptcy of its parent company, Bed Bath & Beyond, reports CNBC. Bed Bath & Beyond, which filed for Chapter 11 bankruptcy in April, previously planned to sell the chain, with brand management firm Go Global Retail interested in acquiring Buy Buy Baby and continuing to run its stores. Instead, Dream on Me Industries has purchased the brand’s trademark and digital assets for $15.5 million. Buy Buy Baby’s website reports that though stores currently remain open, they have “made the difficult …
Deer Park, Texas — Northmarq has brokered the sale of The Shoppes at Town Square, an 11,692-square-foot retail strip center in Deer Park, a suburb of Houston. The center was leased to five tenants at the time of sale. Riley Sharman of Northmarq represented the Florida-based seller in the deal. The buyer was a local 1031 exchange investor. Peters and Michael Borden of Northmarq arranged acquisition financing.
New York City — Progress Capital has secured a $42.5 million loan for the refinancing of Bridgemarket, a 100,000-square-foot retail property located in Manhattan. Tenants at the property include Gustavino’s, T.J. Maxx, Ship Essentials and Trader Joe’s. Brad Domenico of Progress Capital arranged the loan on behalf of the borrower, MADD Equities, through an undisclosed lender.
Washington, Utah — Gantry has arranged a $15.2 million loan for the acquisition of Cotton Mill II, a retail center located in Washington, a suburb of St. George. Situated on 18.2 acres, the property comprises an inline shopping center and two outparcel ground leases totaling 165,000 square feet, with an additional pad that has capacity for a 15,000-square-foot multi-tenant inline building. Tenants at the center include Kohl’s, Natural Grocers, Ross Dress For Less, JOANN Fabrics, Dollar Tree, Red robin and Cache Valley Bank. Tony Kaufmann and Erinn Cooke of Gantry secured …
Arlington, Texas — Largo Capital has arranged a $2.8 million loan for the acquisition of a single-tenant retail property located in Arlington. A car wash fully occupies the newly constructed property on a 20-year lease. The borrower was an undisclosed private investor based in the Northeast.
Protective Life Provides $10.5 Million Refinancing for Shopping Center in New Bedford, Massachusetts
New Bedford, Mass. — Protective Life, the Alabama-based holding company of Protective Life Insurance Co., has provided a $10.5 million refinancing for Rockdale Plaza, a 100,015-square-foot shopping center located in New Bedford. Stop & Shop anchors the center. The borrower, Yale Realty Services Corp., acquired the property in 1997.
Shelton, Conn. — GreenLake Asset Management LLC has provided a $34.4 million loan for the refinancing and construction of Fount Square, a retail center currently underway in Shelton. Development at the property previously halted due to construction liens and partnership complications. The undisclosed borrower has used the loan to settle outstanding financing and more than 60 vendor liens, as well as complete a partnership buyout and also plans to use the funding to complete the project. Tenants at the property will include Chick-fil-A, Panera Bread and Taco Bell.
Washington, D.C. — Tishman Speyer has secured a $150 million construction loan to fund the mixed-use redevelopment of Mazza Gallerie, a three-story shopping mall in Washington, D.C.’s Friendship Heights neighborhood. RBC Capital Markets provided the financing. Upon completion, the property will feature 320 rental apartments and 90,000 square feet of retail space, including 20,000 square feet of new ground-level retail space. Tishman Speyer will maintain the mall’s 70,000-square-foot retail concourse, which will be anchored by T.J. Maxx. The redevelopment will also maintain over 800 parking spots across four below-grade levels. …
Huntingdon Valley, Pa. —Prestige Group has arranged $42 million for the refinancing of The Marketplace at Huntingdon Valley, a 259,000-square-foot shopping center located on the northwestern outskirts of Philadelphia. Weis Markets and LA Fitness anchor the center, which was built on 49 acres in 1993. Other tenants include Starbucks Coffee, Fine Wine & Good Spirits, Bertucci’s, Rite Aid, Dunkin’ GNC and Hair Cuttery. Bob Cohen of Prestige Group arranged the financing, which consisted of a $25 million senior loan and a $17 million junior loan, through two undisclosed regional banks …
San Francisco — Westfield plans to pull out of San Francisco and surrender the San Francisco Centre mall to the property’s lender, reports CNN. The decision follows the closure of stores including Banana Republic and Nordstrom. A spokesperson for Westfield previously attributed the closure of the latter to “unsafe conditions for customers, retailers and employees.” According to SFGATE, Westfield and its partner, Brookfield Properties, have ceased loan payments on the mall. In a statement provided to the publication, Westfield noted that it has operated San Francisco Centre for more than …