Katz Properties acquires two shopping centers for $52.5 million

East Longmeadow, MA Katz Properties of New York has acquired Heritage Plaza in East Longmeadow and Golden Ring Plaza in Rosedale, Md. The single-day transaction, valued at $52.5 million, continues a consistent growth pattern for the company.

Heritage Plaza shopping center is a 116,840 s/f supermarket anchored shopping center, built in 1974, and is situated on 13.2 acres located at 470 North Main St. The shopping center is approximately 2.5 miles from I-91, adjacent to Springfield, and 30 miles from Hartford, Conn. Heritage was purchased for $28.45 million and is 98% occupied, primarily by a 55,573 s/f Stop & Shop supermarket, a 9,389 s/f Party City, a 7,900 s/f Dollar Tree and a 4,800 s/f Panera Bread.

Golden Ring Plaza, located in Rosedale, Md. at the intersection of Philadelphia Rd. (Rte. 7) and Rossville Blvd., is currently 98% occupied and is anchored by a 55,330 s/f Giant supermarket and a 25,195 s/f Marshalls. Golden Ring Plaza totals 159,000 s/f and was purchased for $24 million.

Daniel Katz, a principal of Katz Properties said, "One of our first grocery anchored deals ever was across the border from East Longmeadow in Enfield, Conn. and we've been looking for more opportunities in this market ever since. This center and Golden Ring Plaza in Maryland both have market-leading grocers and an excellent mix of other retailers."

Daniel Kaufthal, a principal of Katz Properties, said, "We are glad to be returning to two markets we know well and have had success in. We continue to look for opportunities to purchase grocery anchored retail and add to our growing portfolio"

Mortgage financing for both deals was arranged by Tim Breda of Goedecke & Co. Heritage Plaza was financed by Sentinel Investments of Dallas, Tx. on behalf of National Life of Vt. Financing for Golden Ring Plaza was provided by AIG Global of NYC.

For Heritage Plaza, Cushman and Wakefield's capital markets group, led by Geoff Millerd, Justin Smith and Rob Griffin represented both Katz Properties and the seller.

For Golden Ring Plaza, both buyer and seller were represented by the CBRE team of William Kent and Gary Lawrence.

Leasing and property management services for both shopping centers will be provided by Winslow Property Management.

See more at: http://nerej.com/64654#sthash.3lEgYR1H.dpuf

Summit Realty Partners Announces Two Lease Signings at Pinkerton Place Shopping Center, Derry, NH

DERRY NH: Summit Realty Partners announces two recent lease signings at the new retail development project “Pinkerton Place Shopping Center” in Derry, NH. Dr. Craig A. Rothenberg and Dr. Michael H. Moskowitz of Vanguard Dental Group and Go Wireless - a Verizon Wireless Premium Retailer have signed up to lease space in the final phase of this 49,000 +/- sf shopping center which is currently under construction. Pinkerton Place is well located at the major intersection of Manchester Road and Ashleigh Drive in front of Super Wal-Mart and is currently occupied by Panera Bread, Woof Meow Family Pet Center, and Goodwill.

Dr. Craig A. Rothenberg & Dr. Michael H. Moskowitz of Vanguard Dental Group are relocating their family and cosmetic dental practice to Pinkerton Place. The doctors and their excellent team are excited for this fantastic opportunity. This move will allow the doctors to better serve their patients, families and the community. This facility will be larger, more comfortable and will hold the most advanced technologies to assist in diagnosis, treatment and total patient care.  Cutting edge technology such as high definition digital X-rays, Galileos 3D imaging, CEREC Omnicam crowns in just one visit, and Microscope enhanced dentistry, along with a passionate commitment to continuing advanced education will allow for the highest level of patient care.  The doctors and team are looking forward to caring for their existing patients and new families at this wonderful and more convenient new location.

Steve Sher of Go Wireless – a Verizon Wireless Premium retailer has been operating in Derry for over 15 years and is relocating his store to Pinkerton Place. The move to Pinkerton Place will allow for Go Wireless to create a new build out concept with an open design. This will include interactive displays which allow customers to better experience new products and technologies. Go Wireless is excited to move to a larger space in a new shopping center which is well located. Go Wireless operates 11 stores throughout New Hampshire.

Summit Realty Partners is presently looking for one more business to lease the last remaining 2,016 +/- sf at the shopping center. For more information please contact Chris McMahon of Summit Realty Partners at (781) 862-9700 or by visitingwww.summitrealtypartners.com. 

Orange Leaf Frozen Yogurt Leases Space on North Main Street

http://concord-nh.patch.com/announcements/orange-leaf-frozen-yogurt-leases-space-on-north-main-street

Orange Leaf Frozen Yogurt, one of the fastest-growing self-serve frozen dessert franchises, plans to open a store soon in downtown Concord located at 70 N. Main St.

Summit Realty Partners announced the recent lease signing, and is pleased that Orange Leaf will be joining several retail stores, restaurants and businesses in Concord’s busy downtown.

Orange Leaf Frozen Yogurt will utilize the leased space as their popular self-serve dessert concept, and host community events like book club evenings, story time, and open mic night.

Chris McMahon of Summit Realty Partners represented Orange Leaf in securing a lease for this location, and the store plans to open early June 2013. For more information you can visit the store Facebook site at Facebook.com/orangeleafconcord.

About Orange Leaf
Orange Leaf Frozen Yogurt is a self-serve, choose-your-own-toppings frozen dessert chain with a healthy mix of corporate affiliate stores and franchises from coast to coast, with recent expansion into Australia. Now over 240 stores strong, Orange Leaf’s pro-franchisee culture encourages owners to become a part of their community and provides them with the necessary ingredients for success. Orange Leaf offers a multitude of delicious, traditional and original flavors along with no sugar-added, gluten-free and dairy-free alternatives. Customized with a generous selection of do-it-yourself toppings, Orange Leaf provides an innocent indulgence, self-served in a stimulating atmosphere. For more information and franchise opportunities, visit orangeleafyogurt.com, like Orange Leaf on Facebook, or follow us on Twitter at @myorangeleaf.

About Summit Realty Partners
Summit Realty Partners is a commercial real estate firm providing brokerage, consulting, development and property management services. Headquartered in Lexington, Massachusetts and operating throughout the United States, we specialize in commercial property with an emphasis on retail. More information can be found at summitrealtypartners.com or by calling 781-862-9700.

US Cellular Leases a New Location Near Steeplegate Mall

http://concord-nh.patch.com/announcements/us-cellular-leases-a-new-location-near-steeplegate-mall

Summit Realty Partners is pleased to announce a recent lease signing and tenant opening at 240 Loudon Road in Concord. The transaction brings the 18,000 square foot retail strip center to 100% occupancy.

US Cellular has executed a Lease for 2,800 square feet and opened its doors for business on March 25 at the prominent retail strip center located next to Shaw’s Supermarket and the Steeplegate Mall on heavily traveled Loudon Road in Concord.

The national cell phone retailer joins the centers existing tenants: Jos. A. Bank, Starbucks, and Sleepy’s. Nearby businesses include Sears, J.C. Penny, Bon Ton, Best Buy, Target, Home Depot and many other great businesses in Concord’s regional retail corridor.

Chris McMahon of Summit Realty Partners represented the Landlord, Centerco Concord, LLC. John Ferris of CBRE/Grossman Retail Advisors represented US Cellular.

Summit Realty Partners is currently involved in a retail project located at 192-196 Loudon Road in Concord, NH. Up to 35,000 sf of retail space can be built at this high traffic development site which is listed for sale or for lease.

More information can be found at summitrealtypartners.com or by calling Chris McMahon at 781.862.9700 x225.
 

Summit Realty Partners Represents ColorTyme in Manchester, NH

Manchester, NH - Dickson of Stebbins Commercial Properties leases 3,820 s/f at 338 Lincoln St.

2013-02-21

Manchester, NH Tom Dickson, commercial real estate agent for Stebbins Commercial Properties, Inc. completed a five year lease at 338 Lincoln St. to Colortyme of 329A Lincoln St. The total space leased was 3,820 s/f. Colortyme will use the space for its local retail operation.

Tom Dickson represented the landlord, Mary & Ken Shutts of Lady Lake, Florida.  Chris McMahon from Summit Realty Partners represented the tenant.

http://nerej.com/news/Manchester--NH---Dickson-of-Stebbins-Commercial-Properties-leases-3-820-s-f-at-338-Lincoln-St- 

Summit Realty Partners Leases Former Friendly's - Portsmouth NH

Restaurateurs to reopen former Friendly's as Vida Cantina

PORTSMOUTH — The former Friendly's restaurant on Lafayette Road has been leased by two well-known city restaurateurs.

Jay McSharry and Joel Harris leased the 3,663-square-foot restaurant at the intersection of Lafayette Road and Constitution Avenue, according to Summit Realty Partners and Paul McInnis Inc. Chris McMahon of Summit Realty Partners said McSharry and Harris plan to open a full-service Mexican restaurant named Vida Cantina...

Read more:

http://www.seacoastonline.com/apps/pbcs.dll/article?aid=/20130131/BIZ/301310394

Summit Realty Partners Welcomes Advance Auto Parts and Great Clips to Exeter, NH

EXETER, NH: Summit Realty Partners is pleased to announce two recent lease signings at Exeter Commons Shopping Center in Exeter, NH which brings the 96,000 square foot shopping center to 100% occupancy.

http://exeter.patch.com/announcements/great-clips-and-advance-auto-parts-coming-soon

Client Acquisition - Katz Properties Buys Shaker Heights Shopping Center

SHAKER HEIGHTS, Ohio --  A New York real estate company recently paid $11.7 million for Shaker Towne Center, a grocery-anchored shopping center on Chagrin Boulevard.

Read more:

http://www.cleveland.com/business/index.ssf/2013/01/shaker_heights_shopping_center.html