property type: Retail

Crain's Chicago Business An affiliate of Eaton Vance Real Estate Investment Group has bought the 72,500-square-foot Whole Foods Market at 3201 North Ashland Ave. in Chicago's Lakeview neighborhood for $70.9 million, or $977.93/sf. The Boston investment firm purchased the retail ...

Commercial Real Estate Direct Staff Report The largest loan in the collateral pool of GS Mortgage Securities Trust, 2014-GC26, is now classified as being more than 30 days late, and the owner of the shopping mall that it encumbers is ...

Washington Business Journal The Montgomery County, Md., Planning Board has approved Unibail-Rodamco-Westfield's plans to bring apartment units and a hotel to the site of the 1.3 million-square-foot Westfield Montgomery Mall in Bethesda, Md. Plans call for 717 apartment units, a ...

Commercial Real Estate Direct Staff Report CBL & Associates Properties Inc. late last week had struck forbearance agreements with holders of its unsecured notes, giving the Chattanooga, Tenn., REIT a few more days to negotiate with those lenders. The agreements ...

South Florida Business Journal Eastern Industrial Development Corp. has bought the 12,735-square-foot retail building at 101 Hialeah Drive in Hialeah, Fla., for $10.5 million, or about $824.50/sf. Centrum Realty & Development of Chicago sold the property and was represented in ...

Preferred Apartment Communities Inc. saw a marked decline in rent collections at its 52 retail properties last month, to 82 percent from 87 percent in May. That's a sharp contrast to the collections rate at the Atlanta REIT's apartment, student-housing ...

Adler Realty Investments Inc. has paid $11.5 million, or just more than $171/sf, for Bensalem Crossing, a 67,215-square-foot retail center in the Philadelphia suburb of Bensalem, Pa. The Woodland Hills, Calif., investment manager has a portfolio of more than 4 ...

Commercial Real Estate Direct Staff Report Pyramid Cos. has negotiated the workout of a $430 million CMBS loan against the two phases of its Destiny USA Mall in Syracuse, N.Y., and is moving toward getting the securitized loans against five ...

The volume of CMBS loans in special servicing continued to balloon last month as another 291 mortgages with a balance of $11.2 billion transferred, according to DBRS Morningstar. Since the coronavirus pandemic started in March, 652 loans with a balance ...

Philadelphia Business Journal Philly Office Retail is planning on converting the 26,665-square-foot Max Levy retail building in Philadelphia into a 32-unit apartment property. Monthly rents for units will range from $830 to $1,560. The three-story building, at 212-220 Roberts Ave., ...

Pyramid Cos. has negotiated the workout of a $430 million CMBS loan against the two phases of its Destiny USA Mall in Syracuse, N.Y. and is moving toward getting the securitized loans against five other shopping malls modified as well.

South Florida Business Journal An affiliate of Corporate Partners Capital Group has sold a 15,785-square-foot retail building in Boca Raton, Fla., for $11.63 million, or about $736.78/sf. The Los Angeles company sold the property, which is occupied by a Walgreens ...

Houston Chronicle Floor & Décor has signed a lease for 91,100 square feet of retail space at the Clear Lake Center in Webster, Texas. The specialty retailer of hardwood flooring is taking the space previously occupied by Burlington, which vacated ...

Jewell Capital LLC has paid $22.5 million, or $350.09/sf, for the 64,270-square-foot Del Norte Marketplace shopping center in El Cerrito, Calif. The Miami investment company bought the retail property, at 11511-11565 San Pablo Ave., from RBL Real Estate of San ...

Commercial Real Estate Staff Report Sears is shuttering its store at the 949,844-square-foot Square One Mall in suburban Boston. Meanwhile, the retail property's $86.7 million of securitized debt became 30-days delinquent as of last month, according to servicer notes compiled ...

The market for retail properties net leased by their tenants has struggled to regain momentum lost when the coronavirus pandemic forced nationwide shutdowns and quarantines. Capitalization rates for net-leased properties in that sector increased by 10 basis points to 6.25 ...

The Real Deal Malls in some parts of New York state are expected to re-open on Friday, but those in New York City will remain closed. Governor Andrew Cuomo announced that malls in areas that are entering phase 4 of ...

The Pikesville, Md., company is under contract to acquire four retail properties totaling 358,685 square feet in secondary and tertiary markets, where it already owns 356 shopping centers totaling 19 million sf in 42 states. It's been receiving concessions from ...

Essential Properties Realty Trust Inc. collected 72 percent of the rent it was owed in June, up from 65 percent in May. The Princeton, N.J., REIT, which owns 1,050 retail properties with 8.3 million square feet that are net leased, ...

Commercial Observer A survey from the New York City Hospitality Alliance found that 80 percent of restaurants in the city did not make full rent payments last month. A total of 30 percent of the 509 restaurants surveyed said they ...

Boston Business Journal Gazit Horizons Inc. has sued Ann Taylor Loft for not paying rent at its 6,052-square-foot store at Boston's Marketplace Center. The company, a subsidiary of Gazit Globe Ltd. of Tel Aviv, Israel, filed suit in the U.S. ...

Commercial Observer A venture of Aurora Capital Associates and William Gottlieb Real Estate has secured $150 million of financing against the Solar Carve Tower, a 157,000-square-foot office and retail building in Manhattan. Deutsche Pfandbriefbank of Germany provided the loan, which ...

Pacific Business News Athos Capital Partners has paid $75 million for the vacant King Kalakua Plaza in Waikiki, Hawaii. The New York real estate developer bought the four-story building, with 78,113 square feet at 2080 Kalakua Ave., from Woodridge Capital ...

Commercial Real Estate Direct Staff Report Thor Equities has started marketing for lease the 14,589 square feet of retail space at 155 Mercer St. in Manhattan's SoHo neighborhood that it owns with ASB Real Estate Investments. The space is leased ...

Commercial Real Estate Direct Staff Report Macerich Co. has terminated its request to defer payments on the $274.5 million securitized mortgage against its Green Acres Mall in Valley Stream, N.Y. As a result, the loan, securitized through COMM, 2013-GAM, which ...