Retail

Tallen Capital Partners, Citivest Commercial to Redevelop Rossmoor Shopping Center

by Nellie Day May 24, 2016

WALNUT CREEK, CALIF. — Tallen Capital Partners LLC and Citivest Commercial LLC, alongside an undisclosed equity partner, will redevelop Rossmoor Shopping Center, a 108,000-square-foot retail center located in Walnut Creek. The phased redevelopment will include a refreshed façade, the addition of a drive-thru pharmacy, enhanced landscaping with the addition of new plazas and gathering spaces, new lighting and a public art component. The redevelopment will bring an additional 29,000 square feet of space to the property. Groundbreaking is scheduled to take place in the fourth quarter of 2016 with completion expected in late 2017. Norman Sears of SGPA’s San Francisco office will lead the architectural design team for the project. Recent lease signings for the center include a long-term lease with Safeway, CVS/pharmacy, Better Homes & Gardens and Starbucks Coffee.

May 24, 2016

California Retail Western

Sterling Organization Acquires Olivera Crossing in Metro San Francisco for $12M

by Nellie Day May 24, 2016

CONCORD, CALIF. — Sterling Organization has acquired Olivera Crossing, a 47,571-square-foot shopping center located in Concord, from West Valley Properties for $12 million. The asset, located roughly 30 miles outside of San Francisco, was acquired through the firm’s institutional fund Sterling Value Add Partners II LP. Dan Wald of Cushman & Wakefield represented the seller in the transaction. Planet Fitness anchors the 77 percent occupied center, which was originally built in 1960 and underwent renovations in 2005.

May 24, 2016

Industrial Multifamily Office Retail Texas

Cushman & Wakefield Acquires Oxford Commercial in Austin

by Haisten Willis May 24, 2016

AUSTIN, TEXAS — Cushman & Wakefield has acquired Oxford Commercial in Austin. Oxford Commercial has served clients in the areas of commercial real estate brokerage, investment sales, development consulting, market research and related advisory services since 1993. The company employs 35 brokers and staff members and has been behind many of the largest transactions in central Texas, including Athena Health’s lease inside the Seaholm Power Plant. In the past three years, Oxford Commercial’s transaction value totals reach $1.3 billion. Spencer Hayes, co-founder and managing partner of Oxford Commercial, will remain as managing principal under the new structure. Hayes worked for Cushman & Wakefield prior to founding Oxford Commercial.

May 24, 2016

Retail Texas

85°C Bakery Café to Open First Texas Location in Metro Dallas

by Haisten Willis May 24, 2016

CARROLLTON, TEXAS — 85°C Bakery Café has selected Carrollton Town Center in Carrollton for its first store in Texas and will open the location this summer. The Taiwan-based 85°C Bakery Café chain has more than 800 stores in Taiwan, China, Australia, Hong Kong and the United States. The company specializes in espresso coffee made from Guatemalan beans along with gourmet desserts. In the United States, the company previously focused mainly on California, where it has opened 10 stores since 2008. Carrollton Town Center, owned by NewQuest Properties, offers a 10- to 15-mile trade area for 85°C’s target market. The company plans to open three more stores in metro Dallas within a year, along with one in Houston. The café will span 5,771 square feet along with a 600-square-foot patio.

May 24, 2016

Industrial Retail Texas

SACA Brokers Sale of Three Tracts of Land in San Antonio

by Haisten Willis May 24, 2016

SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of three land tracts at the 1400 Sonterra development located at the southwest corner of US 281 North and East Sonterra Boulevard in San Antonio. SACA’s Paul Fagan represented the owner, CLDC Texas LLC, and was responsible for the sale of all three tracts, which total 10 acres. CLDC Texas originally owned approximately 300 acres near the property, most of which is now occupied by a Walmart, Costco and the Methodist Stone Oak Hospital. Only nine acres remains available as the city has experienced strong growth in the area since CLDC originally obtained the land in 1993. The sales included 3.8 acres to CHRISTUS Santa Rosa Health Care Corp. Paul Barker of Endura Advisory Group represented CHRISTUS in the transaction. Other transactions included 1.6 acres to Brundage Mini Storages LTD #3, which is planning a 600-unit, climate-controlled self storage facility at the site. Bert Denson of Brundage Management Co. Inc. represented Brundage Mini Storage in the deal. The final land sale included 4.4 acres to an unnamed buyer that intends to make a more detailed announcement …

May 24, 2016

Illinois Midwest Retail

Baum Realty Arranges $14.1M Sale of 31,920 SF Retail Property in Chicago

by Christina Cannon May 24, 2016

CHICAGO — Baum Realty Group LLC has arranged the sale of a retail property in Chicago’s Edgewater neighborhood for $14.1 million. A local developer sold the ground-floor retail space at The Granville to a private east-coast investor. ALDI anchors the fully leased property, which includes four other tenants. The 31,920-square-foot asset also features 106 covered parking spaces. Danny Spitz and Patrick Forkin of Baum Realty represented the seller in the transaction.

May 24, 2016

Michigan Midwest Retail

Friedman Brokers Sale of 11,800 SF Retail Building in Metro Detroit

by Christina Cannon May 24, 2016

TRENTON, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of an 11,800-square-foot retail building in Trenton, approximately 20 miles southwest of Detroit. Land Holding LLC sold the building, named Animal Crackers, to Trinity Realty Group LLC for an undisclosed price. The property is located at 124 Elm St. Paul Feldman of Friedman Integrated Real Estate Solutions represented the seller in the transaction.

May 24, 2016

Florida Retail Southeast

Marcus & Millichap Brokers $12.3M Sale of Retail Property in South Beach

by John Nelson May 24, 2016

MIAMI BEACH, FLA. — Marcus & Millichap has arranged the $12.3 million sale of Plaza 1600 South Beach, a 6,090-square-foot retail property located in Miami Beach’s South Beach neighborhood. The property is located at the intersection of 16th Street and Alton Road, roughly one block from Lincoln Road Mall. Built in 1959 and renovated in 2000, Plaza 1600 South Beach’s current tenants include Lyon Frères Petit Marché, Dunkin’ Donuts and Pizza Hut. Scott Sandelin and Alejandro D’Alba of Marcus & Millichap’s Miami office represented both the seller, a partnership from Miami Beach, and the buyer, a limited liability company from Miami.

May 24, 2016

Massachusetts Mixed-Use Multifamily Northeast Retail

Marcus & Millichap Negotiates $1.6M Sale of Mixed-Use Asset in Boston

by Amy Works May 24, 2016

BOSTON — Marcus & Millichap has arranged the sale of a mixed-use property located at 46-50 Blue Hill Ave. in Boston. A private investor sold the property to an undisclosed private investor for $1.6 million. The property features six apartments and three retail spaces. Evan Griffith of Marcus & Millichap represented the seller and procured the buyer in the deal.

May 24, 2016

Georgia Retail Southeast

Franklin Street Arranges $7M Sale of Shopping Center in Metro Atlanta

by John Nelson May 24, 2016

MARIETTA, GA. — Franklin Street has brokered the $7 million sale of Whitlock Village, a 61,180-square-foot shopping center in Marietta. The center was 96 percent leased at the time of sale to tenants such as Goodwill, Dollar Tree and Hibbett Sporting Goods. John Tennant and Bryan Belk of Franklin Street represented the seller, American National Insurance Co., in the transaction. The buyer is a private local investor, Snellville Plaza LLLP, a partnership controlled by Atlanta-based M&P Shopping Centers. The buyer was represented internally by Simon Engler and Jeremy Rosenthal.

May 24, 2016

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