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Investment salesMixed-useNew YorkNews

JLL Arranges $19 Million Acquisition Loan for Mixed-Use Property in Manhattan

by Alex Tostado

New York City — JLL has arranged a $19 million acquisition loan for a mixed-use property in New York City’s SoHo neighborhood of Manhattan. Located at 489 Broadway, the five-story, 10,710-square-foot building was constructed in 1900. The property consists of eight residential and three retail units. Eliott Zeitoune, Michael Diaz, Aaron Appel, David Sitt and Brendan Collins of JLL secured financing on behalf of the borrower, Sherr Equities, through lender Morgan Stanley. Sherr Equities specializes in acquiring mixed-use assets with the intent to restore and redevelop them.

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Investment salesNew YorkNewsRetailers

Cushman & Wakefield Negotiates $4.7 Million Sale of Retail Unit in Manhattan

by Alex Tostado

New York City — Cushman & Wakefield has negotiated the $4.7 million sale of a retail co-op unit in New York City’s SoHo neighborhood of Manhattan. Located at 150 Thompson St., the 7,800-square-foot property consists of the ground floor and basement of the five-story, mixed-use co-op. Robert Burton and Bobby Carrozzo of Cushman & Wakefield represented the seller, Schiffini USA, in the transaction. The buyer was home furnishings company Safavieh.

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LeasingNewsNorth CarolinaRetailers

HomeGoods, Rack Room Shoes to Anchor Phase II of New Bern Marketplace in Coastal North Carolina

by Alex Tostado

New Bern, N.C. — Columbia Development has signed leases with HomeGoods and Rack Room Shoes to anchor Phase II of New Bern Marketplace in New Bern, North Carolina, a town situated along the Neuse River near the Atlantic Ocean. HomeGoods will occupy 22,000 square feet of space while Rack Room Shoes will occupy 6,139 square feet. Phase II is underway with both stores expected to open in early 2020. Columbia Development is developing the 330,000-square-foot neighborhood center and recently opened the nation’s largest Harris Teeter, as well as other tenants …

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CaliforniaNewsRetailers

Safco Capital Acquires 1.25-Acre Retail Parcel in West Hollywood for $25.2 Million

by Alex Tostado

West Hollywood, Calif. — Safco Capital Corp. has purchased a retail parcel, located at 8330 W. Santa Monica Blvd. in West Hollywood, California. Mayfair Realty sold the asset for $25.2 million. A 17,833-square-foot Gelson’s Market occupies the building situated on the 1.25-acre site. David Swartz of Crosbie Gliner Schiffman Southard & Swanson represented the buyer in the deal, which was structured as a sale-leaseback transaction.

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CaliforniaNewsRestaurants

Hanley Investment Group Arranges $3.5 Million Sale of Building Occupied by Raising Cane’s in Southern California

by Alex Tostado

Fontana, Calif. — Hanley Investment Group has arranged the $3.5 million sale of a single-tenant building situated on 0.6 acres within a Sprouts Farmers Market-anchored retail center in Fontana, California. The 3,233-square-foot property is fully leased to a Raising Cane’s Chicken Fingers restaurant, which opened in February. Other tenants at Highland Village shopping center include Jack in the Box, Burgerim, Jersey Mike’s, Oggi’s Restaurant, Mountain View Tires, Pacific Dental and Quick Quack Car Wash. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley represented the seller, Adler Realty Investments Inc., …

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New JerseyNewsRetailers

Marcus & Millichap Negotiates $1.8 Million Sale of Retail Property in New Jersey

by Alex Tostado

Denville, N.J. — Marcus & Millichap has arranged the $1.8 million sale of a 12,770-square-foot retail property in Denville, New Jersey. Located at 424 W. Main St., the fully occupied property is situated on 1.4 acres. Michael Lombardi and Scott Plasky of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction. The buyer was also a private investor.

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