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12547-Hawthorne-Blvd-Hawthorne-CA
CaliforniaFaris Lee InvestmentsInvestment salesNet leaseNews

Faris Lee Negotiates $11.1 Million Sale of Bank of America-Occupied Retail Building in Metro Los Angeles

by Hayden Spiess

Hawthorne, Calif. — Faris Lee Investments has arranged the sale of a retail building located at 12547 Hawthorne Blvd. in Hawthorne, roughly 15 miles outside Los Angeles. An Orange County-based private office group sold the property to the City of Hawthorne for $11.1 million. Bank of America occupies the 12,919-square-foot, single-tenant building on an absolute triple-net lease. Shaun Riley, Jeff Conover and Scott DeYoung of Faris Lee Investments represented the seller, while Chris Beck of Newmark Knight Frank represented the buyer in the deal.

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Lakemoor_Starbucks_GreenstonePartners
IllinoisInvestment salesNet leaseNews

Greenstone Partners Brokers $2.3 Million Sale of Starbucks-Occupied Property in Lakemoor, Illinois

by Hayden Spiess

Lakemoor, Ill. — Greenstone Partners has brokered the $2.3 million sale of a newly constructed retail property occupied by Starbucks Coffee in Lakemoor, located in Northeast Illinois. The net-leased building is situated within the larger Lakemoor Commons development, which is home to tenants such as Heartland Dental, Chipotle Mexican Grill and Buona Beef. Brewster Hague and Jason St. John of Greenstone represented the seller, a Chicago-area developer. The duo also procured the buyer, a private entity based in California completing a 1031 exchange.

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DevelopmentNew JerseyNews

Birdsmouth Beer to Open 12,080-Square-Foot Brewery in Oceanport, New Jersey

by Hayden Spiess

Oceanport, N.J. — Birdsmouth Beer will open a 12,080-square-foot brewery in the coastal New Jersey community of Oceanport on Saturday, Oct. 15. The craft beer provider will operate out of The Commissary, a 53,000-square-foot food hall that is part of the redevelopment of the former Fort Monmouth military base. Gary Krauss of Pierson Commercial represented Birdsmouth Beer in the lease negotiations. Suzanne Macknow of CBRE represented the owner, Denholtz Properties, which also recently inked a 19,567-square-foot lease with MGT Foods.

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Puttshack
ArizonaColoradoCompany newsFloridaGeorgiaIllinoisMassachusettsMissouriNewsPennsylvaniaTennesseeTexas

Puttshack Raises $150 Million in Growth Capital, Unveils Expansion Plans

by Hayden Spiess

Chicago — Chicago-based Puttshack, an indoor mini golf venue, has completed a growth capital round of $150 million from funds managed by BlackRock and continued support from Promethean Investments. The new funding will support Puttshack’s rapid growth strategy across the United States. New venues in Boston and Miami are scheduled to open this fall, followed by one in St. Louis this winter. Additional locations in Dallas, Denver, Houston, Nashville, Philadelphia, Pittsburgh and Scottsdale, plus a second location in Atlanta, are all slated to open in 2023. Additional U.S. locations will …

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Rock_Run_Crossings
DevelopmentIllinoisNews

PENN Entertainment to Build $185 Million Casino at Rock Run Crossings in Metro Chicago

by Hayden Spiess

Joliet, Ill. — PENN Entertainment has unveiled plans to build Hollywood Casino Joliet at the Rock Run Crossings development in Joliet, roughly 35 miles southwest of Chicago. Construction is expected to begin in late 2023, subject to local regulatory approval. The project has an estimated budget of $185 million and will combine gaming, dining and 10,000 square feet of meeting and event space. The land-based casino will replace PENN’s riverboat casino in Joliet. Cullinan Properties owns Rock Run Crossings, which spans 310 acres and 1 million square feet.

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EoS-Fitness-Greenway-Gateway-Mesa-AZ
ArizonaInvestment salesNews

Cushman & Wakefield Brokers $18.9 Million Partial Sale of Greenfield Gateway Retail Center in Mesa, Arizona

by Hayden Spiess

Mesa, Ariz. — Cushman & Wakefield has arranged the sale of a 67,709-square-foot portion of Greenfield Gateway, a 349,143-square-foot retail center located in Mesa. Greenfield Gateway LLC sold the property to an entity formed by the Hinkson Co. for $18.9 million. Situated on 10.1 acres, the sold portion consists of fully leased buildings, including an EoS Fitness-anchored building and two multitenant strip-retail buildings. Michael Hackett, Ryan Schubert and Chris Hollenbeck of Cushman & Wakefield in Phoenix represented the seller in the transaction.

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CVS
FloridaInvestment salesNet leaseNews

Marcus & Millichap Brokers $6.3 Million Sale of CVS/pharmacy Location in Orlando

by Hayden Spiess

Orlando, Fla. — Marcus & Millichap has brokered the $6.3 million sale of a single-tenant retail building located at 3212 Curry Ford Road in Orlando. The 13,824-square-foot property is net leased to CVS/pharmacy. Gabriel Britti, Ricardo Esteves and Ronnie Issenberg of Marcus & Millichap’s Miami office represented the seller, a limited liability company, and the undisclosed buyer.

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Investment salesNewsRestaurantsTexas

Littwitz Investments Inc. Brokers Sale of Two Texas Retail Properties

by Hayden Spiess

The Woodlands, Texas and Houston, Texas — David Littwitz of Littwitz Investments Inc. has brokered the sale of two retail properties, located in The Woodlands and Houston. Located at 922 Lake Front Circle in The Woodlands, the first property was sold by RFL LLC to HMC Woodlands LLC for an undisclosed price. David Littwitz represented the buyer, and Pierce Owens and Donna Kolius of JLL represented the seller. The 3.03-acre property houses a 10,808-square-foot building, which formerly operated as a Luby’s restaurant. A full-service Niko Niko restaurant is scheduled to …

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Ponce-City-Market_Atlanta
Company newsGeorgiaIndianaNews

Simon Agrees to Acquire 50 Percent Stake in Jamestown

by Hayden Spiess

Indianapolis and Atlanta — Simon has entered into an agreement whereby the REIT will purchase a 50 percent interest in Atlanta-based Jamestown, an owner of some of the most successful mixed-use developments in the country, such as Ponce City Market in Atlanta and Ghirardelli Square in San Francisco. Jamestown had $13 billion in assets under management as of June 30, 2022, with properties spanning the United States, Latin America and Europe. Terms of the purchase agreement were not disclosed. With this partnership, Jamestown will gain a partner with a broad …

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PinSeekers
DevelopmentIowaMixed-useNewsRestaurants

Ders Group Breaks Ground on PinSeekers Golf Venue at Park Place in Tiffin, Iowa

by Hayden Spiess

Tiffin, Iowa — The Ders Group LLC has broken ground on a two-story PinSeekers golf venue at the Park Place mixed-use development in Tiffin, about 20 miles south of Cedar Rapids. The 49,022-square-foot venue will feature 56 heated bays and Toptracer ball tracking technology, which uses high-speed cameras and computer algorithms to provide instant feedback on golf swings. The facility, which will be open year-round, also features 18 holes of mini golf, a full-service restaurant and two bars. Completion is scheduled for summer 2023. Innovative Construction Solutions is serving as …

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