Retail

PGA TOUR Superstore to Open First Experiential Store in Tucson

by Nellie Day December 4, 2015

TUCSON, ARIZ. — PGA TOUR Superstore will open its first experiential Tucson, Ariz., retail store in early 2016 at the Tucson Fiesta Shopping Center. PGA TOUR Superstore has three existing Arizona stores in Chandler, North Scottsdale and Scottsdale. Its new Tucson location will be the largest golf retail store in the area. The new 25,000-square-foot PGA TOUR Superstore in Tucson will have multiple swing simulators, practice hitting bays, a large putting green and an in-house club making and repair facility to provide an interactive experience to golf enthusiasts. PGA TOUR Superstore is owned and operated by Roswell, Ga.-based Golf & Tennis Pro Shop Inc., whose controlling owner and chairman is Arthur Blank, retired co-founder of The Home Depot.

December 4, 2015

Restaurant Retail Texas

The Silver Group Arranges Sale of a Burger King Restaurant in Brownsville

by Haisten Willis December 4, 2015

BROWNSVILLE, TEXAS — The Silver Group has arranged the sale of a single-tenant Burger King restaurant located at 925 U.S. Highway 77 in Brownsville. The freestanding 4,826-square-foot building is 1.5 years old and it replaced an older building that had become obsolete. At closing, the remaining triple-net lease term was 18.5 years. The investor acquired the asset to complete a 1031 tax-deferred exchange. Barry Silver of The Silver Group represented the out-of-state investor.

December 4, 2015

Midwest Retail Wisconsin

Time Equities Acquires Four Retail Properties in Wisconsin for $18.1M

by Christina Cannon December 4, 2015

WISCONSIN — Time Equities Inc. has acquired four multi-tenant retail properties totaling 307,668 square feet in Wisconsin for $18.1 million. The acquisitions were made in two separate transactions. In the first deal, New York-based Time Equities acquired Geneva Commons, located at 800 N. Edwards Blvd. in Lake Geneva, for $1.3 million. Geneva Commons is shadow-anchored by Target and is 70 percent leased to tenants that include Mattress Firm, Sally Beauty and Maurices. Quantum Real Estate Advisors represented the seller, Ryan Cos., in the transaction. Mid-America Real Estate will be in charge of leasing the property. In the second deal, Time Equities acquired Oak Creek Centre, Park Plaza and Taylor Heights for $16.8 million. Oak Creek Center, located at 8571 S. Howell Ave. in Oak Creek, is 95,042 square feet. The center is 84 percent leased, and tenants include TJ Maxx, Petco and Dollar Tree. The 110,855-square-foot Park Plaza, located at 1140 S. 30th St. in Manitowoc, is 61 percent leased to tenants including Family Dollar, Papa Murphy’s, Hobby Lobby and Advance America. Taylor Heights is an 87,680-square-foot retail center that is located at 549 S. Taylor Drive in Sheboygan. Planet Fitness anchors the center, and other tenants include Napa Auto …

December 4, 2015

Industrial Market Reports Multifamily Office Retail Texas Texas Market Reports

Tremendous Growth Underway in the ‘Twin Cities’ of Texarkana

by Haisten Willis December 4, 2015

It has been a tremendous year for the Twin Cities of Texarkana, Texas and Texarkana, Ark. with the education sector topping $70 million and a $180 million major medical campus projected to commence in early 2016. Educational Opportunity Texas A&M University-Texarkana has been awarded $35.5 million in state funding for the construction of a new building to house and expand its nursing program, including the expansion of a Master’s Degree program, and to promote student success initiatives. The Texas A&M University system expanded its four year-university program to Texarkana in 2010, with the first freshman class admitted that year including Phase I dorms on the 300-plus acre Bringle Lake Campus. University of Arkansas Community College at Hope (UACCH) expanded a satellite campus on Texarkana’s Arkansas side in 2012, with over $5.4 million going toward the construction of two buildings that service over 300 local students. Working hand in hand with the University of Arkansas at Little Rock, UACCH has expanded their four-year university program, and will continue to grow as the new health professions building completes construction. Further education initiatives include a $29.2 million commitment from Texarkana Independent School District for the construction of a new sixth grade center and …

December 4, 2015

Midwest Missouri Retail

Bamboo Equity Partners Acquires 19,000 SF Retail Center in Festus, Missouri

by Christina Cannon December 4, 2015

FESTUS, MO. — Bamboo Equity Partners has acquired a 19,000-square-foot shopping center in Festus, approximately 35 miles south of St. Louis for an undisclosed amount. The retail center, located at 332-356 Festus Drive, is comprised of two buildings that include tenants such as Edward Jones, Vantage Credit Union and Berkshire Hathaway. Intelica CRE brokered the transaction between Bamboo Equity Partners and the undisclosed seller. Intelica will also manage the property.

December 4, 2015

Loans New York Northeast Office Retail

Ready Capital Closes $9.9M Bridge Loan for Mixed-Use Property in NYC

by Amy Works December 4, 2015

NEW YORK CITY — Ready Capital Structured Finance has closed a $9.9 million value-add loan on a leasehold interest for a mixed-use retail and office property at 313-315 W. 125th St. and an adjacent undeveloped land parcel located at 316 W. 126th St. in Harlem. Proceeds of the loan will be used for the acquisition, renovation and stabilization of the vacant 27,145-square-foot mixed-use property and the 4,166-square-foot land parcel. The loan features a two-year term with a one-year extension. The property is one block from the Apollo Theater and a variety of retailers, including Old Navy, Banana Republic Factory Store and DSW.

December 4, 2015

New Jersey Northeast Retail

HFF Arranges $5.4M Sale of Suburban Philadelphia Self-Storage Property

by Amy Works December 4, 2015

CINNAMINSON, N.J. — HFF has brokered the sale of Riverline Self Storage, a self-storage facility located at 1714 Bannard St. in Cinnaminson, a suburb of Philadelphia. Saratoga Springs, N.Y.-based Prime Group purchased the 381-unit property for $5.4 million. The two-building property totals 63,539 rentable square feet, with the property’s 381 climate-controlled units totaling 36,586 rentable square feet and occupying portions of both two-story buildings. The remaining 26,953 square feet is occupied by a combination of office, retail and warehouse tenants. Richard Schontz and Barbara Guffey of HFF represented the seller, a local private investor, in the transaction.

December 4, 2015

New York Northeast Retail

Aquazzura to Open First U.S. Location in Manhattan

by Amy Works December 4, 2015

NEW YORK CITY — Aquazzura, a Florence, Italy-based shoe retailer, has leased 2,221 square feet of retail space at 935 Madison Ave. in Manhattan for its first U.S. location. Situated between 74th and 75th streets, the shoe retailer will occupy 1,144 square feet on the ground floor and 1,077 square feet on the lower level. The retail space features 17 feet of frontage on Madison Avenue, with the building’s original 1876 façade, as well as 18-foot ceilings on the ground floor and 10-foot ceilings on the lower level. Ariel Schuster, Jackie Totolo and Brandon Elias of RKF, along with Joel Isaacs and Joshua Lewin of Isaacs and Company represented the landlord, JZS Madison LLC, in the transaction. Marc Simon, also of Isaacs and Company, represented the tenant.

December 4, 2015

Arizona Retail Western

Kimco Realty Acquires Christown Spectrum Retail Center in Phoenix for $115.3 Million

by Nellie Day December 3, 2015

PHOENIX — Kimco Realty Corp. has acquired Christown Spectrum, an 850,000-square-foot destination power center located in Phoenix, for $115.3 million. The retail center is 94 percent occupied and anchored by Walmart Supercenter, Costco and SuperTarget. Other retailers include Walgreens, Ross Dress for Less, PetSmart, Dollar Tree, Bank of America, Famous Footwear, GNC, Bath & Body Works, Supercuts, Taco Bell, Carl’s Jr. and Wingstop Restaurant.

December 3, 2015

Mixed-Use Multifamily Retail Texas

Venture Completes 43-Acre Land Assemblage for Mixed-Use Development in Metro Dallas

by Haisten Willis December 3, 2015

EULESS, TEXAS — Venture Commercial Real Estate has completed an assemblage of 43 acres of land located at the northeast quadrant of Cheek-Sparger Road and Heritage Avenue west of State Highway 121 in Euless. The buyer, Tonti Properties, is expected to break ground in spring 2016 on Trinity Union, a 457-unit multifamily community. The project has a mixture of product types including a four-story wrap-style building with structured parking and separate townhome-style buildings with direct-access garages and private yards. Trinity Union will feature an urban design, and 19 acres of the site will be devoted to retail use. John Zikos, Ken Reimer, Christopher Gibbons and Cheryl Hill of Venture worked with Tonti to acquire three separate land tracts. In the most complex of the transactions, Venture represented the seller, a family that had owned a 25-acre tract for 54 years, while Wilson Stafford of Edge Realty Capital Markets represented Tonti Properties. In the other transactions, Venture and Edge co-represented Tonti Properties.

December 3, 2015

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