REBusinessOnline

Joint Venture Revives Toys ‘R’ Us Brand, to Open Two New Stores Before Christmas

PARSIPPANY, N.J., AND SAN FRANCISCO — One of the recently fallen retail giants is poised to make a return less than two years after its demise. Tru Kids Brands, the Parsippany-based parent company of Toys ‘R’ Us, and b8ta, a San Francisco-based experiential retail firm, have announced plans to bring back Toys ‘R’ Us stores to the United States. The retailer announced in March 2018 that it was declaring bankruptcy and would start an “orderly wind down” and close its 735 …

Charming Charlie Declares Second Bankruptcy, Will Close All 261 Stores

HOUSTON — Charming Charlie, a women’s fashion and beauty chain based in Houston, filed for Chapter 11 bankruptcy on Thursday. It is the second time the retailer known for its colorful displays of jewelry, handbags, apparel and beauty products has filed for bankruptcy in less than two years. The company now plans to close all 261 of its remaining stores across 38 states. The retailer’s first filing was in December 2017, and the financial restructuring was completed the following April. …

Newmark Knight Frank Brokers $305M Sale of 901 Fifth Office Tower in Seattle

SEATTLE — Newmark Knight Frank (NFK) has brokered the $305 million sale of 901 Fifth Office Tower, a 41-story, 541,190-square-foot property at the corner of Fifth Avenue and Madison Street in downtown Seattle. NKF’s Kevin Shannon, Nick Kucha, Michael Moll, Rob Hannan and Ken White represented the seller, a partnership of Schnitzer West and Investcorp, in the transaction. HFF represented the buyer, Vanbarton Group. 901 Fifth Office Tower encompasses nearly a full city block and is 100 …

CRA, The Roxborough Group Sell Las Vegas Multifamily Portfolio for $137.5 Million

LAS VEGAS — Continental Realty Advisors (CRA) and The Roxborough Group have sold a three-community multifamily portfolio spanning 1,194 units in Las Vegas. The price was $137.5 million. The buyer was not disclosed. The Las Vegas portfolio includes: the 440-unit Stonegate Apartments, which was constructed in 1991; the 402-unit Loma Vista Apartments, constructed in 1998; and the 352-unit Viridian Palms (formerly Stonegate West) constructed in 1990. In recent years, the sellers invested over …

KBS Starts $20M Renovation of Union Bank Plaza in Los Angeles

LOS ANGELES — KBS Real Estate Investment Trust II has launched a $20 million renovation of Union Bank Plaza (UBP) in downtown Los Angeles. Improvements will include an updated retail center, conference center, outdoor seating area and lobby. The property is located at 445 S. Figueroa St. In addition to the building renovation, KBS has embarked on a spec suite program, building out tenant suites without a committed tenant. Of the first eight suites currently under construction, two have been …

Loja Real Estate Acquires Pair of Western Shopping Centers for $34.4M

LITTLETON, COLO., AND WOODINVILLE, WASH. — Loja Real Estate has acquired two shopping centers in Colorado and Washington for a combined $34.4 million. Loja purchased Village West in the Denver suburb of Littleton for $19.4 million. TJ Maxx anchors the property. Palmer Capital represented the unnamed seller in the transaction. Loja bought Woodgate Center in the Seattle-area city of Woodinville for $15 million. Capital Pacific represented the unnamed seller in the …

Marcus & Millichap Arranges $3M Sale of Vacant Auto Dealership in Inland Empire

VICTORVILLE, CALIF. — Marcus & Millichap has arranged the $3 million sale of a vacant, 21,108-square foot auto dealership in Victorville. Drew Wetherholt and Emily Brun of Marcus & Millichap’s Ontario office marketed the property on behalf of the seller and secured and represented the buyer, both limited liability companies. The dealership is located at 14673 Civic

George Smith Partners Arranges $460M Construction Loan for Five-Star Portland Hotel

PORTLAND, ORE. — George Smith Partners has secured a $460 million construction loan on behalf of BPM Real Estate Group (BPM) for Block 216, a planned 1.1 million-square-foot mixed-use project in downtown Portland. The project was announced in June. Ritz-Carlton will anchor the 35-story tower, offering the first five-star hotel in the state of Oregon. An affiliate of Mosaic Real Estate Investors funded the four-year loan. George Smith Partners’ Malcolm Davies and Zachary Streit, along with …

Alliance Residential to Develop Assisted Living Community Near Seattle

BELLEVUE, WASH. — Alliance Residential Co. is entering into the Bellevue market with a new construction senior living community to open in 2021. The property, Holden of Bellevue, will be a 136-unit assisted living and memory care facility located at 112th Ave. NE in Bellevue’s Highlands community. Architecture firm Ankrom Moisan designed the mid-rise building, and Alliance Pacific Northwest Builders was the general …

Goodman Group Acquires Pair of Southern California Industrial Properties Totaling 127 Acres

LOS ANGELES AND LONG BEACH, CALIF. — Goodman Group has acquired two industrial estates totaling 127 acres in Southern California. The acquisitions are the 90-acre former Boeing C-17 manufacturing plant in Long Beach, which has been renamed Goodman Commerce Center Long Beach, and a 37-acre former distribution center in Los Angeles renamed Goodman Commerce Center Los Angeles. Brett Hardy, Todd Anderson and Jeff Read of Newmark Knight Frank represented Boeing in the Long Beach deal. David …

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