R etail D evelopment R eimagined
M id A tlantic Real Estate Journal — Retail Development Reimagined — April 23 - May 20, 2021 — 9A
www.marej.com
Grocery-anchored retail center near Washington, D.C. trades for $17.35M JLL Capital Markets arranges sale & acquisition loan for the Giant-anchored retail center
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No. 1 grocer in the Washing - ton, D.C. area, along with a diverse mix of other tenants that include Starbucks and Advance Auto Parts. The site has a potential expansion and development opportu- nity with an undeveloped 1.3-acre pad site included in the sale. Manokeek Village Center is situated on 15.82 acres at 7025 Berry Rd. in Accokeek, a high-growth submarket ap - proximately 12 miles south of Washington, DC. It is on the “going home” side of Berry Rd. (Rte. 228) where it intersects with Indian Head Highway (Rte. 210), expos - ing the center to a combined
83,000 vehicles per day. The JLL Capital Markets team representing the seller was led by managing director Bill Moylan , senior director Jordan Lex and director Daniel Naughton . “Manokeek Village Center provides the buyer a major- ity of income from essential, credit tenants in a high- growth suburb of Washing - ton, D.C., characteristics that are in demand from both buyers and lenders,” Lex said. The JLL Capital Mar - kets Debt Placement team representing the new own - er included director Evan Parker . MAREJ ed these new businesses to Hoboken by promoting the strong long-term growth po - tential the city offers. Hobo- ken is a walking city, and each business benefits from the significant amount of foot traffic that passes its doors daily. It is also well-connected to New York City and sub - urban New Jersey towns via various modes of mass- transit and has long been a destination for out-of-town visitors who enjoy its vibrant waterfront and dynamic din - ing, boutique shopping, and nightlife scenes. Hoboken’s commercial buildings are pri - marily low-rise and mid-rise buildings that offer a lower density working experience than Manhattan with more fresh air and space for office workers to spread out. “Mayor Ravi Bhalla and the Hoboken City Council have been very supportive of the business community,” Mr. Fini added. “Through the dedicated efforts of the Hobo- ken Business Alliance and the pro-business stance of the City of Hoboken, Marid - ian Properties has been able to attract new businesses, restaurants and professional service providers from New York City and other sur - rounding communities who are eager to plant their flags in Hoboken.” MAREJ
ASHINGTON , DC — JLL Capi- tal Markets an-
nounced today that it has closed the $17.35 million sale of and secured $10.4 million in acquisition financing for Manokeek Village Center, a 74,470 s/f, grocery-anchored, small-format shopping cen - ter in the Washington, D.C. suburb of Accokeek, Mary - land. JLLmarketed the property on behalf of the seller, The JCR Companies (JCR). Am- Cap Necessity Retail Fund LLC purchased the asset. Additionally, working on behalf of the new owner, JLL arranged a 10-year, fixed- HOBOKEN, NJ — Marid- ian Properties has inked 16 new commercial leases in the last seven months, bringing a wave of new investment dol - lars and job opportunities to Hoboken. Maridian Properties also re-signed 10 existing tenants to lease renewals during the same time period. “These lease signings dem - onstrate that, although the coronavirus pandemic has affected the local economy, Hoboken remains an attrac- tive place to invest and do business,” said Mario Fini , founder and managing direc - tor of Maridian Properties. The new businesses signed at Maridian Properties owned buildings include: • Taco Bell leased a res - taurant space at 38 Hudson Place and held its grand open - ing in December. • Empyrean Indian Kitch - en, a restaurant serving au - thentic Indian food and boast - ing unique, exclusive recipes, leased a restaurant space at 20 Hudson Place and held its grand opening in January. This is a second location for owner Sunil Patel, who also owns a popular restaurant in Brooklyn. • SouzaFi t restaurant leased space at 517 Washing - ton St. and opened in October. This is the third location for
Manokeek Village Center
rate acquisition loan. Completed in 2003, Ma -
nokeek Village Center is 96 percent leased to Giant, the
Maridian Properties inks 16 new retail leases in Hoboken, NJ
Hoboken Mayor Ravi Bhalla cuts the ribbon at the grand opening of Empyrean Indian Kitchen, alongside owners Sunil and Vanita Patel.
80 River Street in Hoboken, NJ
70 Hudson St. • Anchor Therapy, a coun - seling center specializing in helping children, teens, adults, families and couples, leased of - fice space at 80 River St. • Hudson Smokes, a tobac - co shop, leased retail space at 22 Hudson Place. • Sweat + Glo, Hoboken’s first infrared sauna studio, leased space at 80 River St. • SR Prime Management, a property management com - pany with more than 200 units under management and more than 1,000 in the pipeline leased space at 80 River St. • Neymarc Visuals, a video production studio that builds strong relationships between brands and their customers through impactful visual storytelling, leased space at 12-14 Hudson Place. Fini successfully recruit-
the fitness-oriented eatery, with existing locations in Mt. Vernon, NY and Newark, NJ. • Tipico, one of the largest sportsbooks in the world, leased office space at 80 River St. in August. The firm is hir - ing for a variety of positions in anticipation of launching a New Jersey sports betting product. • Essence USA, an Internet of Things platform developer for market-leading health - care and senior care provid- ers, leased office space at 70 Hudson St. • Downtown Pain Man - agement, a medical office providing the diagnosis and treatment of different types of body pain, leased office space at 80 River St. • Regenerate SoftWave Therapy, A wellness center that offers FDA-approved SoftWave therapy to aid in
the recovery and regeneration of soft tissue injuries as well as chronic pain and inflam - mation, leased office space at 70 Hudson St. • Lantern Publishing, a book publisher, leased space at 34 Newark St. • Rockabill Consulting, a company that serves the af- fordable and supportive hous- ing development community through a variety of develop - ment and financial consulting services, leased office space at 80 River St. • Sixth Borough Salon, a full-service hair boutique, leased retail space at 133 Madison St. • Foot & Ankle Premier Specialists, a physician’s group specializing in podiatry and foot and ankle surgery with locations in Hoboken, Jersey City, Ridgefield, and Bloomfield, leased space at
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