Manhasset, N.Y. — Retailers have signed new leases totaling 50,000 square feet at The Gate at Manhasset, a shopping center located in Manhasset on Long Island. New tenants at the property, which is now fully leased, include Greenwich Furniture and Design, Saatva, Arc’Teryx, Natuzzi Italia, Lucid, Sephora and Vuori. Olshan Properties is the landlord.
Camp Hill, Pa. — A&G Real Estate Partners will market 79 Rite Aid store leases for sale, in its capacity as real estate advisor to the company, pending approval by the U.S. Bankruptcy Court for the District of New Jersey. Part of Rite Aid’s financial restructuring process, this marks the third tranche of leases to be sold and follows a set of 92 store leases that became available in November. Ranging from 5,502 to 31,468 square feet, the leases are located in 11 states, including California, Connecticut, Maryland, Michigan, New Jersey, …
Newport Beach, Calif. — California-based Mountain Mike’s Pizza has signed a franchise deal for the development of 10 restaurants in Washington, marking the brand’s entrance into the state. Locations will include Arlington, Bellevue, Bellingham, Burlington, Kirkland, Lake Stevens, Lynwood, Marysville, Mill Creek, Northgate and Redmond, with the first opening scheduled for next year. Franchisees Gurjot and Yashraj Thind will develop and operate the restaurants.
Allentown, Pa. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the $17.8 million sale of Dorneyville Shopping Center, a 101,651-square-foot retail center located in Allentown. Aldi anchors the property, which was 86 percent leased at the time of sale. Brad Nathanson and JP Colussi of IPA represented the seller, Joshi Hotel Group, in the transaction. LS Property acquired the center.
Miami —Eight new tenants have signed leases at River Landing Shops & Residences, a mixed-use development featuring 360,000 square feet of commercial space in Miami. Claire’s has opened an 870-square-foot store, and Ceci Spa Hair and Nails and Divine Lash have both opened in 1,030-square-foot spaces. Additionally, Miami Optical, Suite Svn, Anything is Everything and White Coat Beauty now occupy 1,200; 5,805; 2,000; and 1,078 square feet, respectively. Carrot Express has also signed a 2,012-square-foot lease at the property. Urban-X Group is the developer and landlord. Retail space at the development …
Philadelphia —Matthews Real Estate Investment Services has arranged the $5.2 million sale of located in Philadelphia. Built in 2015 and situated on two acres, the property comprises 10,640 square feet. The center was fully occupied by Rise Dispensary and Fine Wine & Good Spirits at the time of sale. Alexander Machado, Daniel Gonzalez, Robert Goldberg and Ben Snyder of Matthews brokered the transaction.
Commack, N.Y. —Voya Investment Management has provided $37.5 million in bridge financing for Mayfair Shopping Center, a 221,000-square-foot retail property located in the Long Island community of Commack. Tenants at the center, which is situated on 15 acres, include Lidl, Planet Fitness and PGA Superstore. Andrew Stewart and Allison Villamagna of Cronheim Mortgage arranged the three-year loan on behalf of the borrower, The Livingston Group. A portion of the proceeds will be used to fund capital improvements and additional leasing costs.
Thousand Oaks, Calif. — NewMark Merrill Cos. has acquired a 172,008-square-foot retail center located in Thousand Oaks. Renamed the Collection at Janss Marketplace, the property was 60 percent leased at the time of sale. NewMark acquired the center from Seritage Retail Group for an undisclosed price. Tenants at the property, which was originally built as a multi-story Sears department store, include Dave & Buster’s, DSW and Nordstrom Rack. The center shares parking and access points with the adjacent Janss Marketplace, a 458,000-square-foot shopping center. Sandy Sigal, Jim Patton, Brad Pearl, Sandra …
Lutz, Fla. — SRS Real Estate Partners has arranged the $13.6 million sale of a 42,311-square-foot single-tenant retail property in Lutz. EoS Fitness occupies the building on a 15-year triple-net lease. Situated on 3.9 acres, the property is located within Cypress Ranch, a 164-acre mixed-use development. Upon completion, Cypress Ranch will feature 11 freestanding retail parcels. Tenants at the parcels will include Chick-fil-A, ALDI and Panda Express. Patrick Nutt and William Wamble of SRS represented the seller, Barclay Group. A California-based buyer acquired the property in a 1031-exchange transaction.
Houston and Frisco, Texas — Jewelry retailer Tanishq has opened two new stores in Texas totaling 8,800 square feet. The stores in Houston and Frisco comprise 3,800 and 5,000 square feet, respectively, and mark the second and third locations in the country for the brand. Tanishq also opened a flagship store in New Jersey in January.
