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FinanceGrocery-anchoredMarylandNews

Northmarq Arranges $50.8 Million in Financing for Grocery-Anchored Retail Property in Metro Washington, D.C.

by Abby Cox

Potomac, Md. — Northmarq has arranged $50.8 million in permanent, fixed-rate financing for Potomac Place Shopping Center, an 80,040-square-foot retail property located in Potomac, roughly 15 miles northwest of downtown Washington, D.C. Originally constructed in 1967, Potomac Place is anchored by Safeway and features a mix of additional tenants such as Chipotle Mexican Grill, Starbucks Coffee, Mathnasium, Rose Home Services, Walgreens, PNC Bank and East West Tae Kwon Do. Jason Smith and Kenneth Gentzel of Northmarq arranged the loan through Nationwide Life Insurance Co. on behalf of the borrower, Zuckerman Gravely.

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Livingston-retail-office
Investment salesMixed-useNew JerseyNews

Marcus & Millichap Brokers $7 Million Sale of Retail, Office Property in Northern New Jersey

by Abby Cox

Livingston, N.J. — Marcus & Millichap has brokered the $7 million sale of 107 E. Mount Pleasant Avenue, a 26,240-square-foot retail and office property located in the Northern New Jersey community of Livingston. The two-story property was built in 1970 and comprises 19 units, 75 parking spaces and a newly constructed car wash. The property was 92 percent leased at the time of sale to 17 tenants including the Kumon Institute, a deli, café and pharmacy. Alan Cafiero, David Cafiero and Damien Rance of Marcus & Millichap marketed the property on …

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Grocery-anchoredInvestment salesNewsTennessee

Sembler Co., Forge Capital Acquire Kroger-Anchored Center in Jackson, Tennessee

by Abby Cox

Jackson, Tenn. — The Sembler Co. and Forge Capital have acquired Lynnwood Place, a 96,613-square-foot, grocery-anchored center located in Jackson. The property was acquired through the Forge Real Estate Partners investment fund. Lynnwood Place, which was 82 percent occupied at the time of sale, features a mix of tenants such as Kroger, Domino’s Pizza, Cato and Spectrum. Approximately 17,515 square feet of small-shop space is available for lease. The Sembler Co. will serve as the property manager and leasing agent at the center.

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CaliforniaDevelopmentFinanceNews

HKS Real Estate Arranges $7.8 Million in Construction Financing for Two Retail Developments in California

by Abby Cox

Fresno and Clovis, Calif. — HKS Real Estate Advisors has arranged $7.8 million in construction financing for two ground-up retail developments in Fresno and Clovis. Alex Dobosh and Andrew Pilchick of HKS secured the loans through North American Savings Bank on behalf of the borrower, Bottom Line Group. The first project will be a 4,771-square-foot 7-Eleven convenience store and gas station located in Fresno. The second project, which will total 11,353 square feet, will feature another 7-Eleven and a three-unit retail building in Clovis. Chipotle Mexican Grill and Phoenician Express have …

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CenterCal-WilliamsSonoma
IdahoLeasingMixed-useNews

CenterCal Properties Signs Leases with Five New Tenants at The Village at Meridian Near Boise, Idaho

by Abby Cox

Meridian, Idaho — CenterCal Properties has signed leases with five new tenants at the second phase of The Village at Meridian, an 80,000-square-foot commercial space underway that will span six buildings in Meridian, located roughly 10 miles west of downtown Boise. The new tenants will include upscale gastropub Culinary Dropout (7,000 square feet); fine-dining restaurant The Capital Grille; cookware and housewares retailer Williams Sonoma (5,550 square feet); Pottery Barn; and modern furniture brand 7th Avenue. Other tenants at the property will include Vuori, Alo, Kendra Scott, Tecovas, Gorjana, solidcore and Tempur-Pedic, …

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Festival-Manassas
Grocery-anchoredInvestment salesNewsVirginia

Finmarc Sells Shopping Center in Manassas, Virginia, for $24.5 Million

by Abby Cox

Manassas, Va. — Bethesda, Maryland-based Finmarc Management Inc. has sold Festival at Manassas, a 117,675-square-foot shopping center in Northern Virginia, for $24.5 million. JCR Cos. purchased the grocery-anchored property, which is located at 10288-10388 Festival Lane in Manassas. Ryan Sciullo, Chris Munley, Colin Behr and Casey Smith of CBRE represented Finmarc in the transaction. Situated near the intersection of Sudley and Portsmouth roads, Festival at Manassas was 88 percent leased at the time of sale to tenants including Global Foods, Golden Royal Buffet, SudsMore, My Salon Suites and Potbelly Sandwich …

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Link-OC-Anaheim-CA
CaliforniaInvestment salesNews

Newmark Pacific Arranges $16.5 Million Sale of Link OC Retail Center in Anaheim, California

by Abby Cox

Anaheim, Calif. — Newmark Pacific has arranged the $16.5 million sale of Link OC, a shopping center in Anaheim. An undisclosed seller sold the property to Northpond Acquisition. Located at 1071, 1081 and 1095 N. Tustin Ave., Link OC features 26,385 square feet of necessity-based retail space and was fully leased at the time of sale. Current tenants include Reborn Coffee, Wendy’s, Byblos Mediterranean Grill, Pampanga Food Co., Spin Poke & Grill and MD Clinics Urgent Care. The property was renovated in 2017. Pete Bethea, Glenn Rudy and Rob Ippolito of …

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Mandeville-Marketplace
Investment salesLouisianaNews

SRS Real Estate Negotiates $8 Million Sale of 62,324-Square-Foot Retail Property in Mandeville, Louisiana

by Abby Cox

Mandeville, La. — SRS Real Estate Partners has negotiated the $8 million sale of Mandeville Marketplace, a 62,324-square-foot retail center located in Mandeville. Built in 1988 on six acres, the property was fully leased at the time of sale to five tenants including Altitude Trampoline Park and Crunch Fitness. Sabrina Sapienza and Chad Lieber of SRS Real Estate represented the seller, a Louisiana-based owner. Ben Stalter of Maestri-Murrell represented the buyer, a Louisiana-based private investor, in the transaction.

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ArizonaDevelopmentNewsRestaurants

Cold Stone Creamery to Open Up to 12 Locations in Michigan Over the Next Four Years

by Abby Cox

Scottsdale, Ariz. — Cold Stone Creamery plans to open between eight and 12 new locations in Michigan over the next four years, building on its existing footprint of 27 stores in the state. A new Cold Stone Creamery location is underway in Plymouth, a suburb of Detroit, and is projected to open this fall. An additional Michigan location has also been awarded to a franchisee and is in the early stages of development, the company said. Kyle Welch, whose ownership group operates four Cold Stone locations in Michigan, said the company …

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Terra-Nova
CaliforniaInvestment salesNews

JLL Arranges $30.4 Million Sale of 96,114-Square-Foot Retail Center in Metro San Diego

by Abby Cox

Chula Vista, Calif. — JLL has arranged the $30.4 million sale of Terra Nova Plaza, a 96,114-square-foot retail center located in Chula Vista, roughly eight miles south of downtown San Diego. The center, which was fully leased at the time of sale, is occupied by a 44,477-square-foot Dick’s Sporting Goods and a 51,637-square-foot Floor & Décor store. Terra Nova Plaza is situated within a larger 301,000-square-foot, grocery-anchored regional shopping center that features a mix of tenants including Smart & Final, CVS/pharmacy, Marshalls, Chase Bank, Taco Bell, Jack in the Box and …

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