Retail

Chase Properties Purchases 268,000 SF Retail Center in Jackson, Tennessee

by Camren Skelton August 31, 2017

JACKSON, TENN. — Chase Properties Ltd. has acquired The Columns, a 268,000-square-foot shopping center in Jackson. The shopping center is home to tenants including Ross Dress for Less, Best Buy, Old Navy, Marshalls and Bed Bath & Beyond. Kohl’s, Ulta Beauty, Dick’s Sporting Goods and Hobby Lobby shadow-anchor the property. Retail Properties of America Inc. sold the asset for an undisclosed price. Disney Investment Group brokered the sale. The transaction marks Beachwood, Ohio-based Chase Properties’ third acquisition in the past year.

August 31, 2017

Indiana Midwest Retail

Berengaria Development Acquires 277,000 SF Retail Center in Valparaiso, Indiana

by Kristin Harlow August 31, 2017

VALPARAISO, IND. — Berengaria Development LLC has acquired Porter’s Vale Shopping Center in Valparaiso in northwestern Indiana for an undisclosed price. The 277,059-square-foot shopping center is located along Highway 49. The property was 96 percent leased at time of purchase to tenants including Dick’s Sporting Goods, Five Below, Home Goods, Hobby Lobby, Party City, Cinemark, Kirkland’s, Gordman’s, McAllister’s Deli, Massage Envy and Mattress Firm. A 103,000-square-foot J.C. Penney shadow anchors the property. A 190,000-square-foot Meijer store will be completed in summer 2018. Paul Barile of Transwestern represented the undisclosed seller in the transaction.

August 31, 2017

Illinois Midwest Retail

Broad Reach Acquires 70,000 SF Shopping Center in Wood River, Illinois

by Kristin Harlow August 31, 2017

WOOD RIVER, ILL. — Broad Reach Retail Partners has acquired the Wood River Centre in Wood River, located 15 miles north of St. Louis. The purchase price was not disclosed. A Walmart Supercenter anchors the 70,000-square-foot shopping center. The center is 60 percent occupied by tenants including Dollar Tree, H&R Block, Sally Beauty, Taco Bell and Wendy’s.

August 31, 2017

Retail Utah Western

Mountain West Brokers Sale of 168,494 SF Shopping Center Near Salt Lake City

by Nellie Day August 30, 2017

HOLLADAY, UTAH — Mountain West Commercial Real Estate has arranged the sale of Van Winkle Shopping Center, a 168,494-square-foot retail center located in Holladay, 11 miles southeast of Salt Lake City. VASA Fitness anchors the property. Chris Monson of Mountain West represented the seller, Glen Kitto. Ben Brown, also of Mountain West, represented the buyer, an undisclosed private investor.

August 30, 2017

California Retail Western

Hanley Investment Group Arranges $22.2M Sale of Retail Center in Riverside

by Nellie Day August 30, 2017

RIVERSIDE, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $22.2 million sale of Michaels Plaza, a 62,952-square-foot retail center located adjacent to the 1.2 million-square-foot Galleria at Tyler Mall in the Inland Empire community of Riverside. The property was 98 percent occupied at the time of sale by tenants including Michaels, David’s Bridal, Lamps Plus, Armed Forces, The Flame Broiler, GameStop and Miracle Ear. Ed Hanley, Bill Asher and Kevin Fryman of Hanley Investment represented the seller, an affiliate of The Krausz Companies Inc., in the transaction. Jefferson Kim of jKim Group Inc. represented the buyer, a private investor from Fullerton.

August 30, 2017

Colorado Retail Western

Massage Heights to Open Location in Fort Collins

by Nellie Day August 30, 2017

FORT COLLINS, COLO. — As part of its nationwide expansion, Massage Heights has signed three franchise agreements during the first half of 2017. The therapeutic massage and facial services provider will to expand the brand to the Los Angeles submarket of Woodland Hills, in addition to Houston and Boerne, Texas. Massage Heights also opened six new locations this year, including one in Fort Collins, Colo. The brand is on track to open 10 locations in 2017, with a goal of having 300 locations open by the end of 2020. Massage Heights is a family-owned, membership-based therapeutic services franchise company that provides massage and facial services.

August 30, 2017

Loans Retail Texas

HFF Arranges $225M Refinancing for 250,000 SF Upscale Shopping Center in Dallas

by Taylor Williams August 30, 2017

DALLAS — HFF has arranged the refinancing of Highland Park Village, a roughly 250,000-square-foot shopping center in Dallas. The property is currently leased to 75 tenants, including Chanel, Jimmy Choo, Christian Dior, Honor Bar and Cafe Pacific. John Brownlee and Cullen Aderhold of HFF arranged the financing, which comes to $225 million, according to The Dallas Morning News, on behalf of the borrower, HP Village Partners LP.

August 30, 2017

Multifamily Retail Southeast Virginia

Morgan Properties Acquires Multifamily, Retail Portfolio in Metro D.C. for $509M

by Camren Skelton August 30, 2017

ALEXANDRIA, VA. — Morgan Properties has acquired the Mark Center portfolio, a multifamily and retail portfolio comprising 2,664 apartment units and a 63,320-square-foot retail center in Alexandria, for $509 million. Located in the Seminary Road submarket, the 150-acre Mark Center portfolio is roughly eight miles south of Washington, D.C. CBRE represented the undisclosed seller in the transaction. The Apartments at Mark Center include six adjacent garden-style communities: Hillwood, Stoneridge, Meadow Creek, Lynbrook, Brookdale and Willow Run. King of Prussia, Pa.-based Morgan Properties will consolidate the six assets into four apartment communities and invest approximately $35 million in capital improvements, including updated interiors and appliances and a new fitness center, business center, movie theater, club room, putting green and a dog park. The Shops at Mark Center is leased to tenants including CVS/pharmacy, Global Foods, Starbucks Coffee and SunTrust Bank. The Mark Center acquisition is Morgan Properties’ second largest transaction in the company’s history. With the acquisition, the company obtained the former owner’s right to maximize the allowable density of the center from 2.5 million square feet to 6.4 million square feet over the long-term.

August 30, 2017

Indiana Loans Midwest Ohio Retail

NorthMarq Arranges $7M Refinancing for Retail Portfolio in Indiana and Ohio

by Kristin Harlow August 30, 2017

INDIANA AND OHIO — NorthMarq Capital has arranged a $7 million loan for the refinancing of Creekstone retail portfolio, a collection of retail properties totaling 50,000 square feet in Indiana and Ohio. The properties include: 1310, 1665 and 1675 N. National Road in Columbus, Ind.; 909 DuPont Road in Fort Wayne, Ind.; and 4425 Feedwire Road in Centerville, Ohio. Noah Juran of NorthMarq arranged the 15-year loan, which features a 25-year amortization schedule. A life insurance company provided the loan.

August 30, 2017

Midwest Missouri Retail

Block & Co. Brokers Sale of 65,000 SF Shopping Center in Raytown, Missouri

by Kristin Harlow August 30, 2017

RAYTOWN, MO. — Block & Co. Inc. Realtors has brokered the sale of Raytown Crossing shopping center in Raytown, a suburb of Kansas City. The sales price was not disclosed. The 65,069-square-foot center is located at 6715-6731 Blue Ridge Blvd. Tenants include Extreme Grand Prix Indoor Go Karting and Lonnie Bush Fitness. Bill Maas and Jay Friedman of Block & Co. negotiated the sale on behalf of the seller, CTA Properties LLC. The buyer was not disclosed.

August 30, 2017

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