Retail

Williams Co. Southeast to Remodel Over 20 Target Stores in Florida, North Carolina

by John Nelson July 7, 2016

ORLANDO, FLA. — Williams Co. Southeast, an Orlando-based general contractor and construction manager, plans to remodel more than 20 Target stores in Florida and North Carolina. The company recently finished the remodel of three Florida stores in Gainesville, Jacksonville and Wesley Chapel and two North Carolina stores in Durham and Greensboro. Williams expects to wrap up construction of all the remodeled stores by October. The company has previously constructed more than 400 Target projects in 11 states.

July 7, 2016

Florida Retail Southeast

Marcus & Millichap Brokers $8.3M Sale of Net-Leased Urban Outfitters in Palm Beach County

by John Nelson July 7, 2016

DELRAY BEACH, FLA. — Marcus & Millichap has brokered the $8.3 million sale of a net-leased Urban Outfitters store located at 306 E. Atlantic Ave. in Delray Beach. Urban Outfitters signed a 10-year lease with two five-year renewal options in May 2014. The 11,073-square-foot, two-story store is fully leased to Urban Outfitters. Howard Bregman of Marcus & Millichap’s Fort Lauderdale office represented the buyer, Menin Development Inc., in the transaction. Last year Bregman represented Menin in acquiring the neighboring George Buildings at 326 and 400 E. Atlantic Ave.

July 7, 2016

Alabama Retail Southeast

Bayer Properties to Buy 125 Acres of Land Near The Summit Birmingham

by John Nelson July 7, 2016

BIRMINGHAM, ALA. — Bayer Properties has placed a 125-acre tract of land across Highway 280 from The Summit Birmingham under contract. AT&T is selling a large portion of the tract in connection to its plan to relocate various offices within Birmingham. Bayer Properties plans to develop a project that will be complementary to The Summit and the surrounding area. The Summit’s tenant roster includes Belk, Gus Mayer, Saks Fifth Avenue, Anthropologie, Gap, J. Crew, Urban Outfitters, Carmike Summit 16, Orvis, lululemon athletica, Gymboree, Restoration Hardware and Pottery Barn. Birmingham-based Bayer Properties currently owns and/or operates retail and office properties totaling approximately 10 million square feet, including The Summit in Birmingham.

July 7, 2016

California Retail Western

Faris Lee Investments Brokers $5M Sale of Rite Aid Property in Moreno Valley

by Nellie Day July 6, 2016

MORENO VALLEY, CALIF. — Faris Lee Investments has arranged the sale of a Rite Aid property located at 24991 Alessandro Blvd. in Moreno Valley. Karaglanov Trust acquired the asset from P&A Development for $5 million. Built in 1998 and situated on 1.66 acres, the property features 16,730 square feet of retail space. Jeff Conover of Faris Lee represented the seller, while Century 21 Golden Realty represented the buyer in the deal.

July 6, 2016

California Retail Western

Matthews Retail Advisors Negotiates $3.6M Sale of 7-Eleven Property in Carlsbad

by Nellie Day July 6, 2016

CARLSBAD, CALIF. — Matthews Retail Advisors has brokered the sale of a retail property located at 5802 Van Allen Way in Carlsbad. A private family partnership acquired the 3,260-square-foot property from a private seller for $3.6 million. The building is currently leased to 7-Eleven. Aron Cline and Matt Coates of Matthews Retail Advisors represented the seller in the deal.

July 6, 2016

Retail Utah Western

Several New Tenants Sign Leases at The Crossroads of Taylorsville in Utah

by Nellie Day July 6, 2016

TAYLORSVILLE, UTAH — S Squared Development, along with financial partner Tri-Gate Capital, has signed several new tenant deals at The Crossroads at Taylorsville in Taylorsville, located off Interstate 25. The property is currently being renovated. A Regal Cinema luxury multiplex is underway and several new restaurants have signed on at the property. Wing Stop plans to open a 2,500-square-foot restaurant in July, and Blaze Pizza is opening a 3,000-square-foot restaurant in September. Additionally, TJ Maxx and Davida Wireless have signed leases at the center, which is located in the Greater Salt Lake City market.

July 6, 2016

Retail Texas

Phillips Edison Acquires 218,598 SF Grocery-Anchored Shopping Center in Murphy

by Christina Cannon July 6, 2016

MURPHY, TEXAS — Phillips Edison Grocery Center REIT I Inc., a non-traded retail REIT, has acquired Murphy Marketplace, a 218,598-square-foot, Sprouts-anchored shopping center located in Murphy, a suburb 25 miles northeast of Dallas. The center is home to tenants including Michaels, 24 Hour Fitness, Tuesday Morning, T-Mobile, Chick-fil-A, Einstein Bros. Bagels, Chipotle Mexican Grill, Firehouse Subs and Dunkin’ Donuts. As of June 29, Phillips Edison Grocery Center REIT I owns and manages a retail portfolio consisting of 149 shopping centers totaling approximately 15.9 million square feet.

July 6, 2016

Connecticut Northeast Retail

O,R&L Commercial Handles $2.1M Sale of Retail Property in Connecticut

by Amy Works July 6, 2016

WALLINGFORD, CONN. — O,R&L Commercial has arranged the sale of Tower Square Plaza, located at 600 N. Colony Road in Wallingford. JMM Associates acquired the 22,160-square-foot retail center from 600 North Colony Road Associates for $2.1 million. The property is occupied by Enterprise Rent-a-car, Panda Garden, Domino’s, Brew and Steak Kings, and other retail tenants. Phil Marshall and Frank Hird of O,R&L Commercial represented the seller and buyer in the transaction.

July 6, 2016

Northeast Pennsylvania Retail

Bennett Williams Commercial Brokers Two Retail Deals in Pennsylvania Totaling $2.88M

by Amy Works July 6, 2016

HAMILTON TOWNSHIP AND FAIRVIEW TOWNSHIP, PA. — Bennett Williams Commercial has brokered two retail transactions in Pennsylvania totaling $2.88 million. In the first deal, Bhamidi Holdings has acquired a retail building located at 3170 Carlisle Pike in Hamilton Township. New Oxford DPP IX sold the 10,542-square-foot property for $1.58 million. Adam Hagerman, Brad Rohrbaugh and Chad Stine of Bennett Williams Commercial represented the buyer in the deal. In the second transaction, Goldstone I purchased an 8,446-square-foot retail building located at 99 Lewisberry Road in Fairview Township. Pavilion Development Group sold the property for $1.3 million. Hagerman, Rohrbaugh and Stine represented the seller in the transaction.

July 6, 2016

Indiana Loans Midwest Retail

NorthMarq Capital Arranges $1.4M Loan for Strip Center Near Louisville

by Christina Cannon July 6, 2016

NEW ALBANY, IND. — NorthMarq Capital has arranged a $1.4 million loan to refinance the Silver Run Center in New Albany, approximately five miles northwest of Louisville, Ky. The 11,355-square-foot property, located at 2860-2880 Charlestown Road, is shadow anchored by Kroger. The financing features a fixed-rate, three-year term and 20-year amortization schedule. Randall Waddell of NorthMarq Capital placed the loan with a local bank.

July 6, 2016

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