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Josh Williams retail leasing, development and sales activity
DevelopmentEconomic DevelopmentEntertainmentFeaturesFinanceIndustry ContentInvestment salesLeasingRetail Insight

Physical Retail Focuses on Quality, Customers

by Sarah Daniels

Josh Williams, senior vice president and director of investments out of Cullinan Properties’ Houston office, has been closely monitoring the leasing, development and sales activity for brick and mortar since our national emergence from the pandemic began. Below are the trends he sees, and where he believes this market is headed. Retail Insight: What would you say is the overarching trend in retail real estate right now? Williams: As we emerge from the pandemic, we are seeing a wide variety of retail assets returning to pre-2020 activity levels, all with one overarching …

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Wekiva-Riverwalk
DevelopmentFinanceFloridaNews

Trez Capital Provides $11.4 Million Refinancing for Wekiva Riverwalk in Suburban Orlando

by Katie Sloan

Apopka, Fla. — Trez Capital has provided an $11.4 million refinancing for Wekiva Riverwalk, a 235,390-square-foot shopping center located at 2271 E. Semoran Blvd. in the Orlando suburb of Apopka. The center was fully leased at the time of financing to tenants including Petco, Ross Dress for Less, Marshalls, Five Below and Bed Bath & Beyond. A portion of the financing will be used to build out space for two new tenants — Sprouts Farmers Market and Ulta Beauty — which are set to open in June, and to fund …

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FinanceNew JerseyNews

JLL Arranges $21.5 Million Loan for Refinancing of Northern New Jersey Shopping Center

by Katie Sloan

Sparta, N.J. — JLL has arranged a $21.5 million loan for the refinancing of Sparta Town Center, an 87,984-square-foot shopping center in Northern New Jersey. Anchored by Stop & Shop, the center was fully leased at the time of the loan closing to tenants including Lakeland Bank, Supercuts, Sports Care Institute, Spavia, Mathnasium and Anthony Franco’s Pizza. Thomas Didio, Thomas Didio Jr. and Salvatore Buzzerio of JLL arranged the 10-year, fixed-rate loan through Aegon Asset Management on behalf of the borrower, an affiliate of locally based developer Hekemian & Co. …

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Necessity Retail open-air and single-tenant service properties
FeaturesFinanceIndustry ContentLeasingRetail InsightRetailers

America’s Shopping Patterns Turn Suburban

by Sarah Daniels

The Necessity Retail REIT, Inc. has closed on the acquisition of 77 open-air shopping centers and two single-tenant service retail properties as part of a previously announced 81-property, $1.3 billion portfolio acquisition. A strategic rebranding in February from American Finance Trust reflects a continuing focus on the shopping habits of today’s consumer, says Michael Weil, CEO of The Necessity Retail REIT, Inc. “Where America Shops.” And where America shops, according to Weil, is in the suburbs. “Whether they’re on their way home from work or taking the kids to school, …

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2017_0831_ThompsonVillage_BLDG-1.pdf
CaliforniaDevelopmentFinanceNews

Joint Venture Receives $39.4 Million Construction Loan for Shopping Center in French Valley, California

by Katie Sloan

French Valley, Calif. — Marcus & Millichap Capital Corp. (MMCC) has secured $39.4 million in construction financing for French Valley Marketplace, a grocery-anchored shopping center development in French Valley. The non-recourse loan will provide funds to complete the horizontal and vertical construction of the project. A partnership between Trinity Investors and Halftery Development Co. are leading the fully entitled, 22-acre project. Current tenants include Grocery Outlet, Rite Aid, EoS Fitness, McDonald’s, AutoZone and 7-Eleven. Brandon Wilhite of MMCC and Sunny Sajnani and Todd McNeill of Institutional Property Advisors, a division …

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MetroGroup-San-Diego
CaliforniaFinanceNews

MetroGroup Secures $18.5 Million Financing for 56,173-Square-Foot Retail Center in San Diego

by Katie Sloan

San Diego — MetroGroup Realty Finance has secured $18.5 million in financing for a 56,173-square-foot retail center located in San Diego. The undisclosed borrower developed the property in two phases in 2002 and 2013. The financing features a maximum loan-to-value of 60 percent for 10 years with a 30-year amortization schedule. Tenants at the property at the time of financing included Subway, several service and fitness tenants, and a service station and car wash. 

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Meridian retail
FinanceIdahoNews

PSRS Secures $4.6 Million Refinancing for Two Retail Properties in Metro Boise

by Julia Sanders

Meridian, Idaho — PSRS has secured a $4.6 million refinancing for Gramercy and Mason Creek Retail, two retail properties in Meridian, about 10 miles from Boise. Kostas Kavayiotidis and Jacob Lee of PSRS arranged the 65 percent loan-to-value, non-recourse loan on behalf of an undisclosed borrower. The financing features a 10-year term and 30-year amortization schedule. The properties consist of four retail buildings featuring 14 units across 27,022 square feet of space. All buildings were fully occupied at the time of financing by a mix of restaurants, local and national …

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Villages
FinanceFloridaNews

Marcus & Millichap Arranges $6.8 Million Acquisition Financing for Retail Property in Panama City Beach, Florida

by Julia Sanders

Panama City Beach, Fla. — Marcus & Millichap Capital Corp. has arranged $6.8 million in acquisition financing for Villages of Grand Panama, a 48,000-square-foot retail property located at 1105 Hutchinson Blvd. in Panama City Beach. Garrett Fierstein of Marcus & Millichap secured the 10-year, fixed-rate loan, which features a 70 percent loan-to-value ratio and an interest rate of 3.95 percent. The 19-tenant property sits on 5.1 acres of land and is occupied by an array of tenants including medical, real estate and professional services uses, as well as two restaurants.

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Bed Bath & Beyond
FinanceFloridaNews

Concord Summit Capital Secures $16 Million Refinancing for Shopping Center in Delray Beach, Florida

by Julia Sanders

Delray Beach, Fla. — Concord Summit Capital LLC has secured a $16 million refinancing for Bed Bath & Beyond Plaza, a shopping center in Delray Beach. Justin Neelis and Daniel Rojo of Concord sourced the non-recourse financing through Seven Hills Realty Trust on behalf of the borrower, Berta Management. The bridge loan will be used to construct a new Starbucks Coffee outparcel, provide for capital improvements and pay off existing debt. Bed Bath & Beyond Plaza was 86 percent leased at the time of financing to Bed Bath & Beyond, …

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Fresh Market Village
FinanceFloridaNews

Northmarq Secures $16.8 Million Acquisition Loan for Grocery-Anchored Center in Metro Palm Beach

by Julia Sanders

Jupiter, Fla. — Northmarq has secured $16.8 million in acquisition financing for Fresh Market Village, a 55,046-square-foot, grocery-anchored retail property in Jupiter, about 19 miles from Palm Beach. Daniel Karp of Northmarq arranged the financing, which included a 10-year term with three years of interest-only payments followed by a 30-year amortization schedule. Northmarq secured the permanent, fixed-rate loan on behalf of the undisclosed borrower through its relationship with an unnamed life insurance company. Built in 1989 and last renovated in 2014, the property is anchored by The Fresh Market.

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