Great Neck, N.Y. — Namdar Realty Group has sold a portfolio of 10 net-leased retail properties located across five states. Five of the properties are located in California. Two assets are in Oregon, and each of the remaining three properties are split between Illinois, Maine and Connecticut. The portfolio spans more than 100,000 square feet and was approximately 95 percent leased at the time of sale to tenants such as Buffalo Wild Wings, Best Buy, Cost Plus World Market, State Farm, AT&T and Uno Pizzeria. Andrew Ebrani and Jonathan Abda …
Valrico, Fla. — CBRE has arranged the sale of Valrico Commons, a 138,887-square-foot shopping center in Valrico. Built in 1986 and redeveloped in 2011, Valrico Commons is 93 percent leased, and is anchored by Publix, Ross Dress for Less and Five Below. Casey Rosen and Dennis Carson of CBRE represented the seller, which includes affiliates of North American Development Group and Primerica Group One. An affiliate of Phillips Edison & Co. acquired the property for an undisclosed price.
Bohemia, N.Y. — RIPCO Real Estate has arranged the sale of the 236,000-square-foot Sayville Shopping Plaza in the Long Island hamlet of Bohemia. Tenants include Modell’s Sporting Goods, Bed Bath & Beyond, Chase Bank, Old Navy, The Vitamin Shoppe and Sprint. Jeremy Isaacs of RIPCO represented the seller, Arc Trust, in the transaction. The buyer was Transformco, an entity formed in 2019 to acquire and revamp the assets of Sears Holdings Co.
Newington, N.H. — Torrington Properties has acquired Newington Park Shopping Center, a 102,000-square-foot property located in the southern coastal part of New Hampshire, for $13.3 million. The seller, Urstadt Biddle Properties Inc., had owned the 15-acre center since 1979. Torrington Properties purchased the asset in partnership with regional development and investment firm The Mount Vernon Co.
Miami — JLL has secured a $26.6 million refinancing for Town and Country Plaza, a 94,815-square-foot, fully-occupied shopping center in an infill location in Miami. Chris Drew, Brian Gaswirth and Reid Carleton of JLL secured the 11-year, full-term interest-only loan through The Guardian Life Insurance Co. of America on behalf of the borrower, MMG Equity Partners. Town and Country Plaza is anchored by Sedano’s Supermarket and home to tenants including Sherwin-Williams, Navarro Discount Pharmacy, Goodwill, Express Auto Care and Discount Auto Parts.
Cleveland — MCG Architecture has partnered with Mark Trommsdorff, who will work on Southeast business development for the Cleveland-based design firm. Trommsdorff recently retired from Kimco Realty Corp. where he worked for over 33 years. Over the past 20 years, Trommsdorff has been involved with retail and mixed-use development projects in 20 states, mainly in the Southeast. Trommsdorff’s focus at MCG will be maintaining the firm’s current clients as well as developing new client relationships.
Los Angeles — Seven new tenants are set to open at West Harbor, a 42-acre mixed-use dining and entertainment development along Southern California’s historic LA Waterfront in Los Angeles. New tenants include Yamashiro, a Japanese-fusion restaurant; Mike Hess Brewing, an independent craft brewery; Hopscotch, an art gallery with 17,000 square feet of gallery and lounge space; Poppy + Rose, a restaurant that serves country-inspired brunch food; Sugar Factory, a candy store; an undisclosed Mexican restaurant; and Jay Bird’s Chicken, a Nashville-style hot chicken restaurant. Retail Insite brokered the leasing transactions.
New York City — Vornado Realty Trust has entered into an agreement with an undisclosed buyer to sell five Manhattan retail properties for $184.5 million. The properties are located at 677–679 Madison Ave., 759–771 Madison Ave., 828–850 Madison Ave., 478-482 Broadway and 155 Spring St. Combined, the properties currently have negative income and a street-level occupancy rate of approximately 30 percent. Vornado is selling the properties in three separate transactions. The sale of the Madison Avenue properties is expected to close in the third quarter, and the sales of the …
Lake Forest, Calif. — Marcus & Millichap has arranged the sale of Lake Forest Center, a shopping center located at 20761 Lake Forest Drive in Lake Forest. A California-based private family trust sold the asset to a Maryland-based private investor for $5.7 million. The multi-tenant property features 17,244 square feet of retail space. Orbell Ovaness, Ara Rostamian and Peter Xiao of Marcus & Millichap’s Los Angeles office represented the seller and buyer in the deal.
Norwich, Conn. — Horvath & Tremblay has arranged the $4.5 million sale of Chipotle Plaza, a 6,466-square-foot retail center in Norwich, located in the southern coastal part of the state. Tenants include Chipotle Mexican Grill, Supercuts, T-Mobile and You Break I Fix. Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay represented the buyer and seller, both of which requested anonymity, in the transaction.