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Griffin-Plaza-Simi-Valley-Calif
CaliforniaGrocery-anchoredInvestment salesNews

JLL Brokers $22.1 Million Sale of Retail Property Near Los Angeles

by Hayden Spiess

Simi Valley, Calif. — JLL Capital Markets has arranged the $22.1 million sale of Griffin Plaza in Simi Valley, roughly 40 miles northwest of Los Angeles. Built in 1981, the property comprises 85,022 square feet. The center, which is anchored by Aldi and CVS/pharmacy, was 94 percent leased at the time of sale. Other tenants include Wendy’s and Varenita Assisted Living Community. Gleb Lvovich, Daniel Tyner and Geoff Tranchina of JLL brokered the sale on behalf of the seller, an entity doing business as Griffin Living. A private, 1031-exchange investor …

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Grocery-anchoredInvestment salesNew YorkNews

IPA Brokers Sale of 68,761-Square-Foot Shopping Center in Upstate New York

by Hayden Spiess

Watertown, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Plaza at Salmon Run, a 68,761-square-foot shopping center located in the upstate New York community of Watertown. Hannaford anchors the center, accounting for 76 percent of the gross leasable space with a lease that runs through 2028. Other tenants include Red Robin, boating specialist West Marine and salon Zoom Tan. Jim Koury led an IPA team that represented the buyer and seller, both of which requested anonymity, in the transaction.

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Zaxbys-Clermont-Fla
FloridaInvestment salesNet leaseNewsRestaurants

Metro Orlando Restaurant Property Trades Hands in $3.3 Million Sale

by Hayden Spiess

Clermont, Fla. — A single-tenant restaurant property located in Clermont, approximately 25 miles west of Orlando, has been sold for $3.3 million. The building is occupied by Zaxby’s on a net-lease basis. Dominic Sulo and Benjamin Bach of Marcus & Millichap arranged the 15-year sale-leaseback on behalf of the seller, an undisclosed limited liability company. The team also secured and represented the buyer, a Texas-based LLC. Ryan Nee, Florida broker of record, assisted in closing the transaction.

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LeasingNew YorkNewsRestaurants

Cord Meyer Signs Five New Tenants to Shopping Centers in Metro New York City

by Hayden Spiess

Queens, N.Y. — Cord Meyer Development Co. has signed three new leases at Bay Terrace Shopping Center in the Bayside neighborhood in Queens. Restaurants Avo Taco, Rosa Pizza and Monster Crab will occupy 2,533, 2,770 and 3,988 square feet, respectively. Tom Rettaliata of RIPCO Real Estate brokered the lease with Avo Taco, and Hymie M. Dweck of RIPCO Real Estate arranged the lease with Monster Crab. Matthew O’Grady of Cord Meyer represented the company as vice president of leasing. Additionally, Kyuramen Restaurant and Bar and Gregory’s Coffee have leased space …

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Shoppes-at-Eastchase-Montgomery-Ala
AlabamaFinanceNews

Northmarq Arranges Acquisition Financing for 388,700-Square-Foot Shopping Center in Montgomery, Alabama

by Hayden Spiess

Montgomery, Ala. — Northmarq has arranged financing for the acquisition of Shoppes at EastChase, a 388,700-square-foot shopping center located in Montgomery. Chad Owens of Northmarq’s Houston debt/equity team secured the loan through an undisclosed national bank on behalf of the borrower, an entity doing business as 5Rivers CRE. The loan carries a 10-year term with 4 years of interest only and a 40-year amortization schedule. Dillard’s, Target, Kohl’s and H&M anchor the property. Other tenants include Aldi, Ross Dress for Less, PetSmart, Ashley’s, DSW, Versona, Lululemon, Starbucks Coffee, Victoria’s Secret …

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Ironwood-Square-Coeur-d-Alene-Idaho
IdahoInvestment salesNews

Marcus & Millichap Arranges Sale of 105,406-Square-Foot Shopping Center in Northwest Idaho

by Hayden Spiess

Coeur d’Alene, Idaho — Marcus & Millichap has arranged the sale of Ironwood Square, a 105,406-square-foot shopping center located in Coeur d’Alene in northwest Idaho. Staples and Rite Aid anchor the property, which was 96.2 percent occupied at the time of sale. Other tenants at the center include Holiday’s Hallmark, Wells Fargo, Tesoro Fuel Center, Beyoutiful Hot Yoga and Norco Medical. Kobe Furqueron of Marcus & Millichap represented the seller, an entity doing business as Ironwood Partners LLC, in the transaction. Allan Friedman of Westlake Associates procured the buyer, an …

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Parkway-Village-St-Augustine-Fla
FloridaGrocery-anchoredInvestment salesNews

JLL Brokers $24.1 Million Sale of Retail Center in St. Augustine, Florida

by Hayden Spiess

St. Augustine, Fla. — JLL Capital Markets has arranged the $24.1 million sale of Parkway Village at St. Johns, a 52,070-square-foot retail center located in St. Augustine. Danny Finkle, Alex Sharrin, Eric Williams, Jorge Portela, Jeff Cicurel and Kim Flores of JLL brokered the sale on behalf of the developer and seller, a joint venture between Stiles Corp. and Cantrell & Morgan. Built in 2022, the property was fully leased at the time of sale. A 52,070-square-foot Publix anchors the center. Other tenants include Supercuts, Orange Theory Fitness and The …

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2727-2817-W-Belleview-Ave-Littleton-CO
ColoradoInvestment salesNet leaseNews

Blue West Capital Brokers $4 Million Sale of Shops at Belleview in Metro Denver

by Hayden Spiess

Littleton, Colo. — Blue West Capital has arranged the acquisition of Shops at Belleview, a net-leased retail building located in Littleton, approximately 10 miles south of Denver. A Hawaii-based 1031 exchange investor acquired the property from an undisclosed seller for $4 million. Shops at Belleview comprises two structures totaling 7,359 square feet and was fully occupied at the time of sale. Tenants include Black Rock Coffee, WingStop, Marco’s Pizza, Metro by T-Mobile and Trinity Nails & Spa. Bryce McNeely of Blue West Capital represented the buyer in the deal.

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Edens-Collection-Chicago
FinanceIllinoisNews

The Jaffe Cos. Receives $40 Million Refinancing for Edens Collection in Chicago

by Hayden Spiess

Chicago — The Jaffe Cos. has received a $40 million loan for the refinancing of Edens Collection, a retail center located in Chicago. Built in 2020, the property comprises 142,740 square feet and was 94 percent leased at the time of financing. Keith Largay and Christopher Knight of JLL Capital Markets secured the five-year, floating-rate loan through Pacific Life Insurance Co. on behalf of the borrower. Target anchors the center, which is home to other tenants including Ross Dress for Less, Starbucks Coffee, LA Fitness, Five Below, Chipotle Mexican Grill, …

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