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Investment salesMixed-useNewsOhio

Nicol Investment Sells The Banks Mixed-Use Project in Downtown Cincinnati for $177 Million

by Hayden Spiess

Cincinnati — Nicol Investment Co. has sold the Riverfront Portfolio at The Banks, a mixed-use development in downtown Cincinnati, to Crawford Hoying. The sales price was not disclosed, but the Cincinnati Business Courier reports the property traded for approximately $177 million. The project consists of two multifamily properties totaling 592 units, Current at the Banks and Radius at the Banks, in addition to approximately 100,000 square feet of ground-floor retail space. The properties are located in the city’s Central Business District, nestled between Great American Ballpark (home of the MLB’s …

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The-Shoppes-at-South-Hills-Poughkeepsie
FinanceGrocery-anchoredNew YorkNews

Berkshire Bank Provides $36.1 Million Financing for Shopping Center in Poughkeepsie, New York

by Hayden Spiess

Poughkeepsie, N.Y. — Berkshire Bank has provided $36.1 million in financing for The Shoppes at South Hills, a 512,218-square-foot shopping center located north of New York City in Poughkeepsie. Tenants at the property include ShopRite, At Home, Ashley Furniture, Hobby Lobby and Christmas Tree Shops. The borrower, a partnership between Acadia Realty Trust and DLC Management, will use the proceeds to refinance and reposition the center. The nonrecourse loan carries a five-year term and a fixed interest rate. Mike Tepedino and Stephen Van Leer of JLL arranged the financing.

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taco-bell
Investment salesNet leaseNewsOhio

Cooper Group Brokers $1.9 Million Sale of Ground Leased Taco Bell Property in Kent, Ohio

by Hayden Spiess

Kent, Ohio — The Cooper Commercial Investment Group has brokered the $1.9 million sale of a single-tenant, ground-leased property occupied by Taco Bell in Kent. Constructed in 2019, the net-leased building serves as an outparcel to Maplecrest, a shopping center anchored by Meijer and Menard’s. Dan Cooper of Cooper Group represented the seller, a private investment group based in Northeast Ohio. The undisclosed buyer purchased the property at 99 percent of its list price, which represented a cap rate of 4.52 percent and $897 per-square-foot.

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IllinoisInvestment salesNet leaseNews

Marcus & Millichap Arranges $2 Million Sale of Starbucks-Occupied Building in Metro Chicago

by Hayden Spiess

Batavia, Ill. — Marcus & Millichap has arranged the $2 million sale of a 2,225-square-foot retail building in Batavia, approximately 40 miles west of Chicago. Constructed in 2022, the build-to-suit property is net-leased to Starbucks Coffee. The building features a drive-thru and outdoor seating. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a Chicagoland limited liability company. The duo also secured and represented the buyer, a Wisconsin-based private investor.

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Company newsNewsTexas

MCS Acquires Chain Store Maintenance

by Hayden Spiess

Lewisville, Texas — Property services company MCS has acquired Chain Store Maintenance (CSM), a commercial facilities services firm. MCS will offer the core interior maintenance services that CSM is known for, with a platform marketed as Chain Store Maintenance — an MCS Company. Exterior facility services will continue to be marketed under MCS. Founded in 1991, CSM currently has agreements to provide facilities services to more than 130,000 client locations in the U.S., Canada, Puerto Rico and Guam. Core offerings include handyman, electrical, locksmith and plumbing services.

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Eleven-Park_Indianapolis
DevelopmentIndianaMixed-useNews

Keystone Group, Indy Eleven to Break Ground on $1 Billion Mixed-Use Project in Downtown Indianapolis

by Hayden Spiess

Indianapolis — Keystone Group and the Indy Eleven professional soccer club have announced plans to break ground this May on Eleven Park, a mixed-use development in Indianapolis. Anchored by a 20,000-seat multipurpose stadium that will host Indy Eleven’s home games, the project will transform the southwest quadrant of downtown Indianapolis. The Indianapolis Star reports the project has a price tag of $1 billion. In addition to the stadium, Eleven Park will feature 600 apartment units; 205,000 square feet of office space; nearly 200,000 square feet of shops and restaurants; a …

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Sam's Crossing
GeorgiaGrocery-anchoredInvestment salesNews

Colliers Arranges Sale of 65,785-Square-Foot Shopping Center in Metro Atlanta

by Hayden Spiess

Decatur, Ga. — Colliers has arranged the sale of Sam’s Crossing, a 65,785-square-foot shopping center located in Decatur, a northeast suburb of Atlanta. Publix Super Markets anchors the center and was the buyer in the transaction. In addition to the new, 53,785-square-foot grocery store, tenants at the property include DECA Dental, Planet Smoothie, Jersey Mike’s and Jeremiah’s Italian Ice. Joe Montgomery, Scott Israel and Henry Kushner of Colliers’ Retail Investment Sales team represented the seller, Alliance Realty Services, in the transaction.

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Sunset-Harbour-Miami-Beach-Fla
FloridaLeasingNewsRestaurants

Asana Partners Adds Five New Tenants to Sunset Harbour Retail Center in Miami Beach

by Hayden Spiess

Miami Beach, Fla. — Asana Partners has announced the addition of five new tenants to Sunset Harbour, a 21,000-square-foot retail center in Miami Beach. Restaurants Casa Bufala, Sacro and Nautical Bowls will occupy 2,500, 2,813 and 950 square feet, respectively. Chip City Cookies will also join the food-and-beverage lineup, leasing 980 square feet. Additionally, fitness and wellness club The Outsider will open a 2,006-square-foot location.

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CaliforniaInvestment salesNet leaseNews

JLL Brokers $4.4 Million Sale of Single-Tenant Retail Property in San Jose, California

by Hayden Spiess

San Jose, Calif. — JLL has arranged the sale of a single-tenant retail building located in San Jose. An undisclosed seller sold the asset to a private capital exchange buyer for $4.4 million. Citibank occupies the 7,986-square-foot property on a triple-net lease with six years of the lease term remaining. Eric Kathrein, Warren McClean and Andrew Spangenberg of JLL Retail Capital Markets represented the seller and procured the buyer in the deal.

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Monarch-Market-Charlotte-N.C
DevelopmentNewsNorth CarolinaRestaurants

Crescent, Nuveen Underway on 18,000-Square-Foot Monarch Market Food Hall in Charlotte

by Hayden Spiess

 Charlotte, N.C. — Crescent Communities and Nuveen Real Estate are underway on the construction of Monarch Market, an 18,000-square-foot food hall located within One Independence Center in Charlotte. Hospitality HQ will operate the space, which is scheduled to open later this year and will feature 12 food stalls, one full-service restaurant, three bars and a private event space. The event space will include a cocktail lounge with outdoor space, semi-private space available for reservations and an indoor/outdoor bar. Food delivery and access to the tenant lounge will also be available …

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