property type: Retail

Commercial Real Estate Direct Staff Report The Destiny USA mall in Syracuse, N.Y., has been appraised at a value of only $203 million, down from the $710 million pegged to it in 2014, when $430 million of CMBS debt was ...

Commercial Real Estate Direct Staff Report The average asking rent for ground-floor retail space in Manhattan at the end of last year was $652/sf, a 9.9 percent decline from 2019, according to CBRE. Rents dropped by 1.1 percent in the ...

Commercial Observer Friedland Properties has sued a Buffalo Wild Wings franchisee for more than $3 million in unpaid rent and other fees for its 15,000 square feet of space at 253 West 47th St. in Manhattan. In the suit, which ...

Charing Cross Partners has paid $39.7 million, or $369.17/sf, for the 107,539-square-foot shopping center at 19330 Hawthorne Blvd. in Torrance, Calif. The Santa Monica, Calif., investor purchased the property from Regency Centers of Jacksonville, Fla., in a deal brokered by ...

AZ Big Media YAM Properties has paid $51.5 million, or $214.25/sf, for the 240,370-square-foot Pima Crossing shopping center in Scottsdale, Ariz. The Scottsdale company purchased the property from Karlin Real Estate, which was represented in the deal by Cushman & ...

The Real Deal A venture of BlackRock Inc. and L3 Capital has taken control of a portfolio of 14 retail properties in the Williamsburg neighborhood of Brooklyn, N.Y., in a deed-in-lieu of foreclosure. Newmark brokered the deal, which valued the ...

Commercial Observer Asana Partners has paid $39 million, or about $774.50/sf, for the 50,355-square-foot Sam's Park & Shop shopping center in Washington, D.C. The Charlotte, N.C., investment manager bought the property from Federal Realty Investment Trust, a Rockville, Md., REIT ...

South Florida Business Journal Midtown Equities has paid $65.5 million, or about $124.96/sf, for the Shops at Sunset Place, a 524,180-square-foot mall in Miami's South Beach area. A venture of Federal Realty Investment Trust and Grass River Property sold the ...

Turnbridge Equities has agreed to sell the Cary Towne Center shopping mall in Cary, N.C., to Epic Games Inc., publisher of the wildly popular online videogame, FortNite, for $95 million, or about $114.73/sf. Turnbridge, a New York developer, had purchased ...

Commercial Real Estate Direct Staff Report Perez Realty Group has paid $23.2 million, or about $19.33/sf, for the 1.2 million-square-foot Lafayette Square Mall in Indianapolis. The Indianapolis company bought the property, on a 113-acre parcel just northwest of the city's ...