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FinanceNew JerseyNewsRetailers

JLL Arranges $46.5 Million in Refinancing for Retail Power Center in Howell, New Jersey

by Alex Tostado

Howell, N.J. — JLL has arranged a $46.5 million loan for the refinancing of Greenleaf at Howell, a 290,000-square-foot power center in Howell, 30 miles east of Trenton. Aaron Appel, Jonathan Schwartz, Keith Kurland, Brett Rosenberg, Adam Schwartz and Brandon Krupetsky of JLL placed the debt through JPMorgan Chase on behalf of the borrower, Sun Equity Partners LLC. A B.J.’s Wholesale Club anchors the property, which is located at the intersection of U.S. Route 9 North and Lanes Mill Road. Approximately 87,000 people live within a three-mile radius of the …

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CaliforniaInvestment salesNewsRetailers

Marcus & Millichap Negotiates $7 Million Sale of 16,480-Square-Foot Shopping Center in Southern California

by Alex Tostado

Westminster, Calif. — Marcus & Millichap has brokered the sale of Westminster Golden Center, a shopping center located at the southwest corner of Westminster Boulevard and Swan Avenue in Westminster. A private investor acquired the property from another private investor for $7 million. Situated on 1.5 acres in the Little Saigon submarket, the shopping center consists of three buildings offering a total of 16,480 square feet of space spread across 11 retail suites. Michael Matter and Aveesh Singroha of Marcus & Millichap’s South Bay office represented the seller and buyer …

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Investment salesNewsRetailersWisconsin

SRS Arranges $5 Million Sale of Walgreens-Occupied Property in Plymouth, Wisconsin

by Alex Tostado

Plymouth, Wis. — SRS Real Estate Partners has arranged the $5 million sale of a single-tenant property occupied by Walgreens in Plymouth, near Sheboygan. The 14,490-square-foot freestanding building is located at 2455 Eastern Ave. Built in 2004, the property is situated on 1.5 acres. Walgreens has 11 years remaining on its lease term. Dan Elliot and Sean Lutz of SRS represented the seller, Torrington Development Inc. MEI Realty purchased the building.

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ColoradoDevelopmentNewsRetailers

Evergreen Devco, City Street Investors Break Ground on The Shops at Beeler Park in Denver

by Alex Tostado

Denver — A joint venture between Evergreen Devco and City Street Investors has broken ground on The Shops at Beeler Park, located at the northwest corner of 56th Avenue and Central Park Boulevard in Denver’s Stapleton neighborhood. Situated on 6.8 acres, The Shops at Beeler Park will feature two multi-tenant buildings and five single-tenant buildings offering a total of 16,500 square feet of retail space. Completion is slated for November. The project team includes Farnsworth Group as architect and Waner Construction Co. as contractor. Evergreen has already sold two pads …

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Investment salesNewsPennsylvaniaRetailers

HFF Arranges Sale of 96,455-Square-Foot Shopping Center in Lancaster, Pennsylvania

by Alex Tostado

Lancaster, Pa. — HFF has negotiated the sale of Chelsea Square, a 96,455-square-foot, grocery-anchored shopping center in Lancaster, located between Philadelphia and Harrisburg. Regional grocer Weis serves as the anchor tenant alongside Talbots, Jos. A. Bank, M&T, Domino’s Pizza and Great Clips. Built on 10.6 acres, the property is located along the Manheim Pike, a retail corridor with a daily traffic count of approximately 46,000 vehicles. Chris Munley and Carl Fiebig of HFF represented the seller, Boston-based Beacon Communities, in the transaction. The buyer was Pennsylvania-based Goodman Properties. The sales …

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Investment salesNewsRetailersWisconsin

Cushman & Wakefield | Boerke Arranges Sales of Former Toys ‘R’ Us Buildings in Wisconsin

by Alex Tostado

Milwaukee and Madison, Wis. — Cushman & Wakefield | Boerke has arranged the sale of a building formerly occupied by Babies ‘R’ Us in Madison and a building formerly occupied by Toys ‘R’ Us in Milwaukee. The 45,451-square-foot Babies ‘R’ Us sold for $3.2 million. The 38,000-square-foot Toys ‘R’ Us sold for $2.6 million. John Kuhn, Nathan Powers and David Tighe of Cushman & Wakefield | Boerke represented the sellers.

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Investment salesNewsRetailersWisconsin

KW Commercial Negotiates $3.5 Million Sale of 44,911-Square-Foot Retail Center in Plover, Wisconsin

by Alex Tostado

Plover, Wis. — KW Commercial has negotiated the $3.5 million sale of Village Park at Plover, a 44,911-square-foot retail center in Plover, near Stevens Point in the center of the state. The property, located at 3012 Village Park Drive, is home to a variety of retail, restaurant and office tenants. Matthew Klein of KW represented the buyer, Amsden LLC. Jeff Rowlett of Marcus & Millichap represented the undisclosed seller.

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LeasingNew YorkNewsRetailers

Feil Organization Completes Leasing of 447,000-Square-Foot Building in Manhattan

by Alex Tostado

New York City — The Feil Organization has completed the leasing of 488 Madison Ave., a 23-story, 447,000-square-foot building in New York City. The Feil Organization signed Mephisto Shoes to a 1,854-square-foot lease and Mighty Bowl to an 800-square-foot lease. Both are expected to open this fall. The building was originally delivered in 1948 and was formally known as the “Look Building,” for the defunct magazine. The Feil Organization completed a renovation of the building in 2016 and has since signed tenants including Indochino, Bonobos Guideshops, UNTUCKit, City Hats and …

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CaliforniaDevelopmentNewsRetailers

Midwood Investment to Develop 94,000-Square-Foot Retail Property in Los Angeles’ Studio City

by Alex Tostado

Los Angeles — Midwood Investment & Development plans to build The Shops at Sportmen’s Lodge at the intersection of Coldwater Canyon Avenue and Ventura Boulevard in the Studio City neighborhood of Los Angeles. Designed by Gensler, the new ground-up development will feature 94,000 square feet of retail space and communal outdoor space designed OLIN Studio, as well as more than 450 parking spaces. Groundbreaking will commence in August, with an estimated opening slated for fall 2020. Midwood is co-developing the project with Richard Weintraub, who originally introduced this retail concept …

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LeasingMarylandNewsRetailers

Nellis Signs Five New Retailers to Metro D.C.’s Capital Plaza

by Alex Tostado

Landover Hills, Md. — Nellis Corp. has signed five new retail tenants to Capital Plaza Shopping Center in Landover Hills, Maryland. The five retailers include Starbucks Coffee, AT&T, Tropical Smoothie Café, Quickway Hibachi and Inspire Nail Bar & Spa. The tenants will join Walmart, McDonald’s and an under-construction Royal Farms. Capital Plaza is situated at 6200 Annapolis Road, eight miles east of downtown Washington, D.C. The center offers 180,000 square feet of developed retail space. The site is under redevelopment, and Nellis Corp. expects the first of three pad sites …

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