Retail

Sterling Organization Buys 86,520 SF Shopping Center in Westlake Village for $35M

by Amy Works August 30, 2018

WESTLAKE VILLAGE, CALIF. — Sterling Organization has purchased North Ranch Gateway, a shopping center located at the intersection of Lindero Canyon Road and Thousand Oaks Boulevard in Westlake Village. The asset was acquired on behalf of Sterling Value Add Partners LLL, one of Sterling’s latest institutional funds, for $35 million Preston Fetrow and Sam Alison of CBRE brokered the transaction. Originally built in 1989, the 86,520-square-foot center recently underwent significant renovations. TJ Maxx, Bank of America, Dunkin’ Donuts, Subway, Baja Fresh Mexican Grill, 9 Round Kickboxing, Mathnasium and Domino’s Pizza are tenants at the property, which was 74 percent occupied at the time of sale.

August 30, 2018

Acquisitions Retail Texas

Davidson Bogel Arranges Sale of 22,000 SF Retail Center in Fort Worth

by Taylor Williams August 30, 2018

FORT WORTH, TEXAS — Davidson Bogel Real Estate has arranged the sale of 2800 Bledsoe, a 22,000-square-foot retail center located in the West 7th Entertainment District in Fort Worth. The property was 100 percent leased at the time of sale to tenants such as Whisky Garden, Trophy Ranch and The Local. Cameron Deptula of Davidson Bogel represented the seller, TLC Urban, in the transaction. Houston-based Fifth Corner purchased the asset for an undisclosed price.

August 30, 2018

Georgia Leasing Activity Retail Southeast

Braves Development Signs Four New Tenants at The Battery Atlanta

by Camren Skelton August 30, 2018

ATLANTA — Braves Development Co. (BDC) has signed four new tenants to The Battery Atlanta in Cobb County. The 1.5 million-square-foot mixed-use development surrounds SunTrust Park, home ballpark of the Atlanta Braves that opened in April 2017. The VOID, a social activity that combines virtual reality technology, physical stages and multi-sensory effects, will open a 9,000-square-foot space adjacent to the Coca-Cola Roxy music venue. Scheduled to open in 2019, the space will mark The VOID’s first location in Georgia. Chattanooga, Tenn.-based Rock/Creek, an outdoor industry retailer, will open a 17,000-square-foot store that carries gear for sports such as kayaking, rock climbing, camping and hiking. Rock/Creek is scheduled to open at the development in 2019. Escape room concept The Escape Game will open a 5,000-square-foot space along Battery Avenue in 2019. The fourth tenant, Allure Nail Bar, will open a 3,100-square-foot location next to Select Shades. Gary Lewis of Gary Lewis & Associates Real Estate represented BDC in the lease transactions with The VOID, Rock/Creek and The Escape Game. JLL assisted with the Allure Nail Bar lease. The new signings come on the heels of the recently announced additions of Silverspot Cinema, Aloft Hotel and Savi Provisions, as well as the announcement …

August 30, 2018

Acquisitions Illinois Midwest Retail

NARE Acquires Retail Center in Suburban Chicago for $20M

by Kristin Harlow August 30, 2018

WOODRIDGE, ILL. — North American Real Estate (NARE) has acquired Woodgrove Festival in Woodridge, about 29 miles west of Chicago, for $20 million. The 157,276-square-foot retail center is situated on 15 acres at 1001 W. 75th St. Completed in 1985 and renovated and expanded in 2010, the property is 88.3 percent leased to tenants such as Hollywood Blvd. Cinema, Five Below, Carter’s, Shoe Carnival, Pearle Vision, Starbucks, T-Mobile, Carrabba’s Italian Grill, Jameson’s Charhouse and Panera Bread. Amy Sands and Clinton Mitchell of HFF represented the seller, Kimco Realty Corp.

August 30, 2018

Acquisitions Kansas Midwest Retail

PEBB Enterprises Buys 126,909 SF Shopping Center in Overland Park, Kansas

by Kristin Harlow August 30, 2018

OVERLAND PARK, KAN. — PEBB Enterprises has purchased Pinnacle Village in Overland Park for an undisclosed price. The 126,909-square-foot shopping center is located at the intersection of Blue Valley Parkway and W. 119th Street. The property is currently 74 percent occupied by tenants such as DSW and Michaels. PEBB purchased the asset by acquiring the non-performing loan and foreclosing on the underlying collateral.

August 30, 2018

Leasing Activity Retail Texas

Kids Empire to Open 15,000 SF Venue in Mesquite, Texas

by Taylor Williams August 29, 2018

MESQUITE, TEXAS — Kids Empire, an entertainment concept that provides indoor playgrounds for children, will open a 15,000-square-foot venue within Towne Crossing Shopping Center in Mesquite, an eastern suburb of Dallas. The location will be the first in Texas for the company, which started in California. Robin Barrow and Eddie Liebman of Weitzman represented Kids Empire in the lease negotiations. Chris Young of Phillips Edison represented the landlord on an internal basis. The Mesquite venue is scheduled to open during the fourth quarter.

August 29, 2018

Acquisitions Midwest Net Lease Ohio Retail

Marcus & Millichap Brokers $2.2M Sale of Net Leased Retail Property in Harrison, Ohio

by Kristin Harlow August 29, 2018

HARRISON, OHIO — Marcus & Millichap has brokered the $2.2 million sale of an 18,888-square-foot retail property net leased to Tractor Supply Co. in Harrison, about 20 miles northwest of Cincinnati. The property is located at 389 Comfort Drive near I-74. Tractor Supply Co. has operated at the building since 1999. Dan Yozwiak and Justin Fenn of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also represented the buyer, a limited liability company.

August 29, 2018

Acquisitions Georgia Retail Southeast

SRS Arranges $5.3M Sale of Crunch Fitness-Leased Building in Metro Atlanta

by Camren Skelton August 29, 2018

LAWRENCEVILLE, GA. — SRS Real Estate Partners has arranged the $5.3 million sale of a freestanding retail building leased to Crunch Fitness in Lawrenceville, located 34 miles northeast of Atlanta. The 22,000-square-foot property opened in March and is triple-net-leased to Crunch Fitness for 12.5 years. Matthew Mousavi and Patrick Luther of SRS arranged the transaction on behalf of the seller, a local developer, and procured the buyer, a public REIT.

August 29, 2018

Development Midwest Retail Wisconsin

Milwaukee Bucks Open New $524M Arena

by Kristin Harlow August 28, 2018

MILWAUKEE — The Milwaukee Bucks have officially opened Fiserv Forum, the new basketball arena in downtown Milwaukee. A ribbon cutting ceremony took place on Sunday, Aug. 26. Construction costs were estimated at $524 million, according to local media reports. The 730,000-square-foot venue will also host Marquette University’s men’s basketball team and a variety of events such as concerts. Fiserv Forum will seat 17,500 people for basketball events and feature more than 12,000 square feet of video displays. MKEat is a locally focused food and beverage program implemented at the arena. Populous, Eppstein Uhen Architects and HNTB designed the project. Mortenson served as the general contractor. Founding partners for Fiserv Forum include BMO Harris Bank, Froedtert & the Medical College of Wisconsin, Johnson Controls and Miller Brewing Co.

August 28, 2018

Acquisitions Illinois Midwest Net Lease Retail

Boulder Group Arranges $13.1M Sale of Property Net Leased to Jewel-Osco in Shorewood, Illinois

by Kristin Harlow August 28, 2018

SHOREWOOD, ILL. — The Boulder Group has arranged the $13.1 million sale of a single-tenant property net leased to Jewel-Osco in Shorewood, about 40 miles southwest of Chicago. The 66,437-square-foot property sits on a 14.5-acre site at the intersection of Brook Forest Avenue and Jefferson Street. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a private real estate investment company based in the southwest. A California-based 1031 investor was the buyer.

August 28, 2018

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