Retail

NAI United Arranges Sale of 40,000 SF Retail Building in Sioux City, Iowa

by Kristin Harlow January 13, 2017

SIOUX CITY, IOWA — NAI United LLC has arranged the sale of the Z Building in the Lakeport Commons power center in Sioux City. The sales price was not disclosed. The 40,000-square-foot structure is one of the buildings that makes up Lakeport Commons. Tenants at the shopping center include GAP Outlet, Buffalo Wild Wings, Maurices, Portrait Innovations, David’s Bridal, Regis, Peachwave, Game Lair and A La Mode. Dick Salem of NAI United brokered the transaction on behalf of the seller, Z Building LLC. Sam’s Property LLC purchased the center and hired NAI United Management to manage the Z Building.

January 13, 2017

Hospitality Mixed-Use Multifamily Restaurant Retail Texas

Bayside Land Partners to Develop $1B Mixed-Use Project in Rowlett, Texas

by Amy Works January 13, 2017

ROWLETT, TEXAS — Bayside Land Partners, a partnership between Kent Donahue and Wilks Development, is developing Bayside, a $1 billion master-planned project encompassing 262 acres and featuring a variety of retail, restaurants, residential units and a resort hotel in the Lake Ray Hubbard area of Rowlett. Designed as a pedestrian-friendly, open-air resort, Bayside will feature more than 1.5 million square feet of commercial space, 3,000 residential units, a 1,000-slip marina and 700 hotel rooms. Lifescapes International will provide landscape design services for the project, including the development of the first-ever Crystal Lagoon in Texas. A Crystal Lagoon is a new technology that creates man-made lagoons with crystal-clear, turquoise waters in order to create a beachfront property. Additionally, Lifescapes will design a 116-acre peninsula, including 25 acres of parks, a variety of retail rooftop gardens and beach zones and the perimeter of the eight-acre Crystal Lagoon. Construction on the lagoon is slated to start this March and the project is scheduled to open by spring 2019.

January 13, 2017

Retail Texas

RD Management Acquires 504,153 SF Shops at Tech Ridge in Austin

by Amy Works January 12, 2017

AUSTIN, TEXAS — RD Management has acquired Shops at Tech Ridge, a shopping center located in Austin, for an undisclosed price. Excluding the recently vacated Target store, the 504,153-square-foot property is 96 percent occupied. Since purchasing the property, RD Management has signed a lease with Floor & Décor for 77,958 square feet of space in the former Target store. Ross Dress for Less, PetSmart, Toys “R” Us and Conn’s HomePlus also occupy the center. The buyer plans to renovate the façade of the former Target space and develop two new pad sites at the center. The name of the seller was not released.

January 12, 2017

Industrial Loans Mixed-Use New Jersey Northeast Retail

NGKF Capital Markets Sells $24M Loan Portfolio for OceanFirst Bank

by Amy Works January 12, 2017

TOMS RIVER, N.J. — NGKF Capital Markets has arranged the sale of a $24 million loan pool from the OceanFirst Bank loan portfolio. Castlelake/Midwest Capital acquired the loans, which had an average size of $500,000. The loan pool was collateralized by a variety of industrial, retail and mixed-use assets located in nine southern New Jersey countries, including Atlantic and Ocean counties. Steven Schultz, Josh Malka and Tony Georgiev of NGKF Capital Markets represented the seller.

January 12, 2017

Georgia Retail Southeast

Urbana Holdings Buys Shopping Center Near Former GM Plant in Metro Atlanta for $14.5M

by John Nelson January 12, 2017

DORAVILLE, GA. — Urbana Holdings LLC has purchased Peachtree Pavilion, a 167,488-square-foot shopping center situated adjacent to the new Assembly mixed-use development, which is currently being constructed on the 165-acre site of the former GM assembly plant in Doraville. The sales price and seller were undisclosed, but the Atlanta Business Chronicle reports Crimson Peachtree Road Holdings LLC sold the property to Urbana Holdings for $14.5 million. Peachtree Pavilion is anchored by H Mart, an Asian-themed grocery chain with 59 locations in the United States.

January 12, 2017

Midwest North Dakota Retail

Mid-America Brokers Sale of 114,102 SF Retail Center in Bismarck, North Dakota

by Kristin Harlow January 12, 2017

BISMARCK, N.D. — Mid-America Real Estate Corp. has brokered the sale of Pinehurst Square East in Bismarck. The sales price was not disclosed. The 114,102-square-foot shopping center is located at the northeast quadrant of Interstate 94 and Tyler Parkway. Tenants include TJ Maxx, Old Navy and Shoe Carnival. Fargo, N.D.-based Dakota REIT purchased the property. Joe Girardi of Mid-America and Jill Dumeland of Dumelands Commercial Real Estate brokered the transaction on behalf of the undisclosed seller.

January 12, 2017

Retail Texas

Marcus & Millichap Brokers Sale of 19,253 SF Retail Property in Denton, Texas

by Amy Works January 11, 2017

DENTON, TEXAS — Marcus & Millichap has arranged the sale of Market Square at Unicorn Lake, a 19,253-square-foot retail property located at 2900 Wind River Lane in Denton. Built in 2008, the 100 percent occupied property features all triple-net leases. Bill Jordan of Marcus & Millichap represented the seller, a private investor, and secured the buyer, an out-of-state private investor, in the deal. The acquisition price was not released.

January 11, 2017

Retail Texas

Pierson Retail Advisors Negotiates Sale of 14,925 SF Retail Center in Palestine, Texas

by Amy Works January 11, 2017

PALESTINE, TEXAS — Pierson Retail Advisors has arranged the sale of Palestine Town Center, a retail center located in Palestine. A local buyer acquired the 14,925-square-foot property for an undisclosed price. At the time of sale, the property was 91 percent occupied by tenants including Western Finance, Preferred Income Tax and Livingston Hearing Aid Center. Pierson Retail Advisors represented the seller, a private individual, in the transaction.

January 11, 2017

Alabama Loans Retail Southeast

Bank of America Provides Refinancing for The Summit in Birmingham

by John Nelson January 11, 2017

BIRMINGHAM, ALA. — Bank of America has funded the refinancing of The Summit, a 1 million-square-foot trophy retail development in Birmingham. Built in phases in 1997 and 2009, The Summit’s retail tenant roster includes Apple, Trader Joe’s, Restoration Hardware, Carmike Cinemas, Bed Bath & Beyond, lululemon athletica, Anthropologie and West Elm. Restaurant tenants include P.F. Chang’s, Seasons 52, Cheesecake Factory, Macaroni Grill and California Pizza Kitchen. Situated on 102 acres at 125 Summit Blvd., The Summit is bordered by U.S. 280, I-459 and Cahaba Heights Road and was 99 percent leased at the time of financing. Jim Curtin led HFF’s debt placement team to place the 10-year, fixed-rate loan through Bank of America. The loan amount was not disclosed. The borrowing entity, a partnership between The Summit’s developer Bayer Properties LLC and Institutional Mall Investors LLC, which is a co-investment venture between Miller Capital Advisory Inc. and CalPERS, will use the loan proceeds to refinance an existing loan.

January 11, 2017

North Carolina Retail Southeast

SRS Real Estate Partners Brokers $8.4M Sale of Shopping Center in Charlotte

by John Nelson January 11, 2017

CHARLOTTE, N.C. — SRS Real Estate Partners’ Atlanta office has brokered the $8.4 million sale of Pineville Towne Market, a 83,526-square-foot shopping center located at 321 S. Polk St. in Charlotte. Situated on 8.7 acres at the intersection of Main and South Polk streets, the shopping center is anchored by Food Lion. F and L Meadow Creek LLC, a 1031 exchange buyer, purchased the property from LARC Asset Management and Realty Inc. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller, while Adam Russ of Berkeley Capital Advisors represented the buyer in the transaction.

January 11, 2017

Newer Posts

Older Posts