Retail

LA Fitness to Open 34,000 SF Gym in Metro Austin

by Taylor Williams October 17, 2017

CEDAR PARK, TEXAS — LA Fitness will open a 34,000-square-foot gym at Cedar Park Plaza, a retail development located at the corner of Whitestone Boulevard and Bagdad Road in the Austin metro of Cedar Park. Scheduled to open by November 2018, the Cedar Park location will be the company’s sixth gym in the Austin area. John Zikos and Jonathan Cooper of Venture Commercial, along with John Kalamaras and Ted Slaughter of RealSource Partners, represented LA Fitness in the lease negotiations. The landlord, Cedar Park Plaza LP, was self-represented.

October 17, 2017

Books & Brews to Open at University of Indianapolis

by Kristin Harlow October 17, 2017

INDIANAPOLIS — Books & Brews Used Bookstore and Taproom has signed a 4,600-square-foot retail lease at the University of Indianapolis. Redevelopment of the property, located at 3808 Shelby St., will begin this fall. Books & Brews will be the only restaurant and brewery on campus, according to a news release. Crystal Kennard, Scot Courtney and Richard King III of Lee & Associates represented the landlord, Oakbridge Properties, in the lease transaction. Robb Day of Coldwell Banker Commercial represented the tenant.

October 17, 2017

California Retail Western

Cushman & Wakefield Arranges $22.5M Sale of Canyon Square Plaza in Santa Clarita

by Nellie Day October 17, 2017

SANTA CLARITA, CALIF. — Cushman & Wakefield has brokered the sale of Canyon Square Plaza, a grocery-anchored shopping center in Santa Clarita. A private high-net worth investor acquired the property for $22.5 million. A 40,751-square-foot Vallarta Supermarkets anchors the retail property. At the time of sale, the 96,927-square-foot shopping center was 96 percent occupied by 29 tenants. Dixie Walker and Charley Simpson of Cushman & Wakefield represented the seller, a real estate investment trust, in the deal.

October 17, 2017

California Retail Western

TH Plaza Sells 14,042 SF Retail Center in San Diego for $10.4M

by Nellie Day October 17, 2017

SAN DIEGO — CBRE has arranged the $10.4 million sale of Torrey Highlands Plaza, a 14,042-square-foot retail center in San Diego. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE represented the seller, Paragon affiliate TH Plaza LLC. Tim Mills of CBRE represented the buyer, Santa Monica Property Investors. At the time of sale, Torrey Highlands Plaza was fully leased to 10 tenants.

October 17, 2017

California Retail Western

Hanley Investment Group Completes Three 7-Eleven Deals Totaling $9.1M

by Nellie Day October 17, 2017

LOS ANGELES, SAN DIEGO AND BAKERSFIELD, CALIF. — Hanley Investment Group Real Estate Advisors has completed the sales of three 7-Eleven properties in separate transactions with a combined valued of $9.1 million. In Los Angeles, a private investor acquired a two-tenant retail property, located at 1661 and 1665 S. Robertson Blvd., for $4.4 million. Built in 1977, the 4,722-square-foot property is occupied by 7-Eleven and Launderland Laundry. Jeremy McChesney of Hanley Investment represented the seller, a private investor from Los Angeles, while Michael Irvine of Bulldog Realtors represented the buyer in the 1031 exchange. In the second transaction, a Los Angeles-based family trust purchased a single-tenant 7-Eleven located at 8508 San Carlos Drive in San Diego. A private investor from Los Angeles sold the 2,403-square-foot property, which was built in 1970, for $1.9 million, or $791 per square foot. Allen Park of Packo Investments represented the buyer in the deal. In third deal, McChesney represented the seller, a private investor, in the disposition of a single-tenant 7-Eleven store and gas station located at 5203 Olive Drive in Bakersfield. A private investor form Clovis, Calif., acquired the 3,000-square-foot property for $2.8 million. Sharhan Mheni of Marcus & Millichap represented the buyer …

October 17, 2017

California Retail Western

Marcus & Millichap Negotiates $1.8M Sale of Retail Property in LA

by Nellie Day October 17, 2017

LOS ANGELES — Marcus & Millichap has arranged the sale of a retail property located at 3601 W. Pico Blvd. in Los Angeles. An individual/personal trust acquired the property for $1.8 million. The property features 5,850 square feet of retail space. Steven Schechter of Marcus & Millichap represented the seller, an individual/personal trust, in the deal.

October 17, 2017

California Retail Western

Retail California Brokers Three Retail Leases in Porterville Totaling 6,550 SF

by Nellie Day October 17, 2017

PORTERVILLE, CALIF. — Retail California has arranged three retail leases at Porter’s Crossing Shopping Center, located at the northeast corner of Henderson and Prospect avenues in Porterville, totaling 6,550 square feet. In the first deal, TOGO’S Sandwiches leased 1,400 square feet of space at Porter’s Crossing Shopping Center from Opus-Dean. Nick Frechou of Retail California and Keith Mellor of Pro Equity Real Estate Services brokered the transaction. In the second lease, The Habit Burger Grill inked a deal for 2,650 square feet of space from Opus-Dean. Frechou and Shane Anderson of Commercial Retail Associates arranged the lease. In the final transaction, Blaze Pizza leased 2,500 square feet of retail space from Opus-Dean. Frechou and Josh Sherley of Cushman & Wakefield brokered the deal.

October 17, 2017

New York Northeast Retail

Marcus & Millichap Brokers $5.8M Sale of Retail Building in Pine Bush, New York

by Amy Works October 16, 2017

PINE BUSH, N.Y. — Marcus & Millichap has arranged the sale of Valley Supreme Plaza, a retail building located at 2412 State Route 52 in Pine Bush. A private investor acquired the 50,800-square-foot retail property from an individual/personal trust for $5.8 million. Alan Cafiero, Ben Sgambati, Matt Leszyk and Anthony Asencio of Marcus & Millichap represented the seller, while Scott Plasky and Scott Edelstein of Marcus & Millichap represented the buyer in the deal.

October 16, 2017

Retail Texas

STRIVE Arranges Sale of 43,528 SF Shopping Center in Hillsboro, Texas

by Taylor Williams October 16, 2017

HILLSBORO, TEXAS — Dallas-based retail investment advisory firm STRIVE has arranged the sale of Hillsboro Shopping Center, a 43,528-square-foot retail center located off Interstate 35 and Corsicana Highway in Hillsboro, roughly midway between Waco and Fort Worth. The center houses tenants such as Dirt Cheap, Dollar Tree and Hibbett Sports. Will Merritt of STRIVE represented the seller, a Texas-based investment firm, in the transaction. The buyer and other terms of sale were not released.

October 16, 2017

Retail Texas

Bright Realty Sells 7,727 SF Retail Center in Metro Dallas

by Taylor Williams October 16, 2017

LEWISVILLE, TEXAS — Bright Realty has sold Castle Hills Commons, a 7,727-square-foot, Class A retail property located along State Highway 121 in the northern Dallas suburb of Lewisville. Built in 2016 and situated near the 1.8 million-square-foot Nebraska Furniture Mart, the property is anchored by Starbucks and houses tenants such as Planet Sub, Great Expressions Dental Care and F45 Training. An undisclosed private investor purchased the asset, which was 100 percent leased at the time of sale.

October 16, 2017

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