Retail

Publix to Anchor New 59,600 SF Shopping Center in Huntsville

by Camren Skelton September 22, 2017

HUNTSVILLE, ALA. — Watkins Real Estate Group has signed a 45,600-square-foot lease with Publix Super Markets Inc. to anchor The Pinnacle at Providence, a 59,600-square-foot retail center under development in Huntsville’s Providence neighborhood. The Atlanta-based retail and multifamily development company acquired the 9.2-acre site in 2016 and recently secured construction financing through BB&T Corp. In addition to Publix, the tenant lineup includes Courtney Murray DDS, Allure Nails Spa and an additional 9,800 square feet of shop space. Watkins is pursuing other retail, dining and service tenants to fill the remaining space. The new Publix will be the Lakeland, Fla.-based grocer’s third location in the market. The Pinnacle at Providence is slated for completion in the first quarter of 2018.

September 22, 2017

New Jersey Northeast Retail

Unison Realty, ALTO Real Estate Acquire 120,349 SF Shopping Center in Toms River, New Jersey

by Amy Works September 22, 2017

TOMS RIVER, N.J. — Unison Realty Partners and ALTO Real Estate Funds have acquired Commons at Hooper, a community shopping center located at 1350 Hooper Ave. in Toms River, for $21.1 million. Built in 1987, the 120.349-square-foot property is situated on 14.6 acres and has a pad site for future development. Michaels, DSW Shoe Warehouse, Dollar Tree, Mattress Firm, Dress Barn, The UPS Store, Avenue, Sally Beauty, Jersey Mike’s Subs and Citi Financial are tenants at the 86 percent-leased center. Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephen Simonelli and Marc Duval of HFF marketed the property with bidding procedures approved by the United States Bankruptcy Court for the Southern District of New York in the Chapter 11 case of AC I Toms River LLC.

September 22, 2017

Retail Southeast Virginia

JCR Cos. Acquires Retail Center in Northern Virginia for $17.7M

by Camren Skelton September 22, 2017

FRONT ROYAL, VA. — Washington, D.C.-based The JCR Cos. has acquired Riverton Commons, a 69,496-square-foot shopping center in Front Royal, for $17.7 million. CBRE represented the seller, EDENS, and First Virginia Community Bank provided acquisition financing. Constructed in 2007, Riverton Commons is home to tenants including Valley Health Systems Urgent Care, Great Clips, Mattress Warehouse, Sweet Frog, Anytime Fitness, Hibbett Sports and Tropical Smoothie Café. The property is part of a 500,000-square-foot regional shopping center anchored by a Walmart Supercenter and a Lowe’s Home Improvement store. JCR plans to lease up the existing vacant space and either develop or sell the property’s five pad sites, two of which are vacant land.

September 22, 2017

Alabama Retail Southeast

GBT Realty Buys 234,124 SF Shopping Center in Tuscaloosa

by Camren Skelton September 22, 2017

TUSCALOOSA, ALA. — GBT Realty Corp. has purchased McFarland Plaza, a 234,124-square-foot shopping center in Tuscaloosa. Jim Hamilton, Richard Reid, Mike Allison and Brad Buchanan of HFF represented the seller, a partnership between DDR Corp. and TH Real Estate. Bill Fishel and Matthew Stewart of HFF secured a three-year, floating-rate loan through Värde Partners on behalf of the new owner. T.J. Maxx, Ross Dress for Less, Michaels and Stein Mart anchor the center. McFarland Plaza Shopping Center is also home to Cato, Dollar General, H&R Block, Pet Supplies Plus, Nail Club and Lendmark Financial. Located at 2600 McFarland Blvd. E., the center is approximately one mile south of the University of Alabama.

September 22, 2017

California Retail Western

InvenTrust Properties Acquires Grocery-Anchored Center in San Fernando Valley for $115M

by Nellie Day September 22, 2017

LOS ANGELES — InvenTrust Properties Corp. has purchased River Oaks, a grocery-anchored retail center located in the San Fernando Valley submarket of Los Angeles. An undisclosed seller sold the property for $115 million. Target, Sprouts, buybuyBaby, ULTA, Total Women Gym & Spa, Pier 1 Imports and Big 5 Sporting Goods occupy the 275,000-square-foot retail center.

September 22, 2017

California Retail Western

Progressive Closes Three New Leases for Perris Marketplace in Perris

by Nellie Day September 22, 2017

PERRIS, CALIF. — Progressive Real Estate Partners has closed three new leases at Perris Marketplace, located at 1700 N. Perris Blvd. in Perris, bringing the retail center to 100 percent leased. Baskin Robbins, Jamba Juice and Daniel’s Jewelers have signed leases at the 225,000-square-foot retail center, which Walmart Supercenter anchors. Additional tenants at the center include Starbucks Coffee, Popeye’s, Pieology, Chipotle, Yogurtland, Dickey’s Barbecue, America’s Best Contacts and Eyeglasses, Pacific Dental and Sally Beauty Supply. Paul Gamarini and Gretchen Lastra of Progressive Real Estate Partners represented the owners/developers, Trachman Indevco and Evergreen, in the transactions.

September 22, 2017

California Retail Western

Pacific Coast Commercial Arranges 12,440 SF Retail Lease in La Jolla

by Nellie Day September 22, 2017

SAN DIEGO — Pacific Coast Commercial has arranged a retail lease for San Diego-based Furniture & Accessory Retail Group at 8650 Villa La Jolla Drive in La Jolla. The company will open a Bassett Home Furnishings location at the 12,440-square-foot space at La Jolla Square. Total consideration of the lease is $3.9 million. Shirley Kanamu of Pacific Coast Commercial represented the tenant, while Reg Kobzi of CBRE represented the landlord, Florida-based 8650 Villa La Jolla Inc., in the deal.

September 22, 2017

California Retail Western

Sephora to Open New Location at Pacific Commons in Fremont

by Nellie Day September 22, 2017

FREMONT, CALIF. — Sephora has opened a new location at Vestar’s Pacific Commons, a 1.1 million-square-foot shopping center located at 43484 Boscelli Road in Fremont. The store will feature an assortment of makeup, skin care and fragrance. Additional tenants at the center include Nordstrom Rack, Old Navy, Kohl’s, Century Theatres, P.F. Chang’s China Bistro, Claim Jumper and Dickey’s Barbecue Pit.

September 22, 2017

Market Reports Retail Texas Texas Market Reports

Retail Tenant Mix Tops Mixed-Use Agenda

by Taylor Williams September 22, 2017

The terms “experiential retail” and “mixed-use development” are both thrown around heavily in the context of 21st century commercial real estate. As buzzwords for the changing landscape of retail real estate and encapsulations of the preferences of millennials, the terms are as popular in their usage as they are arbitrary in their application. Is an apartment building with a ground-floor restaurant or coffee shop really considered mixed-use? Is it actually legitimate to think of buying shoes or jewelry as an experience? The answer varies depending on who’s asked. But the fact remains that dividing lines between certain property classes are beginning to blur. Increasingly, office and multifamily projects are designed to include food, drink and entertainment options, which have become the only real common denominators among mixed-use projects. Given that those three facets of retail involve spending on one-time, consumable products and services, they have become the face of experiential shopping and spending. Integrating retail development into mixed-use projects, as opposed to standalone shopping centers or pad sites, comes with its own unique challenges: parking, noise restrictions and sourcing contractors that specialize in build-outs for multiple property types, to name a few. But developers realize that no matter how much …

September 22, 2017

Retail Texas

DIG Closes Sale of 196,630 SF Retail Power Center in Metro Dallas

by Taylor Williams September 21, 2017

LEWISVILLE, TEXAS — Disney Investment Group (DIG) has closed the sale of Lakepointe Towne Crossing, a 196,630-square-foot retail power center located at 709-735 Hebron Parkway in the Dallas metro of Lewisville. Anchored by Ross Dress for Less and Party City and shadow-anchored by Super Target, the property was 62 percent leased at the time of sale. DIG represented the seller, Retail Properties of America, in the transaction and procured the undisclosed buyer.

September 21, 2017

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