Retail

Adam Smith’s Texas Harley-Davidson Opens New Dealership in Metro Dallas

by Haisten Willis June 20, 2016

BEDFORD, TEXAS — Adam Smith’s Texas Harley-Davidson has opened a new dealership in Bedford. In March 2015, design/build contractor Bob Moore Construction broke ground on the new home for Texas Harley-Davidson, intended to consolidate the company’s operations into one facility and give it room to expand in the future. The new dealership features 71,000 square feet of retail, office and service department space. A large metal awning with black trim spans the front and side of the building, with metal panels and sections of glass curtain wall showcase the motorcycles within. The building is fronted with 100,000 square feet of customer parking and paved motorcycle display space. Behind the building is a driver’s training space to support the safety classes provided by Texas Harley-Davidson. The interior retail space was designed to provide a dynamic blend of old style warehouse and industrial styles. Stained finish concrete accented with wood taken from old wine and whiskey barrels accent the showroom. The walls feature Harley-Davidson artwork along with sections of old brick.

June 20, 2016

Marcus & Millichap Arranges $4M Sale of Mixed-Use Building in Brooklyn

by Amy Works June 20, 2016

NEW YORK CITY — Marcus & Millichap has arranged the sale of a mixed-use property located at 524 Lorimer St. in Brooklyn. A limited liability company acquired the 3,384-square-foot building for $4 million. The purchaser was a 1031 exchange buyer from the Upper East Side. Shaun Riney, James Saros, Michael Salvatico and Matthew Steinberg of Marcus & Millichap’s Brooklyn office represented the seller and buyer in the transaction.

June 20, 2016

California Retail Western

Marcus & Millichap Brokers $10.1M Sale of 22,812 SF Retail Center in Simi Valley

by Nellie Day June 20, 2016

SIMI VALLEY, CALIF. — Marcus & Millichap has arranged the sale of the Shops at Target Center, a retail center in Simi Valley. A 1031 exchange investor acquired the 22,812-square-foot property for $10.1 million, or $445 per square foot. Located at 2931-2941 Cochran St., the retail center features a mix of 12 tenants, including restaurants, a private gym and service-oriented shops. Aria Pournazarian, Mike Malick and Carol Song of Marcus & Millichap represented the seller, a development firm based in Los Angeles, and procured the buyer.

June 20, 2016

California Retail Western

Champion Real Estate Acquires 85,615 SF Retail Center in Glendora

by Nellie Day June 20, 2016

GLENDORA, CALIF. — Champion Real Estate Co. has acquired a grocery-anchored neighborhood retail center in Glendora for an undisclosed price. Located at 655 S. Grand Ave., the existing 85,615-square-foot property is a vacant grocery building. Champion plans to reconfigure and reposition the property as a smaller 70,500-square-foot, grocery-anchored neighborhood shopping center that will include several national credit tenants. Additionally, the center will include two retail pads in the existing parking field, plus additional supporting retail to expand the tenant base and meet community needs. The name of the seller was not released.

June 20, 2016

California Retail Western

Faris Lee Investments Brokers $4.6M Sale of 8,930 SF Single-Tenant Property

by Nellie Day June 20, 2016

VICTORVILLE, CALIF. — Faris Lee Investments has arranged the sale of a freestanding, single-tenant property located at 13615 Bear Valley Road in Victorville. Newport Beach, Calif.-based Giavictor Investments acquired the 8,930-square-foot property from OPT Bear Valley VV for $4.6 million. Built in 2008, KinderCare Learning Centers occupies the property. Shaun Riley of Faris Lee Investments represented the seller, while Diana Kaplan of ReMax FH Commercial represented the buyer in the deal.

June 20, 2016

California Retail Top Stories Western

Two Southern California Shopping Centers Change Hands for $352M

by Nellie Day June 20, 2016

LOS ANGELES AND SAN DIEGO — Savills Studley has arranged the sale of a pair of shopping centers in Southern California for a combined sales price of $352 million. In the first transaction, ROIC California purchased North Ranch Shopping Center, a 146,625-square-foot neighborhood shopping center in the Los Angeles submarket of Westlake Village, for $122.8 million. Ralphs Fresh Fare, Rite Aid, Trader Joes and Petco anchor North Ranch. It is located at 3815-3963 Thousand Oaks Blvd., one block from the 101 Freeway. In the second transaction, Stockbridge Capital Group purchased Mira Mesa Marketplace, a 487,807-square-foot regional shopping center in San Diego, for $229 million. Smart & Final Extra, CVS, Home Depot, Edwards Theatre, Ross, Old Navy and Barnes & Noble anchor Mira Mesa. It is located off Interstate 15 on Mira Mesa Boulevard. Bill Bauman and Kyle Miller of Savills Studley’s National Retail Services Group represented the unidentified seller of the two properties. ROIC California is an entity of the Retail Opportunity Investment Corp., a publicly traded REIT. Stockbridge Capital Group is a real estate investment firm headquartered in San Francisco. — Nellie Day

June 20, 2016

California Loans Retail Western

Marcus & Millichap Arranges $7M Refinancing for Ontario Village Shopping Center in California

by Nellie Day June 17, 2016

ONTARIO, CALIF. — Marcus & Millichap has arranged a $7 million refinancing for Ontario Village, a shopping center located in Ontario. The loan was structured with a five-year term amortized over 25 years with an adjustable interest rate of 4.75 percent. The 97,384-square-foot property is 75 percent occupied. Sharone Sabar of Marcus & Millichap’s Encino, Calif., office secured the debt placement for the undisclosed borrower.

June 17, 2016

California Retail Western

Construction Begins on 290,000 SF Toyota Dealership in Downtown Los Angeles

by Nellie Day June 17, 2016

LOS ANGELES — Shammas Group is developing a new Toyota dealership at the corner of Figueroa Street and Washington Boulevard in downtown Los Angeles. The four-story, 290,000-square-foot facility will feature a 22,600-square-foot, two-story showroom with a vehicle display, a 40-bay below-grade service department, and a wholesale and retail parts boutique. The project is slated for completion in fall 2017. Trammell Crow Co. is developing the building, PDS Architects is serving as project architect, ConAm Building Co. is serving as the contractor and Ware Malcom is overseeing interior design and tenant improvement.

June 17, 2016

California Retail Western

NAI Capital Negotiates $3.6M Sale of Red Lobster Property in Valencia

by Nellie Day June 17, 2016

VALENCIA, CALIF. — NAI Capital has arranged the $3.6 million sale of a Red Lobster property located at 27524 The Old Road in Valencia. Simonian Family 2008 Trust acquired the 9,487-square-foot property as a single-tenant, net-leased, fee-interest investment from Marquis Valley View LLC. Situated on 1.1 acres, Red Lobster has occupied the property since 1986. Yair Haimoff, Randy Cude and Steve Body of NAI Capital represented the seller in the transaction.

June 17, 2016

California Restaurant Retail Western

Habit Burger Grill, Chipotle Mexican Grill Join Peninsula Shopping Center

by Nellie Day June 17, 2016

ROLLING HILLS ESTATES, CALIF. — Two restaurants have joined Peninsula Shopping Center at 67 Peninsula Center in Rolling Hills Estates. Habit Burger Grill and Chipotle Mexican Grill both opened 2,500-square-foot restaurants across from the Pavilions. The fast-casual chain Habit Burger Grill focuses on its signature Charburgers, salads, sandwiches, shakes and french fries. Chipotle Mexican Grill specializes in Mission burritos, tacos, bowls and salads. Peninsula Shopping Center features more than 45 stores and eateries.

June 17, 2016

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