Retail

Bright Realty Brokers Leases for 11 Spirit Halloween Stores

by Haisten Willis September 2, 2016

LEWISVILLE, TEXAS — Bright Realty has brokered leases for 11 Spirit Halloween stores totaling 118,914 square feet. Most of the stores are located in the Dallas area, including locations in Allen, Arlington, Dallas, Desoto, Garland and Lewisville. Two of the stores are in Tyler, one is in Wichita Falls and one is in Oklahoma. The leases range in size from a 5,437 square-foot store in Fort Worth to a 30,000-square-foot store in Lewisville. Timothy McNutt and Britton Lankford of Bright Realty represented Spirit Halloween in the transactions.

September 2, 2016

InvenTrust Properties Acquires Kroger-Anchored Center in Alpharetta for $27.7M

by John Nelson September 2, 2016

ALPHARETTA, GA. — InvenTrust Properties, a retail REIT based in Oak Brook, Ill., has purchased Windward Commons, a 117,234-square-foot, Kroger-anchored shopping center in Alpharetta, for $27.7 million. The property is located at 12850 Highway 9 near the intersection of Windward Parkway and North Main Street. The shopping center was 99 percent leased at the time of sale to tenants such as Hallmark, Roasters and Ippolito’s Italian Restaurant.

September 2, 2016

Loans North Carolina Retail Southeast

Bank of North Carolina Provides $23.3M Acquisition Loan for Shopping Center in North Carolina

by John Nelson September 2, 2016

WILSON, N.C. — Bank of North Carolina has provided a $23.3 million acquisition loan for Heritage Crossing, a 311,030-square-foot, grocery-anchored shopping center in Wilson, roughly 40 miles west of Greenville. Travis Anderson and Cory Fowler of HFF worked on behalf of the borrower — a partnership between Collett Capital, Return Holdings and SilverCap Partners — to place the five-year, floating-rate loan with Bank of North Carolina. Harris Teeter, Ross Dress for Less, Marshalls, Best Buy, Belk, Bed Bath & Beyond and PetSmart anchor the fully occupied center. Other tenants include Starbucks Coffee, Rue 21, Five Below, Payless, Kay Jewelers, Moe’s Southwest Grill, Subway, AT&T Wireless, Cato and GNC.

September 2, 2016

Market Reports Retail Texas Texas Market Reports

The Prospect for Major Retail Expansion in the Rio Grande Valley is Predictable

by Haisten Willis September 2, 2016

Last summer, NAI Rio Grande Valley and Michael Uhrbrock, senior vice president of research at the University of Texas Rio Grande Valley, examined eight Rio Grande Valley cities to examine the history of retail sales between 2002 and 2014 and to forecast the future. The cities examined were McAllen, Brownsville, Harlingen, Edinburg, Pharr, Weslaco, Mission and Mercedes. We were working on a piece for the Rio Grande Valley Partnership’s Economic Development magazine. What we learned is quite interesting and presents an unusual view into the future potential for retail expansion in the Rio Grande Valley. Total retail sales in the eight cities increased $4.47 billion between 2002 and 2014. Forecasting the future required a view of low, median and high ranges of potential sales. Based on the high projections, it is anticipated that valley sales in these cities will increase by $13.68 billion between 2015 and 2030. A number of factors go into the results, but several factors are expected contribute to the expected increases. Growth in Many Sectors With 1,450,000 residents, the population of the Rio Grande Valley today is larger than that of nine states. Forecasts show the population will grow to 2.5 million by 2040, which does …

September 2, 2016

Midwest Missouri Retail Top Stories

BIG Shopping Centers, RED Development Acquire 516,268 SF Shopping Center Near Kansas City

by Christina Cannon September 2, 2016

LEE’S SUMMIT, MO. — A joint venture between BIG Shopping Centers USA and RED Development has acquired Summit Fair, a 516,268-square-foot shopping center, for an undisclosed price. Located 25 miles southeast of Kansas City in Lee’s Summit, Summit Fair is anchored by Macy’s and JCPenney. Other tenants in the open-air lifestyle center include Victoria’s Secret, Chico’s, Francesca’s and LOFT. Summit Fair boasts approximately 50 tenants. Along with the news of the acquisition, the joint venture also announced a 50,000-square-foot DICK’S Sporting Goods and a 20,000-square-foot H&M will open at Summit Fair in spring 2017. DICK’S Sporting Goods will relocate to Summit Fair from its existing store currently open at RED’s sister property, SummitWoods Crossing. An additional 5,000 square feet of space is available in the H&M building. “Summit Fair is already a dynamic, high-performing retail property serving a vibrant market, and the addition of DICK’S Sporting Goods, H&M and other top-drawing retail concepts sets the stage for continued success,” says Mike Ebert, managing partner at RED Development. The joint venture, known as BIG RED Portfolio LLC, has a portfolio consisting of 10 retail assets totaling over 3.5 million square feet in four states. Within the joint venture, BIG USA, acts primarily as a co-investment …

September 2, 2016

New Hampshire Northeast Retail

Vazza Acquires 35,000 SF Retail Center in New Hampshire

by Amy Works September 1, 2016

CONCORD, N.H. — The Vazza Real Estate Group has acquired an inline retail center located at 89 Fort Eddy Road in Concord for an undisclosed sum. The 35,000-square-foot multi-tenant property includes a corporate-owned Planet Fitness as a tenant. The buyer plans to invest in the property through a capital improvement and property management plan. The name of the seller was not released.

September 1, 2016

Illinois Midwest Retail

Inland Sells Mariano’s Fresh Market in Metro Chicago for $36.4M

by Christina Cannon September 1, 2016

VERNON HILLS, ILL. — Inland Private Capital Corp. has sold a Mariano’s Fresh Market in Vernon Hills, approximately 35 miles northwest of Chicago, for $36.4 million. The 71,248-square-foot grocery store, which is located on seven acres at 1820 N. Milwaukee Ave., was built in 2011. Inland completed the sale on behalf of one of its 1031 exchange investment programs. The buyer in the deal was undisclosed.

September 1, 2016

Midwest Minnesota Retail

Doran Cos. Acquires Retail Property in Minneapolis for $24.9M

by Christina Cannon September 1, 2016

MINNEAPOLIS — Doran Cos. has acquired a 90,000-square-foot retail property in Minneapolis for $24.9 million. Pfaff Calhoun LLC sold Calhoun Village Shopping Center, which is located at 3200 W. Lake St. The center is over 90 percent occupied and includes tenants such as Walgreens, Punch Pizza, Burger Jones and Barnes & Noble.

September 1, 2016

Industrial Iowa Market Reports Midwest Midwest Market Reports Mixed-Use Multifamily Office Retail Uncategorized

Sioux City Experiences ‘Crane Craze’ Across Property Types

by Christina Cannon September 1, 2016

The skies are dotted with cranes — not the type you would find on route west to the Sandhills of Nebraska, but the type synonymous with a robust economy. It is safe to say there have never been so many cranes at work in the history of Sioux City. Several large industrial projects are resulting in further development of retail and multifamily space that has been in demand for some time in Sioux City. Retail, entertainment wave Helping to draw residents and visitors alike out into the streets of Sioux City is the $130 million Hard Rock Hotel & Casino. The Hard Rock replaced the floating Argosy riverboat casino in a first-in-the-state competitive bidding war for a land-based casino. Due to the popularity of the development since it opened in August 2014, the Hard Rock already has plans to add an $8 million casino expansion by the end of the year. Hard Rock has played a vital role in making Sioux City a regional, cultural and entertainment destination. Dallas-based Anthony Properties is planning to deliver 350,000 square feet of retail space by the summer of 2018. The 64-acre site, located at the intersection of Sunnybrook Drive and Sergeant Road, is …

September 1, 2016

Loans Mixed-Use New York Northeast Office Retail

Thorofare Capital Secures $15.3M Loan for Mixed-Use Property in Brooklyn

by Amy Works August 31, 2016

NEW YORK CITY — Thorofare Capital has secured a $15.3 million fixed-rate bridge loan for a mixed-use property in Brooklyn’s Gowanus section. The property features 57,050 square feet of mixed-use space. Kevin Miller and Felix Gutnikov of Thorofare Capital arranged the recapitalization and tenant improvement/leasing commissions facility for the undisclosed borrower.

August 31, 2016

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