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Finance

Beechnut Village
FinanceGrocery-anchoredInvestment salesNewsTexas

Marcus & Millichap Arranges Sale, Financing of 62,990-Square-Foot Retail Center in Houston

by Abby Cox

Houston — Marcus & Millichap has arranged the sale and financing of Beechnut Village, a 62,990-square-foot retail center located in Houston. The property — which was fully leased at the time of sale — features 15 tenants operating on a triple-net lease basis, including medical offices, discount retailers and food and beverage businesses. La Michoacana Meat Market anchors the center. Scott Abeel and Philip Levy of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller and procured the buyer, a local private investor, in the transaction. Jamie …

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FinanceGrocery-anchoredIllinoisNews

JLL Secures $41.7 Million Financing of Shopping Center in Wheaton, Illinois

by Abby Cox

Wheaton, Ill. — JLL Capital Markets has secured a $41.7 million financing of Danada Square West, a 314,819-square-foot grocery-anchored shopping center located in Wheaton, roughly 25 miles west of Chicago. DLC Management Corp. is the borrower. Constructed in 1988, the center — which was 92.7 percent leased at the time of sale — is anchored by Jewel-Osco. Other tenants at the property include T.J. Maxx, HomeGoods, Burlington, The Paper Store, Ulta Beauty and Five Below. Scott Aiese, Christopher Knight and Alex Staikos of JLL represented the borrower in arranging the …

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Company newsFinanceNewsTexas

Stratus Obtains $29.8 Million Refinancing Loan for Retail Property in Austin, Texas

by Abby Cox

Austin, Texas — Stratus Properties Inc. has obtained a $29.8 million loan to refinance Lantana Place, a newly-developed retail property located within Stratus’ mixed-use development project in the Barton Creek area of Austin. The new loan matures in February 2029. Lantana Place — which totals 99,379 square feet — is anchored by Moviehouse & Eatery and AC Hotel by Marriott. Additionally, the property features a mix of retail and restaurant tenants including Black Rock Coffee Bar, Cobalt Blue Salon and Orangetheory Fitness, among others.

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Taylor Square
FinanceNewsOhio

JLL Secures $43.6 Million Financing for Two Shopping Centers in Metro Columbus

by Abby Cox

Reynoldsburg and Dublin, Ohio — JLL Capital Markets has secured two loans totaling $43.6 million for the financing of shopping centers located in the Columbus suburbs of Ohio. DLC Management Corp. is the borrower. The properties include Taylor Square in Reynoldsburg and Tuttle Crossing in Dublin. Built in 2000 and renovated in 2023, Taylor Square totals 378,102 square feet. Walmart Supercenter anchors the 48.3-acre property. Other tenants at the center — which was 99.7 percent leased at the time of sale — include Marshalls, JOANN, Dollar Tree and Bath & …

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FinanceMixed-useNewsNorth Carolina

JLL Facilitates $191 Million Loan for Fenton Mixed-Use Development in Cary, North Carolina

by Abby Cox

Cary, N.C. — JLL Capital Markets has facilitated a $191 million mortgage loan for Fenton, a mixed-use development located in Cary, roughly 12 miles west of downtown Raleigh. The property includes 246,000 square feet of retail space, 183,000 square feet of office space and an apartment community — The Allison at Fenton — comprising 367 multifamily units. Chip Sykes and Kelsey Bawcombe of JLL secured the loan on behalf of the borrower, a partnership between Hines, Affinius Capital and Columbia Development. New York Life Real Estate Investors provided the mortgage financing.

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Cahaba Crossing
AlabamaFinanceGrocery-anchoredNews

CBRE Secures $15 Million Refinancing for Shopping Center in Birmingham, Alabama

by Abby Cox

Irondale, Ala. — CBRE has secured a $15 million loan to refinance Cahaba Crossing, a 67,874-square-foot shopping center located in the Birmingham suburb of Irondale. Construction of the property was completed in 2023. A 48,837-square-foot Publix supermarket anchors the property. The 9.8-acre property, which is fully leased, comprises 10 tenants including The UPS Store, Starbucks Coffee and Heartland Dental. Additionally, there is a 1.45-acre outparcel reserved for future development. Carmel, Indiana-based 40|86 Advisors provided the five-year fixed-rate, interest-only loan. Richard Henry, Mike Ryan, Brian Linnihan and JP Cordiero of CBRE …

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Valor Acres
DevelopmentFinanceMixed-useNewsOhio

BGL Real Estate Secures Financing for Mixed-Use Project in Brecksville, Ohio

by Abby Cox

Brecksville, Ohio — Brown Gibbons Lang & Co. (BGL) has secured development financing for the second phase of Valor Acres, a mixed-use project located in Brecksville, approximately fifteen miles south of Cleveland. BGL secured the financing on behalf of the developer and borrower, DiGeronimo Cos. in the transaction. Upon completion, the second phase will comprise 70,000 square feet of retail and entertainment space, 44,000 square feet of office space, 221 apartment units, a 700-space parking garage and an on-site safety station. Fifth Third Bank and First Commonwealth Bank provided the senior …

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JOANN
Company newsFinanceNew YorkNews

JOANN Files for Second Chapter 11 Bankruptcy

by Abby Cox

New York City — Fabrics and crafts retailer JOANN, which operates roughly 800 stores in 49 states, has filed for Chapter 11 bankruptcy protection, marking its second filing within a year. JOANN first filed for bankruptcy in March 2024. According to a statement issued by the company, JOANN has faced “significant and lasting challenges in the retail environment,” as well as “constrained inventory levels.” The retailer’s current debt totals $615 million, according to CNN. The company is now planning to sell all its assets, with Gordon Brothers Retail Partners — …

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The Markets at Town Center
FinanceFloridaGrocery-anchoredInvestment salesNews

Kimco Realty Acquires 254,000-Square-Foot Shopping Mall in Jacksonville, Florida

by Abby Cox

Jacksonville, Fla. — Kimco Realty has acquired The Markets at Town Center, a 254,000-square-foot shopping mall located in Jacksonville, for $108 million. Sprouts Farmers Market anchors the property, which was built in 2008. Other tenants at the center, which was 97 percent leased at the time of sale, include Ulta Beauty, Cooper’s Hawk Winery & Restaurant, Five Below, REI, J. Crew, Ballard Designs, Nordstrom Rack, DXL Big & Tall, Gen Korean BBQ House and Chipotle Mexican Grill. Kimco acquired the property through its Structured Investment Program, which provides mezzanine financing …

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Harbour Lake Plaza
FinanceGrocery-anchoredInvestment salesNewsSouth Carolina

Marcus & Millichap Arranges $8 Million Sale of Retail Center in Metro Charleston

by Abby Cox

Goose Creek, S.C. — Marcus & Millichap has arranged the $8 million sale of Harbour Lake Plaza, a 62,198-square-foot retail center located in Goose Creek, roughly 20 miles outside Charleston. Food Lion anchors the center, which occupies 51 percent of the property. The center was 97 percent leased at the time of sale to tenants including Rent-A-Center, Cricket Wireless and H&R Block. David Gant and Lori Schneider of Marcus & Millichap represented the seller, a private investor, in the transaction. Ani Paulson and Allyssa Paragano of The AP Group procured …

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