Fayetteville, Ark. — Slim Chickens has signed an agreement for 14 new locations in Michigan. Franchisee Nathan Finney of Finney Hospitality Group (FHG) will develop the restaurants, which will be located in Lansing, Grand Rapids, Kalamazoo and other markets throughout the state.
Nashville, Tenn. —Portman has signed two new food-and-beverage tenants to the 17,000-square-foot commercial space at Starling, an apartment tower currently under development in Nashville. The new tenants include Retrograde Coffee, a neighborhood coffee shop, and Social Cantina, a modern Mexican restaurant and tequila bar. The coffee shop will be the first café to front the Cumberland River Greenway, which Portman is expanding to connect directly to Starling tower. The Social Cantina location will feature an outdoor patio.
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.
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.
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.
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.
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.
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.
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.
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.
