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RestaurantRetailTexas

Weitzman Brokers Sale of Stonehue Center in San Antonio

by Haisten Willis

SAN ANTONIO — The Weitzman Group, representing a Florida-based investment partnership, has brokered the sale of Stonehue Shopping Center in San Antonio. The 21,004-square-foot retail center is located at 20323 Huebner Road. A local investment group was the buyer. Daniel Mitchell and Marcus Shaffer of The Weitzman Group handled negotiations. The tenant mix includes Jersey Mike’s, India Tai Palace, Guero’s Taco Diner, Austin Driving School and Pizza Hut. The Weitzman Group will continue to handle leasing of the center under the new ownership.

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quiktrip-forest-lane-dallas
RetailTexas

Vitorino Group Negotiates Sale of Property Leased to QuikTrip in Dallas

by Haisten Willis

DALLAS — The Vitorino Group has negotiated the sale of a retail property net-leased by QuikTrip on Forest Lane in Dallas. The 4,636-square-foot property is located on three acres. QuikTrip has less than one year left on its lease. Anthony Pucciarello and Jared Aubrey of The Vitorino Group marketed the property on behalf of the seller, an out-of-state private investor. The duo also represented the buyer, an Oklahoma-based company.

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CaliforniaRetailWestern

Westwood Restructures $1.2B in Assets into Single, Privately Held Company

by Nellie Day

LOS ANGELES — Los Angeles-based Westwood Financial Corp. has restructured ownership of 77 of its 120 retail center holdings and its management company to form a single, $1.2 billion retail real estate company. The new company, Westwood Financial, is now positioned to more easily access capital and appeal to investors with larger appetites, and has streamlined its operations. The company recently rebranded in conjunction with the restructuring, launching a new logo, signage and a new tagline: “Retail. Evolved.” A new website is currently underway, and will launch soon. Westwood will own and operate more than $1.2 billion in retail assets and will provide third-party asset management and related services for $200 million worth of properties owned by the co-founders of the firm.

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CaliforniaRetailWestern

CBRE Brokers $15.5M Sale of Montclair Shoppes Near Los Angeles

by Nellie Day

MONTCLAIR, CALIF. — CBRE Group Inc. has arranged the $15.5 million sale of Montclair Shoppes, an 18,889-square-foot shopping center located in Montclair, roughly 30 miles outside of downtown Los Angeles. Ken McLeod and Tim Kuruzar of CBRE represented the seller, BOSC Realty Advisors, in the sale of the property to an undisclosed buyer based in West Los Angeles. The center is home to tenants including Sleep Number, AT&T and Tommy’s Hamburgers.

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CaliforniaRetailWestern

Marcus & Millichap Arranges Sale of Saich Way Station in Cupertino for $16.5M

by Nellie Day

CUPERTINO, CALIF. — Marcus & Millichap has arranged the $16.5 million sale of Saich Way Station, a 15,525-square-foot shopping center located less than one mile from Apple Inc.’s headquarters in Cupertino. Kirk Trammell, Vincent Schwab, David Cutler and Joshua Johnson of Marcus & Millichap represented the seller, Borelli Investment Co. Tenny Tsai of Cushman & Wakefield represented the buyer, a family exchanging out of a redevelopment site in San Francisco. Tenants at the center include Vitamin Shoppe, T-Mobile, The Melt, H&R Block, Blast 825 Pizza, Site for Sore Eyes and the Coder School Cupertino.

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CaliforniaRetailWestern

Hanley Investment Negotiates $6M Sale of Retail Pad Site in Metro LA

by Nellie Day

ONTARIO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $6 million sale of a 6,786-square-foot retail pad site shadow-anchored by a new Walmart Supercenter in Ontario, roughly 35 miles outside of downtown Los Angeles. Eric Wohl of Hanley represented the seller, Pacific Development Group, in the transaction. James Kwon with Coldwell Banker Best Realty represented the buyer, an undisclosed private investor based in Irvine. The building was fully occupied at the time of sale by tenants including T-Mobile, Yogurtland, Waba Grill and Wells Fargo.

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CaliforniaRetailWestern

CBC Advisors Brokers $4M Sale of Single-Tenant Retail Building in Orange

by Nellie Day

ORANGE, CALIF. — Coldwell Banker Commercial (CBC) Advisors has arranged the $4 million sale of a two-story, single-tenant retail building located in the historic Orange Circle in Orange. An undisclosed local private investor acquired the 7,350-square-foot property, located adjacent to Wells Fargo. Scott Hook of CBC represented both the undisclosed seller and the buyer in the transaction.

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IllinoisMidwestRetail

Mid-America Arranges $150M Sale of Five-Property Retail Portfolio in Chicago

by John Nelson

CHICAGO — Mid-America Real Estate Corp. has brokered the $150 million sale of a five-property retail portfolio in Chicago known as the Smithfield Chicago Urban Portfolio. Chicago-based Acadia Realty Trust purchased the properties from Chicago-based Smithfield Properties. The assets included State & Washington Shops, with a tenant roster that includes Nordstrom Rack and H&M; 151 N. State St., a flagship Walgreens store at the corner of State and Randolph streets; North & Kingsbury Center, which is leased to Old Navy, Pier 1, Blick Art Materials and Modani Furniture; California & Armitage Shops, leased to PNC Bank, 7-Eleven, The UPS Store, Sally Beauty Supplies and Athletico; and Milwaukee & Concord Shops, leased to 7-Eleven, The UPS Store and Kriser’s. Joe Girardi and Stan Nitzberg of Mid-America Real Estate represented Smithfield Properties in the transaction.

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Mixed-UseMultifamilyOfficeRestaurantRetailTexas

CIM Group, Seaholm Power Sell Seaholm Mixed-Use Development in Austin

by Haisten Willis

AUSTIN, TEXAS — CIM Group and Seaholm Power LLC have sold the Seaholm Power Plant mixed-use development located at the southwestern edge of downtown Austin. The centerpiece of the project is the 126,000-square-foot, repurposed power plant constructed in the 1950s. The redeveloped Seaholm Power Plant includes four floors of office space designed for its major tenant, athenahealth. Boiler Nine Bar + Grill, a 10,000-square-foot restaurant spanning all four levels, is also part of the redevelopment. Boiler Nine’s concept at Seaholm includes Deck Nine Observatory Bar, a rooftop bar with views of Austin and Lady Bird Lake, and The Boiler Room, a den located on the lowest level of the power plant near the original boiler room. The five acres surrounding the power plant have been redeveloped into a mixed-use space with a 1.5-acre public plaza and multifamily residences. The property also includes a 68,000-square-foot office building and 33,000 square feet of ground-floor retail space anchored by a Trader Joe’s. Construction began on the Seaholm Power Plant project in April 2013, with athenahealth opening its doors in February 2015.

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IndustrialRetailTexas

Shop Cos. Brokers Sale of Deep Eddy Vodka Distillery in Metro Austin

by Haisten Willis

DRIPPING SPRINGS, TEXAS — Shop Cos. Investment Sales has brokered the sale of a Deep Eddy Vodka distillery in Dripping Springs. The 27,724-square-foot, net-leased distillery also serves as a tasting room and an events center. Located 25 miles southwest of downtown Austin, the property fronts West Highway 290 and is near Ranch Road 12. At the time of closing, there were over 17 years remaining on an original 20-year net lease with two, five-year renewal options. Heaven Hill Brands acquired Deep Eddy Vodka in September 2015. Tommy Tucker and Tim Axilrod of Shop Cos. represented the seller, an Austin-based limited liability company. A California-based limited liability company was the buyer.

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