Retail

Mid-America Brokers Sale of 130,000 SF Shopping Center in St. Cloud, Minnesota

by Kristin Harlow October 31, 2016

ST. CLOUD, MINN. — Mid-America Real Estate-Minnesota LLC has brokered the sale of Division Place, a 130,000-square-foot shopping center in St. Cloud. Division Place is located on the corner of Division Street West and 27th Avenue South. Tenants include TJ Maxx, Dollar Tree and Famous Footwear. Joe Girardi and Mark Robinson of Mid-America Real Estate Corp. were the exclusive brokers in the transaction on behalf of the seller, Vanbarton Group. An affiliate of Core Acquisitions LLC purchased the center, and hired Mid-America Real Estate-Minnesota as the exclusive leasing and management firm.

October 31, 2016

Kansas Midwest Restaurant Retail

Block & Co. Arranges Sale of 1.1-Acre Pad Site to Burger King at The Plaza at the Speedway in Kansas City

by Kristin Harlow October 31, 2016

KANSAS CITY, KAN. — Block & Co. Inc. has sold a 1.1-acre pad site at the Plaza at the Speedway development in Kansas City to Burger King. The pad site is located on the northwest quadrant of I-435 and Parallel Parkway in front of Sam’s Club and Kohl’s. The Plaza at the Speedway is an 850,000-square-foot retail shopping center located in the heart of a major tourism district. Other tenants include Walmart Supercenter, Taco Bell and Chick-fil-A. Anchor space, pad sites and small shop spaces are still available. Alex Block and David M. Block of Block & Company represented the seller, Plaza Speedway Development Inc., in the transaction.

October 31, 2016

Midwest Nebraska Retail

40,408 SF Burlington Store Coming to Eagle Run Shopping Center in Omaha

by Kristin Harlow October 31, 2016

OMAHA, NEB. — The Lerner Company has unveiled plans for Burlington Coat Factory to open its second store in Omaha at Eagle Run Shopping Center, located at 4004 N. 132nd St. The new store will occupy a portion of the former Kmart, which closed in December 2014. The new 40,408-square-foot store will open in spring 2017. The opening will bring approximately 50 to 100 new jobs to the Omaha community. Eagle Run Shopping Center is one of The Lerner Company’s joint venture entities.

October 31, 2016

New York Northeast Retail

Stalco Construction Completes 5,000 SF Expansion, Renovation in Holtsville, N.Y.

by Amy Works October 31, 2016

HOLTSVILLE, N.Y. — Stalco Construction, as construction manager, has completed the expansion and renovation of H.O. Penn’s parts and service departments and retail area at the company’s 42,000-square-foot building, located at 660 Union Ave. in Holtsville. The scope of the 5,000-square-foot project included relocating the entrance of the retail and parts departments, updating the reception lobby, the demolition of preexisting offices and retail area and the installation of a new storefront-type entrance, retail section, customer support counter and a new office for the department manager. Additionally, the renovated sales floor features seven desks for sales staff and a private manager’s office. The project team included Rosebery Architectural Studio, The Maude Group, 2 Gang Electric and KK Signs.

October 31, 2016

California Retail Western

Faris Lee Arranges $56.6M Sale of Shopping Center in Rancho Santa Margarita

by Nellie Day October 28, 2016

RANCHO SANTA MARGARITA, CALIF. — Faris Lee Investments has arranged the sale of Plaza El Paseo at Rancho Santa Margarita Town Center, located at the corner of El Paseo and Alma Aldea in Rancho Santa Margarita. K&G El Paseo 1 & 2 LLC sold the property to Plaza El Paseo Center LLC for $56.6 million. Built in 2002, the 107,000-square-foot property is anchored by Bed, Bath & Beyond, BevMo and Wood Ranch BBQ. Rick Chichester, Nicholas Coo and Chris DePierro of Faris Lee represented the seller and buyer in the deal.

October 28, 2016

California Loans Retail Western

Calmwater Capital Originates $19.8M Loan for 98,000 SF Retail Center in Monrovia

by Nellie Day October 28, 2016

MONROVIA, CALIF. — Calmwater Capital has provided $19.8 million in financing to 723 EHD LLC for the acquisition and lease-up of Shamrock Center, a retail center located at 723-727 E. Huntington Drive in Monrovia. The financing consists of a $9 million senior term loan for the acquisition of the property and $10.8 million in additional potential funding for future leasing and tenant improvements. At the time of sale, the 98,000-square-foot property was 90 percent vacant due, in part, to the loss of its anchor tenant, a 70,000-square-foot Albertson’s that closed as a result of a consolidation strategy.

October 28, 2016

California Loans Retail Western

Newmark Realty Capital Arranges $10M in Acquisition Financing for Gelson’s Market in California

by Nellie Day October 28, 2016

LAGUNA BEACH, CALIF. — Newmark Realty Capital has arranged $10 million in financing for the acquisition of Gelson Market’s in Laguna Beach. The 34,478-square-foot grocery store is located on Pacific Coast Highway. George Mitsanas and Doug Tisdale of Newmark arranged the fixed-rate, non-recourse financing for the borrower, a Beverly Hills-based developer. The 10-year loan, provided by a life insurance company, features interest-only payments during the first five years and a 30-year amortization schedule.

October 28, 2016

California Retail Western

RCG Ventures Expands to West Coast with New Office in Los Angeles

by Nellie Day October 28, 2016

LOS ANGELES — RCG Ventures has expanded to the West Coast by opening a new office in Los Angeles. The company promoted Scott Tarbet to senior vice president and director of acquisitions – western region. In this role, Tarbet will oversee the new office. RCG Ventures currently owns 90 shopping centers, totaling 10 million square feet in 20 states. The company plans to acquire $250 million in value-add shopping centers.

October 28, 2016

inwood-forest-shopping-center-houston-texas

Retail Texas

M&M Negotiates Sale of 77,553 SF Retail Property in Houston

by Haisten Willis October 28, 2016

HOUSTON — Marcus & Millichap has negotiated the sale of Inwood Forest Shopping Center, a 77,553-square-foot, Foodarama-anchored retail property at the northeast corner of Antoine and Victory drives in Houston. Jerry Goldstein of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, Brixmor Property Group. Goldstein also represented the buyer, a limited liability company. The grocery-anchored shopping center was built in 1985 and is 96 percent leased to tenants including UT Physicians Clinic, City Gear and Wingstop. Inwood Forest Shopping Center is located at 7320-7372 Antoine Drive.

October 28, 2016

christian-brothers-automotive-carrollton-texas

Retail Texas

Vitorino Group Arranges Sale of Christian Brothers Automotive in Carrollton

by Haisten Willis October 28, 2016

CARROLLTON, TEXAS — The Vitorino Group has arranged the sale of Christian Brothers Automotive, a 4,790-square-foot auto mechanic located in Carrollton. James Mangum of The Vitorino Group marketed the property on behalf of the seller, a private investor from Colorado. The buyer, a Texas-based investor, was represented by an outside broker and bought the asset to fulfill a 1031 tax-deferred exchange.

October 28, 2016

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