New York

Dior-Saks

New York City — Saks Global Holdings LLC, the owner of luxury retailers such as Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, has filed for voluntary Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas. The company secured a financing commitment of approximately $1.75 billion, comprising $1.5 billion from an ad hoc group of the company’s senior secured bondholders and roughly $240 million of incremental liquidity from its asset-based lenders. Saks Global says the financing package will strengthen its balance sheet and position …

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New York City — Newmark has arranged the $425 million sale of The Shops at Skyview, a 555,000-square-foot grocery-anchored retail center located in the Flushing neighborhood of Queens in New York City. Jordan Roeschlaub, Nick Scribani, John Caraviello and Tim Polglase of Newmark secured a $289 million acquisition loan through Mizuho on behalf of the buyers, a joint venture between Acadia Realty Trust and TPG Real Estate. Adam Spies, Adam Doneger, Conor Lalor and Ben Lushing, also of Newmark, represented the seller, Perform Properties, in the transaction. Anchored by BJ’s Wholesale …

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1300-franklin-garden-city-ny

Garden City, N.Y. — JLL Capital Markets has negotiated the sale of 1300 Franklin Ave., a 127,496-square-foot retail and medical office building in the Long Island community of Garden City. Originally built in the 1960s and renovated in 2007, the property comprises roughly 50,000 square feet of retail space and 50,000 square feet of medical office space, with approximately 27,000 square feet of vacant space. NYU Langone Health anchors the building, which was 78.5 percent leased at the time of sale. Other tenants include Walgreens, Cornell Medicine and Healthtrax. Jose Cruz …

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Chappaqua-Crossing

Chappaqua, N.Y. — CBRE has negotiated the $76.5 million sale of Chappaqua Crossing, a 120,986-square-foot shopping center located in New York’s Westchester County that is part of the redevelopment of the 114-acre former Reader’s Digest headquarters campus. Tenants at the center include Whole Foods, Life Time Fitness, Starbucks Coffee and Chase Bank. The property also features more than 500,000 square feet of medical and office space, 64 apartments and 91 luxury townhomes. Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s National Retail Partners represented the seller, Heitman, and procured the buyer, …

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Samanea New York

Westbury, N.Y. — Two new entertainment operators — Gatsby’s Board Game Café and I.FLY Trapeze — will open venues at Samanea New York, a 750,000-square-foot entertainment destination on Long Island. Gatsby’s is an interactive experience with a library of more than 400 games that are available to buy and/or play onsite. I.FLY Trapeze offers open-fly sessions, workshops, parties and corporate team-building events. Opening dates were not announced. Lesso Mall Development owns Samanea New York.

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Plaza 44

Poughkeepsie, N.Y. — Basis Investment Group has provided a $27.5 million bridge loan to refinance the existing debt of Plaza 44, a 168,713-square-foot, grocery-anchored neighborhood shopping center located north of New York City in Poughkeepsie. Capstone Realty was the borrower. Stop & Shop anchors the property, which houses a mix of other tenants such as Ross Dress for Less, Dollar Tree and KeyBank, as well as additional local businesses. Capstone plans to renovate the center and market the property for sale in the next two years. 

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Tops Friendly Markets

Lockport, N.Y. — Cleeman Realty Group has arranged the sale of a net-leased, single-tenant retail property located in Lockport, approximately 22 miles north of Buffalo. Tops Friendly Markets occupies the 55,000-square-foot building, which is situated on 5.6 acres. Michael Cleeman and Sam Seelenfreund of Cleeman Realty Group represented both the buyer and seller in the transaction.

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321 Starr Street

Brooklyn, N.Y. — Marcus & Millichap has negotiated the sale of 321 Starr Street, a 26,624-square-foot retail property located in the Brooklyn neighborhood of Bushwick, for $17.5 million. Renovated in 2017, the 10-unit retail property includes 7,000 square feet of rooftop space on the second floor, as well as 321 square feet of ground-floor outdoor seating. Tenants include MetroRock, 48 Cypress and New York Film Lab, along with a mix of food, beverage and specialty retailers. Shaun Riney, Michael Salvatico, Scott Plasky and Alexander Arustamanian of Marcus & Millichap represented …

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New York City — RD Management LLC has announced the formation of its new entity, RD Property LLC. RD Property comprises 50 real estate properties that span approximately 4 million square feet and features shopping centers, self-storage facilities, hotels and net lease properties across the U.S. The consolidation of RD Management is meant to streamline operations, enhance growth prospects and strengthen capital resources. Additionally with its formation, RD Property has closed on a $350 million loan and revolving credit facility that will provide the company with financial flexibility and liquidity to …

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Target

Sayville, N.Y. — SRS Real Estate Partners has negotiated the $20.8 million ground lease sale of a single-tenant retail property located in the Sayville neighborhood of Long Island. Target occupies the 145,000-square-foot property on an absolute triple-net, corporate-guaranteed lease with 14 years remaining. Situated across from The Shops at SunVet Mall, the Target store was built in 2014 on roughly 12 acres. Calvin Short of SRS Capital Markets and Jeff Christian of First Street represented the seller, a California-based private investor who had owned the asset for more than 20 years. …

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