Melville, N.Y. — A&G Real Estate Partners is entertaining offers on 49 David’s Bridal leases throughout the country in its capacity as real estate advisor to the brand, which filed for Chapter 11 bankruptcy in April of this year. The stores range in size from roughly 5,000 to 15,000 square feet. Transactions must be presented for bankruptcy court approval by June 30. A&G additionally plans to hold an auction in July of a select group of David’s Bridal leases. “Second-generation space is in strong demand nationally for a variety of reasons …
Fairfield, Ohio — Northmarq has secured a $6.1 million loan for the refinancing of a four-building retail portfolio in Fairfield, roughly 25 miles north of Cincinnati. The portfolio, which totals 62,720 square feet across two shopping centers, was 99 percent leased at the time of financing. Built in 1987, Diplomat Village consists of three buildings totaling 50,650 square feet. Kemper Ponds Plaza, built in 2005, totals 12,070 square feet. Noah Juran of Northmarq arranged the fixed-rate, three-year loan with a local bank on behalf of the undisclosed borrower.
North Brunswick, N.J. — Marcus & Millichap has arranged the $4.4 million sale of Church Lane Plaza, a 21,080-square-foot retail property in North Brunswick, about 40 miles southwest of Manhattan. Built on 2.9 acres in 1991, Church Lane Plaza was 90 percent leased at the time of sale to tenants including Bagel Fresh, Brunswick US Cleaners, Karate School, F45 Fitness and Thai Lotus. Brent Hyldahl and Alan Cafiero of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a New Jersey-based limited liability company, in the transaction.
Chicago — SRS Real Estate Partners has brokered the $3 million sale of a single-tenant retail property located in Chicago. Wendy’s occupies the 4,031-square-foot building, which was built in 1983 and renovated in 2022, on a net-lease basis. Sean Lutz and Dan Elliot of SRS represented the seller, a California-based private investor, in the transaction. Bruce Lee and Hope Kim of New Star Realty represented the buyer, also a California-based private investor.
Dedham, Mass. — JLL Capital Markets has secured a $190 million loan for the refinancing of Legacy Place, a 675,000-square-foot shopping center located in the Boston suburb of Dedham. Whole Foods, Apple, L.L. Bean and Showcase Cinemas anchor the property. Other tenants at the center include Nike, Athleta, Industrious, Shake Shack, Lululemon, Sephora, Sweetgreen and Yard House. Brett Paulsrud, Henry Schaffer, Hugh Doherty, Chris Angelone and Zach Nitsche of JLL arranged the financing through a two-bank syndicate on behalf of the borrowers, WS Development and Nuveen Real Estate.
Midlothian, Va. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the $4.9 million sale of Deer Run Village, a 56,900-square-foot shopping center located in Midlothian, roughly 15 miles outside Richmond. Food Lion anchors the property, which was fully leased at the time of sale. Catharine Spangler and Danielle Beckstoffer of Thalhimer represented the undisclosed seller.
Milan Capital Management Receives $12.1 Million Refinancing for Mission Promenade in Metro San Diego
Oceanside, Calif. — Milan Capital Management has received a $12.1 million loan for the refinancing of Mission Promenade, a 105,700-square-foot retail center located in Oceanside, approximately 40 miles northwest of San Diego. Built in 1972 and renovated in 1999, the property was 97 percent leased at the time of financing, to tenants including El Super and dd’s Discounts. Jeff Sause and John Chun arranged the 10-year loan through a regional bank on behalf of the borrower.
Houston — Locally based brokerage firm Cypressbrook Co. has arranged the sale of Richmond Design Center, a 25,441-square-foot shopping center in Houston. According to LoopNet Inc., the property was built on 1.6 acres in 1958 and renovated in 2003. John Hornbuckle of Cypressbrook Co. and Rick Hazard of Realty Services Group represented the seller, America Equifinance Corp., in the transaction. Joe Foty of The Blue Ox Group represented the buyer, HRD Interests.
Austin, Texas — Foxtrot has announced that it will open a 6,000-square-foot store and café in Austin, marking the largest location for the brand and the second in the city. Scheduled to open June 5 at a property formerly occupied by an auto repair shop and grocer, the space will include a covered indoor-outdoor patio. Foxtrot currently operates 27 locations in Chicago; Washington, D.C.; Dallas and Austin, with plans for a third opening in Austin.
Oakland, Calif. — CBRE has arranged a $15 million loan for the refinancing of Lincoln Square Shopping Center in Oakland. Safeway anchors the property, which comprises three buildings with 14 tenant suites. Other tenants at the center include CVS/pharmacy, Peet’s Coffee, Jamba Juice and the UPS Store. Originally built in 1963, the property underwent extensive redevelopment in 2019. Shaun Moothart, Bruce Francis, Doug Birrell and Bob Ybarra of CBRE arranged the non-recourse, 10-year, interest-only loan on behalf of the borrower, a California-based private retail real estate operating company.