Retail

Old Navy Signs 12,688 SF Lease at Warren Tech Plaza in Warren, Michigan

by Kristin Harlow August 24, 2017

WARREN, MICH. — Old Navy has signed a 12,688-square-foot at Warren Tech Plaza in Warren, a suburb of Detroit. The 311,00-square-foot retail center is now 90 percent leased. Other recent tenant additions include Marshalls, DSW, Five Below, Ulta and Walmart. Petzold Enterprises acquired the property in 2014. Originally opened in 1960, the shopping center has undergone extensive improvements including an L-shape design, improved site lines, covered sidewalks and upscale finishes. The renovations team included Tiseo Architects, design firm R. Berlin & Associates, and NCS Construction Services.

August 24, 2017

Retail Southeast Tennessee

Baker Storey McDonald Signs Climbing Gym to Retail Center in Metro Nashville

by Camren Skelton August 24, 2017

MURFREESBORO, TENN. — Baker Storey McDonald Properties Inc. has signed a long-term lease with Climb Nashville LLC, an indoor rock climbing concept, at Northfield Crossing Shopping Center in Murfreesboro, roughly 35 miles southeast of Nashville. Climb Nashville’s newest location, Climb Murfreesboro, will occupy 30,500 square feet at 1660 Memorial Blvd., making it the largest indoor climbing facility in Tennessee. Allen McDonald and Tom Frye of Baker Storey McDonald Properties Inc. represented the landlord, Conscious Capital LLC, and worked directly with Climb Nashville LLC to complete the transaction. Conscious Capital is a privately owned, Nashville-based real estate investment firm that acquired Northfield Crossing in 2016. Climb Murfreesboro is part of the company’s plan to transform the property into an experiential, internet-resistant shopping center.

August 24, 2017

California Retail Western

Hanley Investment Arranges $5.7M Sale of Two-Tenant Retail Property in Foothill Ranch

by Nellie Day August 23, 2017

FOOTHILL RANCH, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $5.7 million sale of a two-tenant retail building located in Foothill Ranch. The 4,150-square-foot pad site is a part of Foothill Ranch Towne Center, and is occupied by Dunkin’ Donuts and MOD Pizza. Bill Asher and Ed Hanley of Hanley Investment group represented the seller, Spectrum Development Group, in the transaction. John Carpenter of The 949 Group represented the buyer, a private investor from Newport Beach.

August 23, 2017

Retail Texas

InvenTrust Acquires 404,000 SF Retail Center in Metro Austin for $112.2M

by Taylor Williams August 23, 2017

CEDAR PARK, TEXAS — InvenTrust Properties Corp., an Illinois-based investment firm, has acquired The Parke, a 404,000-square-foot retail power center located in the Austin metro of Cedar Park for approximately $112.2 million. The Whole Foods-anchored center is home to tenants such as Dick’s Sporting Goods, Nordstrom Rack, Marshalls, DSW, Petco and Ulta Beauty. The seller was not disclosed.

August 23, 2017

Florida Georgia Retail Southeast

Phillips Edison Acquires 280,060 SF Publix-Anchored Portfolio in Florida, Georgia

by Camren Skelton August 23, 2017

CINCINNATI — Cincinnati-based Phillips Edison & Co. has acquired three Publix-anchored shopping centers located throughout Florida and Georgia totaling 280,060 square feet. The portfolio includes St. John’s Plaza, a 117,507-square-foot center in Titusville, roughly 40 miles east of Orlando; Ormond Beach Mall, a 94,275-square foot shopping center in Ormond Beach, a Central Florida town near Daytona Beach; and Golden Park Village, a 68,278-square-foot shopping center in Buford, roughly 40 miles northeast of Atlanta. St. John’s Plaza is home to Hair Cuttery, Sally Beauty Supply, Dollar Tree and Cricket Wireless. Ormond Beach Mall features tenants including Wells Fargo and Dollar Tree. In addition to Publix, Golden Park Village houses Great Clips and The UPS Store. The sales price and seller of the portfolio were not disclosed.

August 23, 2017

California Retail Western

Savills Studley Arranges $18.5M Sale of Anaheim Lincoln Shopping Center

by Nellie Day August 22, 2017

ANAHEIM, CALIF. — Savills Studley has arranged the $18.5 million sale of Anaheim Lincoln Shopping Center, a 72,950-square-foot retail center located roughly 27 miles outside Los Angeles in Anaheim. Savills Studley’s Kyle Miller and Bill Bauman brokered the transaction. A Los Angeles-based private investor acquired the center from an undisclosed private partnership. Vallarta Supermarket anchors the property.

August 22, 2017

Multifamily Restaurant Retail Texas

EPC to Build 292-Unit Apartment Community in Denton

by Taylor Williams August 22, 2017

DENTON, TEXAS — Kansas City-based EPC Real Estate Group will build The Village at Rayzor Ranch, a 292-unit apartment community situated on an 11–acre parcel at Rayzor Ranch Town Center in Denton. The property will feature a mix of one- and two-bedroom units and amenities such as a resort-style pool, outdoor grilling areas, a fitness center and a dog park. EPC expects to break ground on the property in early 2018. Construction of a 7,500-square-foot Cheddar’s Scratch Kitchen and a Zoe’s Kitchen is also scheduled to begin later this year at Rayzor Ranch, with mid-2018 the target opening date.

August 22, 2017

Retail Southeast Tennessee

NAI Secures $49.5M Sale of Walmart Neighborhood Market Portfolio in Tennessee

by Camren Skelton August 22, 2017

FORT LAUDERDALE, FLA. — NAI Rauch Weaver Norfleet Kurtz & Co., a Fort Lauderdale affiliate of NAI Global, has arranged the $49.5 million sale of a four-store Walmart Neighborhood Market portfolio located in Chattanooga, East Ridge, Murfreesboro and Knoxville. Frank Castoro of NAI represented the buyer, a series of special purpose entities (SPE). The sites were build-to-suit prototypes for the store and are triple-net-leased to Walmart Neighborhood Market for 15 years with 18 five-year options. Situated on a total of 27.3 acres, each site comprises approximately 44,000 square feet and includes a fuel station.

August 22, 2017

Georgia Retail Southeast

InvenTrust Acquires Publix-Anchored Center in Atlanta’s Midtown District for $31.8M

by Camren Skelton August 22, 2017

ATLANTA — InvenTrust Properties Corp. has purchased The Plaza Midtown, a 70,000-square-foot, Publix-anchored retail center in Atlanta’s Midtown district, for $31.8 million. The property is located roughly half a mile from the Georgia Institute of Technology. In addition to Publix, The Plaza Midtown is home to restaurants, fitness concepts and beauty retailers. The seller was not disclosed. With this acquisition, Downers Grove, Ill.-based InvenTrust owns and manages 85 retail properties totaling 15.2 million square feet.

August 22, 2017

North Carolina Retail Southeast

SRS Arranges $11.2M Sale of Shopping Center in Metro Charlotte

by Camren Skelton August 22, 2017

INDIAN TRAIL, N.C. — SRS Real Estate Partners has brokered the $11.2 million sale of Union Town Centre, a 102,360-square-foot shopping center in Indian Trail, roughly 16 miles southeast of Charlotte. Kyle Stonis and Pierce Mayson of SRS represented the seller, Equity Investment Group, in the sale to Katz Properties LLC. Situated on 15 acres at 5850 Highway 74 West, Union Town Centre is anchored by Food Lion and Dollar Tree.

August 22, 2017

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