Clifton Park, N.Y. — Axiom Capital Corp. has arranged a $38.5 million loan for the acquisition of a retail center located in Clifton Park. Comprising six buildings located on five parcels, the property was fully leased at the time of financing to 64 tenants. The borrower was not disclosed.
Riverhead, N.Y. — JLL Capital Markets has arranged the sale of Riverhead Centre, a 395,000-square-foot retail center located on Long Island in Riverhead. ShopRite and The Home Depot anchor the property, which comprises nine buildings and was 99 percent leased at the time of sale. Other tenants include Best Buy, Petco, Michaels, DSW, Famous Footwear, Barnes & Noble, Ashley Home Store and IHOP. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Mark Belenky of JLL brokered the transaction on behalf of the seller, an entity doing business as AFL-CIO Building Investment …
Port Chester, N.Y. — Simone Development Cos. has signed three new tenants to Post Road Plaza in Port Chester. Together, the leases total more than 4,000 square feet. Nothing Bundt Cakes has signed a long-term lease for 1,760 square feet at the property, and Nailed It Spa and European Wax Center will occupy 1,000 and 1,534 square feet, respectively. Joanna Simone, Hannah Coyman and Rob Carinci of Simone negotiated leases on behalf of the ownership, alongside Scott Meshil and Karnit Mosberg of Royal Properties Inc. Sean Heneghan and Patrick Doyle …
New York City — Northmarq has arranged $22 million for the refinancing of Village Greens Shopping Center in New York City. Built in 1989, the 75,697-square-foot property is anchored by Key Food Supermarket, CVS/pharmacy and JP Morgan Chase Bank. Robert Delitsky and Dylan Hamer of Northmarq secured the permanent-fixed rate loan through Nationwide Life Insurance Co. on behalf of the borrower.
Yorktown Heights, N.Y. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the sale of The Shoppes at Jefferson Valley Mall, a 153,151-square-foot property located in Yorktown Heights. The four-suite building was 24.2 percent occupied at the time of sale. Built in 1983, The Shoppes at Jefferson Valley Mall is situated on 12 acres adjacent to Jefferson Valley Mall. 24 Hour Fitness is a tenant at the property, and Funtime Entertainment has a license to use 2,500 square feet of space within the building for storage. Joseph French, Jr. …
Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.
Hamburg, N.Y. — Cushman & Wakefield has arranged the sale of two adjacent retail centers comprising a total 416,544 square feet in Hamburg. Located at 4408 Milestrip Road, the first center, BJ’s Plaza, is anchored by BJ’s Wholesale Club and was fully leased to 10 tenants at the time of sale. The Home Depot anchors the second property, McKinley Milestrip, which is located at 4405 Milestrip Road and was 94 percent leased to 20 tenants at the time of sale. The centers comprise 176,045 and 240,499 square feet, respectively. Gary …
East Hampton, N.Y. — Cushman & Wakefield has brokered the $22 million sale of a two-story, 5,000-square-foot retail property in the Long Island community of East Hampton. Jordan Sutton, Robert Shapiro, Dan Abbondandolo and Victor Little of Cushman & Wakefield represented the sellers, two private investors, in the transaction. Luxury retailer Louis Vuitton Moët Hennessy acquired the property, which is currently leased to jewelry and accessories retailer Cartier.
New York City — Foot Locker will close more than 400 underperforming stores as part of its “Lace Up” plan, announced during the company’s 2023 Investor Day call. According to Tony Aversa, senior vice president of global store development, the move is part of a strategy to manage portfolio risk by way of strategic closures. The company currently operates 2,700 locations, which will be reduced to approximately 2,400 by 2026, a number which also reflects the planned addition of stores in new formats. Despite the closures, Foot Locker intends to …
White Plains, N.Y. — CBRE has brokered the $112 million sale of The Source, a mixed-use development located in White Plains. Whole Foods Market anchors the property, which comprises 262,000 square feet and was 99 percent leased at the time of sale. Other tenants include Dick’s Sporting Goods, Raymour & Flanigan and The Cheesecake Factory. Jeffrey Dunne, David Gavin, Steve Bardsley and Travis Langer of CBRE represented the seller, which the Wall Street Journal reports was UBS Realty Investors LLC, and procured the buyer in the transaction.
