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KansasLeasingNews

Made in KC Leases 8,166 Square Feet at Lenexa City Center in Kansas

by Julia Sanders

Lenexa, Kan. — Made in KC has leased 8,166 square feet at The District at Lenexa City Center in Kansas. Launched in 2015, Made in KC provides local Kansas City artists a platform to reach customers across the metro area. The store features work from more than 300 local artists, designers and makers, including apparel, artwork, home goods, accessories and culinary products. Erin Johnston of Copaken Brooks represented the landlord on an internal basis. Chris McIntyre of Merrill Cos. represented Made in KC.

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Proper Cannabis
DevelopmentMissouriNews

IMPACT Strategies Completes Construction on Two Cannabis Dispensaries for Proper Brands in Missouri

by Julia Sanders

South County and Warrenton, Mo. — IMPACT Strategies has completed the construction of two cannabis dispensaries for Proper Brands in Missouri. Both projects involved the repositioning of existing retail buildings located in South County and Warrenton. Both store locations feature specialized security measures and vaults. The interiors feature black and white design with light wood accents and midcentury modern furniture. IMPACT worked with Eddy Design Group and Case Engineering. Proper Brands is a medical marijuana company in the state of Missouri.

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FinanceNewsWashington

NorthMarq Arranges $14.5 Million Refinancing for Lakeland Commons Retail Suburban Seattle

by Julia Sanders

Auburn, Wash. — NorthMarq has secured $14.5 million in refinancing for Lakeland Commons Retail, a shopping center located at 1502 Lake Tapps Parkway SE in the Seattle suburb of Auburn. The 10-year loan features a 30-year amortization schedule. Walgreens is a tenant at the 35,000-square-foot strip retail center. Bob Spiro and Scott Moline of NorthMarq’s regional Seattle office secured the refinancing.

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IllinoisInvestment salesNews

Friedman Brokers Sale of 69,584-Square-Foot Shopping Center in Metro Peoria

by Julia Sanders

Pekin, Ill. — Friedman Real Estate has brokered the sale of Broadway Village Shopping Center in Pekin, about 10 miles south of Peoria. The 69,584-square-foot property, built in 1970, is located on Broadway Street. Dollar General is the sole tenant in the center, which at the time of sale was only 8 percent occupied. Kyle Simon of Friedman brokered the sale. Buon Properties LLC purchased the asset from Cohen Development Co.

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Investment salesMarylandNews

Neuman Commercial Group Arranges $8.1 Million Sale of 22,782-Square-Foot Retail Center in Suburban Baltimore

by Julia Sanders

Owings Mills, Md. — Neuman Commercial Group has arranged the sale of Owings Mills Retail Center, a 22,782-square-foot property located at 9400-9424 Reisterstown Road in the Baltimore suburb of Owings Mills. The property is 94 percent occupied by tenants such as NTB Tire & Service, Dunkin’, Jersey Mike’s Subs and The Vitamin Shoppe. Gil Neuman of Neuman Commercial Group represented the seller, Cohen‐Fader LLP, in the disposition of the property for $8.1 million. Neuman also procured the private undisclosed buyer.

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Investment salesNew YorkNews

Katz & Associates Brokers Sale of Former 24 Hour Fitness in Metro New York City

by Julia Sanders

Yonkers, N.Y.— Katz & Associates has brokered the sale of a retail building formerly occupied by 24 Hour Fitness in Yonkers, a northern suburb of New York City. The building is situated on a 1.7-acre site at 589 Tuckahoe Road. Brian Katz, Jonathan Greenberg and John Heretakis of Katz & Associates represented the undisclosed seller in the deal. Tyler Lyman of True Commercial represented the buyer, Carpionato Realty, which purchased the asset for $4.2 million.

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Retail Portfolio
FinanceIllinoisNews

JLL Arranges $197 Million Refinancing for 10-Property Retail Portfolio

by Julia Sanders

Chicago — JLL Capital Markets has arranged $197 million in senior debt for the refinancing of a 10-property retail portfolio totaling over one million square feet. The portfolio is located in metropolitan areas surrounding Baltimore, Maryland; Chicago; San Diego; Los Angeles; San Francisco; Seattle; and Washington, D.C. Tarik Bateh, Greg Brown, Bruce Ganong, Keith Largay, Chris Hew and Drew Heitstuman of JLL secured 10 independent first mortgage loans on behalf of the borrower, an existing co-investment partnership managed by Regency Centers Corp. Financing was provided by Hartford Investment Management Co. …

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Stirling Square
FinanceFloridaNews

Aztec Group Secures $7.6 Million Refinancing for South Florida Shopping Center Leased to Aldi, 7-Eleven

by Julia Sanders

Dania Beach, Fla. — Aztec Group Inc. has arranged a $7.6 million loan for the refinancing of Stirling Square, a 25,515-square-foot shopping center located in Dania Beach. Located at 700 Stirling Road, the property is ground-leased to a 22,000-square-foot Aldi and a 3,515-square-foot 7-Eleven. Howard Taft and Joel Zusman of Aztec Group originated the financing through an unnamed life insurance company based in Idaho on behalf of the borrower, an affiliate of Salzman Real Estate Advisors. The 15-year loan featured a fixed interest rate below 3.8 percent and was structured …

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Stop and Shop
Investment salesMassachusettsNews

JLL Arranges $295 Million Sale of Stop & Shop-Anchored Grocery Portfolio in Northeast

by Julia Sanders

Quincy, Mass. — JLL Capital Markets has arranged the $295 million sale of a portfolio of 11 single-tenant retail buildings net leased on a long-term basis to Stop & Shop in markets throughout Connecticut, Massachusetts and Rhode Island. JLL marketed the portfolio on behalf of the sellers, Winstanley Enterprises and Surrey Equities. The Inland Real Estate Group of Cos. Inc. was the buyer. Additionally, JLL arranged two acquisition loans totaling approximately $158 million on behalf of the new owner. The two 10-year, fixed-rate loans were originated by JLL through a …

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South Park Mall
Investment salesNewsOhio

CBRE Brokers Sale of 1.4-Million-Square-Foot SouthPark Mall in Suburban Cleveland

by Julia Sanders

Strongsville, Ohio — CBRE’s National Retail Partners Midwest Team has brokered the sale of SouthPark Mall in Strongsville, a suburb of Cleveland. The sales price was undisclosed. The 1.4 million-square-foot regional mall is located at 500 Southpark Center. Anchor tenants include Dick’s Sporting Goods, Cinemark, Kohl’s, Macy’s, Dillard’s and JCPenney. CBRE represented the seller, a private equity firm. An East Coast-based private investment firm was the buyer.

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