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Coral Reef Plaza
FloridaInvestment salesNews

Marcus & Millichap Brokers $11.9 Million Sale of Coral Reef Plaza in Metro Miami

by Abby Cox

Palmetto Bay, Fla. — Marcus & Millichap has brokered the $11.9 million sale of Coral Reef Plaza, a 29,115-square-foot retail center located in Palmetto Bay, approximately 15 miles southwest of downtown Miami. Jonathan De La Rosa and Eddie Toledo of Marcus & Millichap procured the buyer in the transaction. Located at 15295 and 15315 S. Dixie Highway, the nearly 2-acre property includes 34 suites across a mix of retail and office space, including a freestanding Taco Bell, a multi-tenant retail strip and a mixed-use building.

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Starbucks_Pomona
CaliforniaInvestment salesNews

Hanley Investment Group Arranges $4.6 Million Sale of Single-Tenant Retail Property in Metro Los Angeles

by Abby Cox

Pomona, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.6 million sale of a newly renovated, single-tenant retail property located in Pomona, roughly 30 miles east of downtown Los Angeles. A Starbucks café occupies the 1,650-square-foot space on a 15-year, triple-net corporate lease with 10 percent rental increases every five years during the primary term. Originally constructed in 1977, the single-tenant building was converted from an independent fast food restaurant to Starbucks’ newest prototype.     Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, …

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gaithersburg-retail-strip-center
DevelopmentMarylandNews

Matan Cos. Breaks Ground on 10,175-Square-Foot Retail Strip Center in Metro Washington, D.C.

by Abby Cox

Gaithersburg, Md. — Matan Cos. has broken ground on a 10,175-square-foot retail strip center in Gaithersburg, approximately 15 miles northwest of Washington, D.C. Situated on a 1-acre parcel at 715 Progress Way, the new retail center is part of a larger commercial development that includes nearby Chick-fil-A and Sheetz locations. Positioned behind the retail development are two 198,000-square-foot office and industrial buildings, also developed by Matan Cos., which are currently fully leased. Tenants include AstraZeneca, Montgomery County Public Schools (MCPS) and Daikin Comfort Technologies Distribution Inc. In addition to the new …

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Annapolis-Mall
LeasingMarylandNews

Atlas Hill, Centennial Sign Four New Tenants and Expand Lululemon at Annapolis Mall

by Abby Cox

Annapolis, Md. — Atlas Hill RE and Centennial have signed five new tenants at Annapolis Mall, a 1.6 million-square-foot super-regional shopping center located in Annapolis. Aéropostale is scheduled to open in June and POP MART plans to open this fall. Abercrombie & Fitch will open its doors in November, while beauty and lifestyle retailer Miss A will debut one of its first 100 stores in the country this year. Existing tenant lululemon is nearly doubling its size, relocating to a new 5,575-square-foot space in 2027. Atlas Hill RE owns and leases Annapolis …

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100-Crosby-Street-Manhattan
FinanceNew YorkNews

GFP Real Estate Receives $83 Million Loan for Refinancing of Manhattan Office, Retail Building

by Abby Cox

New York City — Local owner-operator GFP Real Estate has received an $83 million loan for the refinancing of 100 Crosby Street, an office and retail building in Manhattan’s SoHo neighborhood. The six-story, 175,000-square-foot building was originally constructed in 1884 and was fully leased at the time of the loan closing. Office users include Runway Growth Capital, Little Spoon, Shine Capital and Empire Entertainment, while American Eagle and Canadian fashion retailer Aritzia anchor the building’s retail component. TD Bank and BNY (formerly Bank of New York Mellon) provided the loan, …

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Academy-Sports-MS
Investment salesMississippiNews

SRS Real Estate Negotiates $9.4 Million Sale of Single-Tenant Retail Property in Madison, Mississippi

by Abby Cox

Madison, Miss. — SRS Real Estate Partners has negotiated the $9.4 million sale of a single-tenant retail property leased to Academy Sports + Outdoors located in Madison, about 15 miles north of Jackson. Michael Berk, Patrick Nutt and Chip Watson of SRS Real Estate represented the Louisiana-based private seller. The buyer was a publicly traded REIT. Built in 2017 on about 7 acres, Academy Sports occupies a 64,626-square-foot building on a corporate-guaranteed lease with eight years remaining. Nearby retailers include Lowe’s Home Improvement, Office Depot, Walmart Supercenter and The Home …

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DevelopmentEntertainmentNew JerseyNews

Ace Pickleball Opens 26,500-Square-Foot Athletic Facility in North Brunswick, New Jersey

by Abby Cox

North Brunswick, N.J. — Ace Pickleball Club has opened a 26,500-square-foot athletic facility in North Brunswick, about 40 miles southwest of Manhattan. Located within the 288,000-square-foot Brunswick Shopping Center, the club will offer flexible, all-inclusive membership options for players, along with the opportunity to host private events and corporate outings. Fred Younkin of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Marta Villa of CBRE represented Ace Pickleball.

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Miami World Center Exterior
FloridaInvestment salesMixed-useNews

Joint Venture Acquires 300,000-Square-Foot Retail District at $6 Billion Miami Mixed-Use Development

by Abby Cox

Miami — A joint venture comprising affiliates of the Falcone Group, ROK Acquisitions, Andre Mirmelli, The Davis Cos. and Jamestown has acquired a retail and entertainment district situated within Miami Worldcenter, a new $6 billion mixed-use destination in downtown Miami.  The seller was master development group Miami Worldcenter Associates, which is a partnership between Falcone Group, Nitin Motwani and CIM Group. The sale price was not disclosed.  Totaling 300,000 square feet of retail, dining and entertainment space with 100,000 square feet of parks and plazas, the acquired property will be …

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Grocery-anchoredInvestment salesMixed-useNewsTexas

Town Lane, Gillon Property Group Purchase 460,000-Square-Foot Mixed-Use Development in Allen, Texas

by Abby Cox

Allen, Texas — New York-based Town Lane and Dallas-based Gillon Property Group have acquired Watters Creek Village, a 460,000-square-foot mixed-use development located in the northeastern Dallas suburb of Allen. An Ares Real Estate fund provided the debt financing for the acquisition. Delivered in 2008, Watters Creek Village spans 46 acres and features approximately 360,000 square feet of retail and 100,000 square feet of boutique office space. A Market Street grocery store anchors the property, with additional tenants including Anthropologie, Barnes & Noble, Chico’s, Bath & Body Works, DSW, Kendra Scott, Loft, …

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interstate-shopping-center-TJX
Grocery-anchoredInvestment salesNew JerseyNews

Wafra Acquires 348,742-Square-Foot Interstate Shopping Center in Ramsey, New Jersey

by Abby Cox

Ramsey, N.J. — New York-based Wafra has acquired Interstate Shopping Center, a 348,742-square-foot shopping center located in the Northern New Jersey community of Ramsey. CBRE arranged the joint venture between Crossroads Cos. and Wafra to purchase the property, while Axiom Capital arranged the acquisition loan. This transaction marks the first time the property has been sold since an earlier and smaller version of the center was acquired in the early 1990s. ShopRite, T.J. Maxx, Burlington, Ulta Beauty, Michaels and DSW anchor Interstate Shopping Center, which comprises seven buildings across 42 retail …

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