Retailers

Company newsNew YorkNewsRetailers

Barneys New York Files for Bankruptcy, Will Keep Some Stores Open

by Alex Tostado

New York City — Luxury department store retailer Barneys New York has voluntarily filed for bankruptcy protection and has disclosed plans to close 15 of its 22 brick-and-mortar stores. The Chapter 11 filing in the U.S. Bankruptcy Court of the Southern District of New York indicated that Barneys had more than $100 million in assets and more than $100 million in debts, according to The Wall Street Journal. Barneys plans to keep five of its flagship locations open, including its famous Madison Avenue store. The retailer will also continue operating its …

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Investment salesNew JerseyNewsRetailers

CBRE Arranges $53 Million Sale of Retail Property in Lodi, New Jersey

by Alex Tostado

Lodi, N.J. — CBRE has arranged the $53 million sale of a retail property in Lodi, just west of New York City. The property contains a 132,000-square-foot space that is triple-net leased to Home Depot store through January 2029. Jeffrey Dunne, David Gavin, Jeremy Neuer and Travis Langer of CBRE represented the owner in the transaction. The undisclosed buyer acquired the property via 1031 exchange.

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CaliforniaInvestment salesNewsRetailers

Gaw Capital, DJM Acquire 463,000-Square-Foot Shopping Center in Los Angeles

by Alex Tostado

Los Angeles — Gaw Capital and DJM have acquired Hollywood & Highland, a 463,000-square-foot iconic shopping center in Hollywood. The sales price was not disclosed. The buyers plan to implement renovations over the next 24 to 30 months. Renovations will include improving event space, incorporating space for different tenant concepts and making the property more accessible to consumers. Jerry Tang and Greg Murphy of Natixis arranged a financing package, which included an acquisition loan along with the future funding component, on behalf of the borrower. The seller was CIM Group, …

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ColoradoLeasingNewsRetailers

NewMark Merrill Signs Three Retailers to Leases in Longmont, Colorado

by Alex Tostado

Longmont, Colo. — NewMark Merrill Mountain States has signed three retailers to leases at Village at the Peaks, a 442,000-square-foot shopping center in Longmont. The three retailers are Burlington, which signed a 35,032-square-foot lease and will open in spring 2020; Bank of America, which signed a 4,725-square-foot lease and will also open in the spring; and Nothing Bundt Cakes, which signed a 2,253-square-foot lease and will move in this fall. The shopping center is situated 13 miles northeast of downtown Boulder. When the three retailers open for business, the center …

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FloridaInvestment salesNewsRetailers

Katz Properties Acquires 174,037-Square-Foot Shopping Center in Metro Jacksonville

by Alex Tostado

Orange Park, Fla. — Katz Properties Retail has acquired Bolton Plaza, a 174,063-square-foot shopping center in Orange Park. Bolton Plaza was built in 1988 and was redeveloped and expanded between 2015 and 2017. The center was 99 percent leased at the time of the sale to tenants including Aldi, Marshalls, LA Fitness and Academy Sports + Outdoors. Bolton Plaza is situated at 661 Blanding Blvd., 20 miles south of downtown Jacksonville. The seller and sales price were not disclosed.

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ConnecticutInvestment salesNewsRetailers

Midwood Investment Sells Retail Property in Greenwich, Connecticut for $30 Million

by Alex Tostado

Greenwich, Conn. — Midwood Investment & Development has sold a retail property leased to CVS in Greenwich. The 10,695-square-foot property is located at 99 Greenwich Ave., in a retail and restaurant corridor that also includes apparel vendors Saks Fifth Avenue and Gucci. Jeffrey Dunne, David Gavin, Travis Langer and Will Pike of CBRE represented the seller in the transaction. The trio also procured the undisclosed buyer.

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FinanceFloridaNewsRetailers

Aztec Group Arranges $18.5 Million Refinancing Loan for Retail Center in South Florida

by Alex Tostado

Pembroke Pines, Fla. — The Aztec Group has arranged an $18.5 million refinancing loan of an existing construction for Pembroke Centre in Pembroke Pines. Continental Casualty Co. provided the five-year, non-recourse, fixed-rate loan. The borrower, Hart Lyman Cos., delivered Pembroke Centre, a 37,900-square-foot shopping center, in 2017. Tenants include anchor Twin Peaks, Comcast, TooJay’s, AT&T, Firebirds, Pieology and Habit Burger. Howard Taft, Charles Penan and Joel Zusman of Atzec Group represented the borrower in the loan transaction.

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FloridaInvestment salesNewsRetailers

JLL Negotiates $10.3 Million Sale of Four Retail Properties in Sarasota, Florida

by Alex Tostado

Sarasota, Fla. — JLL has arranged the sale of four retail properties in downtown Sarasota totaling 30,188 square feet. The four properties, which are situated on Main Street and Lemon Avenue, sold for $10.3 million. The properties were 89 percent leased at the time of sale to tenants including Sur La Table, Bluemercury, Eileen Fisher, Hyde Park Prime Steakhouse, Boca Kitchen, J. McLaughlin and Sara Campbell. Eric Williams, Daniel Finkle and Luis Castillo of JLL represented the seller, Lemon Avenue Partners LLC, in the transaction. The buyer was not disclosed.

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CaliforniaInvestment salesNewsRetailers

Lucescu Realty Negotiates Sales of Two Shopping Centers in Northern California for $24.6 Million

by Alex Tostado

Oroville and Auburn, Calif. — Lucescu Realty has arranged the sales of two shopping centers located in Northern California. Community Centers of America sold the properties for a total of $24.6 million. A Sacramento, California-based private development/investment company acquired Currier Square, a 131,017-square-foot, open-air community shopping center in Oroville, for $14.8 million. At the time of sale, the property was 88.5 percent leased to a variety of tenants, including Raley’s Grocery, Marshalls and Petco. The asset also includes four out-pad parcels positioned for redevelopment/buildout. A Los Angeles-based private investor purchased …

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DevelopmentFloridaNewsRetailers

Blackwater, Hutton Complete 161,000-Square-Foot Shopping Center Near Tampa

by Alex Tostado

Trinity, Fla. — A partnership between two developers, Alabama-based Blackwater Real Estate and Tennessee-based Hutton, has completed The Village at Mitchell Ranch, a 161,000-square-foot shopping center near Tampa. A 30,0000-square-foot Sprouts Farmers Market anchors the property, which is located at the intersection of State Route 54 and Little Road in Trinity. Other anchors include HomeGoods, Michaels, Five Below, Skechers and Ulta Beauty. Restaurant users include Burger King, Chipotle Mexican Grill and Panda Express, with more to be announced in the coming months.

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