Retail

O,R&L Commercial Brokers $15.5M Sale of Regional Retail Plaza in East Lyme, Connecticut

by Amy Works October 3, 2017

EAST LYME, CONN. — O,R&L Commercial has arranged the sale of Flanders Plaza, a regional shopping center located at 9-19 Chesterfield Road in East Lyme. Developers Consolidated Realty acquired the property from GFP Flanders Plaza LLC for $15.5 million. Situated on 7.2 acres, the 60,000-square-foot property is anchored by CVS/pharmacy, Tri-Town Foods Supermarket, McDonald’s and Citizens Bank. Jay Morris of O,R&L Commercial represented the seller in the deal. Brett Eagleson of Guilford Savings Bank arranged acquisition financing for the buyer.

October 3, 2017

Massachusetts Northeast Retail

NKF Facilitates Sale of Shopping Center in Burlington, Massachusetts

by Amy Works October 3, 2017

BURLINGTON, MASS. — NKF has arranged the sale of The Shops at Mall Road in Burlington. A private equity fund managed by Crow Holdings Capital Partners acquired the 31,623-square-foot shopping center for an undisclosed price. Current tenants at the fully occupied property include Duluth Trading Co., Catherines, Cycl3, Orangetheory Fitness, Wendy’s and Supercuts. Geoffrey Millerd, Justin Smith, Paul Penman and Christopher Peterson of NKF represented the seller, RJ Kelly, in the transaction.

October 3, 2017

Retail Texas

Weitzman Secures 18,383 SF Retail Lease in San Antonio

by Taylor Williams October 3, 2017

SAN ANTONIO — Weitzman has secured an 18,383-square-foot retail lease at Ingram Festival, a power retail center located at 6003-6005 NW Loop 410 in San Antonio. David Nicolson and Bryan Parman of Weitzman represented the landlord in the lease negotiations. SFP Brokerage LLC represented the tenant, Spec’s Wines, Spirits & Finer Foods. With this new lease, the center is now 100 percent occupied.

October 3, 2017

Florida Georgia Loans Retail Southeast Tennessee

HFF Arranges $110M in Financing for Six-Property Grocery-Anchored Portfolio Across Southeast

by Camren Skelton October 3, 2017

ATLANTA — HFF has arranged $110 million in financing for a six-property grocery-anchored portfolio located throughout Georgia, Florida and Tennessee. Chip Sykes and James Clingman of HFF worked on behalf of the borrowers, Branch Retail Partners LP and its affiliate Branch Properties LLC, to place the seven-year, fixed-rate loan through one of HFF’s life insurance company correspondents. The portfolio totals 876,153 square feet and is anchored by Publix, Kroger and Whole Foods Market.

October 3, 2017

Retail Texas

Ace Hardware Franchisee Purchases 62,000 SF Retail Asset in Borger, Texas

by Taylor Williams October 2, 2017

BORGER, TEXAS — Arquero Property Management, a franchisee of Ace Hardware has purchased a 62,000-square-foot retail property located at 1404 W. Wilson St. in Borger, a city in West Texas approximately 50 miles northeast of Amarillo. Andrew Shaw and Dan Avnery of NAI Robert Lynn represented Ace Hardware in the transaction. Tom Roller of Coldwell Banker represented the undisclosed seller.

October 2, 2017

North Carolina Retail Southeast

Baceline Acquires Shopping Center in Charlotte for $5.1M

by Camren Skelton October 2, 2017

CHARLOTTE, N.C. — Baceline Investments Inc. has acquired Galleria Village, a 34,690-square-foot shopping center in Charlotte. The Denver-based company purchased the asset from an affiliate of Cohen Equities for $5.1 million. Located at the intersection of Galleria Boulevard and Sardis Road in southeast Charlotte, Galleria Village was 83 percent leased at the time of sale. The acquisition marks Baceline’s first property in North Carolina and brings the company’s portfolio to 13 properties with a total value of $96 million.

October 2, 2017

Loans New Jersey Northeast Retail

CBRE DSF Arranges $14.1M in Acquisition Financing for 88,265 SF Retail Center in New Jersey

by Amy Works October 2, 2017

MOUNT LAUREL, N.J. — CBRE Debt & Structured Finance (CBRE DSF) has arranged $14.1 million in financing for Towne Square Shopping Center in Mount Laurel. The borrower, The Westover Cos., used the loan proceeds to purchase the 88,265-square-foot retail center located at 872 Union Mill Road. At the time of closing, the shopping center was 94 percent occupied. ShopRite Supermarket anchors the center, which was built in 1996. Thomas Gorman and Steven Doherty of CBRE DSF represented the borrower in the transaction. Additionally, Brad Nathanson, Adam Rosenzweig and John Colussi of CBRE arranged the sale of property. The team represented the seller, The Hampshire Cos., in the deal.

October 2, 2017

Arizona Retail Western

Sand Capital Subsidiary Buys 47-Property CVS Portfolio for $275M

by Nellie Day October 2, 2017

SCOTTSDALE, ARIZ.— A subsidiary of Sand Capital has acquired a portfolio of 47 CVS/pharmacy stores located throughout the country for $275 million. The stores include locations in Sedona, Ariz.; Seattle; Wheaton, Ill.; Southern California; Dallas; Houston; and Tuscaloosa, Ala. Some of the properties will be offered for sale. Sand Capital is a privately held real estate investment company controlled by the principals of Sandor Development Co., one of the largest privately held shopping center owners in the country.

October 2, 2017

Hawaii Retail Western

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

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