Property Type

Colliers Negotiates $69.5M Off-Market Sale of Santa Clarita Shopping Center

by Nellie Day April 14, 2017

SANTA CLARITA, CALIF. — In an off-market transaction, Colliers International has negotiated the $69.5 million sale of Gateway Village Shopping Center in Santa Clarita. Michelle Schierberl and Donald Ellis of Colliers’ Irvine office brought the center’s seller, JH Real Estate Partners, and the buyer, private investment group Galois Group, together in the transaction. Built in 2005 and located at 28207-28313 Newhall Ranch Road, the 153,686-square-foot center is 95 percent occupied with one vacant space. Anchor tenants include LA Fitness, Smart & Final Extra, Coffee Bean & Tea, The Habit, US Bank and Lindora Medical.

April 14, 2017

Multifamily Nevada Western

Horizon Realty Advisors Buys Woodside Village Apartments in Reno

by Nellie Day April 14, 2017

RENO, NEV. — Horizon Realty Advisors LLC has acquired the 250-unit Woodside Village in Reno has sold to for an undisclosed sum. The community is located at 4800 Kietzke Lane. It is situated across the street from the Reno-Sparks Convention Center. Kenneth Blomsterberg, Ryan Rife and Benjamin Nelson of Marcus & Millichap represented the buyer and seller, Woodside Village Opco LLC, in this transaction.

April 14, 2017

California Multifamily Western

Apartment Complex in Reseda Sells for $4.4M

by Nellie Day April 14, 2017

LOS ANGELES — June Quest One LLC has acquired a 14-unit apartment complex in the Los Angeles submarket of Reseda for $4.4 million. The community is located at 7122 Amigo Ave. The property features high-end finishes and appliances in the units, gated parking, secure entrance and an elevator. It was built in 2013. Robert Stepp and Mark Witksen of Stepp Commercial represented the buyer. The Agency represented the seller, Amigo Properties.

April 14, 2017

California Retail Western

Shopping Center Redevelopment Will Bring New Sprouts Farmers Market to Glendora

by Nellie Day April 14, 2017

GLENDORA, CALIF. — Champion Real Estate Co. has begun converting an existing grocery property into a Sprouts Farmers Market at 655 S. Grand Ave. in Glendora. The grand opening of the 30,000-square-foot Sprouts is scheduled for May 18. Champion Real Estate acquired the freestanding former grocery property in 2016 and is investing $32 million in the reconfiguration of the 85,615-square-foot property into a 70,500-square-foot, grocery-anchored retail center. There are two new retail pads in the existing parking field, plus additional supporting retail to expand the tenant base. Completion of the full property is scheduled for July. The center has received commitments for 93 percent of the space with tenants including Marshalls, Coffee Bean and Tea Leaf. JLL’s Shauna Mattis, Elizabeth Hewson and Blake Kaplan are handling leasing at the center.

April 14, 2017

California Restaurant Retail Western

Lee & Associates Arranges $1.4M Sale of Restaurant Property in Poway

by Nellie Day April 14, 2017

POWAY, CALIF. — Lee & Associates has arranged the $1.4 million sale of a restaurant building located at 12717-12721 Poway Road in Poway. Victor Aquilina and Mario Martinez of Lee & Associates – North San Diego County represented the buyer, Pho Ca Dao, in the transaction. Mickey Roberts of Re/Max Associates represented the seller, Mogavero Giuseppa 1990 Family Trust. The acquisition of the 4,800-square-foot freestanding building is part of an expansion effort into Poway for Pho Ca Dao, which operates a chain of Vietnamese restaurants. Pho Ca Dao plans to renovate the current restaurant building.

April 14, 2017

Georgia Mixed-Use Southeast

Joint Venture to Break Ground on Studioplex on Auburn Project Along Atlanta BeltLine

by John Nelson April 14, 2017

ATLANTA — A joint venture between Columbia Ventures LLC and Studioplex LLC has broken ground on the next phase of Studioplex on Auburn, a mixed-use development in Atlanta’s Old Fourth Ward district. Fronting the Atlanta BeltLine near Krog Street Market, the 31,000-square-foot, $26 million project will feature 19 townhomes atop retail space. Retailers signed on at Studioplex on Auburn include Dancing Dogs Yoga, Beetnix Juice Bar, 18.21 Bitters and Hawkers Asian Street Fare. The joint venture opened a parking deck at the project in January and plan to add a new connection to the BeltLine, a 22-mile loop that will ultimately connect 45 intown neighborhoods through multi-use trails, parks and streetcars.

April 14, 2017

Florida Multifamily Southeast

Marcus & Millichap Arranges $44.3M Sale of Multifamily Portfolio in Daytona Beach

by John Nelson April 14, 2017

DAYTONA BEACH, FLA. — Marcus & Millichap has brokered the $44.3 million sale of a three-property, 736-unit multifamily portfolio in Daytona Beach. The properties include The Barrington, a 288-unit community built in 1974; Sutton Place, a 240-unit complex built in 1975; and Emerald Park, a 208-unit property built in 1985. Michael Donaldson and Nicholas Meoli of Marcus & Millichap’s Tampa office represented the seller, a private investor based in Illinois, in the transaction. The pair also procured the buyer, an investment firm based in Tampa.

April 14, 2017

Retail Southeast Virginia

Alamo Drafthouse Cinema to Open at Stonebridge at Potomac Town Center in Metro D.C.

by John Nelson April 14, 2017

WOODBRIDGE, VA. — The JBG Cos. has signed Alamo Drafthouse Cinema to open its second theater in northern Virginia at Stonebridge at Potomac Town Center in Woodbridge, roughly 23 miles south of Washington, D.C. Spanning eight screens and 865 seats, the dine-in movie theater chain will open next summer or early fall. JBG will develop a Town Square in front of the new theater that will include green space for events and typical park use. Austin-based Alamo Drafthouse Cinema operates 25 locations across the country, with four more to open in the near future. Other tenants at Stonebridge include Wegmans, Apple, Orvis, DSW, REI, Uncle Julio, South Moon Under, Brew Republic Bierwerks, Sushi Jim and BurgerFI.

April 14, 2017

Florida Retail Southeast

Sterling Adds Marshalls/HomeGoods, Ross, DSW, Five Below to Redevelopment Project in Metro Orlando

by John Nelson April 14, 2017

WINTER PARK, FLA. — Sterling Organization has signed four retailers to occupy space vacated by Kmart at Center of Winter Park, a 245,000-square-foot power retail center located at the southwest corner of Orlando Avenue and Lee Road in Winter Park, a suburb of Orlando. The retailers, including Marshalls/HomeGoods, Ross Dress for Less, DSW Designer Shoe Warehouse and Five Below, will occupy approximately 95,000 square feet at the redevelopment project. Kmart closed its 91,600-square-foot store in 2014, shortly after Sterling purchased the center through its Sterling Value Add Partners LP fund. Five Below will open a 9,000-square-foot location in a newly constructed store that previously housed the Kmart Garden Center. The other three retailers will be situated within the former Kmart store. In addition to re-tenanting the center, Sterling is underway on an overhaul of the center that includes new lighting, repaved parking lot, updated landscaping, new signage and a new façade. Existing businesses at the center, such as LA Fitness and Michaels, will remain open during construction, which is expected to wrap up in the fourth quarter of this year. Office Depot is also downsizing its store from 33,000 to 19,200 square feet.

April 14, 2017

Office Texas

Bank of America to Anchor 35-Story, Class A Office Development in Downtown Houston

by Taylor Williams April 14, 2017

HOUSTON — Bank of America has reached an agreement to lease six-and-a-half floors spanning 210,000 square feet of space at Capitol Tower, a 35-story, Class A office development located at 800 Capitol St. in downtown Houston. JLL represented Bank of America in the lease negotiations, which call for the company to lease 205,000 square feet of office space and 5,000 square feet of retail space, beginning in the first half of 2019. CBRE represented the building owner and developer, Skanska, in the transaction. Construction is scheduled to begin this month.

April 14, 2017

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