SANTA MARIA, CALIF. — Phillips Edison Grocery Center REIT II has acquired Broadway Pavilion in Santa Maria for an undisclosed price. The 142,944-square-foot center is anchored by Food Maxx, a banner of Save Mart, a private chain of supermarkets that owns and operates stores in Northern and Central California and Northern Nevada. Additional tenants include Starbucks Coffee, Subway, Sally Beauty, Rent-A-Center, Cricket Wireless, Play It Again Sports, Party City, Hallmark and Federal Credit Union.
GERMANTOWN, TENN. — Trademark Property Co. has signed three new retailers to join Saddle Creek, a 173,000-square-foot outdoor lifestyle retail center in Germantown, roughly 22 miles east of Memphis. The new tenants include Atlanta-based American Threads, Sephora and Sur La Table. American Threads will open its 1,995-square-foot store next to Janie and Jack later this year; Sephora will open its 5,701-square-foot store next to Michael Kors later this year; and Sur La Table will open its 5,807-square-foot store next to Brooks Brothers in 2017. Saddle Creek is currently home to 40 retailers, including Apple, Anthropologie, J. Crew and Banana Republic. Other retailers opening this summer include Grimaldi’s Pizzeria, Paper Source and Sleep Number.
In real estate, where some see an eyesore, others can sometimes find opportunity. Such was the case with The Mayfair Collection, a new regional shopping center in Wauwatosa, Wis., located approximately 10 miles west of downtown Milwaukee. Just a few years ago, the 69-acre site was filled with old, obsolete industrial buildings that were mostly unoccupied, but the City of Wauwatosa and our firm, Chicago-based HSA Commercial, shared the vision of transforming the vacant industrial park into a vibrant mixed-use community. The project initially involved adaptively repurposing 1 million square feet of warehouse space into a contemporary retail destination that has brought national retailers like Nordstrom Rack and Saks Fifth Avenue OFF 5TH to Wisconsin. The development also has helped launch new national brands such as J. Crew Mercantile and Off/Aisle by Kohl’s. The once-empty industrial structures are now completely transformed into lively shops and restaurants that are drawing customers from all over southeast Wisconsin. Phase I: Find the right mix What historically made the site attractive for industrial use — its highly accessible location, at the interchange with U.S. Highway 45 and Burleigh Street, less than five miles north of Interstate 94 — also made it ideal for retail, …
OLD BRIDGE, N.J. — The Brunetti Organization is developing The Oaks at Glenwood, a 2,400-acre mixed-use town center development in Old Bridge. Construction for the 90,000-square-foot ShopRite supercenter is slated to begin soon, with occupancy of the grocery store and other retail tenants scheduled for summer 2017. ShopRite will anchor the retail portion of the property. Upon completion, the mixed-use property will feature 2,000 residential units and more than 500,000 square feet of retail space. The Goldstein Group is marketing the retail portion of the property.
MIAMI — Swire Properties Inc., along with co-developers Whitman Family Development and Simon Property Group, has signed 11 new retailers as tenants of Brickell City Centre’s 500,000-square-foot shopping center in Miami. The new retailers joining the $1.05 billion development are Baldinini, Boglioli, Bruno Magli, Carmen Steffens, Hugo Boss, Lafayette 148, Samsonite, Sephora, SPARIS, Tommy Bahama and Violetas/ Baccarat. Set to open in November, the shopping center will comprise more than 70 retailers and eateries. Swire Properties is incorporating a Miami Metromover stop that exits directly into the shopping center’s third floor. The shopping center will also feature a two-story underground carpark that traverses streets in the lower level. Other components of Brickell City Centre opening this year include Reach, a condominium tower that opened in April; Rise, a condominium tower opening this summer; Three Brickell City Centre, a Class A office tower that opened in February; and Two Brickell City Centre, an office tower set to open this summer.
WALNUT CREEK, CALIF. — Tallen Capital Partners LLC and Citivest Commercial LLC, alongside an undisclosed equity partner, will redevelop Rossmoor Shopping Center, a 108,000-square-foot retail center located in Walnut Creek. The phased redevelopment will include a refreshed façade, the addition of a drive-thru pharmacy, enhanced landscaping with the addition of new plazas and gathering spaces, new lighting and a public art component. The redevelopment will bring an additional 29,000 square feet of space to the property. Groundbreaking is scheduled to take place in the fourth quarter of 2016 with completion expected in late 2017. Norman Sears of SGPA’s San Francisco office will lead the architectural design team for the project. Recent lease signings for the center include a long-term lease with Safeway, CVS/pharmacy, Better Homes & Gardens and Starbucks Coffee.
CONCORD, CALIF. — Sterling Organization has acquired Olivera Crossing, a 47,571-square-foot shopping center located in Concord, from West Valley Properties for $12 million. The asset, located roughly 30 miles outside of San Francisco, was acquired through the firm’s institutional fund Sterling Value Add Partners II LP. Dan Wald of Cushman & Wakefield represented the seller in the transaction. Planet Fitness anchors the 77 percent occupied center, which was originally built in 1960 and underwent renovations in 2005.
AUSTIN, TEXAS — Cushman & Wakefield has acquired Oxford Commercial in Austin. Oxford Commercial has served clients in the areas of commercial real estate brokerage, investment sales, development consulting, market research and related advisory services since 1993. The company employs 35 brokers and staff members and has been behind many of the largest transactions in central Texas, including Athena Health’s lease inside the Seaholm Power Plant. In the past three years, Oxford Commercial’s transaction value totals reach $1.3 billion. Spencer Hayes, co-founder and managing partner of Oxford Commercial, will remain as managing principal under the new structure. Hayes worked for Cushman & Wakefield prior to founding Oxford Commercial.
CARROLLTON, TEXAS — 85°C Bakery Café has selected Carrollton Town Center in Carrollton for its first store in Texas and will open the location this summer. The Taiwan-based 85°C Bakery Café chain has more than 800 stores in Taiwan, China, Australia, Hong Kong and the United States. The company specializes in espresso coffee made from Guatemalan beans along with gourmet desserts. In the United States, the company previously focused mainly on California, where it has opened 10 stores since 2008. Carrollton Town Center, owned by NewQuest Properties, offers a 10- to 15-mile trade area for 85°C’s target market. The company plans to open three more stores in metro Dallas within a year, along with one in Houston. The café will span 5,771 square feet along with a 600-square-foot patio.
SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of three land tracts at the 1400 Sonterra development located at the southwest corner of US 281 North and East Sonterra Boulevard in San Antonio. SACA’s Paul Fagan represented the owner, CLDC Texas LLC, and was responsible for the sale of all three tracts, which total 10 acres. CLDC Texas originally owned approximately 300 acres near the property, most of which is now occupied by a Walmart, Costco and the Methodist Stone Oak Hospital. Only nine acres remains available as the city has experienced strong growth in the area since CLDC originally obtained the land in 1993. The sales included 3.8 acres to CHRISTUS Santa Rosa Health Care Corp. Paul Barker of Endura Advisory Group represented CHRISTUS in the transaction. Other transactions included 1.6 acres to Brundage Mini Storages LTD #3, which is planning a 600-unit, climate-controlled self storage facility at the site. Bert Denson of Brundage Management Co. Inc. represented Brundage Mini Storage in the deal. The final land sale included 4.4 acres to an unnamed buyer that intends to make a more detailed announcement …