Content about Real property law

June 13, 2014

A new retail building is reportedly planned for the site of a former adult entertainment club in the Rego Park neighborhood of Queens.

Queens, N.Y. — A new retail building is reportedly planned for the site of a former adult entertainment club in the Rego Park neighborhood of Queens. According to the Queens Chronicle, a 20,000-sq.-ft. building will occupy the location once occupied by the Goldfingers nightclub, which has been shuttered since 1999. 

May 29, 2014

Skincare specialist Infinite Beauty has leased its first New York City location at 1031 Third Avenue and 61st Street, according to Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman’s Retail Group, which represented both the landlord and tenant in the transaction.

New York — Skincare specialist Infinite Beauty has leased its first New York City location at 1031 Third Avenue and 61st Street, according to Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman’s Retail Group, which represented both the landlord and tenant in the transaction.

The retailer has stores in affluent areas along the east and west coasts, from Boca Raton, Fla., to Annapolis, Md., and White Plains, N.Y., to Roseville, N.Y., and Palo Alto, Calif.

 

April 21, 2014

SRS Real Estate Partners welcomes T.J. Powell as first VP in the Austin office. He will focus on tenant and landlord representation.

Dallas - SRS Real Estate Partners welcomes T.J. Powell as first VP in the Austin office. He will focus on tenant and landlord representation.

Powell has four years of commercial real estate experience and joins SRS from Retail Solutions, where he focused on third-party project leasing and tenant representation.

March 27, 2014

Divaris Real Estate has announced the signing of two new leases for a combined 7,700 sq. ft. and one lease renewal for 3,612 sq. ft. in the greater Richmond area.

Virginia Beach, Va. — Divaris Real Estate has announced the signing of two new leases for a combined 7,700 sq. ft. and one lease renewal for 3,612 sq. ft. in the greater Richmond area.

Sherwin Williams signed a new lease for 6,000 sq. ft. of retail space in the Town Hall Shopping Center in Colonial Heights, Va. DRE’s Richmond office represented the tenant in the transaction.

March 12, 2014

Two new tenants have signed into Warrenton Towne Center in Warrenton, Va., according to Divaris Real Estate, the broker representing Kalis Holdings, the landlord, in the transactions.

Virginia Beach, Va. — Two new tenants have signed into Warrenton Towne Center in Warrenton, Va., according to Divaris Real Estate, the broker representing Kalis Holdings, the landlord, in the transactions.

Regis Corporation leased 2,502 sq. ft. in the center for a beauty salon. The company owns, franchises or holds ownership interests in 9,763 locations worldwide.

February 7, 2014

Levin Management inked 27 new leases and lease renewals totaling more than 190,000 sq. ft. over the past several months.

North Plainfield, N.J. — Levin Management inked 27 new leases and lease renewals totaling more than 190,000 sq. ft. over the past several months.

Northern New Jersey (Passaic, Essex, Bergen and Somerset counties)

• At West Orange Plaza in West Orange, Essex County, Levin signed a 14,115-sq.-ft. lease with Retro Fitness. In neighboring Passaic County, at Clifton Plaza in Clifton, Levin signed another gym for 15,000 sq. ft. and is overseeing its ground-up construction there.

November 26, 2013

Dollar General, Lily’s As Seen on TV, Sunrise Pizzeria and General Nutrition Corporation have all signed leases for retail space in Virginia, according to Divaris Real Estate, which represented the shopping centers in the transactions.

Virginia Beach, Va. — Dollar General, Lily’s As Seen on TV, Sunrise Pizzeria and General Nutrition Corporation have all signed leases for retail space in Virginia, according to Divaris Real Estate, which represented the shopping centers in the transactions.

Dollar General renewed its lease for 6,720 sq. ft. in the Divaris-leased and –managed Glenwood Shoppes in Norfolk.

November 22, 2013

Mid-America Real Estate Corp.’s Net Lease Investment Group recently brokered the sale of a two-tenant 88,000-sq.-ft. retail building leased to Big Lots and Home Owners Bargain Outlet in Crest Hill, Ill.

Crest Hill, Ill. — Mid-America Real Estate Corp.’s Net Lease Investment Group recently brokered the sale of a two-tenant 88,000-sq.-ft. retail building leased to Big Lots and Home Owners Bargain Outlet in Crest Hill, Ill. A private investor in California purchased the property from a local Chicago area investor for $2.25 million.

Major retailers surrounding the property include Jewel/Osco, Ultra Foods, Food 4 Less and TJ Maxx.

November 4, 2013

American Realty Capital Properties has acquired Cole Real Estate Investments for $11.2 billion, creating the world’s largest net lease real estate investment trust, with an enterprise value of $21.5 billion.

New York -- American Realty Capital Properties has acquired Cole Real Estate Investments for $11.2 billion, creating the world’s largest net lease real estate investment trust, with an enterprise value of $21.5 billion.

ARCP has secured $2.75 billion in fully committed financing from Barclays. The loan is expected to close in the first half of next year.

Updated ARCP pro forma 2014 guidance indicates that adjusted funds from operations will move from $1.13 to $1.19 per share, compared with 2013 guidance of $0.91 to $0.95 per share.

October 18, 2013

The Mansour Group www.themansourgroup.com has closed on the sale of a Walgreens in Sauk rapids, Minn., in the St. Cloud metropolitan area, for $10.9 million.

Sauk Rapids, Minn.The Mansour Group has closed on the sale of a Walgreens in Sauk rapids, Minn., in the St. Cloud metropolitan area, for $10.9 million.

Mansour had the exclusive listing to market the property on behalf of the seller, a developer in Houston. The property generated multiple offers and sold to a 1031 California investor who needed a premium investment to meet the exchange needs.

October 9, 2013

The owners of Palmetto Gardens Plaza, a 7.1-acre center in Miami Gardens, have reached a settlement with PNC Bank, secured a new loan with Hudson Financial Services and signed a lease with Wal-Mart for a Neighborhood Market Store as its anchor tenant.

Miami Gardens, Fla. — The owners of Palmetto Gardens Plaza, a 7.1-acre center in Miami Gardens, have reached a settlement with PNC Bank, secured a new loan with Hudson Financial Services and signed a lease with Wal-Mart for a Neighborhood Market Store as its anchor tenant.

In January of 2010, PNC Bank filed a foreclosure action against Palmetto Design Center, the property owner. That action has been settled.

October 2, 2013

SRS Real Estate Partners www.srsre.com has opened the doors to a new office in Birmingham, Ala.

DallasSRS Real Estate Partners has opened the doors to a new office in Birmingham, Ala. The company has also brought in Martin Smith to serve as senior VP and co-market leader alongside Josh Burmeister.

A 13-year veteran of the commercial real estate industry, Smith specializes in landlord representation, tenant representation and investment sales. Prior to joining SRS, he spent seven years with Retail Specialists, where he was director of brokerage and project leasing.
 

September 20, 2013

Divaris Real Estate has renewed two retail leases totaling more than 9,500 sq. ft. in Richmond, Va.

Richmond, Va. — Divaris Real Estate has renewed two retail leases totaling more than 9,500 sq. ft. in Richmond, Va.

Aaron’s renewed its lease for 8,008 sq. ft. in Brookhill Azalea Shopping Center, which DRE leases and manages for the landlord, BSV Premier Brookhill.

In a separate transaction, Subway renewed its lease for 1,575 sq. ft. at 360 West Shopping Center, which DRE leases and manages for the landlord, a partnership between HSW and RMW1.

August 8, 2013

Chain Store Age sat down with Stephen L. Hittman, CEO, Crossroads Cos., to discuss best practices for developing supermarket-anchored centers. Here’s what he had to say:

Over his 34-year commercial real estate career, Stephen L. Hittman has been developing supermarket-anchored shopping centers for 20 of those years. In 2001, he founded Crossroads Companies. As president and CEO of Crossroads, he has built a regional portfolio of supermarket-anchored centers valued at more than $200 million.

August 5, 2013

During July, SRS Real Estate Partners www.srsre.com executed a host of transactions in major cities across the country:

Dallas — During July, SRS Real Estate Partners executed a host of transactions in major cities across the country:

July 15, 2013

A first-of-its-kind document could go a long way toward cementing the sustainability relationship between retailer tenants and their shopping center landlords.

Washington, D.C. -- A first-of-its-kind document could go a long way toward cementing the sustainability relationship between retailer tenants and their shopping center landlords.

June 27, 2013

Madewell, a J. Crew concept, has signed its first lease in Center City Philadelphia, according to broker Fameco Real Estate.

Philadelphia -- Madewell, a J. Crew concept, has signed its first lease in Center City Philadelphia, according to broker Fameco Real Estate. The 4,000 sq.-ft. store will be located near Rittenhouse Square. Neighboring retailers include Intermixx, Burberry, Athleta and Blue Mercury. Fameco and Open Realty Advisors both represented Madewell in the transaction.

Both brokers are also representing searching for a 2,500-sq.-ft. location for J. Crew Men on Walnut Street in Philadelphia.

 

May 9, 2013

Canadian Tire Corp. plans to spin off most of its real estate assets into a C$3.5 billion (approximately U.S. $3.49 billion) real estate investment trust, with an initial public offering expected later this year.

Toronto -- Canadian Tire Corp. plans to spin off most of its real estate assets into a C$3.5 billion (approximately U.S. $3.49 billion) real estate investment trust, with an initial public offering expected later this year. The proposed new REIT would acquire a majority of the company's owned real estate, including approximately 250 properties comprised largely of Canadian Tire Retail stores, Canadian Tire anchored retail developments and one distribution center.  

March 4, 2013

NAI MLG Commercial announced that Tim Janusz and Brett Garceau have been promoted to VP.

Milwaukee -- NAI MLG Commercial announced that Tim Janusz and Brett Garceau have been promoted to VP.

Janusz specializes in office landlord and tenant representation, and Garceau specializes in the lease and sale of industrial properties.

 

March 1, 2013

Marks & Spencer, one of the leading retailers in the United Kingdom, is set to unveil a new property lease policy under which all new M&S stores will have ‘green’ clauses as standard enabling landlords and tenants to better manage a building's environmental performance.

New York -- Marks & Spencer, one of the leading retailers in the United Kingdom, is set to unveil a new property lease policy under which all new M&S stores will have ‘green’ clauses as standard enabling landlords and tenants to better manage a building's environmental performance.

January 10, 2013

Law firm Duane Morris announced that it has named partners Chester Lee in New York and George Kroculick in Philadelphia as co-chairs of its firmwide Real Estate Practice Group.

Philadelphia and New York -- Law firm Duane Morris announced that it has named partners Chester Lee in New York and George Kroculick in Philadelphia as co-chairs of its firmwide Real Estate Practice Group.

Lee and Kroculick succeed partner Marc Brookman in heading the practice.

Lee and Kroculick will take over a national practice involving more than 90 lawyers with broad experience in real estate and development matters.

September 24, 2012

By Sandra Gold Slon, attorney, Los Angeles-based TroyGould

By Sandra Gold Slon, attorney, Los Angeles-based TroyGould

August 23, 2012

By James H. Donell, CPM CCIM

By James H. Donell, CPM  CCIM, James.Donell@FedReceiver.com

When a commercial real estate property goes into foreclosure, the effects can be damaging for all parties involved – not only for the owner of the property who has defaulted, but also the lender and any additional creditors who may have a lien on the property.

August 15, 2012

Last June, two organizations — Retail Industry Leaders Association and International Council of Shopping Centers — co-sponsored a sustainability initiative that ultimately would set the bar for landlord/tenant partnerships.

The last 14 months haven’t been without bumps. Forging positive, mutually beneficial programs that involve cooperation from shopping center owners and their retail tenants has long been one of this industry’s greatest — and most frustrating — challenges.

May 23, 2012

Retail companies are more able and willing to reinvest in their businesses, as evidenced by sharp increases in 2012 capital expenditure budgets, according to a new white paper released by Colliers International.

Seattle -- Retail companies are more able and willing to reinvest in their businesses, as evidenced by sharp increases in 2012 capital expenditure budgets, according to a new white paper released by Colliers International.