Westbury, N.Y. — Northmarq has arranged the $80 million refinancing of Roosevelt Raceway Center, a 428,483-square-foot shopping center located in the Long Island community of Westbury. The center, which sits on a 48-acre site less than a mile from Roosevelt Field Mall, houses tenants such as The Home Depot, Food Bazaar Supermarket, David’s Bridal and PGA Tour Superstore. Robert Delitsky and Charles Cotsalas of Northmarq arranged the fixed-rate loan through a regional bank on behalf of an undisclosed borrower.
Huntington, N.Y. — Four new tenants are set to open at Huntington Shopping Center, a 21-acre retail center located on Long Island. Federal Realty Investment Trust has arranged leases with The Container Store, Burger Village, Love Sac and Just Salad as part of a $75 million redevelopment currently underway at the property. The Container Store will occupy 15,676 square feet adjacent to Whole Foods Market, which is under construction. Burger Village and Just Salad will lease 2,756 square feet and 2,382 square feet, respectively. Furniture retailer Love Sac will open …
The New York City retail market is currently functioning like an episode of The Price Is Right. Developers, investors, brokers and operators are all trying to attach fair values to rents and sales prices for spaces of all sizes and submarkets. But after a tumultuous period marked by a global pandemic and record inflation, followed by a string of severe interest rate hikes, accurately assigning those numbers is easier said than done — at least in some submarkets. According to data from JLL, at the end of the third quarter, the …
New York City — Barnes & Noble will open more than 30 new stores next year, the company has announced. A location at Atlantic Avenue in Brooklyn is scheduled to be the first of the new bookstores in 2023. In 2022, the company opened more new locations than it had in any year since 2009. Barnes & Noble attributes the growth to a “reading renaissance.”
New York City — Whole Foods Market will open a 42,000-square-foot store in the One Wall Street building at 66 Broadway in New York City. Opening Jan. 11, the location will include a specialty cheesemaker and artisan department, seafood counter, meat counter, prepared foods section, full-service coffee bar, bakery and an extensive selection of craft beers. The store will also feature over 1,000 local items curated by John Lawson of Whole Foods and an Art Deco-inspired design.
New Hyde Park and New York City, N.Y. — Legacy Realty Group Advisors LLC, a commercial real estate brokerage with offices in New York, has brokered the sale of 146 stores in the Southeast leased to Dollar General. The seller, a privately held real estate developer, sold the portfolio to the buyer, a net-lease REIT, for approximately $200 million. Both parties requested anonymity. Jacob Baruch and Daniel Baruch of Legacy Realty Group represented both the buyer and seller in the off-market transaction.
New York City — Urbanspace has opened Urbanspace Union Square, a 10,000-square-foot food hall in the Union Square neighborhood of New York City. Featuring 13 food-and-beverage concepts, the space is located on the ground floor of Zero Irving, a new mixed-use office building recently completed by RAL Development. Vendors include Summer Salt, Twenty One Grains, Kid Brother Pizza, Pita Yeero, Plant Junkie, Goat Café, Bao by Kaya, Bobwhite Counter, Playa Bowls, Wafels & Dinges, Top Hops, Casa Toscana and GoFish. Urbanspace Union Square marks the fifth New York City food …
Huntington, N.Y. — Three new tenants will join Huntington Commons, a retail center located on Long Island. CycleBar, GOLFTEC and iStretchPlus will lease a total 7,299 square feet at the property, which is currently undergoing redevelopment. Joining a soon-to-open ShopRite and newly relocated and updated Marshalls, the tenants will backfill a space previously occupied by Outback Steakhouse. Dan Glazer of Ripco Real Estate represented the landlord, Urban Edge Properties, in the negotiations. Glazer also represented CycleBa. Faronn Roboff of Royal Properties Inc. represented GOLFTEC.
New York, N.Y. — Adidas has signed a 30,639-square-foot retail lease renewal for its flagship store at 610 Broadway in Manhattan’s SoHo neighborhood. The sportswear giant has committed to the three-story space for an additional 10 years. The six-story building was originally built in 2004 and predominantly houses office space. JLL represented the landlord, LaSalle Investment Management, in the lease negotiations. Adidas was represented internally.
New York City — Legacy Realty Group Advisors LLC has arranged the sale of a portfolio comprising 37 Dollar General-occupied stores located in the Southeast. An undisclosed net-lease REIT acquired the properties from a privately held real estate developer for $53 million. Jacob Baruch and Daniel Baruch of Legacy Realty represented both parties in the transaction. Legacy Realty is a commercial real estate advisory firm based out of New York that specializes in off-market transactions across the United States.