REBusinessOnline

SHOP Cos. Brokers Sale of Three Retail Properties Totaling 20,736 SF in Dallas Area

DALLAS, ALLEN AND FRISCO, TEXAS — SHOP Cos. has brokered the sale of three retail properties totaling 48,736 square feet in the Dallas area. The sold properties include the 12,153-square-foot Stacy Plaza in Allen; the 5,083-square-foot Sprint & Castle Spa in Frisco; and a 3,500-square-foot, single-tenant property in Dallas. Tommy Tucker, Tim Axilrod and Cameron Burk of SHOP Cos. represented the four different sellers in each transaction. All three buyers are based in

Stream Capital Partners Arranges $12M Sale of Walgreens Near Newark

SHORT HILLS, N.J. — Stream Capital Partners has arranged the $12 million sale of a Walgreens property in Short Hills, located about 25 miles west of Manhattan. Phil DiGennaro, Jordan Shtulman and Jonathan Wolfe of Stream Capital represented the undisclosed seller in the transaction. The buyer was a private investor. The 14,963-square-foot property has 19 years remaining on the triple-net lease, which expires in

Walnut Town & Country Retail Center in California Changes Hands for $10.7M

WALNUT, CALIF. — Faris Lee Investments has arranged the sale of Walnut Town & Country, a multi-tenant retail center located at 1205-1243 N. Grand Ave. in Walnut. A Northern California-based family trust acquired the property from an Oregon-based family trust for $10.7 million. Built in 1988, the 22,322-square-foot property is situated on 1.2 acres of land at the intersection of Amar Road and Grand Avenue. At the time of sale, the property was 95 percent occupied by a variety of …

HFF Brokers Sale of 7,000 SF Advance Auto Parts in Browns Mills, New Jersey

BROWNS MILLS, N.J. — HFF has brokered the sale of a 7,000-square-foot retail building leased to Advance Auto Parts in Browns Mills, about 40 miles east of Philadelphia. The sales price was not disclosed. HFF represented the seller, a family trust, in the transaction. A private investor purchased the property. Advance Auto Parts has occupied the building since 2004 and has six years remaining on the

Old Navy to Open at Outlets of Des Moines This Fall

ALTOONA, IOWA — Old Navy Outlet is set to open at the Outlets of Des Moines this fall. The men, women and kids clothing retailer will occupy 12,000 square feet. New England Development is the developer behind the 300,000-square-foot outlet center, which is located at 801 Bass Pro Drive near I-80. Current retailers at the property include LOFT Outlet, Nike Factory Store, Express Factory Outlet, Tommy Hilfiger and Under

Houlihan-Parnes Arranges $17M Refinancing for Independence Plaza in Central New Jersey

HAMILTON, N.J. — Houlihan Parnes Realtors has arranged a $17 million refinancing for Independence Plaza, a shopping center in Hamilton. Located at 2465 South Broad St., the center is currently 75 percent occupied with a tenant roster that includes Regal Cinemas, Crunch Fitness, Save-a-lot, and Dollar Tree. The property is owned by Samuel Jemal of JJ Operating Inc., which acquired the asset in 2014 for $7 million. The property was recently appraised for $28.5 million, according to Houlihan …

Marcus & Millichap Negotiates $3.1M Sale of Retail Property in Seattle

SEATTLE — Marcus & Millichap has brokered the sale of a retail property located at 5201 Ballard Ave. NW in Seattle. A limited liability company acquired the property from a private investor for $3.1 million. Built in 1905, the two-story building features 10,540 square feet of retail space. Brian Mayer and Clayton Brown of Marcus & Millichap's Seattle office represented the seller, while Mayer also represented the buyer in the

Boulder Group Arranges $5.2M Sale of Two Properties Net Leased to CVS in Ohio

HARTVILLE AND NORTH ROYALTON, OHIO — The Boulder Group has arranged the sale of two single-tenant properties net leased to CVS Pharmacy in Ohio for $5.2 million. The properties are located at 600 W. Maple St. in Hartville, about 15 miles north of Canton, and 8001 W. 130th St. in North Royalton, about 15 miles south of Cleveland. CVS has approximately five years remaining on its leases, which expire in January 2023. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the …

Rent-A-Center Stock Rebounds Following News of Buyout

PLANO, TEXAS — After announcing on Monday, June 18, it had entered into an agreement to be acquired by Vintage Capital Management, Rent-A-Center Inc. (NASDAQ/NGS: RCII) has seen its stock price increase steadily throughout the week. The company’s stock price opened at $14.78 per share on Thursday, June 21. This figure represents a nearly 23 percent increase in the span of just one week, but remains a far cry from the peak price of $40 per share in summer 2013. Vintage Capital agreed …

The Stro Companies Acquires 26,500 SF Retail Building in New Jersey

LODI, N.J. — The Stro Companies has acquired 240 Route 17, a 26,500-square-foot retail building in Lodi for $4 million. The property was home to a local party good store for decades but was vacant at the time of the sale. Stro purchased the property from the former owner occupant and has plans to upgrade and reposition the asset. The Bank of New Jersey provided acquisition