News

ArizonaFinanceNewsPower centers

CBRE Arranges $45.8 Million Loan for Refinancing of Scottsdale Towne Center

by Matthew Auchincloss

Scottsdale, Ariz. — CBRE has arranged a $45.8 million loan for the refinancing of Scottsdale Towne Center, a 168,090-square-foot power center located at 15444 N. Frank Lloyd Wright Blvd. in Scottsdale. The center is nearly 100 percent leased and is anchored by TJ Maxx, Ross and Mountainside Fitness and shadow-anchored by Target. Shaun Moothart, Bruce Francis, Doug Birrell, Bob Ybarra and Nick Santangelo of CBRE Capital Markets’ Debt and Structured Finance team secured a five-year, fixed-rate, full-term interest-only loan on behalf of the owner, who acquired the property in 2021. 

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNewsPennsylvaniaPower centers

CBL Properties Closes $50.6 Million Sale of York Town Center in York, Pennsylvania

by Matthew Auchincloss

York, Pa. — CBL Properties, along with its 50 percent joint venture partner, has sold York Town Center, an open-air regional retail center located in the southern Pennsylvania town of York for $50.6 million. The transaction was completed at an 8.5 percent capitalization rate. York Town Center features 14 stores, including DICK’S Sporting Goods, Boot Barn, Best Buy and ULTA, and spans more than 297,000 square feet. The buyer was not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
FloridaInvestment salesNews

Benderson Acquires Three Properties Totaling 400,000 Square Feet in Florida 

by Matthew Auchincloss

University Park, Fla. — Benderson Development has acquired three properties totaling 400,000 square feet along the west coast of Florida. The first, Granada Plaza, is a Publix-anchored retail center located in the Tampa suburb of Dunedin at the intersection of Main Street and Keene Road. The second acquisition is Venice Market Place, a shopping center located where Tamiami Trail meets Center Road in Venice. Finally, Benderson purchased a building tenanted by Lowe’s Home Improvement Center at 10070 Estero Town Commons Place in Estero. 

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNevadaNews

SRS Real Estate Partners Brokers Sale of 31,086-Square-Foot Retail Property in Las Vegas for $6.2 Million 

by Matthew Auchincloss

Las Vegas — SRS Real Estate Partners has brokered the sale of a 31,086-square-foot retail property located at 2420 E. Desert Inn Road in Las Vegas for $6.2 million. The building, which is situated on 2.5 acres, has been occupied by Ross Dress for Less for more than 40 years. Patrick Luther of SRS represented the West Coast private seller. The buyer was a private investor from California who paid all cash. The closing cap rate was 6.5 percent.  

Continue Reading
0 FacebookTwitterLinkedinEmail
whitestone-shopping-center
FinanceGrocery-anchoredNew YorkNews

Northmarq Arranges $75 Million Loan for Acquisition, Redevelopment of Grocery-Anchored Center in Queens

by Abby Cox

New York City — Northmarq has arranged a $75 million loan for the acquisition and redevelopment of Whitestone Shopping Center, a 119,584-square-foot shopping center located in the northern Whitestone neighborhood of Queens. According to Long Island Business News, BTF Whitestone LLC purchased the center for $56 million. Key Food Supermarket anchors the property, which was originally built in 1955. Additional tenants include Webster Bank and JPMorgan Chase. Robert Delitsky and Keith Braddish of Northmarq secured financing through Acadia Realty Trust on behalf of the borrower.

Continue Reading
0 FacebookTwitterLinkedinEmail
Southern Shopping Center
Grocery-anchoredInvestment salesNewsVirginia

Crosland Southeast Sells Grocery-Anchored Shopping Center in Norfolk, Virginia, for $31.2 Million

by Abby Cox

Norfolk, Va. — Charlotte, North Carolina-based Crosland Southeast, along with an undisclosed joint venture partner, has sold Southern Shopping Center, a 235,070-square-foot retail property located in Norfolk, for $31.2 million. Tenants at the center, which was 90 percent leased at the time of sale, include Food Lion, Ross Dress for Less, Planet Fitness, Dollar Tree, Advance Auto Parts and Bojangles. Alex Quarrier and Thompson Brown of Berkeley Capital Advisors represented the seller. The buyer was Tampa, Florida-based East Coast Acquisitions.

Continue Reading
0 FacebookTwitterLinkedinEmail
Westfield-retail-office
Investment salesMixed-useNew JerseyNews

Marcus & Millichap Brokers $5.3 Million Sale of Retail, Office Property in Westfield, New Jersey

by Abby Cox

Westfield, N.J. — Marcus & Millichap has brokered the $5.3 million sale of 251 North Avenue West, a 17,831-square-foot retail and office building located in the Northern New Jersey community of Westfield. The three-story building features nine suites and was renovated in 2014. Tenants at the property include Columbia Bank, Edward Jones, the State of New Jersey, BAYADA Home Health Care and Rooster Spin. Alan Cafiero, David Cafiero and Damien Rance of Marcus & Millichap marketed the property on behalf of the seller and procured the private buyer.

Continue Reading
0 FacebookTwitterLinkedinEmail
Pacific-Pearl-Pleasanton-CA
CaliforniaLeasingNews

Pacific Pearl Shopping Center in Pleasanton, California, Welcomes Four New Tenants

by Abby Cox

Pleasanton, Calif. — Pacific Pearl Shopping Center, a 110,511-square-foot retail property located in the Bay Area city of Pleasanton, has welcomed four new tenants. Taiwanese tea house and bubble tea chain Chica San Chen is scheduled to open a 1,037-square-foot space late this month. Eight Turn Crepe, a fast-casual Japanese-style creperie, will debut a 1,647-square-foot eatery in late September or early October. Upon finalized plans, an opening date will be announced for Yogurtland, which signed a 1,220-square-foot lease at the center. Lastly, HiroNori Craft Ramen will occupy a 1,404-square-foot space, where …

Continue Reading
0 FacebookTwitterLinkedinEmail
Liberty-Center
DevelopmentMixed-useNewsOhio

Liberty Center Undergoes $20 Million Renovation in Suburban Cincinnati

by Abby Cox

Liberty Township, Ohio — Liberty Center, a mixed-use property located in the Cincinnati suburb of Liberty Township, is undergoing $20 million in renovations. Centennial, powered by Lincoln, serves as asset manager for the Apollo-owned property and is leading the execution of these initiatives. Plans for the 64-acre campus include tenant upgrades, the addition of first-to-market entertainment concepts and customer experience enhancements. Development approvals for a hotel and 300-unit multifamily component were also recently secured. Dick’s Sporting Goods is remodeling its space with interior upgrades and the addition of experiential amenities …

Continue Reading
0 FacebookTwitterLinkedinEmail
Legacy Drive Village
Grocery-anchoredInvestment salesNewsTexas

JLL Arranges Sale of 138,266-Square-Foot, Grocery-Anchored Retail Center in Plano, Texas

by Abby Cox

Plano, Texas — JLL Capital Markets has arranged the sale of Legacy Drive Village, a 138,266-square-foot retail center located in Plano. Kroger anchors the fully leased property, which was built in 1994. Additional tenants include Dunkin’, Einstein Bros. Bagels, Palm Beach Tan, Subway and Wingstop. Chris Gerard, Kristi Leonard, Ben Pollack and Alex Fronterhouse of JLL represented the owner, a joint venture managed by Weitzman, in bringing in an institutional investor as an equity partner in the property.

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts