Retail

Deauville Food Hall The Summit at Fritz Farm Lexington

Bayer Properties to Develop Food Hall at The Summit at Fritz Farm in Lexington

by John Nelson March 16, 2016

LEXINGTON, KY. — Bayer Properties plans to develop an artisan food hall at The Summit at Fritz Farm, a mixed-use development located in Lexington. Deauville Food Hall will feature eight to nine food and beverage concepts and will incorporate architectural elements from the original tobacco barns on Fritz Farm, as well as a landscaped outdoor terrace conceived by local garden designer Jon Carloftis. Local eateries already committed to The Deauville Food Hall include Crank & Boom Craft Ice Cream, a small-batch artisan ice cream maker employing locally sourced ingredients, and an offshoot of Lexington-based Athenian Grill. The Summit is set to open in March 2017.

March 16, 2016

Retail Southeast Virginia

L.L.Bean to Open New Store at Lynnhaven Mall in Virginia Beach

by John Nelson March 16, 2016

VIRGINIA BEACH, VA. — Outdoor retailer L.L.Bean has signed a lease with General Growth Properties Inc. (GGP) to open a new store at Lynnhaven Mall in Virginia Beach. The retailer will open its new 16,700-square-foot store in the spring of this year. Existing retailers at the mall include Altar’d States, Vera Bradley, White House | Black Market, Build-A-Bear Workshop, Victoria’s Secret, Jump Trampoline Park and House of Hoops by Foot Locker. Since 2013, GGP has implemented a multi-million dollar renovation of the mall, including a new food court, two-story Main Street-style court, upgraded amenities, new mall entrance and a new retail and dining component that will include valet parking services. GGP plans to complete the renovations by the fall.

March 16, 2016

Louisiana Retail Southeast

SRSA Negotiates 34,000 SF Retail Lease for Sportsman’s Warehouse in Metro New Orleans

by John Nelson March 16, 2016

SLIDELL, LA. — SRSA Commercial Real Estate has arranged a 34,000-square-foot lease for Sportsman’s Warehouse in Slidell, making it the first Louisiana location for the outdoor retailer. The store will join the tenant roster at the Shops at Rouses, a shopping center located on Kensington Boulevard that’s home to existing retailers such as Rouses and Petco. Kirsten Early and Collin Homes of SRSA Commercial represented Sportsman’s Warehouse, which currently has 66 locations open and operating. Larry Haik of Dale Stram & Associates LLC represented the landlord.

March 16, 2016

Georgia Loans Retail Southeast

Bellwether Enterprise Arranges $2.4M Acquisition Loan for Retail Strip Center in Metro Atlanta

by John Nelson March 16, 2016

MARIETTA, GA. — Bellwether Enterprise has arranged a $2.4 million acquisition loan for Grove Park Plaza, a 30,600-square-foot retail strip center located in Marietta, a northern suburb of Atlanta. The two-building property sits on 5.3 acres at 1812 Powder Springs Road. Kelly Martone of Bellwether Enterprise’s Atlanta office arranged the loan through StanCorp on behalf of the borrower, Petinos LLC.

March 16, 2016

California Retail Western

Coldwell Banker Commercial- SC Hires Two New Advisors

by Nellie Day March 16, 2016

TEMECULA, CALIF. — Coldwell Banker Commercial- SC’s retail division has hired Janet Kramer and Jay Brun. The pair will serve as senior advisors to the company’s offices in Temecula, San Diego, Redlands and Ontario. Kramer and Brun have more than 45 years of combined commercial real estate experience. They will focus on creating a platform for retail brokers and lead the team as market advisors on all things retail related. Kramer was previously a retail specialist with Grubb & Ellis|WestMar and Voit Real Estate Services. Her 14-year real estate career has focused on retail development, leasing and sales. Brun has completed more than 100 transactions with national credit tenants. His 29-year career has primarily focused on retail development and tenant representation. Brun was previously with Lee & Associates.

March 16, 2016

Retail Western

Broe Real Estate Acquires Oceanview Village Shopping Center in San Francisco for $30.6M

by Nellie Day March 15, 2016

SAN FRANCISCO — Broe Real Estate Group has acquired Oceanview Village Shopping Center, a 98,406-square-foot shopping center located in San Francisco, for $30.6 million. Broe Real Estate and operating partner Citivest Commercial plan to reposition the property through improvements including façade upgrades, new landscaping, entrance lighting, parking lot upgrades and a new signage program. Tenants at the center include Albertsons, Walgreens, 24-Hour Fitness and Chase Bank. Crosspoint Realty will act as property manager, while Todd Oliver and Drew Greenspan of Cushman & Wakefield will act as leasing representatives for the asset.

March 15, 2016

California Retail Western

Hanley Investment Group Arranges $11.8M Sale of Retail Property in Huntington Park

by Nellie Day March 15, 2016

HUNTINGTON PARK, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant, absolute net-leased Walgreens property, located at 6100 Pacific Blvd. in Huntington Park. A private investor based in Northern California acquired the 15,525-square-foot property for $11.8 million. Walgreens has more than 22 years remaining on its initial 30-year term. Patrick Kent and Bill Asher of Hanley Investment Group represented the seller, a private investor based in Los Angeles, while Nigel Keep and Bill Kurfess of Kidder Mathews represented the buyer in the transaction.

March 15, 2016

Hawaii Retail Western

Nordstrom Opens New Store at Ala Moana Center in Honolulu

by Nellie Day March 15, 2016

HONOLULU — Nordstrom Inc. has opened its new, relocated store at Ala Moana Center in Honolulu. The three-level, 186,000-square-foot store features new interior and exterior design concepts, a full-service restaurant and bar, cocktail lounge and new departments. The store is a relocation from its previous home at the other end of the mall, which opened in 2008. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 326 stores in 39 states, including 121 full-line stores in the United States, Canada and Puerto Rico; 197 Nordstrom Rack stores; two Jeffrey boutiques; and one clearance store.

March 15, 2016

Mixed-Use Multifamily Retail Texas

CBRE | UCR Completes 94-Acre Land Sale in Dallas for Mixed-Use Development

by Haisten Willis March 15, 2016

DALLAS — CBRE | UCR has brokered the sale of 94 acres at the northwest corner of Lancaster Road and I-20 in southern Dallas. Centurion American, based in Farmers Branch, purchased the tract from Sun NLF for an undisclosed price. The parcel will be added to an assemblage of land, currently spanning 294 acres, for a proposed mixed-use development called University Hills. The development will include townhomes, multifamily units, entertainment and retail. Lots should be available beginning in summer 2017. Thurston Witt of CBRE | UCR represented the seller in the transaction. Robert Maxey of MetroCom Properties represented the buyer.

March 15, 2016

Massachusetts Northeast Retail

Fantini & Gorga Secures $7.3M in Financing for Two Retail Properties in Massachusetts

by Amy Works March 15, 2016

SOMERVILLE AND TAUNTON, MASS. — Fantini & Gorga has arranged two loans totaling $7.3 million in permanent financing on two retail properties in Massachusetts. In the first transaction, Fantini & Gorga arranged $2 million in refinancing for a 17,500-square-foot strip center in Somerville. The borrower was a long-term client of Fantini & Gorga. The 20-year fixed-rate loan, which was provided by a regional financial institution, features a 25-year amortization schedule. In the second deal, Fantini & Gorga secured $5.3 million in refinancing on an existing CMBS loan for a 30,000-square-foot strip center in Taunton. The new 10-year loan was originated with another CMBS lender. Mark Whelan and Wayne Clough of Fantini & Gorga arranged the financing for both transactions.

March 15, 2016

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