HFF announces $20 million sale of Chicago-area retail center

Woodgrove Festival         Photo by McShane Fleming Studio

CHICAGO, IL –- Holliday Fenoglio Fowler, L.P. (HFF) announces the $20 million sale of Woodgrove Festival, a 157,276-square-foot retail center in the Chicago-area suburb of Woodridge, Illinois. 

The HFF team marketed the property on behalf of the seller, Kimco Realty Corporation.  North American Real Estate (NARE) purchased the asset. 

Amy Sands

Completed in 1985 and renovated and expanded in 2010, Woodgrove Festival is 88.3 percent leased to Hollywood Blvd. Cinema, Five Below, Carter’s, Shoe Carnival, Pearle Vision, Starbucks, T-Mobile, Carrabba’s Italian Grill, Jameson’s Charhouse, Panera Bread and more. 

Additionally, the center is shadow anchored by Kohl’s.  Situated on 15.17 acres at 1001 West 75th Street, Woodgrove Festival is located at the southwest corner of 75th Street and Lemont Road, a highly trafficked intersection with 58,248 vehicles per day in the heart of the 75th Street retail corridor of Woodbridge, a community about 29 miles west of downtown Chicago. 

Clinton Mitchell

More than 103,000 residents with an average annual household income of $105,000 live within a three-mile radius of the center, which services the neighboring communities of Downers Grove, Darien, Lisle, Woodridge and Westmont.

The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell.

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. 

For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

Since 1998, North American Real Estate (NARE) has specialized in the investment and redevelopment of Chicagoland shopping centers.  More information about NARE is available at http://naregroup.com.

CONTACTS:

  

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

AMY SANDS

IL Lic. #475.138622

HFF Senior Director

(312) 528-3650

asands@hfflp.com

CLINTON MITCHELL

HFF Senior Director

(312) 528-3650

cmitchell@hfflp.com

HFF announces $185 million sale of Renaissance Vinoy Resort & Golf Club St. Petersburg, FL

Renaissance Vinoy St. Petersburg Resort & Golf Club, Downtown St. Petersburg, FL

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $185 million sale of the Renaissance Vinoy St. Petersburg Resort & Golf Club, a 362-room, waterfront resort that includes an 18-hole golf course in downtown St. Petersburg, Florida.

The HFF team marketed the hotel on behalf of the seller, RLJ Lodging Trust.

Interior of Renaissance Vinoy St. Petersburg Resort & Golf Club, Downtown St. Petersburg, FL

Listed on the National Register of Historic Places, the iconic pink Mediterranean Revival hotel was originally constructed in 1925 and has been transformed several times throughout its life, including its rebirth in 1992 as a hotel and the on-going, $50 million renovation and expansion of the hotel and the Vinoy Club, one of the most exclusive memberships in Tampa Bay. 

Alexandra Lalos

The Vinoy hotel features more than 32,000 square feet of indoor meeting and event space; a 74-slip marina; 12 tennis courts; an 18-hole, 71-par golf course on Snell Island; the Vinoy Clubhouse and pro shop; and two resort-style pools. 

Daniel C. Peek

 Food and beverage outlets at the Renaissance Vinoy St. Petersburg Resort & Golf Club include Marchand’s Bar & Grill, the recently-opened Paul’s Landing Marina Grill, the Vinoy Club Golf Grill on Snell Isle, the Lobby Bar and Veranda Café. 

The HFF investment advisory team representing the seller included senior managing director and head of HFF’s hotel group Daniel C. Peek, director Preston Reid, managing director Max Comess, senior managing director Roland Merchant, director Alexandra Lalos and associate Wyatt Krapf.

“The Renaissance Vinoy is an iconic asset in the Florida resort market, and the repositioning begun by RLJ Lodging Trust will position it to continue its dominant presence in the Tampa Bay region for decades to come,” Peek said.  “All of us at HFF were pleased to work with the great team at RLJ.”

Preston Reid

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focused on owning premium-branded, focused-service and compact full-service hotels. 

Max Comess

DANIEL C. PEEK

FL Lic. # SL3230371

HFF Senior Managing Director

(212) 245-2425

dpeek@hfflp.com

PRESTON REID

FL Lic. #SL3333915  

HFF Director

(813) 387-9900

preid@hfflp.com  

Roland Merchant

MAX COMESS

FL Lic. #3301836

HFF Managing Director

(305) 448-1333

mcomess@hfflp.com

ALEXANDRA LALOS

FL Lic. #SL3361476

HFF Director

(305) 448-1333

alalos@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

http://rljlodgingtrust.com.

HFF announces the $14.42 million sale of Nashville-area retail center

Mallory Corners, Brentwood, TN

 ATLANTA, GA – – Holliday Fenoglio Fowler, L.P. (HFF) announces the $14.42 million sale of Mallory Corners, a 70,000-square-foot community shopping center in the Nashville suburb of Brentwood, Tennessee.

Jim Hamilton

The HFF team marketed the property on behalf of the seller, the estate of Charles S. Ackerman, under advisement from Atlanta-based Ackerman & Co.  Longpoint Realty Partners, LP purchased the asset.

Anchored by Barnes & Noble and Electronic Express, the 96-percent-leased Mallory Corners is also home to Brilliant Sky Toys & Books, Sprint, Hoover Paint, AAA Autoclub and Play it Again Sports. 

 The center is at 1701 Mallory Lane on a highly trafficked and signalized intersection that exposes the center to more than 37,500 vehicles per day in the affluent Cool Springs submarket, one of the densest and most highly sought-after corridors for retailers due to its limited available space and high barriers to entry. 

Shea Petrick

 The center has easy access to Interstate 65, the main artery connecting Nashville to Birmingham, and is about 16 miles south of downtown Nashville.  More than 95,079 residents earning an average annual household income of $169,284 live within a five-mile radius of Mallory Corners.

The HFF investment advisory team representing the seller included senior managing director Jim Hamilton and analyst Shea Petrick.  

Leo Wiener with Ackerman Retail, a division of Ackerman & Co., is acting as an advisor to the estate of Charles S. Ackerman.

Leo Wiener

Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast.  

The company, founded in 1967, retains an expert team of more than 100 real estate professionals.  

To date, Ackerman & Co. has developed and acquired 35 million square feet of office, medical, industrial, retail and mixed-use space, has eight million square feet under management and maintains an investment portfolio valued at $1 billion. 

Dwight Angelini

Longpoint Realty Partners, LP (“Longpoint”) is a real estate private equity firm and Registered Investment Adviser with its headquarters in Boston, Massachusetts.

 The firm focuses on maximizing risk adjusted returns by employing a fundamental value strategy to real estate investing.  Longpoint seeks to take advantage of secular changes in consumer behavior by acquiring “last mile” industrial and infill retail properties. 

 Founding Partners Dwight Angelini, Nilesh Bubna, Reid Parker and Robert Provost have worked together for the better part of 10 years and have successfully navigated multiple market cycles.  Visit for more information.

CONTACTS:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

JIM HAMILTON

TN Lic. #320889

HFF Senior Managing Director

(404) 832-8460

jhamilton@hfflp.com

www.ackermanco.com.
 http://www.longpoint.com

HFF announces $56 million refinancing of the Baltimore Washington Logistics Center in Jessup, MD

Daniel McIntyre

WASHINGTON, DC –– Holliday Fenoglio Fowler, L.P. (HFF) announces a $56.325 million refinancing for the Baltimore Washington Logistics Center, a two-building, Class A industrial complex totaling 1,013,728 square feet in Jessup, Maryland. 

The HFF team worked on behalf of the borrower, a joint venture between AEW Capital Management, L.P. and Columbia-based Manekin, LLC, to secure the loan through Citizens Bank.

The Baltimore Washington Logistics Center is located at 7600 and 7540 Assateague Drive in the heart of the Baltimore-Washington Corridor. 

This location has excellent access to U.S. Route 1, U.S. Interstate 95 and the Baltimore Washington Parkway (Route 295), three of the Mid-Atlantic region’s primary thoroughfares. 

Fred Wittmann

Additionally, the property is not far from BWI Thurgood Marshall Airport and the Port of Baltimore.  7600 Assateague Drive is a vacant warehouse/distribution building totaling 853,503 square feet. 

Building II (7540 Assateague Drive) is a 160,255-square-foot, refrigerated warehouse/distribution building that is fully leased to G Cefalu & Bro, a leading food service distributor of produce and seafood in the Mid-Atlantic region.

The HFF debt placement team representing the borrower included senior director Daniel McIntyre, senior managing director Fred Wittmann and managing director Greg LaBine.

CONTACTS:

DANIEL MCINTYRE

HFF Senior Director

(202) 533-2500

dmcintyre@hfflp.com

GREG LABINE

HFF Managing Director

(617) 338-0990

glabine@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

aew.com.

manekin.com 

HFF announces acquisition financing for Charlotte, NC retail strip center

Seneca Place, 5033 South Boulevard, Charlotte, NC

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announces financing for the acquisition and renovation of Seneca Place, a 41,310-square-foot retail strip center and outparcel pad located in Charlotte, North Carolina.

The HFF team worked on behalf of the borrower, Charlotte-based New Forum, to place the floating-rate loan with Ready Capital Structured Finance. 

Cory Fowler

Seneca Place comprises a 34,710-square-foot retail strip center and a 6,600-square-foot outparcel pad that features a diverse mix of tenants. 

Through a thoughtful renovation plan, New Forum plans to increase occupancy by attracting a contemporary tenant mix that will reposition the property as experiential retail. 

 Situated on 4.21 acres at 5033 South Boulevard, Seneca Place in the heart of the rapidly growing Madison Park, Montclaire and Archdale communities and is approximately three miles northwest of South Park and seven miles south of Uptown Charlotte. 

 More than 91,700 residents earning an average household income of $103,279 live within a three-mile radius of the center.

The HFF debt placement team representing the borrower consisted of senior director Cory Fowler.

CONTACTS:

CORY FOWLER

HFF Senior Director

(704) 526-2800

cfowler@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

 https://www.newforum.net 

https://www.waterfallam.com