Retail

Stirling Properties Buys Power Retail Center in Hattiesburg for $48.1M

by John Nelson January 29, 2016

HATTIESBURG, MISS. — Stirling Properties has purchased Turtle Creek Crossing, a 295,000-square-foot power retail center in Hattiesburg, for $48.1 million. The shopping center is the largest retail acquisition by Stirling Properties in its 40-year history. Built in 2007, Turtle Creek Crossing is located on US Highway 98 adjacent to Turtle Creek Mall. The center’s anchor tenants include Ashley Furniture, Bed Bath & Beyond, Ross Dress for Less, Old Navy, Books-A-Million and PetSmart. The property is shadow-anchored by Academy Sports + Outdoors, Target and Kohl’s and shares a lighted intersection with Sam’s Club and Walmart Supercenter.

January 29, 2016

California Loans Retail Western

CBRE Arranges $65M Refinancing for The Village at Pacific Highlands Ranch in San Diego

by Nellie Day January 29, 2016

SAN DIEGO — CBRE has arranged a $65 million loan for the refinance of The Village at Pacific Highlands Ranch, a 147,716-square-foot shopping center located in the Pacific Highlands Ranch community of San Diego. Bill Chiles, Scott Peterson and Brian Cruz of CBRE secured the 11-year, fixed-rate loan. Tenants at the center include Trader Joe’s, Starbucks Coffee, Panera Bread, Crunch Fitness and Wells Fargo.

January 29, 2016

California Retail Western

Charles Dunn Co. Arranges $3.9M Sale of Chase Bank Building in Northridge

by Nellie Day January 29, 2016

NORTHRIDGE, CALIF. — Charles Dunn Co. has arranged the $3.9 million sale of a 6,000-square-foot, single-tenant, triple-net-leased property occupied by Chase Bank in Northridge. Kyle Gulock and Jason Cope of Charles Dunn Co. represented the seller, Balboa Plaza Investments LLC, in the sale of the property to RBS Investments LLC. The transaction closed at a capitalization rate of 4.7 percent.

January 29, 2016

Retail Texas

The Richland Cos. Acquires Retail Complex in Houston

by Haisten Willis January 28, 2016

HOUSTON — The Richland Cos. has acquired Lakes on Eldridge Centre in Houston. Located at 5630 N. Eldridge Parkway, the 30,049-square-foot retail center sits on 2.1 acres. Lakes on Eldridge Centre includes five entrances, two monument signs and is the only retail center located at the intersection. Tenants include the Dr. Shirazo dentist office, West Houston Animal Clinic, Professional Dry Cleaners, Tiny Treasures Child Care, Houston Faith Church, Edward Jones & Co. Financial Planning, 1st Community Credit Union, U Break I Phix, Rose’s Nails, Hair & Skin Care and several restaurants. The complex is 95 percent occupied. Richland will assume management responsibilities of the property.

January 28, 2016

Mixed-Use Multifamily New York Northeast Retail

Thor Equities Acquires 55,000 SF Mixed-Use Property in Harlem

by Amy Works January 28, 2016

NEW YORK CITY — Thor Equities has acquired a 55,000-square-foot mixed-use property located at 556-566 W. 126th St. in Harlem for an undisclosed price. The six-story property features 58 apartments and five commercial units with more than 100 feet of retail frontage. Additionally, the property is adjacent to the new $7 billion, 17-acre expansion of Columbia University and in close proximity to Morningside Park, Barnard College, Teachers College and Columbia’s main campus. The name of the seller was not released.

January 28, 2016

Georgia Retail Southeast

The Boulder Group Brokers $3.6M Sale of CVS/pharmacy in Metro Atlanta

by John Nelson January 28, 2016

DECATUR, GA. — The Boulder Group has arranged the $3.6 million sale of a 10,125-square-foot CVS/pharmacy located at 4037 Glenwood Road in Decatur, a suburb of Atlanta. Originally built in 1999, the asset has 21 years remaining on a recently extended lease, which features five five-year renewal option periods with 5 percent rental escalations in each period. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a real estate institution based in Atlanta’s East Cobb district, in the transaction. The buyer was a high net worth family trust.

January 28, 2016

Midwest Minnesota Retail

Mid-America Brokers Sale of 140,578 SF Retail Center in Rochester, Minnesota

by Christina Cannon January 28, 2016

ROCHESTER, MINN. — Mid-America Real Estate Corp. has brokered the sale of a 140,578-square-foot retail property in Rochester, approximately 80 miles southeast of Minneapolis. Texas-based Epic Real Estate Partners purchased the asset, located at the intersection of South Broadway and U.S. Highway 52, from Illinois-based Inland Private Capital for an undisclosed price. Broadway Commons features tenants such as Bed Bath & Beyond, Dress Barn, DSW Shoe Warehouse, Famous Footwear and Michaels. Carly Gallagher and Michael Sims of Mid-America Real Estate represented the seller in the transaction.

January 28, 2016

Michigan Retail

SVN/ Stewart Commercial Brokers $6.9M Sale of 15,600 SF Retail Property in Auburn Hills, Michigan

by Christina Cannon January 28, 2016

AUBURN HILLS, MICH. — SVN/ Stewart Commercial Group LLC has brokered the sale of a 15,600-square-foot shopping center for $6.9 million, or $445 per square foot. The property, located at 4901-4931 Baldwin Road in Auburn Hills, was 100 percent leased at the time of sale. Tenants in the shopping center, which is 33 miles northwest of Detroit, include Sherwin Williams, Chipotle, Aspen Dental, Potbelly Sandwich Shop and Visionworks. The property was built in 2015. Vladimir Hritcu and Dan Stewart of SVN/Stewart Commercial represented the undisclosed buyer in the transaction. The seller in the transaction was also undisclosed.

January 28, 2016

Retail Texas

M&M Arranges Sale of 13,568 SF Retail Property in Houston

by Haisten Willis January 27, 2016

HOUSTON — Marcus & Millichap has arranged the sale of Woodforest Plaza, a 13,568-square-foot retail property located at 13421 Woodforest Blvd. in Houston. Derek Hargrove and Justin Miller of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a Houston-based limited liability company.

January 27, 2016

Whitestone Shopping Center Alabaster Publix

Alabama Retail Southeast

Marcus & Millichap Brokers $12.7M Sale of Publix-Anchored Shopping Center in Alabama

by John Nelson January 27, 2016

ALABASTER, ALA. — Marcus & Millichap has brokered the $12.7 million sale of Whitestone Shopping Center, a 70,065-square-foot, Publix-anchored shopping center located at 9200 Highway 119 in Alabaster. Built in 2004, the shopping center was 97 percent leased at the time of sale to tenants such as ABC Liquor, Premier Cosmetic and Family Dentistry, Alabaster Eye Care, Jackson Hewitt, Subway and Palm Beach Tan. Also included in the sale was a 9,260-square-foot outparcel currently leased to Buddy’s Home Furnishings. The buyer, Publix Super Markets Inc., was represented internally. Andrew Chason and Brett Chetek of Marcus & Millichap’s St. Louis office represented the seller, a limited liability company based in Montgomery, Ala., in the transaction. Eddie Greenhalgh of Marcus & Millichap’s Mobile office is the firm’s broker of record in Alabama.

January 27, 2016

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