Retail

SRSA Commercial Brokers $17M Sale of Shopping Center in Metro New Orleans

by John Nelson January 27, 2017

MANDEVILLE, LA. — SRSA Commercial Real Estate has brokered the $17 million sale of Northlake Shopping Center, a 166,371-square-foot retail center in Mandeville, situated on the north shore of Lake Pontchartrain across from New Orleans. Northlake’s tenant roster includes The Fresh Market, Office Depot, Stage, Gordon’s of Mandeville and PetSmart. Steven Reisig and Kirsten Early of SRSA Commercial represented the buyer, Epic Real Estate Partners, in the transaction. Epic has retained SRSA Gulf South Management, a division of SRSA, to manage and lease the center.

January 27, 2017

Loans New Jersey Northeast Retail

Houlihan-Parnes Places $18M Loan for 400,000 SF Shopping Center in Lawrence, New Jersey

by Amy Works January 27, 2017

LAWRENCE, N.J. — Houlihan-Parnes Realtors has placed an $18 million first mortgage and credit facility for Lawrence Shopping Center, located at 2495-2421 Brunswick Pike and Harding Avenue in Lawrence. Acme Supermarket, Burlington Coat Factory and Staples are major tenants at the 400,000-square-foot property. A joint venture between JJ Operating Inc. and principals and investors from Houlihan-Parnes Realtors recently acquired the property.

January 27, 2017

Indiana Loans Midwest Retail

Deerwood Capital Arranges $3.6M Acquisition Loan for Retail Property in Indianapolis

by Kristin Harlow January 27, 2017

INDIANAPOLIS — Deerwood Real Estate Capital has arranged a $3.6 million loan for the acquisition of Washington Place in Indianapolis. The 100,000-square-foot retail property is located at 10105 E. Washington St. Tenants include HHGregg, Big Lots and Lumber Liquidators. Jeff Berger of Deerwood negotiated the 10-year, non-recourse loan on behalf of the borrower, ABS Management.

January 27, 2017

Illinois Midwest Retail

Baum Brokers $1M Sale of Retail Building in Chicago Suburb

by Kristin Harlow January 27, 2017

GLENVIEW, ILL. — Baum Realty Group LLC has brokered the sale of a retail building in Glenview, a suburb of Chicago, for $1 million. The 4,150-square-foot building is located at 1107 Waukegan Road. Danny Spitz and Greg Dietz of Baum represented the undisclosed seller. A Chicago-based investment group purchased the property in a 1031 exchange.

January 27, 2017

New York Northeast Retail

Alpha Realty Negotiates $6.2M Sale of Retail Property in Brooklyn

by Amy Works January 26, 2017

NEW YORK CITY — Alpha Realty has brokered the sale of a retail property located at 6214 11th Ave. in Brooklyn’s Borough Park section. An undisclosed buyer acquired the property for $6.2 million. The 6,000-square-foot property features eight commercial units. Additionally, the acquisition included a vacant lot with 11,000 square feet of buildable space. Glenn Raff and Lev Mavashev of Alpha Realty represented the undisclosed seller, while Jacob Aranov, also of Alpha Realty, represented the buyer.

January 26, 2017

Mixed-Use Multifamily Retail Texas

EDGE Capital Negotiates Acquisition of 38,549 SF Mixed-Use Building in Houston

by Amy Works January 26, 2017

HOUSTON — EDGE Capital Markets has brokered the acquisition of Art Square Center, a mixed-use building located at 4118 Fannin St. in Houston. Kline Ventures acquired the 38,549-square-foot property from Fannin VP for an undisclosed price. The building features a mix of retail, studio and residential space. Josh Jacobs and Burdette Huffman of EDGE Capital Markets represented the buyer in the transaction.

January 26, 2017

Louisiana Mississippi Retail Southeast

Schostak Brothers Acquires Retail Portfolio in Southeast, Texas

by John Nelson January 26, 2017

LIVONIA, MICH. — Schostak Brothers & Co. Inc., a metro Detroit-based real estate investment firm, has purchased a portfolio of six retail properties adjacent to Walmart Supercenters in Mississippi, Louisiana and Texas. The company purchased the assets, which total nearly 160,000 square feet, through SFP Pool Seven LLC for an undisclosed price. The properties include Eagle Plaza-Ruston at 1401 Eagle Drive in Ruston, La.; Eagle Plaza-Farmerville at 775 Sterlington Highway in Farmerville, La.; Eagle Plaza-Forest at 1303 Highway 35 South in Forest, Miss.; Eagle Plaza-Cleveland at 710 N. Davis Ave. in Cleveland, Miss.; Sulphur Marketplace at 301-341 N. Cities Services Highway in Sulphur, La.; and Stone Street Plaza at 1101 Stone St. in Kilgore, Texas. Occupancy for the six locations averages 92 percent, with tenants including Cato Fashions, Dollar Tree, Hibbett Sports, PetSense, Rue 21 and Shoe Show. With these transactions, Schostak Brothers has 73 shadow Walmart retail assets in its portfolio.

January 26, 2017

Florida Retail Southeast

Stiles Expands Retail Development Platform with New Senior Management Appointments

by John Nelson January 26, 2017

FORT LAUDERDALE, FLA. — Stiles, a Fort Lauderdale-based real estate development firm established in 1951, has made new appointments to its senior management team. The moves will expand the company’s retail development platform. Stiles has promoted Ryan Karlin, who has held roles in both retail brokerage and development throughout his 14-year career at Stiles, to president of Stiles Retail Group. Karlin will build on the company’s portfolio of approximately 4 million square feet of grocery-anchored shopping centers and power centers and will oversee the group’s operations, strategy, development and redevelopment activities. In addition, several Stiles veteran development associates have transitioned to Stiles Retail Group and will be responsible for project execution. Stiles has also promoted Justin Siemens to vice president and development officer within the firm’s Real Estate Investment Group (REIG), which oversees the retail, office and residential divisions. Siemens will be responsible for sourcing new opportunities and creating and proving feasibility of commercial development plans. Siemens started with Stiles in 2014 and has helped to originate new development transactions, including land acquisitions and properties for redevelopment. In recent retail news for Stiles, the company recently completed two grocery-anchored retail developments in Florida and three in North Carolina. Stiles, along …

January 26, 2017

Illinois Midwest Retail

Joint Venture Acquires 441,995 SF Lifestyle Center in Normal, Illinois

by Kristin Harlow January 26, 2017

NORMAL, ILL. — A joint venture between ALTO Real Estate Funds and M & J Wilkow Ltd. has acquired The Shoppes and Plaza at College Hills located in Normal, just north of Bloomington. The 441,995-square-foot, open-air shopping center was 95 percent leased at the time of sale to tenants including Gordmans, Hobby Lobby, Francesca’s, Chico’s, J.Jill and White House/Black Market. M & J Wilkow will manage the shopping center, and The Pollard Group will serve as leasing agent. HFF arranged $13.4 million in acquisition financing for The Shoppes. Benefit Street Partners LLC provided the 10-year, fixed-rate loan. HFF also marketed the property on behalf of the seller, Miller Capital.

January 26, 2017

California Retail Western

Blatteis & Schnur, Morgan Stanley Acquire Macy’s Men’s Store in San Francisco for $250M

by Nellie Day January 25, 2017

SAN FRANCISCO — A partnership between Blatteis & Schnur and Morgan Stanley Real Estate Investing has acquired the 250,000-square-foot Macy’s Men’s Store located on Union Square in San Francisco for $250 million. The joint venture will redevelop the eight-story property, located at 120 Stockton St., into a mixed-use, retail-driven center. Anticipated uses for the development include flagship retail, art galleries, artisanal food, upscale restaurants and creative office space. A rooftop amenity is also being considered for the project, scheduled to open in 2021. Macy’s Men’s Store will remain as a tenant while the design, renovation and leasing of the new development progresses. Eastdil Secured acted as advisor to Macy’s Inc. in the transaction.

January 25, 2017

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