Albuquerque, N.M. — Ariel Property Advisors has arranged a $5.5 million loan for the refinancing of Guadalupe Plaza, an 87,000-square-foot retail center located in Albuquerque. Matt Swerdlow, Matthew Dzbanek and Rhea Vivek secured the 15-year refinancing on behalf of the borrower, a New Jersey-based investor. The loan features one year of interest-only payments and a 30-year amortization with no prepayment penalty.
Providence, R.I. — Entertainment concept Level99 has opened a new, 40,000-square-foot venue at Providence Place in Providence. Comprising 43 rooms, the facility offers interactive challenges as well as a restaurant, Night Shift Brewing Kitchen & Tap. Investment vehicle Act III Holdings, led by Panera Bread founder Ron Shaich, backs Level99. Brookfield Properties is the landlord at Providence Place.
Fredericksburg, Va. — Tropical Smoothie Cafe has signed a 1,500-square-foot, seven-year lease in Fredericksburg, roughly 50 miles outside Washington, D.C. The new store will be situated within Harrison Crossing Shopping Center, which is anchored by Giant Food, The Home Depot and Petco. Divaris Real Estate represented the landlord in the lease negotiations. Tropical Smoothie Cafe currently operates 1,150 restaurants throughout the U.S.
Surprise, Ariz. — A joint venture between GTIS Partners and Clyde Capital has released plans for Asante Trails, a $250 million mixed-use project in Surprise, a suburb of Phoenix. The development will feature a build-to-rent community, retail space and a medical facility, all of which will be built across 90 acres of land. In conjunction with the land acquisition, GTIS and Clyde sold 20 acres within the project site to HonorHealth, one of Arizona’s largest hospital systems, to develop the medical facility. Additionally, 45 acres will be allocated to a joint …
Imperial Beach, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $5.7 million sale of a single-tenant property located in Imperial Beach, roughly 15 miles outside San Diego. Raising Cane’s Chicken Fingers occupies the building, which is situated on a 0.7-acre pad site. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, an entity doing business as Palm Avenue 111 Partners LLC, in the 1031, all-cash transaction. Scott Ketchum, a Newport Beach-based broker, represented the buyer, a family trust.
Wilmington, Del. — Aldi has signed a 10-year, 33,262-square-foot lease in Wilmington. The Germany-based grocer will occupy a property situated on 3.1 acres. Jim O’Hara and Neil Killian of NAI Emory Hill Real Estate Services represented the landlord, LBD Wilmington, in the lease negotiations. Jason Block of MCS represented Aldi.
Mesa, Ariz. — Black Rock Coffee Bar will open a 2,000-square-foot store in Mesa. Founded in 2008, the brand currently operates in 125 locations throughout the U.S. Scheduled to open Jan. 26, the new shop will offer smoothies, teas and energy drinks, in addition to coffee.
New York City — Global luxury group Kering has acquired a multi-level retail property at 715-717 Fifth Ave. in New York City for $963 million. The Paris-based company manages the development of a number of major fashion houses including Gucci, Saint Laurent, Balenciaga and Alexander McQueen. The 115,000-square-foot space spans multiple levels at the base of the Corning Glass Building, a 28-story office tower developed in 1959. Rival fashion houses Dolce & Gabbana and Armani currently occupy the space. The Armani lease at the property is up in a few months, …
New York City — Retailer Macy’s has rejected a $5.8 billion buyout offer from Arkhouse Management Co. and Brigade Capital Management. In December 2023, the investor group submitted a bid to acquire the outstanding shares of the company not already owned by Arkhouse and Brigade for $21 per share in cash. The Macy’s board of directors has since determined “not to enter into a non-disclosure agreement or provide any due diligence information to Arkhouse and Brigade,” according to a press release from the company. A letter to the would-be buyers cited …
Oakland Park, Fla. — Flying Horse Investments (FHI) has acquired Oakland Park Plaza, a 21,570-square-foot retail center located in Oakland Park in metro Fort Lauderdale. FHI plans to implement a $1 million renovation and reposition the property over the next eighteen months and has hired Pegasus Asset Management to implement its business plan. Daniel Soloman of Katz & Associates will manage leasing at the center. Elon Gerberg of SVN represented the seller in the transaction.
