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DevelopmentMichiganMixed-useNews

Bedrock Plans 1.5 Million-Square-Foot Cadillac Square Mixed-Use Development in Detroit

by Hayden Spiess

Detroit —Bedrock has unveiled plans for Development at Cadillac Square, a 1.5 million-square-foot mixed-use campus in downtown Detroit. The site is located near Ford Field, home of the NFL’s Detroit Lions, as well as Campus Martius Park and Cadillac Square. The development will feature residential, retail, office and entertainment space, as well as parking. Bedrock is owned by billionaire and Rocket Cos. founder Dan Gilbert, who with his companies has invested $5.6 billion in the purchase and rehabilitation of buildings in downtown Detroit, according to Forbes. Gilbert himself boasts a …

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Company newsNewsPennsylvania

Dick’s Sporting Goods to Acquire Moosejaw

by Hayden Spiess

Pittsburgh — Dick’s Sporting Goods has agreed to acquire outdoor retailer Moosejaw from Walmart. Founded in 1992, Moosejaw operates brick-and-mortar locations in Arkansas, Colorado, Illinois, Kansas, Michigan and Missouri, in addition to its e-commerce platform. “We believe there’s potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers,” says Todd Spaletto, senior vice president of Dick’s and president of the company’s specialty outdoor retailer, Public Lands. Moosejaw CEO Eoin Comerford will stay on following the acquisition, reporting to Spaletto. …

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Mesa Gateway
ArizonaInvestment salesNews

Phoenix Commercial Advisors Brokers $11.8 Million Sale of Mesa Gateway Retail Property in Arizona

by Hayden Spiess

Mesa, Ariz. — Phoenix Commercial Advisors has arranged the $11.8 million sale of Mesa Gateway, a three-building retail property located in Mesa. Totaling 31,824 square feet, the three buildings were fully leased to tenants including Verizon, Comerica, Jimmy John’s Sandwiches, Fit Body Boot Camp and Boba CuTea. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the transaction.

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Uptown-Park-Houston
LeasingNewsRestaurantsTexas

EDENS Adds Four New Tenants to Uptown Park in Houston

by Hayden Spiess

Houston — EDENS has announced the addition of four new retail and restaurant tenants to its Uptown Park development in Houston. Natuzzi, a luxury Italian furniture brand, will open a 6,393-square-foot showroom; and Hi, skin — a skincare concept — will occupy a 2,261-square-foot space. Food-and-beverage concepts JuiceLand and sweetgreen will also join the tenant lineup, leasing 700 square feet and 2,908 square feet, respectively.

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Grocery-anchoredInvestment salesNewsPennsylvania

JLL Arranges Sale of 134,980-Square-Foot Shopping Center in Philadelphia Suburb

by Hayden Spiess

Warrington, Pa. — JLL Capital Markets has arranged the sale of Creekview Center, a 134,980-square-foot shopping center located in the northern Philadelphia suburb of Warrington. A grocery store anchors the property, and other tenants include Chipotle Mexican Grill, Bank of America and Petco. Target and Lowe’s shadow anchor the center. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the undisclosed seller in the transaction. Goodman Properties acquired the center.

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7-Eleven
CaliforniaInvestment salesNews

Hanley Brokers Sale of Two 7-Eleven Properties Totaling $10.2 Million in California

by Hayden Spiess

Indio and Perris, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sales of two newly constructed properties in California, both leased to 7-Eleven, for a total of $10.2 million. Bill Asher and Jeff Lefko of Hanley represented the sellers, entities doing business as TSC Perris LLC and TSC Indio Golf Center LLC, in both transactions and procured the 1031-exchange buyers. The first property, comprising 3,494 square feet in Indio, was acquired by a private investor for $5.2 million. Rick Lazar of Lee & Associates represented the buyer. …

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IllinoisInvestment salesNewsRestaurants

Lee & Associates Negotiates Sale of 12,500-Square-Foot Former Restaurant Property in Metro Chicago

by Hayden Spiess

Schaumburg, Ill. — Lee & Associates has negotiated the sale of a 12,500-square-foot property formerly occupied by Frankly Yours restaurant in Schaumburg, approximately 30 miles northwest of Chicago. Rick Scardino and Michael Petrik of Lee & Associates represented the buyer, the Village of Schaumburg. Attorney Steven Dobrofsky represented the seller, Chicago Title Land Trust Co.

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FinanceNew JerseyNews

Axiom Capital Secures $2.1 Million Loan for Refinancing of Retail Property in Northern New Jersey

by Hayden Spiess

Teaneck, N.J. — Commercial finance and advisory firm Axiom Capital Corp. has secured a $2.1 million loan for the refinancing of an 11,500-square-foot retail property in the Northern New Jersey community of Teaneck. The freestanding building sits on a three-quarter acre site and was fully leased to a single, undisclosed tenant at the time of sale. The direct lender and borrower were also not disclosed. The nonrecourse loan carries a four-year term and a fixed interest rate.

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DevelopmentLeasingMassachusettsNewsRestaurants

Teresa’s Ristorante to Open 12,500-Square-Foot Eatery in Boston Suburb

by Hayden Spiess

Woburn, Mass. — Teresa’s Ristorante will open a 12,500-square-foot Italian eatery in Woburn, a northern suburb of Boston. The space, which features private dining rooms and a patio, is currently being renovated, and the restaurant expects to open this spring. John Halsey and Steve Cusano of Cummings Properties represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

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