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Investment salesMixed-useNewsTennessee

Northwood Investors Acquires Fifth + Broadway Mixed-Use Development in Nashville for $715 Million

by Hayden Spiess

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 …

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Man-O-War_Lexington_Kroger
FinanceGrocery-anchoredKentuckyNews

Cronheim Originates $8 Million Loan for Kroger-Anchored Shopping Center in Lexington, Kentucky

by Hayden Spiess

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 …

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Chick-fil-A-Lutz-Fla
FloridaInvestment salesNewsRestaurants

SRS Brokers $2.7 Million Sale of Restaurant Ground Leased to Chick-fil-A in Lutz, Florida

by Hayden Spiess

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.

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1515-15th-St.-NW-Washington-D
Investment salesNewsWashington DC

Northmarq Brokers $7.6 Million Sale of Ground Floor Space in Washington, D.C.

by Hayden Spiess

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.

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Church-Sqaure-Baltimore
Investment salesMarylandNews

KLNB Brokers $6.5 Million Sale of Baltimore Shopping Center

by Hayden Spiess

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 …

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Grocery-anchoredLeasingMixed-useNew JerseyNews

Jeffrey Realty Arranges Over 20 Leases at Morris Marketplace in Northern New Jersey

by Hayden Spiess

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 …

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Brooklyn Brewery
DevelopmentLeasingNew YorkNews

Brooklyn Brewery to Open 41,000-Square-Foot Location in Brooklyn’s Williamsburg Neighborhood

by Hayden Spiess

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.

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Winchester-Center
LeasingMichiganNews

Crossfit Maven Signs 17,123-Square-Foot Lease in Metro Detroit

by Hayden Spiess

Rochester Hills, Mich. — Fitness concept Crossfit Maven has signed a 17,123-square-foot lease at Winchester Center in Rochester Hills, approximately 30 miles outside of Detroit. Michael Murphy, Bill McLeod and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, RPT Realty. John Salsberry of Colliers represented the tenants. Winchester Center, anchored by Dick’s Sporting Goods, Marshall’s and Burlington, is located on Rochester Road just south of Avon Road.

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The-District-Berkeley-Heights-New-Jersey
DevelopmentMixed-useNew JerseyNews

Connell Co. Unveils Plans for Expansion at The Park in Northern New Jersey

by Hayden Spiess

Berkeley Heights, N.J. — Connell Co. has unveiled plans for expansion at The Park, a 185-acre mixed-use campus in the Northern New Jersey community of Berkeley Heights. The latest phase of The Park will be known as The District and will comprise five new buildings that will house 328 multifamily units and 190,000 square feet of retail, restaurant and entertainment space. The two multifamily buildings will total 179 and 149 units and will both feature a variety of indoor and outdoor amenities. The first of the three retail buildings will …

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905-E-Bidwell-St-Folsom-CA
CaliforniaFaris Lee InvestmentsInvestment salesNet leaseNews

Faris Lee Brokers $11.3 Million Sale of Sprouts-Occupied Retail Property in Folsom, California

by Hayden Spiess

Folsom, Calif. — Faris Lee Investments has arranged the sale of a retail building located at 905 E. Bidwell St. at The Bidwell Center in Folsom, roughly 20 miles northeast of Sacramento. VR Folsom, an Orange County-based private family office, sold the property to a La Jolla-based buyer for $11.3 million. Jeff Conover, Shaun Riley and Scott DeYoung of Faris Lee represented the seller, with Infinity Investment Properties representing the buyer in the deal. Situated on 2.7 acres, Sprouts Farmers Market occupies the single-tenant property. The tenant has a 15-year, …

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