Columbia, Pa. — Let’s Roll — a store specializing in the sale, service, and rental of electric bikes, scooters, and mopeds — has signed a lease at Riverview Terrace, a shopping center located in Columbia, approximately 90 miles west of Philadelphia. Let’s Roll will occupy 1,119 square feet of space at the 30,621-square-foot retail center. Nate Resh and Patten Mills of ROCK Commercial Real Estate brokered the lease agreement. This marks the second location for Let’s Roll, which previously opened a store in Lancaster City.
Pittsburgh —JLL Capital Markets has secured $74 million in financing for SouthSide Works, a 471,939-square-foot mixed-use development located in Pittsburgh. Nick Unkovic and Jeremy Bernstein of JLL arranged the financing — in the form of a six-year, floating-rate loan — with Dollar Bank on behalf of the borrower, SomeraRoad. SouthSide comprises five buildings and features 245,570 square feet of office space and 226,369 square feet of retail space. Tenants at the development include Fred Rogers Productions, COhatch, General Dynamics, LA Fitness, Pins Mechanical, Speckled Egg and Common Place Coffee, 1:11 …
Willow Street, Pa. — Northpath Investments has sold Kendig Square, a 186,749-square-foot retail center located in Willow Street, roughly 70 miles west of Philadelphia. Christopher Munley, Jim Galbally, Colin Behr and James Graf of JLL Capital Markets represented Northpath in the transaction. Kendig Square, which was 95 percent occupied at the time of sale, is anchored by Weis Markets, a grocer with over 30 years of tenancy at the property. Additional tenants include Rite Aid, Planet Fitness, Dollar Tree, PNC Financial Services, UPS and Dollar General. Triple Bar Properties Inc. …
Norristown, Pa. — CBRE has brokered the $7.4 million sale of a 25,150-square-foot veterinary clinic in Norristown, a northwestern suburb of Philadelphia. Metropolitan Veterinary Associates occupies the facility, which was originally built in 1987 and renovated in 2019, on a triple-net basis. Michael Shover, Matthew Gorman, Thomas Finnegan and Rob Thompson of CBRE represented the seller, an entity doing business as LMP Van Buren LLC, in the transaction. The team also procured the buyer, a Nashville-based limited liability company.
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Puttshack Raises $150 Million in Growth Capital, Unveils Expansion Plans
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 …
Quakertown, Pa. — First National Realty Partners (FNRP) has acquired Richland Marketplace, a 162,000-square-foot shopping center in Quakertown, about 50 miles north of Philadelphia. Built in 2009, the center houses tenants such as Aldi, Best Buy, PetSmart, Planet Fitness, Staples, Ulta Beauty, Visionworks, Sally Beauty and Skechers. Colin Behr and Chris Munley of JLL represented the undisclosed seller in the transaction.
Harrisburg, Pa. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the sale of Colonial Commons, a 410,432-square-foot retail center in Harrisburg. The center, which was built in 1989 and renovated in 2014, was 98 percent leased at the time of sale and is anchored by tenants including Hobby Lobby, Dick’s Sporting Goods, HomeGoods, Marshalls, Ross Dress for Less, Jo-Ann Fabrics, Ulta and Old Navy. A PetSmart store is also set to open in 2023. Brad Nathanson of IPA represented the seller and procured the buyer.
Quakertown, Pa. — Cronheim Mortgage has arranged $9 million in permanent financing for a 210,000-square-foot shopping center in Quakertown, located approximately 40 miles north of Philadelphia. Anchored by Giant, the unnamed center also houses tenants such as Rite Aid, Buffalo Wild Wings, H&R Block and Panera Bread. Allison Villamagna and Andrew Stewart of Cronheim Mortgage arranged the financing on behalf of the borrower, a subsidiary of New York City-based ADCO Group. An undisclosed life insurance company provided the loan.
Montgomeryville, Pa. — JLL Capital Markets has arranged the sale of Airport Square, a 298,719-square-foot retail center located in Montgomeryville, roughly 25 miles north of Philadelphia. Airport Square was 98 percent leased at the time of sale and is anchored by TJ Maxx, Marshalls, Best Buy, Home Goods, HomeSense and Golf Galaxy. Other tenants include Old Navy, Michaels, Chipotle Mexican Grill and Shake Shack. Jim Galbally, Christopher Munley, Colin Behr and James Graf of JLL represented the seller, a global investment advisor, in the disposition of the property to a …
Forks Township, Pa. — Crayola has entered into an agreement with BrightColors LLC to open at least five new Crayola Experience venues, doubling Crayola’s presence in the U.S. The company’s portfolio currently includes five locations in Easton, Pennsylvania; Orlando, Florida; Bloomington, Minnesota; Plano, Texas; and Chandler, Arizona. Last November, Crayola began actively seeking partners to extend its footprint domestically and internationally. The Forks Township, Pennsylvania-based company’s first multi-venue licensing agreement will be with BrightColors, which is working with partner Kingsmen Xperience Inc. to open the new locations over the next …