Madison Capital’s Post

Just Closed: Retail Strip on 27th Avenue | 27 Parking Spaces | T6-8-O Zoning CLOSING HIGHLIGHTS *Sold at 98% of List Price *Procured Multiple Competitive Offers *Negotiated Favorable Owner Financing for Both Parties INVESMENT HIGHLIGHTS *Retail Strip Center Situated on a Double Lot with Left Turn In *Development Potential: The Property is Zoned T6-8-O allowing the construction of an eight-story, 65-unit residential building with Current Income in place. *Short Term Leases: 5 of 6 Tenants Leases Have Expired or Expire Within Nine Months, offering flexibility for potential investors to reposition or redevelop the property as desired *27 Parking Spaces – 3.5 Spaces Per 1,000 SF *All Tenants Separately Metered for Water & Electric *Improvements: Silicone Seal Applied to the Roof & Building was Repainted *Second Generation Restaurant (Equipped with Hood & Grease Trap)

**Seattle, WA – May 16, 2024** – Victory Lane Brokerage, a key player in Seattle’s commercial real estate scene, proudly announces the successful conclusion of its latest mid-rise development in the Northgate area. The project, Northgate 100, marks a significant milestone in enhancing lifestyle apartment offerings in the region. **Northgate 100 Development:** Northgate 100 features 80 residential units and 2 retail stores, with potential expansion to 90 units and 75 parking spaces. Initially conceived as a modular construction project, Victory Lane Brokerage meticulously navigated planning and negotiation to bring this vision to fruition. Collaborating with esteemed modular architects JacksonMain, Northgate 100 sets new standards in cost-effective construction and rapid occupancy timelines. Victor J. Hernandez, Owner of Victory Lane Brokerage, emphasizes the significance of modular mechanics in development. “The future of nearly any type of development use will be dominated by modular mechanics and construction. It is a high core competency, high-performance field, but the long-term growth potential is undeniable,” says Hernandez. The site currently hosts two leased buildings, generating significant monthly revenues. With innovative parking solutions and prime zoning, Northgate 100 promises to be a high-profile, cutting-edge addition to the urban landscape. **Prime Investment Opportunity: Pinehurst Retail Building** Victory Lane Brokerage also presents the Pinehurst Retail Building, a premier commercial real estate opportunity in Northgate, Seattle. Listed at $2,975,000, this versatile space offers strong potential returns and a strategic foothold in a thriving commercial hub. **Key Features:** - **Price:** $2,975,000 - **Size:** 5,656 SF on a 16,259 SF lot - **Net Operating Income (NOI):** $78,830 - **Cap Rate:** 2.65% - **Zoning:** NC2-55 (M), ideal for mid-rise development The Pinehurst Retail Building features a distinctive half-barrel roof, expansive open floor plan, dual ADA restrooms, and a long-standing food truck tenant, adding an attractive cash flow component. **Contact Information:** For more details, contact Victor J. Hernandez at (206) 245-0159 or via email at viccipe@gmail.com. **Watch the Video Tour:** https://lnkd.in/e3CWcEmQ **Hashtags:** #CommercialRealEstate #SeattleRealEstate #InvestmentOpportunity #RetailSpace #NorthgateSeattle #PropertyForSale #RealEstateInvestment #DevelopmentOpportunity #VictoryLaneBrokerage

Exciting changes are happening in retail spaces across the country, and Long Island is no exception. The Ridge Hill shopping center in Yonkers is being reimagined by North American Properties, focusing on enhancing public spaces and creating a more pedestrian-friendly environment. Similarly, on Long Island, we are seeing a shift towards creating vibrant, community-focused retail areas that attract both businesses and consumers. As we navigate these changes, it’s clear that the future of retail is about more than just shopping—it’s about creating experiences and building communities. #NAILongIsland #RetailRevolution #CommercialRealEstate #LongIsland #CommunityBuilding #RealEstateTrends

🚨 After 30 years, LL Flooring is closing its doors, bringing 3.2 million square feet of retail space and a Virginia distribution center to market. Initially planning to liquidate, a last-minute deal with F9 Investments will keep 219 stores open—but 305 locations are still expected to close. As these shifts unfold, our team is closely monitoring the opportunities emerging from this transition. With strong leasing demand and fewer new developments on the horizon, there are valuable options for those ready to pivot. Need guidance on navigating these changes? We’re here to help. Reach out to explore your options. Colliers #CRE #RetailRealEstate #MarketOpportunities #CREstrategy

🔔 Listing Update! 🔔 BKREA has been exclusively retained to arrange for the sale of 28-30 West 37th Street (“The Property”), a vacant commercial building spanning 10,281 SF. Located on the south side of West 37th Street between Fifth and Sixth Avenues in Midtown, one of the most coveted commercial hubs in Manhattan. The existing 2-story structure was built in 1996 and sits on a 4,758 SF lot and boasts approximately 50’ of frontage. The property currently comprises three identical ground-floor retail units and one contiguous space above them on the second floor. Each ground-floor retail unit also includes a mezzanine space. The ground floor boasts approximately 22-foot ceiling heights, while the second floor offers 10-foot ceiling heights. With the property currently vacant, a prospective user buyer could promptly occupy the premises and enjoy the benefits of ownership. Beyond its immediate user potential, 28-30 West 37th Street holds appeal for value-add investors who could refurbish the commercial spaces to attract tenants. Additionally, thanks to the advantageous M1-6 zoning, there's potential for a developer to demolish the existing structure and construct a new building, leveraging a 10 FAR for a total as-of-right ZFA of 47,580. Furthermore, with Mayor Eric Adams' proposed "Midtown South Mixed-Use Plan" rezoning, there's the possibility of future residential development. 28-30 West 37th Street is an amazing opportunity due to its favorable Midtown location. Local cultural amenities within walking distance to the property include the Empire State Building, Bryant Park, and the original Macy’s. 7 West 36th Street also benefits from direct access to a multitude of subway lines including the 1, 2, 3, A, C, E located at Penn Station, B, D, F, M, N, Q, R, W lines located at 34th Street Herald Square and the 4, 5, 6, 7, S located at Grand Central Station. ✉️ DM, email, call, or text us to learn more! Link below to the listing in the comments. ⬇️ #NYC #BKREA #commercialrealestate

Just Listed! Rare Value Add Retail Strip Center | 100% Leased | Significantly Below Market Rent | Tenants Approaching Term Rollover Museum Plaza is a 24,692 SF, 7-unit strip center in Conway, AR. This is a significant value-add opportunity as all leases are approaching expiration and are significantly below market rent. The average in-place rent is $9.48 PSF on gross leases while the low side of market rent for the area is $12 PSF on triple net leases. If you have any questions, please feel free to reach out to me or Erik Vogelzang. Hunter Lambert Max Kinsbruner #realestate #stripcenter #investing #investmentproperty #commercialrealestate #cre #realestateinvestment #realestateinvestor #matthews

For those looking to get a read on Washington, D.C.’s commercial real estate market rather than the race to occupy the White House, the focus is less on polls and more on construction cranes, leasing activity and retail foot traffic: https://lnkd.in/eF3jgn5T #ICSC #Marketplaces #Retail #RealEstate

"$18.6M Sale of Mixed-Use Project in Charlotte's Office and Retail Sector" Read the full article below..

The most interesting article I read this past week was this retail industry The Wall Street Journal article on Brookfield’s big bet to redevelop their mall portfolio across the country. It was also discussed at length during by Lonnie Hendry, CRE, Hayley Keen and Stephen Buschbom during the always fantastic Trepp, Inc. podcst that I listened to over the weekend. As the Trepp team noted, while these projects may not have come together as quick as had been initially hoped, it seems a bit too soon to say this plan falls short as there is a really good play here and it is one that others have proven, it just takes time. As a CRE lawyer, we unfortunately know all about that because in addition to government approvals, parties need to work with lenders, tenants, ultimate end users/operators and oftentimes adjacent property owners to make these types of redevelopments come together. Our Frost Brown Todd team has done this type of work for all such stakeholders and it isn’t easy. Our zoning lawyers like Tanner Nichols have worked on these for large shopping center clients. My Partner Christina Sprecher has done this work for some large national tenants and discussed the challenges that shopping center CC&Rs and REAs create for these redevelopments at the ICSC National Law Conference just last year. I have had the chance to work with both lenders and adjacent property owners in doing this type of work. There are simply so many parties that have to sign off on these types of projects that it takes time, grit and a focused project management mentality to consistently stay on track with goals and objectives in a manner that isn’t easy and unfortunately is almost always more costly than originally anticipated because of the amount of time involved. The reality though is that the outcomes can be both truly transformational, like what we have seen recently in Louisville with Topgolf starting what has become a true game changer for the Oxmoor Mall, but also a meaningful improvement with a Hilton Garden Inn changing the dynamic of the Mall St. Matthews. #LFGMonday #CRE #Retail #redevelopment #letsgetfrosty

LA Real Estate Weekly Roundup: 💸 FARING secured $35 million in debt to refinance Faring's proposed 400k SF Robertson Lane retail and hotel project in West Hollywood. The land in question sits at 645-681 N Robertson Blvd and spans 1.94 acres. Currently, plans for the mixed-use development center around a design from architecture firm HKS, Inc. include a 123-room hotel, 7-story office tower with retail space, underground parking, along with the adaptive reuse of the Factory Building, which was built circa 1929. 💰 Optimus Properties, LLC sold a single-tenant office building spanning about 61K SF in the South Bay to Rose Equities, which plans to demolish the office and replace it with apartments. Optimus purchased the office property in 2019 for approximately $15.8M. The building and the 5.5 acres it sits on sold off-market to Rose Equities for $30.6M. ▶ TTM Real Estate Capital purchased the 250k SF outdoor shopping center HHLA Entertainment Center for $80 million last year and is planning a $150 million plan to revamp the center located at 6081 Center Drive next to Playa District, the 1.4 million SF office campus. #cre #commercialrealestate #development #retail #refinancing