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Investment salesLouisianaNews

Woodmont, Criterion Fund Acquire 144,638-Square-Foot Shopping Center in Slidell, Louisiana

by Katie Sloan

Slidell, La. — A partnership between The Woodmont Co. and The Criterion Fund has acquired Village at Northshore, a 144,638-square-foot shopping center located at 105-115 Northshore Blvd. in Slidell. Situated adjacent to I-12, the property was developed in 1988 and renovated in 2020. The retail center’s tenant roster includes Marshalls, JoAnn’s, Ollie’s Bargain Outlet, Boot Barn and Dollar Tree. Shadow anchors include Walmart Supercenter, Sam’s Club, The Home Depot and Aldi. SRS Real Estate Partners represented the seller, RCG Ventures, in the transaction. Woodmont was self-represented. Andy Thelen of Woodmont …

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Home-Depot
FinanceIllinoisNews

Maverick Commercial Arranges $14 Million in Permanent Financing for Home Depot-Occupied Property in Chicago

by Katie Sloan

Chicago — Maverick Commercial Mortgage Inc. has arranged a $14 million first mortgage loan for a 103,550-square-foot retail property occupied by Home Depot in Chicago’s Chatham neighborhood. Earlier this year, Home Depot signed a new 10-year lease with MG Development LP for the property, which is located at 200 W. 87th St. and includes an exterior garden center. A regional bank provided the 10-year, floating-rate loan, which features a 25-year amortization schedule. Proceeds from the loan paid off the existing lender, provided cash to the borrower and paid for closing costs.

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DevelopmentNewsTennessee

Tanger Breaks Ground on 290,000-Square-Foot Outlet Mall in Nashville

by Katie Sloan

Nashville, Tenn. — Tanger Factory Outlet Centers Inc. has broken ground on Tanger Outlets Nashville, a 290,000-square-foot outlet mall in Nashville. Scheduled to open in fall 2023, the six-building, open-air property will be located on a 32-acre site along I-24 within the Century Farms development. Tanger Outlets Nashville will house 70 brands and provide approximately 1,100 full- and part-time retail and management positions upon completion. Nashville will be the third Tennessee market served by Tanger as the Greensboro, North Carolina-based company has outlet malls in Sevierville and Memphis. The property …

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CaliforniaInvestment salesNews

Clarion Partners, HP Investors Sell Three Retail Properties in San Diego for $89.8 Million

by Katie Sloan

San Diego — Clarion Partners and HP Investors have sold a collection of three single-tenant net-leased retail properties within Gateway at Kearny Mesa in San Diego. An undisclosed private investor acquired the asset for $89.8 million. Totaling 194,303 square feet, the property is fully occupied by three national tenants, including a global discount department store, Food 4 Less and Prime Car Wash/Jiffy Lube. The properties were constructed in 2001 on 18.8 acres as part of a 30-acre Gateway at Kearny Mesa retail destination. Gleb Lvovivh, Geoff Tranchina, Darcy Miramontes, Kip …

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FinanceNewsPennsylvania

JLL Arranges $43 Million Loan for Office, Retail Redevelopment Project in Metro Philadelphia

by Katie Sloan

Drexel Hill, Pa. — JLL has arranged a $43 million loan for Drexeline Town Center, an office and retail redevelopment project located on the western outskirts of Philadelphia. The 18.5-acre site currently houses five retail and office buildings that were originally constructed between the early 1950s and 2000s. The borrower, a partnership between MCB Real Estate and Hampshire Cos., plans to redevelop the center into a mixed-use destination. Initial plans call for a 172-unit apartment complex, a 120,000-square-foot self-storage facility, a 72,000-square-foot ShopRite grocery store, a PNC bank branch, a …

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CaliforniaInvestment salesNews

Kidder Mathews Brokers $18.1 Million Sale of LA Fitness-Occupied Property in Suburban Los Angeles

by Katie Sloan

Baldwin Park, Calif. — Kidder Mathews has arranged the sale a 45,000-square-foot retail property occupied by LA Fitness at 13822 Garvey Ave. in Baldwin Park, an eastern suburb of Los Angeles. A private family investor sold the property to an undisclosed buyer for $18.1 million in a 1031 exchange transaction. Tanel Harunzade, Darrell Levonian and Brittney McCarthy of Kidder Mathews represented the seller in the deal, while Janet Neman and Angelica Gotzev of Kidder Mathews represented the buyer.

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Investment salesKentuckyNews

Newmark Arranges $1.4 Million Sale of Advance Auto Parts in Morgantown, Kentucky

by Katie Sloan

Morgantown, Ky. — Newmark has arranged the $1.4 million sale of a single-tenant retail property leased to Advance Auto Parts in Morgantown. The 6,895-square-foot building was acquired by a private 1031 investor. Matt Berres, Samer Khalil and Karick Brown of Newmark’s Irvine, California, office represented the seller, an undisclosed private developer, and procured the buyer in cooperation with Newmark’s Joseph Steffner.

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Nerf-Xperience
Company newsNew JerseyNews

Kingsmen Xperience and Hasbro Bringing New Entertainment Concepts to U.S.

by Katie Sloan

Singapore and Paramus, N.J. — Kingsmen Xperience, the U.S. location-based experienced focused subsidiary of Singapore-based Kingsmen Creatives Ltd. and Hasbro Inc. will be opening the first North American location of Nerf Action Experience and the world’s first Planet Playskool kids experience at Westfield Garden State Plaza in Paramus in 2023. Both indoor entertainment centers will feature multiple activity zones, food and beverage areas, and retail stores.  The Nerf Action Xperience at Westfield Garden State Plaza will be over 25,000 square feet in size and is designed to bring the Nerf …

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Investment salesNewsPennsylvania

IPA Negotiates Sale of 293,000-Square-Foot Shops at Valley Square in Suburban Philadelphia

by Katie Sloan

Warrington, Pa. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Shops at Valley Square, a 293,000-square-foot shopping center in Warrington, a northern suburb of Philadelphia. Built in 2007, the center consists of 89,447 square feet of office space and 203,701 square feet of retail space that houses tenants such as Ulta Beauty, Designer Shoe Warehouse, Bath & Body Works, Sleep Number and Eastern Mountain Sports. Food and beverage users include P.F. Chang’s, Panera Bread and Gran Rodeo Mexican Grill. Brad Nathanson of …

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