16C — August 26 - September 15, 2016 — ICSC PA/NJ/DE Conference & Deal Making — Shopping Centers — M id A tlantic
Real Estate Journal
www.marejournal.com
S hopping C enters
Fashion Brand signs lease at The Kaufman Org.’s portfolio
Represents an affiliate of Hutensky Capital Partners Greysteel arranges the sale of 280,000 s/f Catonsville Plaza
NEW JERSEY — Sitar Realty Company , Iselin, an- nounced the following retail lease transactions: The lease of 20,000 s/f of warehouse and retail space at 2001 Highway 34 South, Wall by H2, LLC from DNV Concepts. Brian Schrader and Helena Loelius were the salespeople. The lease of 15,200 s/f of retail space at 231 Rte. 35, Eatontown by Petco Animal Supplies Stores, Inc. fromLGR Associates, LP. Loelius and Trista Ricciardelli were the salespeople. The lease of 6,334 s/f of retail space at 920-950 Hamilton St., Franklin Twp. by Total Renal Care, Inc. fromFranklin Court Management. Robert Bogash and Douglas Sitar were the salespeople. The lease of 5,508 s/f of retail space at 319-345 Rte. 46, Par- sippany by Flynn & O’Hara EAST MEADOW, NY — Nassimi Realty announced the opening of Dollar Tree at the East Meadow Commons shopping center located right off the Wantagh Parkway on Hempstead Turnpike in East Meadow. Dollar Tree is a customer-oriented, value- driven variety store operating at a one dollar price point. They have signed a lease for the 10,600 s/f space and will “We are excited to have Haute Hippie as 15W27’s first fashion tenant as the brand further diversifies the building and contributes to its modern style,” said Michael Heaner , partner at Kaufman. “15W27 is becoming a building where tenants want to go as the space is centrally located and at- tracts a variety of businesses.” Heaner, along with Grant Greenspan and Elliot War- NEW YORK, NY — The Kaufman Organization (Kaufman) , a full-service commercial real estate firm, announced that the company secured a 5,909 s/f, three-year lease for Haute Hippie, a chic lifestyle fashion designer, within its Madison Square Portfolio at 15 West 27th St. (15W27). The luxury brand, found in high-end department stores including Bergdorf Goodman, Saks Fifth Avenue and Neiman Marcus, to name a few, will encompass the en- tire sixth floor.
BALT IMORE , MD — Greysteel , a national com- mercial real estate investment services firm, has arranged the sale of Catonsville Plaza, a retail center in Baltimore, MD, for $28.6 million. Greysteel’s retail team led by managing director, Gil Neuman , repre- sented the sellers, an affiliate of Hutensky Capital Partners , and procured the buyer, Mo- saic Realty Partners . Located at 5457 Baltimore National Pike in the Catons- ville community of Baltimore County, Catonsville Plaza to- tals nearly 280,000 s/f on over 15 acres. The shopping center is 99% leased to 16 tenants in- cluding anchor Shoppers Food Warehouse and Dollar General, Planet Fitness, Planet Aid, Merchant’s Tire & Auto Cen- ters, Forman Mills, Salontra Suites, DaVita, Dunkin Do- nuts, Subway and Metro PCS. “The sellers diligently cre- ated new asset value through strategic leasing, renewals, and capital upgrades,” said SPRING GARDEN, PA — Construction has started on the much-anticipated Shoppes at Wyndham in Spring Garden Township. Designed to blend with the aesthetics of nearby businesses, The Shoppes will offer convenient access to gro- cery, restaurant, and other retail stores for the tens of thousands who live, work, and study in close proximity to the site. Developer George Bullard of SpringLane has been in the business for over 30 years and knows what works. “I’ve always like the site, so when it became available, I jumped on it immediately,” he said. “It’s obviously a well-located site and the people that live, work and study in the surrounding area will benefit greatly from the convenience this retail de- velopment will offer.” SpringLane LLC teamed with Kinsley Construction on the design and construction of the facility. The shell build- ing will be complete at the end of the year and provides 20,000 s/f of retail space for as many as eleven potential tenants, three of which are presently com- mitted. ROCK Commercial Real Estate is representing
Uniform, Inc. from Jolly 46, LLC. Loelius was the salesper- son in this transaction. Two leases of 5,000 s/f and 3,217 s/f of retail space at 2080 West County Line Rd., Jack- son by Brenda’s of Brooklyn and Safer Orthodontics, LLC, fromWhalepond Development LP. Giorgio Vasilis was the salesperson. The lease of 2,257 s/f of retail space at 2100 Highway 35, Sea Girt by The Artisian Mixer, LLC from Sea Girt Center, LLC. Loelius and Vasilis were the salespeople. The lease of 2,040 s/f of re- tail space at 511 Avenel St., Avenel by Natural Farmer’s Market from Irving Brown. Bogash was the salesperson. The lease of retail space at 4070 Asbury Ave., Tinton Falls by New Hope Chiroprac- tic, LLC from Asbury Avenue East, LLC. Vasilis and Loelius were the salespeople. n be coexisting with a diverse mix of national and regional tenants, bringing the center to 80% occupancy. With the store set to open during the last week of August, Nassimi Realty’s president Mike Nas- simi said: “We are very happy of the opening of Dollar Tree. This addition will bring an influx of customers to the cen- ter and consequently higher revenues overall.” n ren represented the landlord, 13W27 Leasehold, LLC, in the transaction while Glenn Isaa- cson of CBRE represented the tenant, Haute Hippie House LLC. Asking rent was $65 psf. Haute Hippie will move into the space September 2016. n 15 West 27th St
Catonsville Plaza
Neuman. “The buyers have acquired a stabilized credit- tenant asset fronting a high- traffic commercial corridor in a dense and growing demo- graphic,” he added. The center lies 2.5 miles from the Woodlawn Federal Center housing the Social Se- curity Administration Head- quarters and the Centers for Medicare and Medicaid
Services, employing 16,000 people, and a regional FBI Headquarters. Home to nearly 150,000 residents within three miles, the area is minutes from Downtown Baltimore and less than 40 miles from Washington, DC, with access to four interstate highways and access to Amtrak, MARC commuter rail, MTA bus lines, and Baltimore Light Rail. n
Nassimi Realty Welcomes the Dollar Tree to East Meadow Commons
SpringLane teams with Kinsley to deliver the Shoppes at Wyndham
Sitar Realty announces NJ transactions
Shoppes at Wyndham rendering (above) and site work (below)
Kinsley Construction is a family owned business head- quartered in York, Pennsyl- vania with offices in Read- ing, Pennsylvania; Baltimore, Maryland; and Herndon, Vir- ginia. Kinsley delivers solutions through preconstruction, con- struction management, general contracting and design-build services for clients throughout the Mid-Atlantic region. n
SpringLane with respect to leasing opportunities. SpringLane, LLC serves the local community by managing top-tier commercial real-estate development. SpringLane is currently managing a pipeline of net lease commercial real- estate projects and provides private investment capital opportunities related to these developments.
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