Property Type

HFF Secures $24.8M Financing for Retail Center in Washington

by Nellie Day October 13, 2015

VANCOUVER, WASH. — Holliday Fenoglio Fowler (HFF) has arranged $24.8 million in proceeds to finance Hazel Dell Towne Center, a 264,191-square-foot retail center located in Vancouver, Wash. Bruce Ganong, Casey Davidson and Brandon Roth of HFF worked on behalf of the sponsor, Pine Tree Commercial Realty LLC, to place the five-year, floating-rate loan with East West Bank. Tenants at the center, which is 84 percent leased, include Kohl’s, Bed Bath & Beyond, Petco, Office Depot, Party City, Payless ShoeSource and Supercuts.

October 13, 2015

California Retail Western

Newmark Grubb Knight Frank Arranges $8.3M Sale of Mixed-Use Property

by Nellie Day October 13, 2015

CORONA DEL MAR, CALIF. — Newmark Grubb Knight Frank (NGKF) has arranged the $8.36 million sale of two fully-occupied, two-story retail/office buildings totaling 11,526 square feet in Corona Del Mar. Ian Brown of NGKF represented the seller, Masters Properties, and the buyer, 39 Beach View LK100 LLC, in the all-cash transaction.

October 13, 2015

California Retail Western

Ross Stores Inc. Opens 26 New Locations in 14 States

by Nellie Day October 13, 2015

DUBLIN, CALIF. — Dublin, Calif.-based Ross Stores Inc. opened 19 Ross Dress for Less locations and seven dd’s DISCOUNTS locations across 14 states in September and October. These new locations completed the company’s 2015 expansion plan to add a total of 90 stores during the year.

October 13, 2015

Arizona Multifamily Student Housing Western

Legacy Partners Receives Approval to Build University Village Near Arizona State

by Nellie Day October 13, 2015

TEMPE, ARIZ. — Legacy Partners Residential has received city approval for the development of University Village 2.0, a new $60 million mixed-use, 775-bed student housing community near Arizona State University in Tempe. Located directly adjacent to Tempe’s light rail line, University Village 2.0 will replace a 1960s-era student housing complex, which will be demolished. KTGY is the project’s designer and architect. University Village 2.0 will feature 260 units and include studio, one-, two- and four-bedroom units. The community will also include 1,800 square feet of ground-level retail space. The units will range in size from 445 square feet to approximately 1,400 square feet and feature high-end finishes, stone countertops, stainless steel kitchen appliances, vinyl wood-plank flooring and in-unit washers and dryers. The majority of the units will feature the four-bedroom floor plans. The development will include multiple indoor and outdoor amenities, including a resort-style pool with beach entry, outdoor jumbo TV, sand volleyball court, fitness center and clubroom spaces. University Village 2.0 will consist of a single, five-story apartment building wrapped around two central courtyards and a parking garage. Legacy Partners plans to start demolition and construction on University Village 2.0 by summer 2016, and open for the fall 2018 semester.

October 13, 2015

California Retail Western

Safeco Acquires Retail Property Occupied by Food 4 Less for $22.5M

by Nellie Day October 13, 2015

FULLERTON, CALIF. — Safeco has acquired 914 West Orangethorpe Ave., a 79,898-square-foot retail property occupied by Food 4 Less in Fullerton, for $22.5 million. Heslin Holdings Inc. and Becker Development had jointly owned the property. The Food 4 Less lease extends through March 2026.

October 13, 2015

Loans Michigan Midwest Retail

Bernard Financial Arranges $4.3M Loan for Retail Property in Traverse City, Mich.

by Christina Cannon October 13, 2015

TRAVERSE CITY, MICH. — Bernard Financial Group has arranged a $4.3 million loan for Airport 31 Retail Center. The 65,000-square-foot space is located in Traverse City. Airport 31 LLC is the borrowing entity. Assurity Life Insurance Co. is the lender, and Bernard Financial Group will service the loan. Dave Dismondy of Bernard Financial originated the loan.

October 13, 2015

Michigan Midwest Retail

Mid-America Negotiates Two Retail Leases Totaling 28,146 SF in Michigan

by Christina Cannon October 13, 2015

JACKSON AND GRAND RAPIDS, MICH. — Mid-America Real Estate-Michigan has negotiated two retail leases totaling 28,146 square feet. Party City has inked a deal for a 25,746-square-foot freestanding building located at 1510 North West in Jackson. The lease term is for 10-years. Brad Rosenberg, Tony Schmitt and Adam Goodman of Mid-America represented Party City in the transaction. CBRE represented the landlord who is undisclosed. Potbelly Sandwich Shop signed a 10-year, 2,400-square-foot lease in Knapp’s Crossing in Grand Rapids. Rosenberg and Goodman represented Potbelly. The landlord in the transaction is undisclosed.

October 13, 2015

Midwest Office Retail Wisconsin

Siegel-Gallagher Arranges Two Leases Totaling 8,078 SF in Wisconsin

by Christina Cannon October 13, 2015

WAUKESHA AND WAUWATOSA WIS. — Siegel-Gallagher has arranged two leases totaling 8,078 square feet in Southeast Wisconsin. Flexible Finance of Wisconsin LLC has leased 1,500 square feet of retail space from Garni Properties WI LLC. Sunset Retail Center is located at 530 W. Sunset Drive in Waukesha, approximately 20 miles west of Milwaukee. Devin Tessmer and Shaun Dempsey of Siegel-Gallagher arranged the transaction. In a separate leasing deal, Saint A Inc. will occupy 6,578 square feet of office space at the Forum, located at 3333 N. Mayfair Road in Wauwatosa, a western suburb of Milwaukee. Mayfair LLC is the landlord. Dan Walsh and John Dulmes of Siegel-Gallagher arranged the transaction.

October 13, 2015

Michigan Midwest Multifamily

Hunter Pasteur Homes Breaks Ground on 92-Unit Condominium Complex in Ann Arbor

by Christina Cannon October 13, 2015

ANN ARBOR, MICH. — Hunter Pasteur Homes recently broke ground on a new condominium community in Ann Arbor. Arbor Chase will consist of 12 buildings with a total of 92 condominiums. Each building will feature up to eight units with sizes ranging from 1,290 square feet to 1,550 square feet. Each unit will include two bedrooms and up to two-and-a-half baths. Amenities include private entrances, private parking, updated flooring, granite countertops, tiled showers and studio ceilings on the second floor. Sales prices range from $225,000 to $255,000 per unit. Completion of the first buildings is slated for early 2016.

October 13, 2015

Loans Retail Texas

Transwestern Brokers Sale, Financing for Shopping Center in Metro Houston

by Haisten Willis October 13, 2015

PASADENA, TEXAS — Transwestern’s Houston headquarters has brokered the sale of Fairmont Parkway Shopping Center. An undisclosed South American buyer acquired the 172,002-square-foot power center located at the intersection of Beltway 8 and Fairmont Parkway in Pasadena for an undisclosed price. Micha van Marcke, Paul Barile, Janice Sellis and Chace Henke of Transwestern represented the seller, A-S 82 Fairmont Parkway — Beltway 8 LP. Jan Sparks, Michael Snodgrass and Tim Bennett of Transwestern secured the debt for the buyer. Fairmont Parkway Shopping Center is located in a regional retail hub for Pasadena and communities such as Deer Park and La Porte. The area consists of 1 million square feet of retail. Fairmont Parkway Shopping Center’s tenants include 24-Hour Fitness, iT’Z Family, Comerica Bank, Goodwill, Pei Wei and Food & Fun. The property was 96 percent occupied at the time of sale.

October 13, 2015

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