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RestaurantRetailTexas

The Boulder Group Brokers $2.7M Sale of Net Leased Restaurant in Metro Dallas

by Haisten Willis

EULESS, TEXAS — The Boulder Group, a net lease investment brokerage firm, has completed the $2.7 million sale of a single-tenant Panera Bread ground lease located at 2911 Highway 121 in Euless. The newly constructed Panera Bread is an outparcel to the 194-acre Glade Parks development. Glade Parks’ tenants include Belk, Dick’s Sporting Goods, Dave & Busters, Michael’s and other national retailers. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the seller and the purchaser in the transaction. The purchaser was a private investor from Florida utilizing a 1031 tax-deferred exchange, and the seller was a Midwestern developer. The Panera Bread ground lease is for 15 years and features 10 percent rental escalations every five years.

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Rio Pinar Plaza Orlando Publix
FloridaRetailSoutheast

InvenTrust Properties Acquires Publix-Anchored Shopping Center in Orlando for $34M

by John Nelson

ORLANDO, FLA. — InvenTrust Properties Corp. has acquired Rio Pinar Plaza, a 124,283-square-foot, Publix-anchored shopping center in Orlando, for $34 million. The recently renovated property was fully leased at the time of sale. The shopping center is located at 401 S. Chickasaw Trail near the Florida Hospital East Orlando. As of Sept. 30, InvenTrust Properties, a self-managed REIT, owned 128 multi-tenant retail properties, including 18 joint venture assets, comprising 19 million square feet of retail space in 24 states.

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Kmart Jacksonville
FloridaRetailSoutheast

Colliers Brokers $4.4M Sale of Kmart in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Colliers International’s Northeast Florida office has brokered the $4.4 million sale of a 105,737-square-foot Kmart located at 9600 San Jose Blvd. in Jacksonville. Atlantic Mini-Storage of America Inc. purchased the retail property from Jacksonville KM LLC. Jason Ryals and Gary Montour of Colliers represented the buyer in the transaction.

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CaliforniaLoansRetailWestern

NorthMarq Arranges $9.8M in Acquisition Financing for Los Alisos Village in Mission Viejo

by Nellie Day

MISSION VIEJO, CALIF. — NorthMarq capital has arranged $9.8 million in acquisition financing for Los Alisos Village, a 31,401-square-foot retail center located in Mission Viejo. David Blum and Nathan Prouty of NorthMarq arranged the transaction, which was structured with a three-year, interest-only loan.

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Alamo Drafthouse Cinema at Imperial Market Sugar Land
RetailTexas

Alamo Drafthouse Cinema to Open New Location in Metro Houston

by John Nelson

SUGAR LAND, TEXAS — Alamo Drafthouse Cinema will open a new location in the Imperial Market development located in Sugar Land known as Alamo Drafthouse Cinema at Imperial Market. Imperial Market is an 850,000-square-foot mixed-use lifestyle center slated to open in the summer of 2017. Located at the historic home of the original Imperial Sugar Co. refinery, the development will retain a number of the architectural features of the building, which dates back to 1843. Construction will begin on the nine-screen theater in 2016 as part of a newly constructed, two-story retail building. Developed by Imperial Market LLC, the mixed-use development will feature a 274-unit apartment complex, 106,000 square feet of Class A office space and a 185-room hotel. Amenities will include the new Fort Bend Children’s Discovery Center, which is affiliated with the Houston Children’s Museum, the Sugar Land Heritage Foundation and more than two acres of greenery and park space. The development will also include 275,000 square feet of retail space.

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RetailTexas

NewQuest Properties Buys First Retail Property In Rio Grande Valley

by John Nelson

MISSION, TEXAS — In an off-market transaction, NewQuest Properties has acquired its first commercial property in the Rio Grande Valley, picking up a 99,424-square-foot Big Kmart on nearly 11 acres along the most heavily traveled route between McAllen and Monterrey, Mexico. The site is located at the northeast corner of Expressway 83/I-2 and South Bryan Road in Mission, used by more than 2.2 million vehicles per year in cross-border travel. NewQuest has purchased the property at 1405 E. Expressway 83 in Mission from Los Angeles-based Tishman International Cos. Meredith McLeod-Cobb and Michael McLeod-Cobb of Champions RE Group sourced and negotiated the off-market deal. Tishman was represented internally in the transaction. Developed in 1992, the Kmart is located six miles north of the Anzalduas International Bridge, a four-lane, three-mile span connecting Mission to Reynosa, Tamaulipas. NewQuest’s first investment in the region is situated at the western edge of the McAllen MSA, the retail crossroads for South Texas and Northern Mexico.

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RetailTexas

Whataburger to Open First Location in Royse City

by John Nelson

ROYSE CITY, TEXAS — A new Whataburger of Mesquite in Royse City will open at the northwest corner of I-30 and Erby Campbell. The one-acre pad site is located at the front of the new Walmart Super Center in Royse City. Construction is set to begin in January with an anticipated opening in summer 2016. W. Thurston Witt Jr. of CBRE|UCR represented the buyer, and Jim Wier with The Retail Connection represented the seller, Royse City 114.

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IllinoisMidwestRetail

Boulder Group Arranges $2.2M Sale of Net-Leased Property in Schaumburg, Illinois

by Christina Cannon

SCHAUMBURG, ILL. — The Boulder Group has arranged the sale of a single-tenant, net-leased retail property in Schaumburg for $2.2 million. The 4,500-square-foot building, located at 1430 E. Algonquin Road, is leased to Culver’s, a fast-casual restaurant chain, which has 15 years remaining on its lease. The property is positioned as an outparcel to an Aldi-anchored shopping center. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a Midwest-based developer. The buyer was a high-net-worth individual.

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IllinoisMidwestRetail

Marcus & Millichap Brokers Sale of 4,788 SF Property for $1.4M in Chicago

by Christina Cannon

CHICAGO — Marcus & Millichap has brokered the sale of 7-Eleven Lincoln Park in Chicago. The 4,788-square-foot property sold for $1.4 million. The property is the retail component of a multi-story condo building that is located at 2020 N. Lincoln Park West Ave. Evan Lyons, George Ghattas and Kyle Stengle of Marcus & Millichap listed the property on behalf of the seller, a private investor. The buyer was undisclosed.

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