Retail

Broken Barrel to Open at One Lakes Edge in The Woodlands

by Katie Sloan March 11, 2016

THE WOODLANDS, TEXAS — Broken Barrel is set to open a 3,483-square-foot restaurant on the ground level of One Lakes Edge, an 825,000-square-foot multifamily and retail complex located within Hughes Landing in The Woodlands. Broken Barrel is a wine bar featuring tapas and small plates. Construction will begin on the restaurant in late April, with an expected completion in June. The location will feature a large outdoor patio overlooking Lake Woodlands. The space is being leased from The Woodlands Development Co., and will be operated by managing partners Hilda Ysusi, Joaquin Valle and Josh Cundy.

March 11, 2016

Florida Retail Southeast

Marcus & Millichap Arranges $26.1M Sale of Walmart Supercenter in Fort Lauderdale

by John Nelson March 11, 2016

FORT LAUDERDALE, FLA. — Marcus & Millichap has brokered the $26.1 million sale of a 189,543-square-foot Walmart Supercenter in Fort Lauderdale. Wal-Mart Stores Inc. has a 20-year absolute net ground lease for the store, which is located within Riverbend Marketplace, a new 36-acre retail development less than three miles from Fort Lauderdale’s central business district. The store is the newest prototype for Walmart Supercenters, according to Marcus & Millichap. Lori Schneider of Marcus & Millichap, along with Aztec Group, represented the seller, Gatlin Development, in the transaction. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the buyer, a 1031 exchange investor.

March 11, 2016

California Retail Western

O’Reilly Automotive Enterprises Acquires Three Land Parcels in Los Banos

by Nellie Day March 11, 2016

LOS BANOS, CALIF. — O’Reilly Automotive Enterprises has acquired three retail land parcels in Los Banos. O’Reilly acquired a 15,912-square-foot parcel and a 17,291-square-foot land parcel, both located at the northwest corner of Pacheco Pass and Sixth Street, from Balatti Family Trust for undisclosed price. Additionally, O’Reilly purchased a 14,288-square-foot land parcel at the northwest corner of Pacheco Pass and Sixth Street in Los Banos from Douglas Balatti Revocable Trust. Lewis Smith of Retail California brokered the three transactions.

March 11, 2016

Illinois Midwest Retail

BlueRoad Ventures Acquires National Retail Portfolio for $139M

by Christina Cannon March 11, 2016

CHICAGO — Chicago-based BlueRoad Ventures has acquired a national retail portfolio for $139 million. Brauvin Net Lease, a Chicago-based private REIT, sold the portfolio, which consists of 48 assets across 18 states. Retail brands such as CVS, Fresenius, Tractor Supply Co. and Advance Auto Parts occupy the properties. Much Shelist, a law firm, represented BlueRoad in the transaction.

March 11, 2016

California Retail Western

Marcus & Millichap Brokers $3.2M Sale of Retail Property in Palm Desert

by Nellie Day March 11, 2016

PALM DESERT, CALIF. — Marcus & Millichap has arranged the sale of Coco’s Bakery & Restaurant, located at 78375 Varner Road in Palm Desert. An individual/personal trust acquired the 6,887-square-foot net-leased property for $3.2 million. Don Emas of Marcus & Millichap represented the seller, a limited liability company, while Emas and Kevin Struve, also of Marcus & Millichap, represented the buyer in the transaction.

March 11, 2016

California Retail Western

SRS Real Estate Partners Launches National Net Lease Group

by Nellie Day March 11, 2016

NEWPORT BEACH, CALIF. — Dallas-based SRS Real Estate Partners has launched SRS National Net Lease Group, a newly created platform offering advisory services for investors of single-tenant and net lease retail properties nationwide. Leading the new platform as managing principals and co-founders are Matthew Mousavi and Patrick Luther, formerly of Faris Lee Investments, who will be based in SRS’ Newport Beach office. In their roles, they will lead a collaborative net lease platform with SRS’ investment sales professionals across the U.S., while managing all marketing and transactions from the Newport Beach office. In addition, Mousavi and Luther will also lead investment sales of all other retail property types in the Southern California market, including multi-tenant and portfolio sales. Mousavi and Luther have a track record of more than $2 billion in closings, and 20 years of experience handling retail investments.

March 11, 2016

Midwest Retail Wisconsin

The Dickman Company Brokers Sale of 36,106 SF Retail Building in Milwaukee Suburb

by Christina Cannon March 11, 2016

BROOKFIELD, WIS. — The Dickman Company Inc./CORFAC International has brokered the sale of a 36,106-square-foot building formerly occupied by Grasch Foods. TMPN Lilly LLC purchased the building located at 13950 W. North Ave. in Brookfield, a western suburb of Milwaukee, for an undisclosed price. GSG Realty LLC was the seller. Samuel D. Dickman and Samuel M. Dickman Jr. of The Dickman Company were the sole brokers in the transaction.

March 11, 2016

Mixed-Use Multifamily New Jersey Northeast Office Restaurant Retail

O’Neill Properties Completes Remediation, Starts Construction of The Pointe at Sayreville

by Amy Works March 10, 2016

SAYREVILLE, N.J. — O’Neill Properties Group (OPG) has completed brownfield remediation at the 40-acre lagoon at The Pointe, a $2.2 billion mixed-use project in Sayreville. Vertical construction will commence in spring 2016 on a 200,000-square-foot Bass Pro Shops Outdoor World, which will be the largest Bass Pro in the country outside of its original flagship operation. When OPG acquired the 440-acre site in 2008, the company committed to cleaning the massive brownfield contamination, including a 40-acre lagoon that was contaminated with titanium dioxide waste byproducts from the former on-site National Lead manufacturing facility. The cost of the nine-year remediation project was $8 million. Upon build out, The Pointe will bring 725,000 square feet of retail space; 2,000 upscale waterfront townhomes and luxury apartments; 32,000 square feet of Class A office space; and 1,250 hotel rooms. Additional community amenities will include a 45,000-square-foot community and fitness center, a 9,700-square-foot facility for fire and EMS services and a 10,000-square-foot performing arts center, as well as a rooftop solar farm. Project partners include MLP Builders, Maser Consulting and Ripco Real Estate.

March 10, 2016

Retail Texas

Regency Centers, CDC Houston to Develop Kroger-Anchored Retail Center in Springwoods Village

by Katie Sloan March 10, 2016

SPRING, TEXAS — Regency Centers Corp., in a joint venture with CDC Houston, is set to develop, own and manage The Market at Springwoods Village, a 170,000-square-foot shopping center located within the master-planned community of Springwoods Village. The center will be anchored by a 100,000-square-foot Kroger, which will offer pharmacy and fuel services, alongside other retail and dining tenants. The project is seeking LEED Silver certification and is set to feature oversized patios and mature landscaping. Construction on the center is scheduled to begin this month, with an opening expected for spring 2017. Springwoods Village is a $10 billion, 1,800-acre community situated along the west side of I-45 in Spring.

March 10, 2016

Mixed-Use Multifamily New York Northeast Office Retail

Trinity Place Holdings Receives Approvals for 77 Greenwich Development

by Amy Works March 10, 2016

NEW YORK CITY — Trinity Place Holdings has received approval of modifications from the Landmarks Preservation Committee for the 77 Greenwich development, which is slated for completion in 2019. Designed by FXFOWLE Architect, the 500-foot tower will feature 85 luxury residential condominiums, 7,000 square feet of retail space on Greenwich Street and a 476-seat elementary school serving District 2. The development site includes the former Syms clothing store and the 19th-century landmarked Dickey House. Recently approved design modifications include the lowering of the ground floor of Dickey House along Greenwich Street, the elimination of the school entry court signage plyon and the reduction of the tower’s south cantilever.

March 10, 2016

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