Retail

Two X Team Partners Complete Northern Tool + Equipment Lease in Louisiana

by John Nelson February 8, 2016

HOUMA, LA. — Venture Commercial Real Estate and SRSA Commercial Real Estate, two X Team International partners, have arranged a 20,023-square-foot lease for Northern Tool + Equipment in Houma. The family-owned and operated chain of hardware stores will occupy space at Houma Power Center, joining Old Navy, Burkes Outlet, Shoe Carnival and Pier 1 Imports. The shopping center is located between Martin Luther King Boulevard and West Main Street. Clay Mote of Venture Commercial and Kirsten Early of SRSA Commercial represented Northern Tool in the lease deal. Austin Lavin of Corporate Realty represented the landlord, Andrew Associates LLC. The Houma store will be Northern Tool’s second location in Louisiana.

February 8, 2016

Midwest Retail Wisconsin

Siegel-Gallagher Arranges 2,034 SF Retail Lease in Pleasant Prairie, Wisconsin

by Christina Cannon February 8, 2016

PLEASANT PRAIRIE, WIS. — Siegel-Gallagher has arranged a 2,034-square-foot retail lease in Pleasant Prairie, approximately 37 miles south of Milwaukee. Fast Signs will occupy the space at Center 50, which is located at 4623 75th St. Center 50 LLC is the landlord. Devin Tessmer of Siegel-Gallagher brokered the transaction.

February 8, 2016

California Retail Western

Newmark Grubb Pearson Brokers Sale of 15,000 SF Retail Building in Madera

by Nellie Day February 5, 2016

MADERA, CALIF. — Newmark Grubb Pearson Commercial has arranged the sale of a retail building located at 100 E. Yosemite Ave. in Madera. Serranos Rentals acquired the 15,000-square-foot property from Barsotti Family LLC for an undisclosed sum. Craig Holdener and Troy McKenney of Newmark Grubb Pearson arranged the transaction.

February 5, 2016

California Retail Western

Flocke & Avoyer Commercial Arranges $1.6M Sale of Retail Building in San Diego

by Nellie Day February 5, 2016

SAN DIEGO — Flocke & Avoyer Commercial Real Estate has brokered the sale of a commercial building located at 9906 Carmel Mountain Road in San Diego. The Bradley Family Trust and McGuiness Family Trust sold the property to The Bertrand Family Trust for $1.6 million. Bertrand’s Music will occupy the 3,342-square-foot property. Brian Quinn of Flocke & Avoyer represented the sellers in the transaction.

February 5, 2016

California Retail Western

Tree of Life Leases 2,547 SF of Retail Space in Fresno

by Nellie Day February 5, 2016

FRESNO, CALIF. — Tree of Life has signed a lease for 2,547 square feet of retail space at 2139 Kern St. in Fresno. The landlord is Banner Bank. Phil Souza, Jeremy Reed and Jessica Young of Newmark Grubb Pearson Commercial handled the lease transaction.

February 5, 2016

Mixed-Use Office Restaurant Retail Texas

Yeager to Build New Mixed-Use Development in Plano

by Haisten Willis February 5, 2016

PLANO, TEXAS — Yeager has broken ground on a 48,300-square-foot mixed-use development in Plano known as Yeager at Rasor Pointe. The Indiana-based developer expects to complete the project, which includes 39,750 square feet of office suites and 8,550 square feet of retail and restaurant space, by early August. The property will be located on a 3.8-acre lot at the northeast corner of Rasor Boulevard and Ohio Drive.

February 5, 2016

Loans Retail Texas

Quantum Capital Secures $22.2M to Refinance Two Texas Shopping Centers

by Haisten Willis February 5, 2016

FRISCO AND SAN ANGELO, TEXAS — In two separate transactions, real estate capital advisory firm Quantum Capital has arranged $22.2 million in long-term, non-recourse debt to refinance regional shopping centers in Frisco and San Angelo. In the larger of the two deals, Quantum secured a $12.9 million non-recourse permanent loan on behalf of the borrower, a Los Angeles-based investor operating as TRT-QL Frisco. The loan will replace the maturing debt on Frisco Plaza, a 62,500-square-foot retail center located at Preston Road and Highway 21. The shopping center is located across the street from General Growth Properties’ 1.6 million-square-foot Stonebriar Centre, the primary retail destination in Frisco. Quantum also secured a $9.2 million permanent loan for another Los Angeles-based investor operating as Rancho Sunset Plaza LP to refinance Sunset Plaza in the west Texas city of San Angelo. The property is a 90,000-square-foot regional power center located on Sunset Drive at Highway 67 and Loop 306. Sunset Plaza is anchored by Target, Bed Bath and Beyond, Petco and Ross Dress for Less. Both fixed-rate loans were underwritten at a 75 percent loan-to-value ratio and priced at 250 basis points over the 10-year swap rate of 1.71 percent. The financings also included …

February 5, 2016

Retail Texas

Colliers International Negotiates Land Sale for Future Waffle House in Metro Houston

by Haisten Willis February 5, 2016

HUMBLE, TEXAS — Colliers International has negotiated the sale of a 0.7-acre tract of vacant land for the development of a Waffle House restaurant. Construction is expected to start by the fourth quarter of 2016. The property is located at the northwest corner of Will Clayton Parkway and Vine Forest Drive in Humble. Tom Condon Jr. of Colliers International’s office in The Woodlands represented the seller, Patricia Al-Attas Barrett & Bamardouf, Babidan, Al-Attas Joint Venture. Russ Holland internally represented the buyer, Waffle House. David Pitschmann with Alamo Title Co. coordinated the closing.

February 5, 2016

Midwest Minnesota Retail

Timber Development Breaks Ground on $3M Retail Center in Albert Lea, Minnesota

by Christina Cannon February 5, 2016

ALBERT LEA, MINN. — Timber Development has broken ground on a $3 million retail center in Albert Lea, approximately 64 miles southwest of Rochester. The 25,000-square-foot project is 90 percent pre-leased to tenants including Maurices, Shoe Sensation, AT&T and Sally Beauty Supply. The development, situated on a three-acre site, is also adjacent to a Walmart Supercenter. PNC Bank financed the development, which is scheduled for completion this fall.

February 5, 2016

Retail Texas

M&M Arranges Sale of 39,186 SF Retail Property in Metro Houston

by Haisten Willis February 4, 2016

PASADENA, TEXAS — Marcus & Millichap has arranged the sale of Parkview East Shopping Center, a 39,186-square-foot retail property located in Pasadena. Jerry Goldstein of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Parkview East is just north of Bayshore Hospital and has a tenant lineup including Jason’s Deli, Humana, Shipley’s Donuts and Ryan’s Cleaners. The property is 100 percent leased and located at 3901 Spencer Highway. The buyer purchased it utilizing a 1031 tax-deferred exchange.

February 4, 2016

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