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EntertainmentNew YorkNews

Newmark Secures $90 Million Refinancing of Brooklyn Shopping Center

by Hayden Spiess

New York City — Newmark has secured a $90 million loan for the refinancing of a 181,000-square-foot shopping center located in Brooklyn in New York City. The center is leased to tenants including Whole Foods Market, Equinox, Chipotle Mexican Grill, Citibank and T-Mobile. Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, Benjamin Kroll and Alexander Saslove of Newmark arranged the loan through Apollo Global Management on behalf of the borrower, a joint venture between Aurora Capital Associates, Midtown Equities and ACHS Management.

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FloridaGrocery-anchoredInvestment salesNews

Legacy Arranges Sale of 61,220-Square-Foot Shopping Center in Florida

by Hayden Spiess

Leesburg, Fla. — Legacy Realty Group Advisors has arranged the sale of Lake Harris Square, a 61,220-square-foot shopping center located in Leesburg. Winn Dixie anchors the property. Daniel Baruch and Ari Warshaw of Legacy arranged the $6.3 million transaction, with Robert Monahan of Island Associates Real Estate and Will Bingham and Matthew Bingham of Bingham Realty Inc. 

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Grocery-anchoredInvestment salesMassachusettsNews

Horvath & Tremblay Negotiates $6.3 Million Sale of Shopping Center in Pittsfield, Massachusetts

by Hayden Spiess

Pittsfield, Mass. — Horvath & Tremblay has negotiated the $6.3 million sale of Del Alba Plaza, a 72,119-square-foot shopping center in Pittsfield. A 61,935-square-foot Stop & Shop anchors the property, which also comprises a 2,000-square-foot fuel station and a three-tenant, 8,184-square-foot inline building. The center also features a pad site that can support the development of a 3,500-square-foot building. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented both the buyer and seller in the transaction.

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Investment salesNewsNorth Carolina

Marcus & Millichap Brokers $5 Million Sale of Retail Center in Kinston, North Carolina

by Hayden Spiess

Kinston, N.C. — Marcus & Millichap has brokered the $5 million sale of Westgate Plaza, a 51,213-square-foot retail center located in Kinston.  Built in 1988, the property is anchored by Harbor Freight Tools, Badcock Furniture and PetSense. Andrew Margulies and Harrison Creason of Marcus & Millichap arranged the sale on behalf of the seller. 

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EntertainmentLeasingNewsTexas

Larks Entertainment Signs 25,000-Square-Foot Lease in Fairview, Texas

by Hayden Spiess

Fairview, Texas — Larks Entertainment has signed a 25,000-square-foot lease at Fairview Town Center in Fairview, with plans to open an entertainment center, cocktail bar and restaurant at the property. The venue is scheduled to open in December. Joseph Williams of The Woodmont Co. represented the tenant in the leasing negotiations, and Walt Davis of Lincoln Property Co. represented the landlord. 

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GeorgiaGrocery-anchoredInvestment salesNews

JLL Arranges Sale of 62,558-Square-Foot Shopping Center Near Atlanta

by Hayden Spiess

Sandy Springs, Ga. — JLL Capital Markets has arranged the sale of Trowbridge Crossing, a 62,558-square-foot shopping center located in Sandy Springs, approximately 17 miles outside Atlanta. Publix anchors the property. Other tenants include T-Mobile, North Springs Animal Clinic, Erawan Organic Thai, Domino’s, USPS, Luxy Nails, Hong Kong City and UPS. Jim Hamilton, Brad Buchanan, Andrew Michols and Anton Serafini of JLL represented the seller, InvenTrust Properties Corp. FrostPoint Capital acquired the center for an undisclosed price. 

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FloridaInvestment salesNews

Azora Purchases Retail Building in Florida for $16 Million

by Hayden Spiess

Miami Beach, Fla. — Azora has purchased an 18,000-square-foot retail building in Miami Beach for $16 million. Azora acquired the property, which was fully leased at the time of sale, through its subsidiary Azora Exan. The buyer plans to maintain the current operation of the building, with gradual increases to rental rates. 

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Investment salesNet leaseNewsWisconsin

Marcus & Millichap Arranges $3.1 Million Sale of CVS-Occupied Property in Milwaukee

by Hayden Spiess

Milwaukee — Marcus & Millichap has arranged the $3.1 million sale of a 12,900-square-foot retail property in Milwaukee. CVS/pharmacy occupies the building, which was constructed in 2007, on a net-lease basis. Jeff Rowlett of Marcus & Millichap’s The Rowlett Group represented the seller, a local investor group. The Rowlett Group also procured the buyer, a Delaware-based REIT. 

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CaliforniaInvestment salesNews

Hanley Brokers $2.9 Million Sale of Single-Tenant Property in Palm Desert, California

by Hayden Spiess

Palm Desert, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $2.9 million sale of a single-tenant property located in Palm Desert. Bank of America occupies the 3,515-square-foot building, which was built in 2015. Bill Asher and Jeff Lefko of Hanley represented the seller, an undisclosed private investor. Tyler Rollema of The Klabin Co. represented the buyer. 

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IllinoisLeasingNews

Four Tenants Sign Leases Totaling 15,751 Square Feet at Hawthorn in Metro Chicago

by Hayden Spiess

Vernon Hills Ill. — Four new tenants have signed leases totaling 15,751 square feet at Hawthorn, a retail center located in Vernon Hills, roughly 37 miles outside Chicago. Calla Lily and CL Kids, Exclusive Heat and Woody’s will open at the property in October, occupying 6,553; 5,055; and 3,357 square feet, respectively. Gemma Natural Stone & Jewelry will open a 786-square-foot store in November. 

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