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Center of Bonita Springs
FloridaGrocery-anchoredInvestment salesNews

Cushman & Wakefield Arranges Sale of Publix-Anchored Shopping Center in Bonita Springs, Florida

by Julia Sanders

Bonita Springs, Fla. — Cushman & Wakefield has arranged the sale of the Center of Bonita Springs, a 281,394-square-foot shopping center located in Bonita Springs. Adam Feinstein, Mitchell Halpern and Mark Gilbert of Cushman & Wakefield represented the undisclosed sellers in the transaction. Publix anchors the center, which is 90 percent leased to tenants including Beall’s Outlet/Home Centric, Old Time Pottery, Naples Community Hospital and Crunch Fitness. The buyer and terms of the transaction were undisclosed.

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Midtown Exchange
DevelopmentFinanceNewsNorth Carolina

Avison Young Secures $40 Million Financing for Midtown Exchange Project in Raleigh

by Julia Sanders

Raleigh, N.C. — Avison Young has secured a $40 million senior loan to fund the pre-development activities and horizontal infrastructure construction for Midtown Exchange, a $1 billion mixed-use development underway in Raleigh. The developer of Midtown Exchange, Dewitt Carolinas, received the funding for the 353,000-square-foot office tower. Wes Boatwright, Mike Yavinsky and Jon Goldstein of Avison Young led the financing transaction through an undisclosed lender. At full buildout, Midtown Exchange will include 790,000 square feet of Class A office space, 1,275 residential units, 300 seniors housing units, 300 hotel rooms, …

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Harris Portfolio
Investment salesNewsOklahoma

Stan Johnson Co. Brokers Sale of 12 Single-Tenant Retail Properties for $28.5 Million

by Julia Sanders

Tulsa, Ok. — Stan Johnson Co. has brokered the sale of a 12-property portfolio of single-tenant retail buildings located across 10 states. The properties are occupied by tenants including Advance Auto Parts and PetSmart, alongside other auto part, eye care and pet supply retailers. The 187,884-square-foot portfolio was acquired by a joint venture between affiliates of MCB Real Estate and Blue Vista Capital Management for $28.5 million. Zach Harris, Jeff Hughes and Melissa McKenzie of Stan Johnson Co. represented the seller, a Midwest-based private family office.

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Signal Hill
CaliforniaFaris Lee InvestmentsInvestment salesNews

Faris Lee Arranges $28.3 Million Break-Up Strategy of Signal Hill Gateway Retail Center Near Long Beach

by Julia Sanders

Signal Hill, Calif. — Faris Lee Investments has completed the break-up strategy of Signal Hill Gateway, a retail property in Long Beach, to four different buyers for a total of $28.3 million. Prior to listing, the urban infill property was divided into four product categories, including big box parcels, quick-service restaurant and daily needs strip, a sit-down restaurant and a drive-thru fast-food restaurant. Scott DeYoung and Jeff Conover of Faris Lee Investments represented the seller in the deal, Signal Hill Petroleum. The company will retain ownership of a one-acre parcel …

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Concourse Plaza
LeasingNew YorkNews

Extreme Department Store to Open 15,003-Square-Foot Store Near Yankee Stadium in New York City

by Julia Sanders

New York City — Extreme Department Store has signed a 10-year lease for 15,003 square feet at Concourse Plaza in the New York City borough of the Bronx. Concourse Plaza spans 311,650-square feet and is located four blocks from Yankee Stadium. Extreme Department Store will be situated on the ground floor next to Hibachi Grill & Supreme Buffett restaurant and Victoria Nail. Randall Briskin represented the center’s owner, The Feil Organization, and Gabriel Saff of Retail Zone represented the tenant in the transaction.

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Wendy's
Investment salesLouisianaNews

Hanley Investment Group Arranges Sale of Single-Tenant Wendy’s Drive-Thru in Alexandria, Louisiana

by Julia Sanders

Alexandria, La. — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant retail property net-leased to Wendy’s in the central business district of Alexandria. Jeff Lefko and Bill Asher of Hanley Investment Group, in conjunction with ParaSell Inc., represented the buyer, a private exchange buyer based in Southern California. Matt Kramer of Pegasus Investments Real Estate Advisory Inc. represented the seller, a local investor from the Alexandria area. Located at 4015 Jackson Street in Rapides Parish, the 2,785-square-foot net-leased building was built in 2017 and features …

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Retail Center
FinanceIndianaInvestment salesNews

Mag Mile Capital Arranges $5.7 Million Acquisition Loan for Indiana Retail Center

by Julia Sanders

Munster, Ind. — Mag Mile Capital has arranged a $5.7 million loan for the acquisition of an 18,440-square-foot retail center in Munster, about 30 miles southeast of Chicago. Situated at 8201-8231 Calumet Ave., the property is leased to a mix of national and local retailers, including Target, Starbucks Coffee and Panera Bread. Prabhat Jayara of Mag Mile arranged the five-year, fixed-rate loan on behalf of Translucence Management. A local bank provided the loan, which features a 75 percent loan-to-value ratio, an interest rate of 4.25 percent and a 25-year amortization …

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CVS
ArizonaCaliforniaCompany newsNews

Realty Income Agrees to Acquire VEREIT in All-Stock Transaction, Create $50 Billion REIT

by Julia Sanders

San Diego and Phoenix — Realty Income Corp. (NYSE: O), a San Diego-based real estate investment trust active in the net lease sector, has agreed to acquire VEREIT (NYSE: VER), a Phoenix-based real estate investment trust in the single-tenant net lease sector. The all-stock transaction will create a combined company dominant in the net lease space with an enterprise value of approximately $50 billion, making it one of the largest real estate investment trusts. VEREIT shareholders will receive 0.705 shares of Realty Income stock for every share of VEREIT stock …

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Top Golf
DevelopmentGeorgiaNews

Topgolf to Open Fourth Georgia Venue at Fuqua Development’s Exchange at Gwinnett in Metro Atlanta

by Julia Sanders

Buford, Ga. — Topgolf Entertainment Group has opened a fourth Georgia venue in Buford, roughly 38 miles outside Atlanta. The property anchors the Exchange at Gwinnett, a mixed-use project by Fuqua Development near the Mall of Georgia. The multi-level Topgolf Buford location will feature 72 climate-controlled hitting bays and a chef-driven food and beverage menu that guests can order from during their stay. The Exchange at Gwinnett features more than 465,000 square feet of retail, restaurants, office space, hotel space and residential units. Additional tenants include retailers such as Five …

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Investment salesIowaNews

Marcus & Millichap Brokers $13.9 Million Sale of North Ridge Center in Davenport, Iowa

by Julia Sanders

Davenport, Iowa — Marcus & Millichap has brokered the sale of North Ridge Center in Davenport for $13.9 million. The 119,381-square-foot shopping center is located at 4016 E. 53rd St. Tenants include Michael’s, Old Navy, Bed Bath & Beyond, Ulta Beauty, Five Below and TJ Maxx. Jeff Rowlett of Marcus & Millichap marketed the property on behalf of the seller and represented the buyer, both of which were undisclosed limited liability companies.

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