Shopping Center Business

OCT 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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22 • SHOPPING CENTER BUSINESS • October 2018 NEWSLINE retail center in Destin. Select Proper- ties arranged the transaction on behalf of CenterCore, and Alpha Capital CRE arranged acquisition financing through Ladder Capital Finance. OBP Partners sold the asset for an undisclosed price. The Market Shops was 93 percent leased at the time of sale to tenants such as Sun- set Shoes, Bijoux and Pizza by the Sea. Maple Street Biscuit Co., Clean Juice and Jon Smith Subs are scheduled to open at the center this fall. The property is also home to a 13,500-square-foot outpatient medical facility operated by Sacred Heart Health Systems. NKF CAPITAL MARKETS ARRANGES SALE OF 488,867-SQUARE-FOOT ESPLANADE SHOPPING CENTER IN SOUTHERN CALIFORNIA NKF Capital Markets has arranged the sale of Esplanade Shopping Center, a regional shopping center located in Ox- nard, California. Brixmor Property Group sold the property to G&I IX Esplanade Property LP for an undisclosed price. At the time of sale, the 488,867-square-foot property was 92.3 percent leased to ten- ants such as Nordstrom Rack, Walmart Neighborhood Market, TJ Maxx, Staples, Dick's Sporting Goods, Cost Plus World Market and The Home Depot. The prop- erty houses restaurants such as Blaze Pizza, In-N-Out Burger, BJ's Restaurant, Pick Up Stix, Jamba Juice and Starbucks Coffee. Bill Bauman, Kyle Miller and Matthew Schwartz of NKF Capital Mar- kets represented the seller. Additionally, NKF's David Milestone and Brett Green secured financing for the buyer in the transaction. OUT OF THE BOX VENTURES ACQUIRES 733,633-SQUARE-FOOT RICHLAND MALL IN OHIO Out of the Box Ventures LLC has ac- quired Richland Mall in Mansfield, Ohio, located midway between Columbus and Cleveland. Wells Fargo Bank NA sold the property for $7.4 million, according to local media reports. Macy's, JC Penney, Sears and AVITA Health Systems anchor the 733,633-square-foot enclosed mall. Other tenants include Victoria's Secret, American Eagle Outfitters, Chuck E. Cheese's, Bath & Body Works, Champs Sports, GameStop, Lenscrafters and The Finish Line. The acquisition includes all but Sears and AVITA Health Systems, which are both separately owned. Robert Marona of Madison Marquette will han- dle the property's leasing assignment. M O N E Y M AT T E R S JLL ARRANGES $221.8 MILLION BRIDGE LOAN FOR RETAIL PORTFOLIO IN BROOKLYN JLL has arranged a $221.8 million bridge loan through JP Morgan to finance a retail portfolio in the Williamsburg neighborhood of Brooklyn. Jonathan Schwartz, Aaron Appel, Michael Diaz and Sean Baillie of JLL secured the three-year, interest-only loan on behalf of the owners, RedSky Capital and JZ Capital Partners. The portfolio consists of 15 retail properties located on North 6th Street and Bedford Avenue. Three of the properties on North 6th Street are fully leased to a tenant roster that includes Urban Outfitters, Vans, Everlane and Aland. The remaining properties are in the process of being improved and leased. HFF ARRANGES $105 MILLION LOAN FOR REFINANCING OF THE VILLAGE AT CUMBERLAND PARK IN TEXAS HFF has arranged a $105 million loan for the refinancing of The Village at Cumberland Park, a 649,636-square-foot shopping center in Tyler. Jim Curtin of HFF, in partnership with Joseph Monteleone of Q10 | Triad Capital Advisors, arranged the 36-month, floating-rate loan through Bank of America on behalf of the borrower, a partnership led by The Retail Connection. From the Mall of America to the Ponce City Market, Adventure Golf Services makes it easy to add a fun, all-ages, cost-effective, revenue- generating entertainment to help boost & %*,.#&., q} Indoors or Outdoors, Permanent or Temporary, from Miniature Golf and Putting ,(-.)"/ r),~Ð)Ð&&('),~ 1 "0 -)&/.#)(} ), 2'*&~ )/, *, ,#.~ #(.,&)%#(!~ r2#&~ *.(. panel systems are ideal for restricted spaces needing lighter-weight or portable, moveable applications like: )) .)*-~½)(q(*- ),%-} Save your time & money by working with !&)& &, #( -#!( ( #(-.&&.#)(} Contact us today! Revitalize Your Space with a Miniature Golf or Game Court Attraction! AdventureAndFun.com (888) 725-4386 or (231) 922-8166 Traverse City, MI | Chicago, IL | Venice, FL Ponce City Market Rooftop in Atlanta.

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