Property Type

Hoar Construction Completes Renovation, Expansion of Oxmoor Center Mall in Louisville

by John Nelson April 27, 2023

LOUISVILLE, KY. — Hoar Construction has completed the 25,000-square-foot renovations on the southern wing of Oxmoor Center, a regional mall in east Louisville. The project, which also included a 30,000-square-foot addition and 27 acres of surface parking, is on the site of the mall’s former Sears that closed in 2018. Replacing the former department store is a recently opened Topgolf and nine new tenant shell spaces. Hoar’s project team included Strong Tower Exterior Envelope Wall Systems, Louisville Paving & Construction Co. and Hobbs+Black Architects. Owned by Brookfield Properties, Oxmoor Center spans nearly 900,000 square feet and features retailers including Macy’s, Dick’s Sporting Goods, Von Maur, The Lego Store, Apple and Sephora, among others.

April 27, 2023

Acquisitions Florida Retail Southeast

IPA Brokers $12.1M Sale of Southwood Shops in Metro Tampa

by John Nelson April 27, 2023

BRADENTON, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $12.1 million sale of Southwood Shops, a 107,697-square-foot shopping center located in the Tampa suburb of Bradenton. Kirk Olson and Drew Kristol of IPA represented the seller, an entity doing business as Bradwood Shopping Center Co. Ltd., and procured the buyer, a Miami-based partnership doing business as Southwood Shops LLC. Built in 1981 at the intersection of 14th Street and 57th Avenue, Southwood Shops was fully leased at the time of sale to tenants including grocery anchor Winn-Dixie.

April 27, 2023

California Development Retail Western

Wood Investments to Convert Former Kmart into 80,000 SF Shopping Center in Big Bear Lake, California

by Jeff Shaw April 27, 2023

BIG BEAR LAKE, CALIF. — Wood Investments Cos. has purchased a former Kmart building in Big Bear Lake, with plans to develop an 80,000-square-foot shopping center. Upon completion, Big Bear Lake Shopping Center will be subdivided into three individual anchor suites. A 17,193-square-foot Grocery Outlet will anchor the property. Another retailer has signed a 23,228-square-foot lease at the property, and a third tenant is in negotiations to lease a 23,228-square-foot space. Construction is scheduled to begin in the fourth quarter of this year, with the opening scheduled for March 2024. Charley Simpson of Colliers International represented Wood in the purchase. Nick Wirick, Chris Beauchamp and Miranda Montgomery of Lee & Associates are handling leasing at the center.

April 27, 2023

Acquisitions California Retail Western

Hanley Arranges $6.4M Sale of Planet Fitness-Occupied Property in Ventura, California

by Jeff Shaw April 27, 2023

VENTURA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $6.4 million sale of a single-tenant property in Ventura. Planet Fitness occupies the newly renovated, 24,600-square-foot building on a triple-net-lease basis. Bill Asher, Jeff Lefko and Ed Hanley of Hanley represented the seller, an affiliate of MJL Capital Partners. Brian Hughes of M&M Thrift Management Co. represented the buyer, a Ventura-based private investor.

April 27, 2023

Acquisitions California Industrial Western

Frontier Enterprises Sells Industrial Facility in Adelanto, California for $5.5M

by Jeff Shaw April 27, 2023

ADELANTO, CALIF. — Frontier Enterprises has sold a single-tenant, net-leased industrial asset at 9841 Bartlett Ave. in the Inland Empire city of Adelanto for $5.5 million. The 29,925-square-foot unit is fully leased by General Dynamics Information Technology. The aerospace and defense corporation recently signed a triple-net, three-year base term and annual increase with options to extend. It will occupy the space once it’s completed. Several units are still available that can be delivered in configurations ranging from 30,000 to 120,000 square feet. A 240,000-square-foot expansion to the park has already been approved and the developer is entertaining built-to-suit options for select buyers and tenants. Jim Root and Matthew Hardke of Graystone represented Frontier Enterprises, which was the original developer. The buyer was not disclosed.

April 27, 2023

Acquisitions Multifamily Washington Western

Marcus & Millichap Negotiates Sale of Apartment Portfolio in Spokane, Washington for $2.5M

by Jeff Shaw April 27, 2023

SPOKANE, WASH. — Marcus & Millichap has arranged the sale of a 17-unit apartment portfolio in Spokane. An unnamed buyer acquired the assets for $2.5 million. The three-property portfolio is located at 212-218 W 7th Aven. and 45 E 8th Ave. Each of the apartment buildings are two-story, garden-style assets. Most of the units have been renovated with new floors, countertops, appliances and fixtures. The buyer intends to hold the property long term. Georgie Christensen-Riley and Joshua C. Reynolds of Marcus & Millichap’s Portland office marketed the property on behalf of the undisclosed seller. Joel Deis assisted in securing the buyer.

April 27, 2023

Acquisitions Multifamily Washington Western

Kidder Matthews Brokers Sale of Pioneer Pathway House Apartments in Spokane, Washington

by Jeff Shaw April 27, 2023

SPOKANE, WASH. — A local investor has acquired the 39-unit Pioneer Pathway House Apartments in Spokane for $1 million. The community is located at 224 S. Howard St. It is designated as a low-income, affordable housing complex. The majority of units are SRO (single-room occupancy), dorm-style, private living spaces with shared bathrooms. Max Frame of the Simon and Anderson Team, a multifamily investment team at Kidder Mathews, represented the seller. They were the only brokers involved in the transaction.

April 27, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 765,798 SF Industrial Lease in Terrell, Texas

by Taylor Williams April 27, 2023

TERRELL, TEXAS — Lee & Associates has negotiated a 765,798-square-foot, full-building industrial lease in Terrell, located on the eastern outskirts of Dallas. According to LoopNet Inc., the building at 301 Apache Trail was constructed on 39.6 acres in 1999 and features 34-foot clear heights and 144 parking spaces. Ken Wesson and Michael Giuliano of Lee & Associates represented the undisclosed landlord in the lease negotiations. Dan Lawson of Proterra Properties represented the tenant, e-commerce technology and consulting firm Cart.com.

April 27, 2023

Development Multifamily Texas

Wood Partners to Develop 650-Unit Multifamily Project in Bastrop, Texas

by Taylor Williams April 27, 2023

BASTROP, TEXAS — Atlanta-based multifamily developer Wood Partners has acquired 26 acres in Bastrop, about 30 miles east of Austin, for the construction of a 650-unit project. The site is located within a larger mixed-use development by Houston-based Pearl River Cos. John Baird, Michael Kennedy and Sullivan Johnston of Avison Young represented Pearl River Cos. in the disposition of the land. Wood Partners plans to break ground in the coming weeks and expects for construction to last 24 to 36 months. Information on floor plans and amenities was not disclosed.

April 27, 2023

Acquisitions Industrial Texas

M2G Ventures, Blue Vista Capital Buy 54,000 SF Industrial Property in Austin

by Taylor Williams April 27, 2023

AUSTIN, TEXAS — A partnership between North Texas-based developer M2G Ventures and Chicago-based Blue Vista Capital Management has purchased a 54,000-square-foot industrial property in Austin. The seller was not disclosed. The new ownership plans to add value to the property by enhancing the landscaping and office space, adding new signage, painting the building and extending the truck court. Leigh Ellis, Will Sikora and Chris Perry of locally based brokerage firm AQUILA Commercial negotiated the sale and will also market the property for lease.

April 27, 2023

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