Retail

L&B Realty Advisors Acquires Whole Foods-Anchored Center in Metro Birmingham

by John Nelson February 6, 2017

MOUNTAIN BROOK, ALA. — L&B Realty Advisors has purchased Cahaba Village, a 115,180-square-foot shopping center located along US 280 in the Birmingham suburb of Mountain Brook. The company purchased the property free and clear of existing debt for an undisclosed price on behalf of an institutional separate account client. Cahaba Village’s tenant roster includes Whole Foods Market, Mountain High Outfitters and Bryant Bank. Jim Hamilton, Richard Reid, Barry Brown, Ryan Shore, Mike Allison and Brad Buchanan of HFF represented the undisclosed seller in the transaction. Birmingham-based Bayer Properties developed Cahaba Village in 2007 and sold it to Clarion Partners in 2010, according to the Birmingham Business Journal.

February 6, 2017

Massachusetts Northeast Office Retail

Synergy Investment Sells 53,000 SF Office, Retail Building in Boston for $21.8M

by Amy Works February 6, 2017

BOSTON — Synergy Investment has completed the disposition of an office and retail building located at 26 West St. in Boston’s Ladder District. Boston-based Eden Properties acquired the property for $21.8 million. Services Employee International Union occupies a portion of the building on a long-term lease. Scott Dragos of Colliers International Boston represented the seller in the deal.

February 6, 2017

Loans New Jersey Northeast Retail

Cronheim Mortgage Secures $10.3M Refinancing for Retail Property in Franklin Park, New Jersey

by Amy Works February 6, 2017

FRANKLIN PARK, N.J. — Cronheim Mortgage has secured $10.3 million in refinancing for a grocery-anchored retail center located in Franklin Park. The non-recourse loan features a three-year term and a 30-year amortization schedule. A mix of local and national retailers, including Dollar General and PNC Bank, occupy the 67,531-square-foot property. The name of the borrower was not released.

February 6, 2017

Loans New York Northeast Retail

Integra Real Estate Capital Arranges $5.5M in Refinancing for Retail Center in Syracuse

by Amy Works February 6, 2017

SYRACUSE, N.Y. — Integra Real Estate Capital has arranged a $5.5 million non-recourse loan for the refinance of Camillus Plaza, a retail center located in Syracuse. Rite Aid Pharmacy, Visionworks and Solvay Bank anchor the 45,000-square-foot shopping center. Meyer Perlman of Integra secured the 10-year fixed-rate loan through a CMBS lender for the borrower, a New York-based ownership group.

February 6, 2017

Loans Retail Texas

Metropolitan Capital Advisors Arranges $12.7M Acquisition Loan for Shopping Center in McKinney, Texas

by Amy Works February 3, 2017

MCKINNEY, TEXAS — Metropolitan Capital Advisors has arranged a $12.7 million loan for the acquisition of Craig Crossing Shopping Center in McKinney. The loan features a 6.13 percent fixed interest rate with interest-only payments throughout the loan term at 65 percent loan-to-value. Todd McNeill of Metropolitan Capital Advisors arranged the loan for the undisclosed borrower.

February 3, 2017

Retail Texas

Marcus & Millichap Negotiates Sale of 50,937 SF Retail Property in Houston

by Amy Works February 3, 2017

HOUSTON — Marcus & Millichap brokered the sale of Ponderosa Shopping Center, a retail property located at 16300 Kuykendahl Road in Houston. An individual/personal trust sold the 50,937-square-foot property for an undisclosed price. At the time of sale, the property, which was built in 1983, was 61 percent leased. Jerry Goldstein of Marcus & Millichap represented the seller and buyer, a limited liability company, in the deal.

February 3, 2017

California Retail Western

Faris Lee Brokers $3.3M Sale of Retail Property in Hesperia

by Nellie Day February 3, 2017

HESPERIA, CALIF. — Faris Lee Investments has arranged the sale of a single-tenant, triple-net leased retail property located at 14075 Main St. in Hesperia. Hesperia-Main Street LLC sold the 3,600-square-foot property to a Los Angeles-based private investor for $3.3 million, or $911 per square foot. U.S. Bank occupies the property, which was built in 2007. Nicholas Coo and Joseph Chichester of Faris Lee Investments represented the seller in deal.

February 3, 2017

California Retail Western

Progressive Real Estate Brokers $2.5M Sale of Retail Pad in Yucca Valley

by Nellie Day February 3, 2017

YUCCA VALLEY, CALIF. — Progressive Real Estate Partners has arranged the sale of Shoppes @ Balsa 62, a multi-tenant retail pad located at 58132 Twentynine Palms Highway in Yucca Valley. A Northern California-based investor acquired the 6,518-square-foot property for $2.5 million, or $391 per square foot. Greg Bedell and Victor Buendia of Progressive Real Estate represented the seller, a Nevada-based private investor, and the buyer in the deal.

February 3, 2017

California Retail Western

Vestar Inks Two New Tenants at Pacific Commons in Fremont

by Nellie Day February 3, 2017

FREMONT, CALIF. — Vestar has signed two new tenants at Pacific Commons, a 1.1 million-square-foot retail property located at 43484 Boscell Road in Fremont. i-Tea and uBreakiFix are slated to open stores in the first quarter. Located near Vitamin Shoppe, i-Tea will offer traditional teas, as well as fruit-based teas, creamas, slushies, smoothies and classic milk teas. uBreakiFix, which will be located near Applebee’s, offers repair services for a variety of technical devices.

February 3, 2017

Retail South Carolina Southeast

Morgan Construction to Build Two Aldi Stores in South Carolina

by John Nelson February 3, 2017

CONWAY, S.C. — Morgan Construction Co. has been awarded a contract to build its 100th and 101st Aldi stores in the Southeast. The two new stores will be located in Conway. The Chattanooga, Tenn.-based contractor has previously built Aldi stores in eight states in the region, including all six Aldi stores in southeast Tennessee and northwest Georgia over the past decade. The German grocer awards contracts one project at a time, according to Morgan Construction.

February 3, 2017

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