Retail

Carlyle Realty Partners V Sells Centennial Shops for $32M in Edina, Minnesota

by Kristin Harlow October 28, 2016

EDINA, MINN. — Carlyle Realty Partners V LP has sold Centennial Shops in Edina to Farmington Hills, Mich.-based Ramco-Gershenson Properties Trust for $32 million. The sale of the shopping center, located along France Avenue at 3825 Gallagher Drive, is the largest transaction by dollar amount for a retail property in the Minneapolis-St. Paul market so far this year. The 85,200-square-foot lifestyle center was 100 percent leased at the time of sale and includes tenants such as West Elm and the Container Store. George Good, executive vice president in CBRE’s Chicago office, and Jim Leary, senior vice president in Minneapolis, marketed the property for sale.

October 28, 2016

Maryland Retail Southeast

Simon Opens Clarksburg Premium Outlets in Metro D.C.

by John Nelson October 28, 2016

CLARKSBURG, MD. — Simon has opened Clarksburg Premium Outlets, a 392,000-square-foot outlet mall located at 22705 Clarksburg Road in Clarksburg, about 30 miles north of Washington, D.C. Simon developed the property in a joint venture arrangement with New England Properties and Streetscape. Retailers operating at Clarksburg Premium Outlets include a Nike Factory Store, Under Armour, Ann Taylor Factory, Banana Republic Factory, Gap Outlet, Armani Outlet, Kate Spade New York, Michael Kors, Saks Fifth Avenue OFF 5th, All Saints and Tory Burch. The property is the country’s first two-story outdoor outlet shopping center and Simon’s second LEED-certified Premium Outlet center.

October 28, 2016

Midwest Retail Wisconsin

The Boulder Group Arranges $1.6M Sale of Building Net Leased to Dollar Tree in Green Bay, Wisconsin

by Kristin Harlow October 28, 2016

GREEN BAY, WIS. — The Boulder Group has completed the sale of a newly constructed single-tenant building occupied by Dollar Tree at 1940 Main St. in Green Bay for $1.6 million. Dollar Tree is leasing the 10,000-square-foot property for 10 years with three five-year renewal options. The seller was a Midwest-based real estate development company and the buyer was a Midwest-based real estate investment firm. Randy Blankstein and John Feeney of The Boulder Group represented both parties in the transaction.

October 28, 2016

Loans New York Northeast Office Retail

Himmel + Meringoff Properties, The Swig Company Receive $200M in Financing for 8 Times Square

by Amy Works October 28, 2016

NEW YORK CITY — Himmel + Meringoff Properties and The Swig Company have received a $200 million mortgage loan for the refinancing of 8 Times Square, a 220,000-square-foot office and retail property located at 1460 Broadway in New York City. The loan was provided by Citigroup. The 16-story property offers 185,000 square feet of office space and 35,000 square feet of retail space. Current tenants of the property include WeWork and Foot Locker. Robert Sorin, Julianne Befeler, Chad Sandler and Jason Robinson of Fried Frank acted as counsel to the companies in the transaction.

October 28, 2016

Mixed-Use Multifamily Office Restaurant Retail Texas

Economic, Demographic Trends Boost Dallas/Fort Worth Land Market

by Haisten Willis October 28, 2016

The booming land market in north Texas reflects a convergence of economic and demographic trends resulting in a dramatic expansion of residential communities, new mixed-use developments and the transformation of retail centers across the region. The result is higher land values, shifting land uses and developers, planners and designers adapting to the evolving lifestyles of a new generation of workers. Demand for well-located land parcels across multiple property types is reaping handsome returns for landowners. The land market in Dallas/Fort Worth is experiencing strong transaction volume and record prices due to a range of factors. Developers are responding to strong housing demand by building new residential communities that are accessible to Dallas/Fort Worth employment centers. Multifamily construction continues as some 360 people move into the region daily, many not ready for home ownership. New mixed-use developments are catering to a steady stream of corporations relocating to the area and seeking work settings that provide live/work/eat/play environments. Neighborhood grocery stores and restaurants are multiplying to support growing demand, while regional malls are being repurposed as spending habits shift. These trends have played a major role in the growth of urban centers like Dallas’ central business district, Uptown Dallas and Fort Worth’s …

October 28, 2016

Connecticut Northeast Retail

Katz Properties Acquires Somerset Square in Glastonbury, Connecticut, for $26.6M

by Amy Works October 27, 2016

GLASTONBURY, CONN. — Katz Properties has purchased Somerset Square, a retail center in Glastonbury, for $26.6 million. Situated on 15.3 acres, the 112,414-square-foot property is fully leased to a variety of tenants, including Stop & Shop, Barnes & Noble Bookstore, FedEx and the Paper Store. Tim Breda of Goedecke & Co. arranged mortgage financing for the acquisition. Winslow Property Management will provide leasing and property management services for the retail center. The name of the seller was not released.

October 27, 2016

Connecticut Northeast Retail

SH Corp. Completes $10.8M Sale of 65,303 SF Retail Property in Orange, Connecticut

by Amy Works October 27, 2016

ORANGE, CONN. — SH Corp. has completed the disposition of a retail property located at 249/259 Bull Hill Lane in Orange. AS Realty LLC acquired the 65,303-square-foot property for $10.8 million. Situated on seven acres, the property is fully leased to ShopRite through a 20-year net lease and an auto repair shop. Jim Koury of HFF represented the seller and procured the buyer in the deal.

October 27, 2016

California Retail Western

Colliers Brokers $19.8M Sale of Town Center Plaza in Palm Desert

by Nellie Day October 27, 2016

PALM DESERT, CALIF. — Colliers International has arranged the $19.8 million sale of Town Center Plaza, an 82,000-square-foot shopping center located in Palm Desert. Tenants at the center include Trader Joe’s, Michaels, Banner Mattress, Tuesday Morning, Fisherman’s Market and Grill, The Palms Café and Uncle Don’s Hobbies. Bill Barnett and Doug Hogan of Colliers represented the buyer, Citivest Commercial Investments LLC, in the acquisition of the property from Town Center Plaza LP.

October 27, 2016

California Multifamily Retail Western

CBRE Arranges $13.4M Sale of Shops on Hill in Pasadena

by Nellie Day October 27, 2016

PASADENA, CALIF. — CBRE has arranged the $13.4 million sale of Shops on Hill, a 32,685-square-foot mixed-use center in Pasadena. The two buildings are located on opposite corners of the intersection of East Washington Boulevard and North Hill Avenue, and feature 12 apartments with ground-floor retail. Shops on Hill LLC, an entity controlled by Engine Real Estate, acquired the property.

October 27, 2016

hebron-heights-1012-west-hebron-parkway-carrollton-texas

Retail Texas

Shopoff Acquires Hebron Heights Retail Center in Carrollton for $8.1M

by Haisten Willis October 27, 2016

CARROLLTON, TEXAS — Shopoff Realty Investments, a manager of value-add real estate investments, has acquired a 36,000-square-foot retail center in the Dallas suburb of Carrollton for $8.1 million. The property, Hebron Heights, is located at 1012 W. Hebron Parkway in the north Carrollton submarket. Anchored by Pet Supplies Plus, the retail center is 100 percent leased to national, regional and local tenants. Hebron Heights was constructed in 2004 on 8 acres located less than one mile east of the Sam Rayburn Tollway.

October 27, 2016

Newer Posts

Older Posts