Retail

Faris Lee Arranges $21.8M Sale of Retail Center in Hawaii

by Nellie Day October 2, 2017

KAILUA-KONA, HAWAII — Faris Lee Investments has arranged the $21.8 million sale of Coconut Grove Marketplace, a 49,513-square-foot retail center in Kailua-Kona. Donald MacLellan and Rick Chichester of Faris Lee represented the seller, Hudson America LP, and the buyer, J.H. Real Estate Partners. The center features an open layout with ocean views and an oceanfront volleyball court. Coconut Grove is home to tenants including ABC Stores, Humpy’s Alehouse, Lava Java, Outback Steakhouse, Kona Gear and Foster’s Kitchen.

October 2, 2017

Midwest Minnesota Retail

Baceline Acquires 82,478 SF Shopping Center in Columbia Heights, Minnesota for $7.2M

by Kristin Harlow October 2, 2017

COLUMBIA HEIGHTS, MINN. — Baceline Investments LLC has acquired Central Plaza shopping center in Columbia Heights, five miles north of Minneapolis, for $7.2 million. The 82,478-square-foot shopping center is located at 725 45th Ave. NE. The property is currently 92 percent leased. Central Plaza Associates LLC was the seller. Denver-based Baceline is a private real estate investment and management company that focuses on acquiring and revitalizing neighborhood shopping centers.

October 2, 2017

Retail Top Stories

ShopOne Launches New REIT With 46 Assets Across Eight States

by Camren Skelton October 2, 2017

NEW YORK CITY — ShopOne Centers REIT Inc. has launched a new shopping center ownership entity under the leadership of retail real estate veteran Michael Carroll. The private real estate investment trust will focus on acquiring, operating and managing grocery-anchored shopping centers in dense, geographically diverse areas. Davidson Kempner Capital Management LP owns a majority of ShopOne’s equity. “We have a really good capital partner in Davidson Kempner, which has been an active investor in the space from both the debt and asset level,” says Carroll, who serves as CEO of ShopOne. Carroll is the former CEO of Brixmor Property Group. “We are the first platform/portfolio company investment that Davidson Kempner has made.” ShopOne is entering the retail sector with a portfolio of 46 shopping centers spread across eight states, including more than 4.7 million square feet of gross leasable space, the majority of which were acquired from Devonshire REIT Inc. “There were properties that were housed in the operating partnership of Devonshire, and we bought that operating partnership,” says Carroll. “There are Devonshire entities out there that still have a business, but we have migrated the assets that were in their operating partnership into a new entity under the ShopOne banner.” …

October 2, 2017

Retail Texas

Glowzone to Open 52,525 SF Facility in Northwest Houston

by Taylor Williams September 29, 2017

HOUSTON — Glowzone, a family entertainment concept that features a ropes course, mini-golf and bumper cars, will open a 52,525-square-foot facility at 13150 Breton Ridge St. in northwest Houston. Balaxi One Breton Ridge LLC owns the big box property, having recently purchased it from Breton Ridge TX LLC. Randy Hopper and Gunnar Holman of JLL represented the seller in that transaction.

September 29, 2017

Restaurant Retail Texas

Fast Casual Eatery Gather Kitchen Opens Flagship Location in Downtown Dallas

by Taylor Williams September 29, 2017

DALLAS — Gather Kitchen, a fast casual restaurant specializing in locally sourced items, has opened its flagship location at Thanksgiving Tower in downtown Dallas. The 2,400-square-foot restaurant will feature a bakery, outdoor seating area and floor-to-ceiling windows with views of the CBD. Greg Pierce and Ryan May of CBRE represented Gather Kitchen in the lease negotiations. Jack Gosnell and Amy MacLaren, also of CBRE, represented the landlord, Woods Capital Management.

September 29, 2017

Retail Texas

Venture Commercial Arranges Sale of 4,600 SF Retail Center Near Grandscape

by Taylor Williams September 29, 2017

LEWISVILLE, TEXAS — Retail brokerage firm Venture Commercial has arranged the sale of a 4,600-square-foot retail center located at 5020 State Highway 121 in the Dallas metro of Lewisville. The property is adjacent to Grandscape, a 433-acre development owned by Berkshire Hathaway and anchored by Nebraska Furniture Mart. John Zikos, Jonathan Cooper and Don Miller of Venture Commercial represented the seller, NDC Holdings, in the transaction. Austin-based management firm Mutyala Properties purchased the asset for an undisclosed price.

September 29, 2017

Mixed-Use Multifamily New York Northeast Retail

Metropolitan Avenue Associates Acquires Mixed-Use Building in Brooklyn for $11.3M

by Amy Works September 29, 2017

NEW YORK CITY — Metropolitan Avenue Associates has purchased a six-story mixed-used building located at 524 Metropolitan Ave. in Brooklyn’s Williamsburg neighborhood. Pinny and Moishe Loketch of the Loketch Group sold the property for $11.3 million. The 12,160-square-foot building features 20 apartment units and two commercial spaces, which are leased to Yola’s Café. At the time of sale, the building was fully occupied. Brendan Maddigan, Ethan Stanton and Michael Gignate of Cushman & Wakefield represented the seller in the deal.

September 29, 2017

Northeast Pennsylvania Retail

The Verrichia Co. to Develop Retail Center in Horsham, Pennsylvania

by Amy Works September 29, 2017

HORSHAM, PA. — The Verrichia Co. has acquired the final three parcels necessary to begin development of Horsham Village Plaza, a retail center located at the intersection of Route 611 and Blair Mill Road in Horsham. The center will feature a 5,585-square-foot Wawa convenience store with six fuel pumps and a 12,900-square-foot CVS/pharmacy, both of which are slated to open in fall 2018. Additionally, the center will feature three pad sites, totaling 17,200 square feet, which are available for lease through Metro Commercial.

September 29, 2017

New York Northeast Retail

HFF Brokers Sale of 116,200 SF Grocery-Anchored Retail Center in Long Island

by Amy Works September 29, 2017

HUNTINGTON, N.Y. — HFF has arranged the sale of Huntington Square Plaza, a grocery-anchored retail center located at 3124 Jericho Turnpike in the Long Island community of Huntington. Completed in 2002, the 116,200-square-foot center was fully leased at the time of sale. Tenants include Stop & Shop and Best Buy. Jose Cruz, Kevin O’Hearn, Stephen Simonelli and Michael Oliver of HFF represented the undisclosed seller in the deal. The name of the buyer and acquisition price were not released.

September 29, 2017

North Carolina Office Retail Southeast

NAI Piedmont Triad Brokers $12M Sale of Office, Retail Buildings in North Carolina

by Camren Skelton September 29, 2017

GREENSBORO, N.C. — NAI Piedmont Triad has arranged the $12 million sale of two commercial buildings located at 333 N. Greene St. and 327 Battleground Ave. in downtown Greensboro. Robin Tyler and Beau McIntosh of NAI Piedmont Triad arranged the transaction on behalf of the seller, Greensboro-based Johnston Properties Inc. Whit Brown of NAI Carolantic represented the buyer, Raleigh, N.C.-based Greene Street Holdings LLC. Constructed in 2000, 333 N. Greene Street features 68,000 square feet of office space and was fully leased at the time of sale. 327 Battleground Avenue is a converted retail building that was also fully leased at the time of sale to tenants including The Undercurrent Restaurant.

September 29, 2017

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