Retail

Champion Real Estate Sells Redeveloped, Grocery-Anchored Retail Center in Metro Los Angeles

by Amy Works June 27, 2018

GLENDORA, CALIF. — Champion Real Estate Co. has completed the disposition of Grand & Alosta, a grocery-anchored retail center located in Glendora, to 655 South Grand Avenue Owner LLC for an undisclosed price. Champion Glendora, an affiliate of Champion, acquired the vacant 85,615-square-foot building in 2016 and redeveloped it into a smaller, 70,811-square-foot, multi-tenant shopping center. Sprouts Farmers Market and Marshalls anchor the fully occupied property. Bryan Ley, Gleb Lvovich and Justin Kundrak of HFF represented the seller, while the buyer represented itself in the transaction.

June 27, 2018

Acquisitions Arizona Retail Western

JLL Brokers $11.2M Sale of Ocotillo Plaza Retail Building in Chandler, Arizona

by Amy Works June 27, 2018

CHANDLER, ARIZ. — JLL has arranged the sale of Ocotillo Plaza, a retail building located at 2880 S. Alma School Road in Chandler’s Ocotillo area. Thompson Thrift Retail Group sold the property to Southern California-based Slater Avenue II for $11.2 million. The 121,829-square-foot building was renovated from a former Target store into a multi-tenant retail property. Current tenants include Goodwill, Shoppers Supply, and a home and outdoor supply retailer. Peter Bauman, Tivon Moffitt, Dennis Desmond and Tyson Switzenberg of JLL’s Phoenix office represented the seller, while Nina Patel represented the buyer in the deal.

June 27, 2018

Leasing Activity Retail Texas

Motorcycle Group to Open Five New Dealerships in Texas by 2019

by Taylor Williams June 26, 2018

BEDFORD, TEXAS — Lucky Penny Cycles, a seller of pre-owned motorcycles, will open five new dealerships in Texas by 2019, including locations in Dallas-Fort Worth, Houston, Austin and San Antonio. The company’s first store, which opened in the Fort Worth suburb of Bedford in 2016, features an 18,000-square-foot showroom and offers brands including Harley-Davidson, Honda, Suzuki and Yamaha. The store also sells clothing and other biker-themed merchandise.

June 26, 2018

Development Florida Restaurant Retail Southeast

Triforce to Develop 14,000 SF Retail Center in Jacksonville

by John Nelson June 26, 2018

JACKSONVILLE, FLA. — Triforce Development is set to break ground on Tinseltown Plaza, a 14,000-square-foot shopping center located in Jacksonville. The development is an outparcel property at the Tinseltown Movie Theatre complex. Franklin Street’s North Florida office has secured three tenants for the center, including Noire The Nail Bar, Kazu Sushi Burrito and Soupa Saiyan. Each of the new retailers will occupy 2,000 square feet. Construction is scheduled to begin this fall, with completion expected in early 2019.

June 26, 2018

Leasing Activity Midwest Missouri Retail

GBT Realty Unveils New Tenants at the Shoppes of Mid Rivers in St. Peters, Missouri

by Kristin Harlow June 26, 2018

ST. PETERS, MO. — GBT Realty Corp. has unveiled new tenants at the Shoppes of Mid Rivers in the suburban St. Louis community of St. Peters. Outback Steakhouse is currently under construction and a Blaze Fast Fire’d Pizza is slated to join the tenant lineup. Other new leases include Nail Lounge, SSM Physical Therapy and Uptown Cheapskate. These tenants are expected to open later this year. Current tenants at the 270,000-square-foot retail center include Academy Sports + Outdoor, HomeGoods, Ross Dress for Less, Marshalls and Ulta Beauty. The property is currently 92 percent leased.

June 26, 2018

Development Midwest Missouri Restaurant Retail

Dairy Queen to Open in Kearney, Missouri

by Kristin Harlow June 26, 2018

KEARNEY, MO. — A Dairy Queen Grill & Chill franchisee has purchased 33,685 square feet of land for $775,000 to build a new ground-up Dairy Queen in Kearney, about 25 miles north of Kansas City. The property is located on the southeast corner of I-35 and Highway 92. The Dairy Queen is slated to open in September. Tony DeTommaso of Block & Co. Inc. Realtors represented the buyer. The seller was not disclosed.

June 26, 2018

Acquisitions Northeast Pennsylvania Retail

HFF Arranges $13.8M Sale of Retail Property in Suburban Pittsburgh

by David Cohen June 26, 2018

WEXFORD, PA. — HFF has arranged the $13.8 million sale of a 53,000-square-foot, single-tenant retail property in Wexford, approximately 17 miles north of Pittsburgh. Marc Mandel, Steve Schrenk, Coler Yoakam, Mark West and Michael George of HFF represented the seller, a REIT, in the transaction. A private East Coast buyer purchased the asset. Additionally, HFF secured an $8.5 million, 20-year, fixed-rate loan with Protective Life Insurance Company for the buyer. Levin Furniture occupies the building under a triple net lease that expires in 20 years.

June 26, 2018

Acquisitions New Jersey Northeast Retail

Marcus & Millichap Negotiates $2M Sale of Net-Leased GameStop in New Jersey

by David Cohen June 26, 2018

WEST NEW YORK, N.J. — Marcus & Millichap has arranged the $2 million sale of a net-leased GameStop location in West New York. Michael Lombardi, Alexander Pildes and Steven Schiavello of Marcus & Millichap represented the buyer and seller in the transaction, both private investors. Located at 6001 Bergenline Ave., the video game retailer GameStop has been at the property since 2002.

June 26, 2018

Acquisitions California Retail Western

NKF Capital Markets Arranges $58.5 Million Sale of Shopping Center in Metro San Diego

by Amy Works June 26, 2018

CHULA VISTA, CALIF. — NKF Capital Markets has arranged the $58.5 million sale of Broadway Plaza, a 356,335-square-foot shopping center in Chula Vista, located nine miles southeast of San Diego. The center was fully leased at the time of sale to tenants including Walmart, Costco, Panda Express, Verizon, Subway, Chase Bank, Petco and GameStop. Pete Bethea, Rob Ippolito and Glenn Rudy of NKF represented the seller, Kimco Realty. The buyer, Protea Properties LLC, was self-represented in the transaction.

June 26, 2018

Development Office Restaurant Utah Western

Four Foods Groups Plans New Headquarters Building in Pleasant Grove City, Utah

by Amy Works June 26, 2018

PLEASANT GROVE CITY, UTAH — Four Foods Group (FFG) has acquired five acres of land for the development of a new corporate headquarters in Pleasant Grove City. FFG plans to begin construction on the parcel by this fall. In addition to the new headquarters, the company will develop a restaurant cluster housing some of its fast-growing brands, including R&R Barbecue, which is slated to open in July. The restaurant development, operations, finance and management company currently owns or manages 158 restaurants employing more than 5,000 workers in 11 states, 1,500 of those in Utah. The FFG family includes local Utah chains: Kneaders Bakery & Café, Mo’Bettahs Hawaiian Style Food, Swig and R&R Barbecue. Out-of-state restaurants include 74 Little Caesars locations across the south, including Alabama, Louisiana, Mississippi and Florida.

June 26, 2018

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