Retail

NewMark Merrill Cos. Completes First Phase of $15M Retail Redevelopment in Inglewood

by Nellie Day January 6, 2017

INGLEWOOD, CALIF. — NewMark Merrill Cos. has completed the first phase of the $15 million redevelopment of Crenshaw Imperial Plaza in Inglewood. The 304,755-square-foot shopping center is located on the southwest corner of Crenshaw Boulevard and Imperial Highway. The first phase includes the remodel of the dd’s Discount and 99¢ Only Stores; converting the ground floor of the office building into retail space; and infrastructure improvements. The second phase will include the remodel of the remainder of the retail center and office building, which will be home to the 15,000-square-foot Mission View Charter School. The second phase is slated for completion by February. The firm has also started on the final phase of redevelopment, which includes the demolition of an obsolete two-story building and the construction of a Planet Fitness and a 14,215-square-foot building that is 100 percent pre-leased. Additionally, NewMark Merrill has secured a $34.4 million senior loan for the recapitalization of the project. PCCP provided the loan, which David Pascale of George Smith Partners arranged.

January 6, 2017

Florida Mixed-Use Retail Southeast

Publix Super Markets Breaks Ground on New Store at Downtown Doral Mixed-Use Development

by John Nelson January 6, 2017

DORAL, FLA. — Publix Super Market has broken ground on a new location at Downtown Doral, a mixed-use development by master developer Codina Partners located roughly 15 miles outside Miami in Doral. The Downtown Doral location will feature an enhanced selection of freshly prepared foods, as well as a large selection of natural and organic food. The new store will be designed with LED lighting technology and energy-efficient refrigeration and air conditioning. An expected opening has yet to be announced. Upon completion, Downtown Doral will feature 70 retail stores and restaurants, 400,000 square feet of Class A office space, 2,840 residential units, a charter elementary school and public green space.

January 6, 2017

California Retail Western

Fabletics To Open 12 New Stores in 2017

by Nellie Day January 6, 2017

LOS ANGELES — Fabletics, an activewear brand co-founded by Kate Hudson in 2013, will open 12 new locations in 2017. Following the openings, Fabletics will have 30 locations. The new stores will average just over 2,200 square feet and will open before fall 2017. The first opening will take place in Frisco, Texas, in March 2017 followed by Indianapolis; Lexington, Ky.; Schaumburg, Ill.; Boulder, Colo.; and Portland, Ore., in second quarter 2017. Beginning in July 2017, additional Fabletics stores will open in Scottsdale, Ariz.; Cerritos, San Jose, San Francisco and San Diego, Calif.; and Paramus, N.J.

January 6, 2017

Retail Southeast Top Stories Virginia

O’Connor Capital Acquires 265,000 SF Shopping Center in Charlottesville, Virginia for $121.1M

by Kristin Harlow January 6, 2017

CHARLOTTESVILLE, VA. — O’Connor Capital Partners has acquired The Shops at Stonefield in downtown Charlottesville, near the University of Virginia, for $121.1 million. The 265,000-square-foot lifestyle shopping center is located at the intersection of Hydraulic Road and Route 29. The Shops at Stonefield was nearly 90 percent leased at the time of sale to tenants such as Trader Joe’s, lululemon athletica, Vineyard Vines, Pottery Barn, Williams-Sonoma, Brooks Brothers, Orvis, bluemercury and Regal Cinema. The shopping center was built in two phases in 2013 and 2016 and features a Costco, which was not part of the transaction. Concurrent with the acquisition, L.L. Bean has leased 15,000 square feet at the center with plans to occupy the space this summer. O’Connor Capital purchased the asset from Edens. Peter Bergner of O’Connor Capital’s Palm Beach office will handle leasing for The Shops at Stonefield. O’Connor Capital is an institutional real estate investment, management and development firm based in New York City. Edens develops, owns and operates community-oriented shopping places in primary markets across the country. — Kristin Hiller

January 6, 2017

New York Northeast Retail

A&G Realty Partners Retained to Sell Lease of 17,000 SF Retail Property in Manhattan

by Amy Works January 5, 2017

NEW YORK CITY — Gracious Home has retained A&G Realty Partners to manage the sale of the lease of its 17,000-square-foot retail property in Manhattan’s Chelsea neighborhood. The retailer is selling the lease on the property due to its recent Chapter 11 bankruptcy filing. Located between Broadway and Sixth Avenue, the property features 8,500 square feet of street-level space and 8,500 square feet of lower level space.

January 5, 2017

Oklahoma Retail Texas

Marcus & Millichap Arranges Sale of Walmart Outparcel in Stillwater, Oklahoma

by Amy Works January 5, 2017

STILLWATER, OKLA. — Marcus & Millichap has brokered the sale of a Walmart outparcel located at 621 S. Country Club Road in Stillwater. The 40,075 square feet of commercial land is situated adjacent to a Walmart Supercenter and offers utilities and road frontage. Tom Mann and Derek Wilson of Marcus & Millichap represented the seller, a limited liability company, and secured the buyer, a bank/financial institution, in the deal. The acquisition price was not released.

January 5, 2017

Indiana Midwest Retail

DealPoint Merrill, SVN International Acquire 110,000 SF Shopping Center in Hammond, Indiana

by Kristin Harlow January 5, 2017

HAMMOND, IND. — DealPoint Merrill and SVN International have acquired Gateway Promenade in Hammond, located about 25 miles south of downtown Chicago. The 110,000-square-foot shopping center is anchored by Aldi and Planet Fitness. David Frank of DealPoint Merrill negotiated the transaction, while Sterling McGregor handled the due diligence for the sale. Jason Limbert, Shane Gonzales and Andro Torres of DealPoint Merrill completed the acquisition and underwriting. Wayne Caplan of SVN Chicago Commercial represented the property. The seller was Sabal Financial.

January 5, 2017

Michigan Midwest Retail

Dental One Partners, Sport Clips Sign Leases at the Shops of Canton in Michigan

by Kristin Harlow January 5, 2017

CANTON, MICH. — Dental One Partners and Sport Clips have joined the Shops of Canton. The 3,200-square-foot dental office and 1,740-square-foot men’s hair salon are located in the shopping center on Ford Road across from IKEA. With the new leases, the center is now fully leased. Other tenants include Starbucks, Sprint, Tom+Chee and MOD Pizza. Tjader Gerdom and Larry Siedell of Gerdom Realty represented the owner and procured the new tenants.

January 5, 2017

Midwest Retail Wisconsin

Total Wine & Spirits Signs 25,000 SF Lease at 84South in Greenfield, Wisconsin

by Kristin Harlow January 5, 2017

GREENFIELD, WIS. — Total Wine & Spirits has signed a 25,000-square-foot retail lease at 84South in Greenfield, a suburb of Milwaukee. The mixed-use development is being built on 48 acres near Interstate 894, according to the Milwaukee Journal Sentinel, the local newspaper. Phase I is slated to open this summer. Scott Satula and Dan Rosenfeld of Mid-America Real Estate represented the landlord in the transaction.

January 5, 2017

Maryland Retail Southeast

Greysteel Brokers $19.9M Sale of Shopping Center in Metro Baltimore

by John Nelson January 5, 2017

REISTERSTOWN, MD. — Greysteel has arranged the $19.9 million sale of Chartley Park-Landmark Shopping Center, a 144,000-square-foot retail property located at 1 Chartley Drive and 501 Main St. in Reisterstown. Gil Neuman of Greysteel represented the seller, Chartley and Landmark Shopping Center LLLP, and procured the buyer, MD Equities LLC. Situated in Baltimore County, Chartley Park-Landmark was 94 percent leased at the time of sale to tenants such as Brick Bodies, M&T Bank, Family Dollar, Boost Mobile, Citgo, ATI Physical Therapy and Metro PCS.

January 5, 2017

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