Lafayette, Ind. — Marcus & Millichap has brokered the $6.5 million sale of Eastway Plaza in Lafayette, roughly 63 miles northwest of Indianapolis. The 72,000-square-foot retail center is located on Sagamore Parkway. Built in the late 1980s, the property is home to 29 tenants. Jordan Klink of Marcus & Millichap represented the seller, Southmore Square LP, a limited partnership based in Delaware. Klink also procured the buyer, Churchyard LLC, a limited liability company based in Indiana.
Novi, Mich. — Burlington has signed a 25,755-square-foot retail lease to open a new store at West Oaks shopping center in Novi, approximately 30 miles northwest of Detroit. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, RPT Realty. Brad Gersham of GP Rep Services represented the tenant. Anchor tenants at West Oaks include Kohl’s, Bob’s Furniture and Gardner White.
Orland Park, Ill. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $6.6 million loan for the acquisition of a retail portfolio in the Chicago suburb of Orland Park. The portfolio spans 20,732 square feet and is home to tenants including Chipotle Mexican Grill, Panera Bread, Smashburger, Raising Cane’s and BJ’s Brewhouse. Dean Giannakopoulos, Frank Montalto and Matthew Smego of MMCC arranged the 10-year loan, which features a fixed interest rate of 4.65 percent. Sean Sharko and Austin Weisenbeck of Marcus & Millichap brokered the transaction. An undisclosed lender …
Nashville, Tenn. — Global real estate investment firm Northwood Investors LLC has acquired Fifth + Broadway, a newly developed mixed-use project in Nashville. The purchase price was $715 million, according to the Nashville Post. Brookfield Properties, which developed and operated the asset, completed construction in 2021. Northwood purchased the property in its entirety, including the retail portion, 501 Commerce office tower and The Place residences, from a subsidiary of Brookfield. Fifth + Broadway is one of the largest single-phase mixed-use developments in the history of the city and the state …
Lexington, Ky. — Cronheim Mortgage has originated an $8 million permanent loan for Man O’ War Place, a 174,638-square-foot shopping center in Lexington. Dev Morris and Andrew Stewart of Cronheim arranged the financing through American United Life Insurance Co. on behalf of the borrower, an affiliate of Equity Management. Situated about four miles south of the University of Kentucky, Man O’ War Place was 95 percent leased at the time of sale to tenants including Kroger Marketplace, Feeders Supply, Lexington Urgent Care, Hooters, Edible Arrangements, Bright Tiger Dental, The Little …
Lutz, Fla. — SRS Real Estate Partners has arranged the sale of a 4,854-square-foot, single-tenant retail building in Lutz, approximately 15 miles north of Tampa. Chick-fil-A occupies the property via a ground lease and plans to open next month. Patrick Nutt and William Wamble of SRS represented the seller, Ferber Development, in the $2.7 million transaction. A private Florida-based investor acquired the property, which is located at 17693 Harpers Run and is an outparcel to Cypress Ranch, a 164-acre mixed-use development project.
Washington, D.C. — Northmarq has arranged the sale of a 4,403-square-foot retail space at 1515 15th St. NW in Washington, D.C. Isaiah Harf of Northmarq arranged the $7.6 million sale on behalf of the seller, a private Maryland-based investor. An undisclosed California-based buyer acquired the property in a 1031 exchange. Built in 2008, the space — which is located on the ground floor of Metropole Condominiums — is fully leased to TD Bank.
Baltimore — KLNB has arranged the sale of Church Square Shopping Center, a 44,252-square-foot retail center located at 923 N. Caroline St. in Baltimore. Andy Stape, Chris Burnham, Vito Lupo and Jake Furnary of KLNB represented the seller, a partnership between Burley Church LLC and Pinefield South-Kodiak LLC, in the $6.5 million transaction. Originally built in 1986, the retail center recently underwent renovations including roof work, parking lot repairs and façade updates. The property was fully occupied at the time of sale by tenants including DTLR Villa, Hip Hop Fish …
Morris Township, N.J. — More than twenty tenants have signed leases at Morris Marketplace, a soon-to-be-completed 140,000-square-foot retail center located in Morris Township. Steve Battista and William Lenaz of Jeffrey Realty arranged the leases on behalf of the undisclosed landlord. Located at 191 East Hanover Ave., the shopping center is anchored by a Burlington and Lidl. Tenants that will join the center include Starbucks Coffee, Wells Fargo, AT&T, Optimum, Jersey Mike’s Subs, Habit Burger, Hand & Stone Massage and Facial Spa, European Wax Center, Restore Wellness, Scenthound, Mattress Warehouse, Taco …
Brooklyn, N.Y. — Brooklyn Brewery, an independent craft beer brewer founded in 1988, has signed a lease at 1 Wythe Ave. in the Williamsburg neighborhood of Brooklyn. Developers will begin work on the property later this year, and beginning in summer 2024, the brewery will occupy 41,000 square feet of the building’s 82,000 square feet. Nathaniel Mallon of Verada arranged the lease on behalf of the brewery and the landlords of the building. The move will put Brooklyn Brewing four blocks away from its current location.