Retail

Franklin Street Arranges $23.4M Sale of Shopping Center in Central Florida

by Camren Skelton July 5, 2017

DAVENPORT, FLA. — Franklin Street has brokered the $23.4 million sale of Ovation Town Center, a 96,750-square-foot, Publix-anchored shopping center located at 7800 Lake Wilson Road in Davenport, roughly 35 miles south of Orlando. Publix Super Markets purchased the property. Bryan Belk and John Tennant of Franklin Street’s Atlanta office represented the seller, Armstrong Development, in the transaction. McDonald’s, Wells Fargo, Tropical Smoothie and Anytime Fitness round out the shopping center’s tenant roster.

July 5, 2017

Retail Texas

STRIVE Brokers Sale of 14,030 SF Strip Center in Irving

by Taylor Williams July 5, 2017

IRVING, TEXAS — STRIVE has brokered the sale of Riverside Retail Strip, a 14,030-square-foot, Class A retail center located at 6421 Riverside Drive in Irving. Built in 2016, the center was 100 percent occupied at the time of sale to tenants such as Wayback Burgers, Donut House and Yummy Thai. Jason Vitorino of STRIVE represented the seller, a Dallas-based developer, in the transaction.

July 5, 2017

Illinois Loans Midwest Retail

Associated Bank Provides $25M Loan for Refinancing of Mariano’s-Occupied Building in Westmont, Illinois

by Kristin Harlow July 5, 2017

WESTMONT, ILL. — Associated Bank has provided a $25 million loan for the refinancing of a single-tenant building occupied by Mariano’s Fresh Market in Westmont, about 20 miles west of Chicago. The 73,023-square-foot grocery store is located at 150 W. 63rd St. The store opened in March 2016. Daniel Barrins of Associated Bank originated the loan. An affiliate of IM Properties PLC was the borrower.

July 5, 2017

New Jersey Northeast Retail

Hartz Mountain Industries Breaks Ground on Whole Foods Market 365 in Weehawken, New Jersey

by Amy Works July 5, 2017

WEEHAWKEN, N.J. — Hartz Mountain Industries has broken ground for Whole Foods Market 365 at Lincoln Harbor, a mixed-use development on the Weehawken waterfront. The 32,949-square-foot grocery store will join the 2.5 million-square-foot development, which includes residential, commercial, hospitality and restaurant space. Whole Foods Market 365 delivers the same quality of foods and products as the traditional Whole Foods Market, but in a new format that with a focus on value.

July 5, 2017

Georgia Market Reports Retail Southeast Southeast Market Reports

Retailers are Seizing the Opportunity to Backfill Shuttered Stores in Atlanta

by John Nelson July 3, 2017

It’s long been known that Atlanta, along with many other markets in the United States, is over-retailed. However, not all retailers are “overstored.” With the recent number of store closings announced (Sports Authority, hhgregg, Kmart, Sears, JC Penney, to name a few), it’s understandable that some have concerns over the current state of retail. That said, for many retailers, these closures become opportunities to enter certain markets or grab better positions within an existing market. As some retailers forfeit locations, these Atlanta vacancies will be absorbed. Burlington Stores recently backfilled the former Sports Authority adjacent to the Mall of Georgia in Buford, and will do the same with the former Best Buy adjacent to The Mall at Stonecrest in Lithonia. Ashley HomeStore will backfill the former Staples in Snellville. In Alpharetta, American Signature Furniture opened in the former Sports Authority box, and entertainment destination Dave & Buster’s is set to open in a former AMC Theatres. The retail industry is undergoing a shift as a result of the emergence of e-commerce and morphing consumer habits. It’s the retailers that are able to adapt and evolve along with changes in technology and consumer attitudes that will thrive, as very few are …

July 3, 2017

Retail Texas

QuikTrip to Open 100 Locations in Austin, San Antonio

by Taylor Williams June 30, 2017

AUSTIN AND SAN ANTONIO — The QuikTrip Corp. will open more than 100 new gas and convenience store locations in the Austin and San Antonio areas beginning in the summer of 2018, according to a social media announcement from the company. Exact locations were not disclosed. The Tulsa-based chain, which first entered Texas in 1999, currently operates 134 locations throughout the Dallas-Fort Worth area.

June 30, 2017

Retail Texas

Marcus & Millichap Negotiates Sale of 40,304 SF Retail Property in Fort Worth

by Taylor Williams June 30, 2017

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of a 40,304-square-foot retail property in Fort Worth. Located at 7300 Rosewood St., the property is net-leased to automotive repair firm Caliber Collision. Vincent Knipp of Marcus & Millichap represented the seller, a private investor, in the transaction. Other terms of sale were not disclosed

June 30, 2017

Retail Southeast Virginia

Simon Opens 332,000 SF Norfolk Premium Outlets

by Camren Skelton June 30, 2017

NORFOLK, VA. — Simon has opened the 332,000-square-foot Norfolk Premium Outlets, bringing retailers including Banana Republic Factory, Calvin Klein, Nike Factory Store, Old Navy and Steve Madden to the Norfolk, Chesapeake and Virginia Beach areas. Located at 1600 Premium Outlets Blvd. on Interstate 64, the village-style outlet mall features covered walkways, courtyards, a fountain, fireplace, public artwork, children’s play area, indoor and outdoor dining options and a 1.3-mile walking trail surrounding Lake Wright.

June 30, 2017

Midwest Ohio Retail

Cooper Commercial Negotiates $2.9M Sale of Jesse James Plaza in Toledo, Ohio

by Kristin Harlow June 30, 2017

TOLEDO, OHIO — The Cooper Commercial Investment Group has negotiated the sale of the Jesse James Plaza, a 35,850-square-foot retail center in Toledo, for $2.9 million. Examples of tenants include Safelite Autoglass, Wings & Grill and Reynolds Laundromat. The Kansas-based buyer purchased the property for 96 percent of the list price. Bob Havasi and Dan Cooper of Cooper Commercial represented the seller, a private investment group out of Ohio.

June 30, 2017

California Retail Western

Soma Capital Partners Acquires Blue Oaks Marketplace in Rocklin for $19.2M

by Nellie Day June 30, 2017

ROCKLIN, CALIF. — Soma Capital Partners, in partnership with Timbercreek Asset Management, has acquired Blue Oaks Marketplace in Rocklin for $19.2 million. The seller was Diamond Creek Properties. At the time of sale, the 100,000-square-foot property was 81 percent leased.

June 30, 2017

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